Latest news with #SafeHarbor
Eater
2 days ago
- Entertainment
- Eater
The Four Horsemen's Anticipated Italian Restaurant Is Finally Here
Fresh off celebrating the Four Horsemen's tenth anniversary, the team has opened their hotly anticipated new restaurant across the street. I Cavallini is opening in Williamsburg on 284 Grand Street, between Havemeyer and Roebling streets, starting on Wednesday, July 16. The new restaurant is larger than its older sibling, with 64 seats (tables, bar, and counter) and a bigger kitchen. The dinner menu features in-house-made pastas, including the bucatini with tomatoes and ricotta salata ($30), and the gnocchi sardi with shrimp, beans, and herb butter ($32). Other dishes include the fried eel toast with pine nuts and golden raisins ($24); roasted golden chicken with garlic and grilled hearts ($49); and the olive oil cake with berries ($18). Drinks include the all-Italian wine list with more than 100 bottles. Then there's cocktails, which is new for the team, many with amaro, such as the Shakerato Rickey with amaro, lime, and soda ($18); the Pomozoni with Italian gin, doladira, lemon, tomatoes, and salt ($19); the Safe Harbor with a dry gin, fino, coconut, cucumber, absinthe and soda ($18); the after-dinner Dolce Amaro Fizz with amaro noveis, hazelnut, coffee liqueur, egg yolk, cream, and prosecco ($21); plus beers, nonalcoholic options, and coffee. I Cavallini co-partners are executive chef Nick Curtola (who also oversees the kitchen of the Four Horsemen), managing director Amanda McMillan, James Murphy, Christina Topsoe, Randy Moon, and Stacy Fisher (who is the wife of the late partner Justin Chearno). The rest of the team includes wine director Flo Barth (who worked with Chearno at the Four Horsemen), bar director Jojo Colona (who worked at Attaboy), general manager Kendra Busby, and sous chefs Jonathan Vogt and Max Baez. Reservations can be placed online, but there is room for walk-ins — good luck to anyone trying their luck at this on opening week! The fried eel toasts at I Cavallini. Nick Curtola/I Cavallini Ichimura's final days Sushi Ichimura will close after service on Thursday, July 14. As Eater reported earlier this year, Sushi Ichimura opened the 10-seat sushi spot in 2023 from the esteemed Eiji Ichimura — who set forth a new chapter on high-end omakase in New York — and Kuma Hospitality, also behind the restaurant l'Abeille (both were featured in Celine Song's summer movie The Materialists). At the time, the group suggested that Ichimura was retiring, but he has denied that that's the case. Kuma is working to flip the space into a new concept at 412 Greenwich Street, near Laight Street, in Tribeca. Eater has reached out for more information. A roast beef sandwich icon of South Brooklyn turns 55 Roll N Roaster in Sheepshead Bay is celebrating its more-than-five decades in operation with a bunch of BOGO (buy-one-get-one free) food deals on Tuesday, July 15, like its roast beef sandwiches. Don't miss out on that collectible special-edition pen, either.
