Lee Hindin’s Thoughts: ‘Jury Says Cuban Did NOT Commit Insider Trading’

Lee Hindin thoughts on Mark Cuban-insider-tradingIn my Lee Hindin Blog post of the day I thought I would offer my two cents on how it is nice to see the legal system work. While I fully respect the job the SEC does and has to do to protect against insider trading and other offenses that cause imbalances and manipulations of the Market, it was nice to see Mark Cuban have the resources to take this issue to Court and prove his innocence.

“Cuban, 55, hugged his lawyers after the verdict, then called family members. During an impromptu news conference outside the courthouse, he angrily denounced the SEC and its lead trial attorney, Jan Folena, saying that they lied about the evidence and targeted him because of his fame. He said that defendants of lesser wealth could have been bullied”. (read full article here) Those of us who know the costs of the legal system can clearly relate to Cuban’s sentiments and feelings.

I have had the pleasure of doing business with Mark. While I would not call us close by any means or say that my business experience with Mark and his organization is proof alone of his innocence in this matter; I can say that he has always been honest, hard charging for what he believes in, and most importantly always conducted himself in an honorable and above board manner in my dealings with him.

I was not surprised it took the jury only one hour to come back with a NOT GUILTY verdict. I also found it refreshing and not surprising that Mark called it as he saw it.  He stood up and fought for the principle, and for his innocence rather than taking the easy way out by paying a fine with a minor slap on the wrist and making it all go away.

Here is to you Mark, congratulations on your acquittal and for showing us all that it is always best to stand up for the truth and for what you believe in regardless of cost or public opinion.

 

 

 

Lee Hindin

Lee Hindin’s Thoughts – Government Shutdown Effects on the Real Estate Market

I came across an article from the Associated Press the other day, I thought I’d share ‘Lee Hindin’s Thoughts’:

Lee Hindind's AP Article

AP Reports: Average U.S. rates on fixed mortgages rose slightly this week, staying near three-month lows. Rates could fall next week now that lawmakers reached a deal to avert a possible government debt default and reopen the federal government.  (Click here for full article)

Clearly it’s good news the federal government is back open and that the debt ceiling crisis has been temporarily averted for a few more months. However, often lost in all this inside the beltway politics is the effect on Main Street and small business.

For example, I have been working on a real estate development project, which makes sense on all levels.  However, due to the fiscal uncertainty in Washington the private financial markets that make their return on leveraged capital temporarily appeared to cease while watching what was happening in Washington. Postponing the issues for months may have taken the pressure off legislators and the White House, but it has left the private capital markets and construction development lenders rightly concerned about the two to three year landscape of real estate development financing commitments.

Washington, democrats and republicans collectively, say they are for more jobs and focused on the middle class. Yet their behavior during the government shut down and debt ceiling debate has had a negative impact on jobs in my business world. This particular project once financed would likely provide 150-250 construction related jobs and 20-30 development related jobs, along with dozens of permanent long term positions.

I hope our elected representatives will look at real life examples like this when they focus on the long term solution to our great country’s fiscal issues. If they can create governmental fiscal stability, in my humble opinion, it will unleash a plethora of great middle class jobs that they claim they are laser focused on creating.

Lee Hindin’s Thoughts: Tools to Enhance Your Business Strategy: www.1and1.com

Lee Hindin Strategy

I am in the process of launching a few new businesses and helping some friends and colleagues launch and enhance their existing businesses. One of the things we all seem to be focused on is our web and social media presence. We all agree it is critical in today’s business world to have the best possible presentation and interaction within the web marketplace.

We all seem to have this same priority in common, to make it as easy and efficient as possible for our customers and associates to find us on the web and to utilize social media to interact with our customers and associates.

In this process I came across several great web sites that have been extremely helpful.  One of which is www.1and1.com.  This web site is easy to navigate and has assisted us with accomplishing our web-based goals and strategies.  You may have even seen their ads on TV.

