Category Archives: Bank One Ballpark

The Success Story of Highlands Capital Management

Highlands Capital Management is one of the most successful investment advisory companies in the country. The company, together with its affiliates has a net worth of $15.4 billion. The company was founded in 1993 by the duo of James Dondero and Mark Okanda. The company specializes in credit hedge funds, long only funds and CLOs among others. The company has been diversifying their investments so as to include other things such as pension plans, corporations, short and long equities and high net worth individuals. The company has offices in several places including New York, Sao Paolo, Seoul and Singapore.

The company has adopted a system of leadership where they invest in more than just the financial markets. The company has expanded their reach to include the communities in which their employees come from. They have been engaging in activities such as volunteerism, financial donations to both public institutions and involvement in national non-profit organizations. The success of the company was based on among other things the ability of the two men at the helm to strategize and improve the service delivery. By 1997 for instance, the company was in a position to buy out their partners, and they did so. This helped them remain with a major shareholding of their company.

With the start of the new Millennium, the company decided to create a different type of bank fund loan. This helped them create a 40 Act platform, which expanded the number and variety of investments that their customers could take part in. The company then got into a mutual agreement with Columbia Asset Management, the company that helped them acquire two floating funds. It is in 2008 that they decide to extend their reach beyond the US and get to the other locations around the world.

About Equities First

Equities First is a co-founder and the president of Highlands Capital Management. He has three decades of experience in investment banking. The worked at the American Express before he got the idea to work start his own hedge fund. He is a CFA and also a CMA. Through his drive and experience, a small Texas based fund has grown into a global fund.

Chase Field May be Sold to Out-of-State Investors

Chase Field, originally known as BOB(Bank One Ballpark from 1998-2005)may lose its Phoenix, Arizona ownership. It opened just in time for the Diamond Backs baseball team’s first expansion game. The Diamond Backs have complained recently to the stadium’s Maricopa County owners that the stadium is in bad need of repairs. Back in March, the team said that if their demands are not met, they might leave Chase Field and sue the country, except that they are not allowed to leave until their contract is up in 2024. In a poll that was recently conducted, most of the people side with Maricopa County. Maricopa County has rejected the Diamond Backs team request for $65 million dollars worth of repairs over a five year period. Some of the improvements that the Diamond Backs want include the locker rooms, concession stands, dug out, and heating and cooling systems.

The Board of Supervisors of Maricopa County are meeting today to discuss the negotiations. Part of the $60 million dollar price tag includes the desire to keep the Diamond Backs at the Phoenix, Arizona stadium through 2028 or even longer than that.

Diamond Backs’ team president, Derrick Hall, prefers that Phoenix takes over the ownership of the stadium instead of selling it to out-of-state investors. He thinks that if Phoenix becomes the stadium owners that they will create City Scape and a high-rise, mixed-use development.

Clint Hickman, Board Chairman believes that if a private investor takes over the financial responsibilities, it’ll benefit the taxpayers who will be relieved of public funding. Fans chipped in and raised $250 million dollars in order to restore the stadium, and the team chipped in over $200 million dollars for reconstruction 18 years ago. The potential East Coast investors, Stadium Real Estate Partners II LLC, want to create an entertainment and sports district to surround Chase Field. The investors are represented by Martin J Greenberg of Milwaukee, Wisconsin who said that the new owners want to have new entertainment and sports district as a way of making the downtown area more attractive and hopefully bringing in more revenue to Phoenix.