Yahoo
23-06-2025
- Business
- Yahoo
RBC Capital Cuts Enphase Energy (ENPH) PT to $28 Amidst Concerns Over Proposed Senate Reconciliation Bill
Enphase Energy Inc. (NASDAQ:ENPH) is one of the best technology stocks according to Wall Street analysts. On June 18, RBC Capital analyst Christopher Dendrinos adjusted the price target on Enphase Energy to $28 from $50, while maintaining a Sector Perform rating on the shares. This revision was primarily a response to the proposed Senate reconciliation bill, which is expected to impact the clean energy sector. RBC's analysis assumes that the bill passes with its current Senate-proposed provisions, which would lead to lowered demand and margin assumptions for residential solar companies like Enphase Energy. This is due to expected residential solar lease restrictions and the termination of 25D tax credits. While the Senate's proposed revisions are seen as more favorable than the House version in some aspects, the restriction on the stacking provision is considered more restrictive by RBC. A solar panel array stretched across a large open field, its glimmering panels reflecting the sun. In Q1 2025, the company showed a revenue of $356.1 million, which included $54 million of Safe Harbor revenue. ~1.53 million microinverters and 170.1 megawatt-hours of batteries were shipped in Q1. For Q2, Enphase Energy provided revenue guidance of $340 to $380 million. The company is expanding its product offerings with the launch of the fourth-generation IQ battery and the IQ9 microinverter. Enphase Energy Inc. (NASDAQ:ENPH) designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry internationally. While we acknowledge the potential of ENPH as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Related Content NASDAQ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-06-2025
- Business
- Yahoo
Safe Harbor Financial to Participate in the Benzinga Cannabis Capital Conference on June 8–10, 2025
DENVER, June 06, 2025 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a Safe Harbor Financial (Safe Harbor or the 'Company') (Nasdaq: SHFS), a fintech leader in facilitating financial services and credit facilities to the cannabis industry, announced that Terry Mendez, Safe Harbor's Chief Executive Officer, Jeffrey Kay, Senior Vice President of Marketing, Dominic Marella, Vice President of Business Development, and Michael Regan, Head of Investor Relations & Data Science will participate in the Benzinga Cannabis Capital Conference being held on June 8–10, 2025, at the Marriott Magnificent Mile in Chicago, Illinois. Terry Mendez, will join a panel discussion titled 'The CFO, The CPA & The CEO: How To Make Your Business Financially Resilient' on Monday, June 9, 2025, at 1:00 p.m. CT on the Main Stage on Floor 5 (Chicago Ballroom ABCD). The panel will explore the critical role of financial leadership, tax strategy, and capital structure in navigating the volatile cannabis market. Safe Harbor will host one-on-one meetings throughout the conference. For more information or to schedule a meeting, please contact ir@ About Safe Harbor: Safe Harbor is among the first service providers to offer compliance, monitoring and validation services to financial institutions that provide traditional banking services to cannabis, hemp, CBD and ancillary operators, making communities safer, driving growth in local economies and fostering long-term partnerships. Safe Harbor, through its financial institution clients, implements high standards of accountability, transparency, monitoring, reporting and risk mitigation measures while meeting Bank Secrecy Act obligations in line with FinCEN guidance on cannabis-related businesses. Over the past decade, Safe Harbor has facilitated more than $25 billion in deposit transactions for businesses with operations spanning more than 41 states and US territories with regulated cannabis markets. Cautionary Statement Regarding Forward-Looking Statements:Certain information contained in this press release may contain 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included herein may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Forward-looking statements may include, but are not limited to, statements with respect to trends in the cannabis industry, including proposed changes in U.S and state laws, rules, regulations and guidance relating to Safe Harbor's services; Safe Harbor's growth prospects and Safe Harbor's market size; Safe Harbor's projected financial and operational performance, including relative to its competitors and historical performance; success or viability of new product and service offerings Safe Harbor may introduce in the future; the impact volatility in the capital markets, which may adversely affect the price of Safe Harbor's securities; the outcome of any legal proceedings that have been or may be brought by or against Safe Harbor; and other statements regarding Safe Harbor's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intends,' 'outlook,' 'may,' 'might,' 'plan,' 'possible,' 'potential,' 'predict,' 'project,' 'should,' 'would,' and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Safe Harbor's filings with the U.S. Securities and Exchange Commission. Safe Harbor undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release. Safe Harbor Investor Relations Contact: Mike Regan, Head of Safe Harbor Investor Relationsir@ Safe Harbor Media Relations Contact: Ellen Mellody570-209-2947safeharbor@
