Michael S. Robinson's Blog, page 8

A Few Private Minutes with “One Hundred Pennies” author Michael S. Robinson

“One Hundred Pennies” author Michael S. Robinson talks about his mentors, lesson he’s learned from the past, and why starting a business in today’s difficult economy should not stop anyone from writing out and executing their business plan.

 

Filed under: job creation, Job Interview, Job Search, Michael S Robinson, small business, Videos

The Great Escape: Why are Hedge Funders and Executives Flocking to Florida?

This week’s NY Post reported that hedge-fund executives are flocking to Florida, and it’s not just for vacation. In fact, it’s their state of choice. What are the perks? It can easily be summed up in four words: Zero-Income-Tax-Jurisdiction. Even though it’s usually a balmy 77 degrees in the dead of winter, there’s simply no state income tax. But really, why not stay in NYC and reap the benefits of the big apple? It’s simple.

Firms like APEX Fund Services, and HedgeCo.net haven’t given a second thought to major moves to Florida. Even though federal tax rates are the same in Florida and in New York, the sunshine state didn’t have to pay 5 percent like New York did. Florida residents lost only 3.31 percent of their income in total taxes, according to 2009 census figures. That percentage difference is a substantial factor for those who stand to make millions of dollars a year in income. That’s something Hedge Fund Managers can definitely bank on.

Geography and ties to a new South American market maybe another factor. Smaller Hedge Funds looking for bigger opportunities may want to expand, and they simply won’t have the same opportunities if they stay in New York. Technology allows them to do their work anywhere, and shift assets easily between locations.

Apex, for example, wants to be in the center of the newest major private banking names. Most of those newer banks are located in South America. “We definitely believe it’s the right place for Apex to be,” said Thalius Hecksher in the Minyanville Paper. Hecksher, the Global Head of Business Development at Apex Fund Services, also stated that Miami is a prime hotspot. “Over the last 19-20 months, we’ve noticed that we have a couple clients there and we could better serve them more locally, “ Hecksher explained. “As a result of that we have also gotten some managers on board from Brazil and other Latin American countries.”

The incentives look good, the taxes are low, but what about job creation? In 2010 NY State and local governments took $14.71 out of every $100 earned. Looking ahead, could this be a sustainable effort to attract ambitious investment managers to the area? What about the supply of service providers who specialize in the industry in Florida in order to serve banking managers? Even though Miami seems to be a launching pad for the next emerging market, time can only tell if it will be a solid foundation for the Hedge Fund industry.

Filed under: News & Articles

ONE HUNDRED PENNIES BOOK PREVIEW

I felt compelled to write “One Hundred Pennies” because I wanted to kick off a critically needed national dialogue about the importance of the small business sector to the health of our nation’s economy.

In “One Hundred Pennies” I outline the inherent problems, but also provide viable solutions to help propel our nation towards full economic recovery.

I’m Michael Robinson and I invite you to be part of the solution.

Filed under: News & Articles

A Discussion on Social Responsibility

Too often in life we throw our hands up in the air and expect magical things to happen. We elect politicians into office and think that all our problems will be solved, or at least get better. But isn’t it our responsibility to take control of our lives by being aware, outspoken and action-driven?

The issue of gun violence, although not covered in my book, is a hotly debated topic now as we seek to find a balance between our Second Amendment rights and the safety of our citizens. The Constitution was written by our forefathers, who wanted to provide a safe haven for the people of this country, along with a place to flourish and prosper. Little did they know that guns would evolve to become savage weapons used to kill dozens of people in a few seconds, like the catastrophe that occurred at Sandy Hook Elementary School a few weeks ago. None-the-less, we are practical people and our country is constantly evolving. At the end of the day, it’s about being socially responsible in a would of diverse differences. Meeting in the middle sometimes isn’t a bad place to find common ground.

The reality is that guns are not illegal, so whatever gun laws are put in place by our government, access to weapons will still be available to anyone who wishes to cause undue harm to others. Personal responsibility is the key to safety, and when someone is incapable of acting in consideration of himself/herself, or others, surely he/she is a danger to society, and access to any weapons should be prohibited. But who will police citizens to identify such a person? Is George Orwell’s prediction of 1984 eminent? Or should we take responsibility for our lives and those who are in our care? I believe the latter seems to be the most American thing to do, so let’s be good Americans.

In my next blog, I will continue with the discussion of responsibility by focusing on corporations verses small businesses, as discussed in my book One Hundred Pennies. Making our country stronger as we continue to strive to become self-aware.

