In a complex real estate dispute, Laguna Beach mogul Mohammad Honarkar faced significant financial trouble during the pandemic. Desperate for support, he collaborated with investor Mahender Makhijani. The partnership soon unraveled, leading to the loss of many of Honarkar’s properties, including the historic Hotel Laguna. Arbitration Victory Three years later, Honarkar claimed vindication with a...
Prairie Avenue in Inglewood may lack the recognition of streets like Wilshire or Sunset, but it has become a hub for high-profile sports and entertainment. This area hosts attractions like the Intuit Dome, the Kia Forum, and the Sofi Stadium, which commands attention due to its appearance at major events like the World Cup. While...
The Federal Reserve has shifted towards transparency over the years, moving from a secretive government entity to an institution willing to share information. However, new chair Kevin Warsh is changing this approach. Warsh, like many economists, believes financial markets rely too heavily on Fed guidance. He envisions using such guidance more in times of financial...
Since 2024, the Downtown Neighborhood Association (DNA) of Elgin has organized spring pop-up makers markets to give emerging business owners a platform to display their handmade products. Next month, another element of this initiative, the Made In Elgin Shop, will open in Courtyard at 40. This shop will house up to eight entrepreneurs who will...
The average long-term U.S. mortgage rate decreased this week, mirroring a drop in Treasury yields. This follows a deal aimed at ending the conflict with Iran. Mortgage buyer Freddie Mac reported a drop in the 30-year fixed rate mortgage to 6.47% from 6.52% last week. A year ago, this rate was at 6.81%. The 15-year...
During a recession, savvy buyers find opportunities to acquire small businesses. Statistics show that 52% of business owners are nearing retirement, which means a large number of businesses might be up for sale soon. If you are interested in expanding your business holdings, now may be the time to prepare. Observers often note that recessions...
U.S. stocks experienced a downtrend on Wednesday due to speculation regarding potential interest rate hikes by the Federal Reserve this year. Such increases aim to manage inflation but often slow economic growth and decrease investment values. The S&P 500 index dropped by 1.2%, erasing earlier gains, after projections showed that nine out of eighteen Fed...
Recent changes in the Federal Reserve’s policies have caught the attention of borrowers and investors. The question on everyone’s mind is: what does the Fed’s rate pause mean for mortgage rates? Background on the Fed’s Current Position Over the past year, discussions about the Federal Reserve have focused on when it would resume rate cuts...
Small businesses across the United States are struggling under continued economic pressures. Rising tariffs and increased energy costs are wearing down their financial resilience. At the beginning of the year, there was optimism among these businesses. Inflation appeared to be cooling, borrowing costs were decreasing, and new tax breaks were becoming available. Even President Trump’s...
The site that was once home to Spring Hill Mall in West Dundee is set for transformation. The West Dundee Village Board received proposals for new housing, retail, entertainment, and civic spaces. Tim Scott, the village’s economic development director, collaborated with Houseal Lavigne Associates, an urban planning firm from Chicago, to present development options. Concepts...