Yahoo
03-06-2025
- Business
- Yahoo
PensionBee Analysis Finds Left-Behind 401ks May Cost Americans $90,000 by Retirement
Job hopping early in your career can leave you vulnerable to predatory Safe Harbor IRAs, according to new research by online retirement provider PensionBee. NEW YORK, June 03, 2025--(BUSINESS WIRE)--In today's dynamic job market, frequent career moves are common, especially among younger professionals. However, this trend has led to a growing issue: abandoned 401(k) accounts. Recent estimates indicate that over 29 million forgotten 401(k) accounts exist in the U.S. To make matters worse, when employees leave behind small 401(k) balances - under $7,000 - employers can transfer these funds into Safe Harbor IRAs without the employee's consent to help manage high volumes of inactive accounts. PensionBee examined the impact of this common administrative practice, revealing the stark return differential between Safe Harbor IRAs and traditional retirement accounts. Americans who leave behind just a handful of accounts early in their careers can lose out on over $90,000 by the time they retire. The Three-Fold Problem Safe Harbors IRAs are designed to preserve rather than grow capital. Previous market analysis by PensionBee found that combined high fees and low returns of many mainstream providers work against this goal, and may even deplete forgotten retirement accounts to $0. The problem is threefold: First, mandated ultra-conservative investments. Regulations require Safe Harbor IRAs to use low-risk investments, usually offering far below standard retirement portfolio returns, often below the rate of inflation. Many Safe Harbor IRA providers use bank deposits with very low interest rates, sometimes as low as 0.5%. Second, many providers charge excessive fees that devour returns. Unlike 401(k) plans, which have an average fee of approximately 0.85%, Safe Harbor IRAs charge seemingly small monthly fees ($1-$5) that quickly accumulate. One provider charges $5.67 monthly plus 0.5% annually—on a $3,500 account, that's $85.54 yearly (2.4%) before additional withdrawal fees of $75 per transaction. These fees often exceed any earnings and actively deplete principal. Third, interest skimming. Certain providers have been known to pay less than 1% interest while prevailing rates exceed 4%, taking substantial portions of investment returns as a "bank servicing fee." The Generational Toll Younger workers face a perfect storm. Not only do Gen Zers change jobs often, but they are also opening retirement accounts earlier than ever before. The average Gen Zer starts saving for retirement at age 22, compared with Millennials, who began at 27, Gen X, whose average age was 31, and Boomers, who didn't start until the age of 37. The combination of changing jobs more frequently and opening retirement accounts earlier than their predecessors creates a dangerous vulnerability. Gen Z is more likely to accumulate multiple small 401(k) accounts that are prime targets for automatic transfers to Safe Harbor IRAs, which were never meant to be long-term investing vehicles. Our system quietly undermines their early start through these forced transfers to low-yield investments. The lack of transparency compounds the problem. This isn't merely a different default option; it's a fundamentally different investment approach with dramatically reduced growth potential. The Compounding Problem PensionBee's latest research compared growth trajectories of Safe Harbor IRAs (~2% returns) and 401(k) investments (~5% returns), to model the difference in returns between employees whose small balances are forced into low-yielding accounts and those who are not. The findings suggest that automatic rollovers into Safe Harbor IRAs with low-yielding accounts harm former employees and can lead to an exponential difference in returns across several accounts. For illustrative purposes, the analysis looks at a typical worker who: Job hops between the ages of 20 and 30, leaving behind a 401(k) every two years (five total) Has a starting salary of $50,000 that grows 10% with each new job Retirement balances are calculated as 3% of that salary annually, with 50% employer match vested PensionBee's analysis shows that a typical 20-year-old worker who leaves behind a $4,500 retirement account will see it grow to just $5,507 by retirement age if left in a typical Safe Harbor IRA. Had that same amount been rolled over to a traditional 401(k) earning 5%, it would grow to $25,856, a difference of over $20,000 from a single account. The impact compounds dramatically with multiple job changes. Someone who switches jobs every two years in their 20s and rolls over their accounts each time saves over $90,000 more by retirement than someone who leaves them in Safe Harbor IRAs. This difference exceeds the median American retirement savings of $87,000. How to Protect Your Retirement Savings Check Account Size: Know your