What I found helpful about this site that it is very easy to use.  In addition to being a one stop shop where you can reserve and or purchase URL’s, they also offer a full suite of web based services including building and managing your website.

What I found to be of particular interest is that you can also reserve new potential URL addresses that are not yet approved for use, but should be soon.  These include .app, blog, online, shop, .inc, .eat, and many more that may fit your business needs. This could potentially make it easier for your customers and associates to find and interact with your business.  You can see the entire new potential URL’s on http://www.1and1.com.

In order to reserve theses URL’s you will need to supply your name, address, phone, email etc. and then once approved you will have to pay to own and use them. My colleagues and I see the potential these can offer and I wanted to share this information with my friends on my blog in the event it is helpful to your endeavors.  I will be highlighting other tools I believe offer value to my fellow entrepreneurs as we navigate through this business world together.  In that spirit, I hope everything you are working on in your businesses is going your way!

Lee Hindin

Lee Hindin’s New Video Blog

I have created a new video blog to provide a resource for those who may be interested in learning from my experience – the good and the not so good.  Please visit my channel on YouTube.  Here is a link to my first video – Lee Hindin’s ‘The brutal truth of being an entrepreneur.’

Lee Hindin YouTube Channel

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Lee Hindin

Lee Hindin’s Thoughts: So you want to open a restaurant?

Lee Hindin Restaurant

Story by Lee Hindin:  A good friend invited me to lunch the other day.  He wanted to talk about opening a restaurant.  Since I have opened and run over 50 restaurants during my career, I guess he figured I would be a good person to talk to.

Among the 50 restaurants, I started and grew 35 of them myself.  The remaining restaurants I either licensed, franchised, or purchased existing concepts.  The funny thing was that I wasn’t sure if he wanted me to talk him into it or out of it!

We had a nice lunch as I shared my thoughts with him.  He had a good conceptual framework for his menu and décor.   He was convinced he had a winning concept.  I was impressed with his general premise.  I wish I could share it with you but that would not be fair since he shared the concept in confidence.

What I can share is what it takes to turn a winning concept into a winning formula – a restaurant that makes money and stands the test of time.  I learned this the hard way during my time studying at the school of hard knocks.  I certainly do not want my friend to have to do the same.  I would not want anyone to have to go through that.  This is why I wanted to share our discussion on my blog in hopes that it could help someone who is thinking about opening a restaurant.

For a restaurant to be successful they would need to have great food, a winning value proposition, the right location, great service, fitting décor and ambiance, targeted marketing, and militaristic systems in place that make it all run smoothly.

History shows that only one out of every ten new restaurants succeed.  The key is to understand why the nine fail and to make sure you identify, address and solve for the reasons that drive their failures.  Some neglect to get the food right.  Some have great food but do not get the profit margins right and are unable to pay the bills. Others get the food and profit margins right but do not have the right location.  Some may have the right location but not enough tables or parking.  They may have paid way too much rent or spent too much on building the restaurant.  Some fail to implement proper training systems so while the premise is right the execution is inconsistent.  Others do not focus enough on wowing and delighting their guests with great service.  Some forget that even with great systems and training, it all comes down to the people.  To have a great restaurant that makes money you must have great people who believe in what you are doing.  They need to love your food and love working with you.  Finding great people and keeping them is often a new restaurants downfall.  Some design great offerings but cannot find the right suppliers or ingredients and have trouble stocking their inventory.  In my experience, these are only some of the ways why even the greatest concepts in restaurants fail.

If you can develop a great concept, avoid the pitfalls that were discussed, stay focused on your goals, you have a good chance of being that one out of ten restaurants that succeed.

I hope this is helpful and I wish you the best of luck if you are starting a new restaurant.  It can be the hardest, most frustrating thing in the world but it can also be the most fun and rewarding endeavor you have ever experienced!

Lee Hindin