Filed under: Corporate Social Responsibility, Events, Gun Control, Michael S Robinson, News, News & Articles

It’s the Most Wonderful Time of the Year: New York Staffing Services Inc. 2012 Christmas Office Party!

 

This year we kicked off our Christmas party in a special way. Our parties are never catered, and never overtly formal. We also wanted to make sure that this year’s Christmas party would be a welcome respite from day to day business. Office parties are a chance where everyone can share stories and get to know co-workers that may reside on the other side of the office.

If you have waistline woes, then it would do you good to leave those at home with our parties! Our festivity was served up buffet style! Everyone brought a dish to be shared and savored. Caribbean Fruit Cake, West Indian Bacalao, Chicken Wings, Italian Sausages, Shrimp Balls, Lasagna, Mint Chocolate Chip Cookies, Champagne, Cookies and Creme Vodka, and the list goes on. Of course all festivities followed by a round of Kris Kringle!

It’s been an exciting, challenging, and unforgettable year for all of us. New Faces, along with new challenges, are upon us. The Staff at New York Staffing Services Inc., along with all of us at Microbin, hope you have as festive of an Office Party as we had. Even more, we wish you Happy Holidays!

Michael S. Robinson

Michael’s Christmas Tree

Filed under: News & Articles

The Resilience of Small Businesses in the Wake of Hurricane Sandy

Walking around South Street Seaport’s cobblestone streets and 19th century buildings, it’s hard to imagine that just one month ago, Superstorm Sandy ravaged this thriving and picturesque section of downtown Manhattan. Our offices are located just a few short blocks away from the Seaport, and it serves as a constant reminder that many small businesses have suffered from the hurricane. These days, it’s not uncommon to see residents and business owners on Water Street and other enclaves still pushing generators from building to building, in the hopes of providing heat while cleaning the last remnants of hurricane debris.

This past Monday marked the reopening of the South Street Seaport Museum, but the landmark has followed in the footsteps of many small businesses in lower Manhattan: Open for business! Oh..but heating and electrical systems still closed. Guests and patrons of small businesses are now used to the fact that generators provide the only heat source, and sheer leg power has taken the place of working escalators. But escalators and heating are small potatoes compared to what other small business owners face. What about the time, money, and revenue that many small businesses lost in the wake of Sandy?

Six weeks after floods have receded, some business owners have called it quits while others are determined to keep fighting. Walking around for only half an hour, one can sense feelings of desolation and frustration of what has happened to many hard-working business owners. Tom, a business owner who was finally allowed to go inside the basement of his once thriving, small business has had to overcome many hardships. After being locked out of the premises due to possible ‘electrocution’ and ‘contamination’, his staff is now faced with the task of removing moldy equipment from a flooded basement. He is now finally allowed to clean, and pick up the pieces of what was once a bustling mainstay for many local patrons. Believe it or not, he might well be one of the luckier ones. While some business owners are still ‘locked’ out, others have had to relocate, close shop, or simply run their businesses in an entirely different way.

There are glimmers of hope. In the midst of ‘restricted use’ or ‘building closed’ signs there are also ‘we are open’ and ‘open but no heating!’ signs sprinkled throughout the windows of this small, yet strong enclave of Manhattan. The spirit is still alive, which is not surprising, considering that New Yorkers are of an industrious and resilient nature. But what challenges do we face now that we are forced to confront climate change? How can small businesses prepare themselves and what incentives should be provided by local, municipal, city, and state programs? Watch this space as we continue to blog about businesses in the wake of Hurricane Sandy.

Filed under: Economy, Job Market, Michael S Robinson, News & Articles, small business

Keep An Eye Out For My Upcoming Book

One Hundred Pennies has been written to simplify complex ideas by shedding light on the value of small businesses to a healthy US economy.

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Filed under: Economy, job creation, News & Articles, small business

NMBC’s 40th Anniversary

Congratulations to the National Minority Business Council on 40 years of service to the small business community and to this year’s award recipients.

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Filed under: Media, Michael S Robinson, News & Articles, small business, Videos

Michael S. Robinson rings in NYSE Opening Bell

Michael S. Robinson, President & CEO of New York Staffing Services, Inc. joins fellow NMBC Board Members as they rang the opening bell at the New York Stock Exchange, Friday August 5,2011

Filed under: Media, Michael S Robinson, News & Articles, Videos

Speech Excerpts from Saratoga GOP Dinner

Please take a moment to view excerpts out of my latest speech from the Saratoga GOP Women’s Club Dinner.

Filed under: News & Articles