balance when leaving a job, as accounts under $7,000 may be automatically transferred to Safe Harbor IRAs. If your account is under $1,000, it may be cashed out automatically, triggering taxes and penalties. Know Your Options: You generally have four choices for your retirement account when switching jobs: keep it with your former employer, transfer it to an IRA, move it to your new employer's plan, or cash out, potentially triggering penalties and taxes. Update Contact Information: Ensure all retirement account providers have your current contact information to prevent account transfers without your knowledge. Take Timely Action: Make decisions about your retirement funds within 30 days of leaving a job to prevent automatic transfers. Bottom Line The silent drain of retirement savings through inadequate Safe Harbor IRAs remains largely invisible to millions of Americans who switch jobs regularly. Most job-hoppers assume their retirement accounts are safe, even if unaccounted for. Instead, forgotten accounts may be eroded by excessive fees and low returns, potentially costing thousands in retirement savings. "Safe Harbor IRAs represent a critical blind spot in America's retirement system," notes Romi Savova, CEO of PensionBee. "The lack of transparency in these accounts is particularly troubling, as most assume that the money they put towards their retirement will remain theirs. The difference between investment defaults matters enormously." Savova emphasizes that "these seemingly small default decisions have profound long-term consequences for savers. Greater transparency around default investment strategies would empower consumers to make informed choices about their financial future." About PensionBee PensionBee is a leading online retirement provider, helping people easily consolidate, manage, and grow their retirement savings. The company manages approximately $8 billion in assets and serves over 275,000 customers globally, with a focus on simplicity, transparency, and accessibility. Notes The information provided in this announcement, including any projections for investment returns and future performance, is for informational and educational purposes only and should not be considered investment advice. Past performance is not indicative of future results. All investments carry risk, including the potential loss of principal. PensionBee is not liable for any losses or damages arising from the use of this information. Projections and forecasts are based on assumptions and current market conditions, which are subject to change. PensionBee Inc. is registered with the Securities and Exchange Commission as an investment adviser. We do not provide in-person advice. PensionBee Inc (Delaware Registration Number SR20241105406 ) is located on 85 Broad Street, New York, New York, 10004. View source version on Contacts Adela Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
03-06-2025
- Business
- Business Wire
PensionBee Analysis Finds Left-Behind 401ks May Cost Americans $90,000 by Retirement
NEW YORK--(BUSINESS WIRE)--In today's dynamic job market, frequent career moves are common, especially among younger professionals. However, this trend has led to a growing issue: abandoned 401(k) accounts. Recent estimates indicate that over 29 million forgotten 401(k) accounts exist in the U.S. This isn't merely a different default option; it's a fundamentally different investment approach with dramatically reduced growth potential. Share To make matters worse, when employees leave behind small 401(k) balances - under $7,000 - employers can transfer these funds into Safe Harbor IRAs without the employee's consent to help manage high volumes of inactive accounts. PensionBee examined the impact of this common administrative practice, revealing the stark return differential between Safe Harbor IRAs and traditional retirement accounts. Americans who leave behind just a handful of accounts early in their careers can lose out on over $90,000 by the time they retire. The Three-Fold Problem Safe Harbors IRAs are designed to preserve rather than grow capital. Previous market analysis by PensionBee found that combined high fees and low returns of many mainstream providers work against this goal, and may even deplete forgotten retirement accounts to $0. The problem is threefold: First, mandated ultra-conservative investments. Regulations require Safe Harbor IRAs to use low-risk investments, usually offering far below standard retirement portfolio returns, often below the rate of inflation. Many Safe Harbor IRA providers use bank deposits with very low interest rates, sometimes as low as 0.5%. Second, many providers charge excessive fees that devour returns. Unlike 401(k) plans, which have an average fee of approximately 0.85%, Safe Harbor IRAs charge seemingly small monthly fees ($1-$5) that quickly accumulate. One provider charges $5.67 monthly plus 0.5% annually—on a $3,500 account, that's $85.54 yearly (2.4%) before additional withdrawal fees of $75 per transaction. These fees often exceed any earnings and actively deplete principal. Third, interest skimming. Certain providers have been known to pay less than 1% interest while prevailing rates exceed 4%, taking substantial portions of investment returns as a 'bank servicing fee.' The Generational Toll Younger workers face a perfect storm. Not only do Gen Zers change jobs often, but they are also opening retirement accounts earlier than ever before. The average Gen Zer starts saving for retirement at age 22, compared with Millennials, who began at 27, Gen X, whose average age was 31, and Boomers, who didn't start until the age of 37. The combination of changing jobs more frequently and opening retirement accounts earlier than their predecessors creates a dangerous vulnerability. Gen Z is more likely to accumulate multiple small 401(k) accounts that are prime targets for automatic transfers to Safe Harbor IRAs, which were never meant to be long-term investing vehicles. Our system quietly undermines their early start through these forced transfers to low-yield investments. The lack of transparency compounds the problem. This isn't merely a different default option; it's a fundamentally different investment approach with dramatically reduced growth potential. The Compounding Problem PensionBee's latest research compared growth trajectories of Safe Harbor IRAs (~2% returns) and 401(k) investments (~5% returns), to model the difference in returns between employees whose small balances are forced into low-yielding accounts and those who are not. The findings suggest that automatic rollovers into Safe Harbor IRAs with low-yielding accounts harm former employees and can lead to an exponential difference in returns across several accounts. For illustrative purposes, the analysis looks at a typical worker who: Job hops between the ages of 20 and 30, leaving behind a 401(k) every two years (five total) Has a starting salary of $50,000 that grows 10% with each new job Retirement balances are calculated as 3% of that salary annually, with 50% employer match vested PensionBee's analysis shows that a typical 20-year-old worker who leaves behind a $4,500 retirement account will see it grow to just $5,507 by retirement age if left in a typical Safe Harbor IRA. Had that same amount been rolled over to a traditional 401(k) earning 5%, it would grow to $25,856, a difference of over $20,000 from a single account. The impact compounds dramatically with multiple job changes. Someone who switches jobs every two years in their 20s and rolls over their accounts each time saves over $90,000 more by retirement than someone who leaves them in Safe Harbor IRAs. This difference exceeds the median American retirement savings of $87,000. How to Protect Your Retirement Savings Check Account Size: Know your balance when leaving a job, as accounts under $7,000 may be automatically transferred to Safe Harbor IRAs. If your account is under $1,000, it may be cashed out automatically, triggering taxes and penalties. Know Your Options: You generally have four choices for your retirement account when switching jobs: keep it with your former employer, transfer it to an IRA, move it to your new employer's plan, or cash out, potentially triggering penalties and taxes. Update Contact Information: Ensure all retirement account providers have your current contact information to prevent account transfers without your knowledge. Take Timely Action: Make decisions about your retirement funds within 30 days of leaving a job to prevent automatic transfers. Bottom Line The silent drain of retirement savings through inadequate Safe Harbor IRAs remains largely invisible to millions of Americans who switch jobs regularly. Most job-hoppers assume their retirement accounts are safe, even if unaccounted for. Instead, forgotten accounts may be eroded by excessive fees and low returns, potentially costing thousands in retirement savings. "Safe Harbor IRAs represent a critical blind spot in America's retirement system," notes Romi Savova, CEO of PensionBee. "The lack of transparency in these accounts is particularly troubling, as most assume that the money they put towards their retirement will remain theirs. The difference between investment defaults matters enormously." Savova emphasizes that "these seemingly small default decisions have profound long-term consequences for savers. Greater transparency around default investment strategies would empower consumers to make informed choices about their financial future." About PensionBee PensionBee is a leading online retirement provider, helping people easily consolidate, manage, and grow their retirement savings. The company manages approximately $8 billion in assets and serves over 275,000 customers globally, with a focus on simplicity, transparency, and accessibility. Notes The information provided in this announcement, including any projections for investment returns and future performance, is for informational and educational purposes only and should not be considered investment advice. Past performance is not indicative of future results. All investments carry risk, including the potential loss of principal. PensionBee is not liable for any losses or damages arising from the use of this information. Projections and forecasts are based on assumptions and current market conditions, which are subject to change.
