Maritime insurance lawyer Bob Falvey to retire
Robert E. Falvey, general counsel at Falvey Insurance, is retiring after 26 years at the Rhode Island-based maritime cargo underwriter.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
10 minutes ago
- Business Wire
Houston-Based Pierce & O'Neill Partners Recognized Again by Chambers USA
HOUSTON--(BUSINESS WIRE)--The courtroom strength of Pierce & O'Neill, LLP, has once again been recognized in the newly released 2025 Chambers USA guide, with firm founders Jesse Pierce and Jack O'Neill highlighted for their work in high-stakes oil and gas and commercial litigation. Mr. Pierce earned a national Band 1 ranking for oil and gas litigation, with additional honors for his commercial litigation work in Houston. The 2025 edition marks his 17th consecutive year recognized by Chambers, placing him among the most consistently honored trial lawyers in the field. One client told Chambers Mr. Pierce is an 'oil and gas scholar, and is charismatic, smart and persuasive in front of a judge and jury.' Firm co-founder Mr. O'Neill is touted for his commercial litigation expertise in Houston in energy, contract and business matters. As lead trial counsel, he has handled some of Texas' most closely watched cases, including numerous multimillion- and billion-dollar energy and commercial disputes. Mr. O'Neill 'possesses great judgment and is an incredible oral advocate,' another client told Chambers. The firm recently earned Spotlight Texas honors for the third consecutive year, a distinction Chambers awards to standout litigation firms demonstrating consistent excellence. Both name partners are also repeat honorees by Lawdragon, The Best Lawyers in America and Texas Super Lawyers. Pierce & O'Neill brings extensive experience to both sides of the docket, successfully handling complex disputes ranging from breach of contract and fraud to land use and other high-stakes issues across the energy, oil and gas and commercial sectors. The Chambers USA guide is widely regarded as a benchmark for legal excellence, with rankings based on in-depth research and extensive interviews with clients and legal peers. Published by the London-based Chambers and Partners, the guide recognizes firms and attorneys who demonstrate outstanding legal expertise, professionalism, and commitment to superior client service. About Pierce & O'Neill, LLP Pierce & O'Neill, LLP, is a litigation boutique devoted to representing clients in significant litigation. Visit to learn more about the firm.
New York Post
12 minutes ago
- New York Post
Office space is now being razed or converted faster than it's being built — for the first time in 25 years
While return-to-office mandates may be the talk of the town, office conversions and demolitions reign supreme. More office space is being demolished or converted than is being built through new construction this year. That's according to CBRE Group data reported by CNBC. This marks the first time the scales have shifted in at least 25 years, according to the commercial real estate services firm, demonstrating the lasting and seismic impact of remote work culture in the wake of COVID-19. The inflection point is clear — 23.3 million square feet of office space across the largest 58 US markets will be demolished or converted by the end of 2025, CNBC reported. Just 12.7 million square feet of new office construction will be completed. 5 5 Times Square was left nearly vacant by its former tenant, the auditing firm Ernst & Young. Now it's destined for a residential makeover. Bloomberg via Getty Images 5 The former facade of the since-converted 25 Water St. The office building slowly emptied as JPMorgan Chase, the National Enquirer and the New York Daily News departed. Stefano Giovannini 'We have more office space than we need, and most of the office space that's being demolished is functionally obsolete,' Barry DiRaimondo, CEO of the West Coast-based commercial real estate developer SteelWave, told The Post. 'So I think it's probably good all the way around.' Widespread pressure by major companies to get employees back in their cubicles, especially in New York City, gave a recent boost to office-leasing activity. More office space is now being occupied than vacated, CNBC reported, but office vacancies continue to hover around record highs at 19%. There are significant silver linings to the decline of office construction. Steven Shoumer, a partner at Blank Rome and co-chair of the firm's real estate group, told The Post in an email that shrinking supplies of new offices will help to stabilize rents as return-to-office demands grow. 'However, it will be interesting to see if office space availability gets tighter with vacancy rates lowering in the coming years, and consequently causes office rents to rise (which would also be good for building owners),' Shoumer wrote. Luxury, 'Class A' office owners and investors will particularly benefit from a thinned-out field of competitors, while well-positioned developers can be the star of the show with office-to-residential conversions. 5 Plans are being cooked up for the conversion of a near-empty office building along Flatbush Avenue to turn into Brooklyn's second-tallest residential tower. Binyan Studio and TenBerke Architects 5 One Wall Street, once the largest city's office-to-condo conversion, has since gained several converted FiDi neighbors. Evan Joseph Photography 5 A rendering of the converted interiors of 25 Water St. Streetsense Developers have primed 85 million square feet of former office space for conversions over the next few years, CNBC added. New York City is leading the pack in office-to-apartment conversions, according to RentCafe, with more than 8,000 new apartments expected from repurposed office buildings projected as of February. That number is only increasing with new conversion plans popping up at neglected addresses every few weeks, from Downtown Brooklyn's 395 Flatbush Ave. to 5 Times Square. Successful conversions across the city are racking up. FiDi's 25 Water St. — the former home of JPMorgan Chase, the National Enquirer and the New York Daily News — set a record this year as the largest office-to-resi conversion in the country. There's also Pearl House in the Seaport District, the massive former-bank One Wall Street and ex-Goldman Sachs HQ 55 Broad. Less office construction can also be a boon to the average Joe, too. Although shrinking office footprints might not get folks out of their morning commute into Midtown, the conversion of other, obsolete offices will offer a boost to housing supplies and cheaper rents.
Yahoo
42 minutes ago
- Yahoo
Rocket Companies Announces Pricing of Senior Notes due 2030 and Senior Notes due 2033
DETROIT, June 5, 2025 /PRNewswire/ -- Rocket Companies, Inc. (NYSE: RKT) (the "Company" or "Rocket Companies"), the Detroit-based fintech platform including mortgage, real estate, title and personal finance businesses, today priced its private offering of $2.0 billion aggregate principal amount of 6.125% senior notes due 2030 and $2.0 billion aggregate principal amount of 6.375% senior notes due 2033 (collectively, the "Notes" and such offering, the "Offering"). The Notes will initially be fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by Rocket Mortgage, LLC ("Rocket Mortgage") and each of Rocket Mortgage's domestic subsidiaries that are issuers or guarantors under Rocket Mortgage's existing senior notes. Upon the consummation of the previously announced proposed acquisition of Redfin Corporation ("Redfin" and such acquisition, the "Redfin Acquisition"), the Notes will also be guaranteed, on a senior unsecured basis, by Redfin. Upon the consummation of the previously announced proposed acquisition of Mr. Cooper Group Inc. ("Mr. Cooper" and such acquisition, the "Mr. Cooper Acquisition"), the Notes will also be guaranteed, jointly and severally, on a senior unsecured basis, by Mr. Cooper and each of Mr. Cooper's subsidiaries that are issuers or guarantors of existing senior notes of Nationstar Mortgage Holdings Inc.'s, a subsidiary of Mr. Cooper ("NMH"). The Offering is expected to close on June 20, 2025, subject to certain customary conditions. The Company intends to use the proceeds from the Offering to (i) on the closing date for the Mr. Cooper Acquisition, redeem NMH's 5.000% senior notes due 2026, 6.000% senior notes due 2027 and 5.500% senior notes due 2028 at redemption prices equal to 100% of the principal amount of such notes, plus accrued and unpaid interest to, but excluding, the redemption date (the "Redemption"), (ii) pay fees and expenses related to the Offering and the Redemption, (iii) at the Company's discretion, redeem, purchase (including, if required, in a change of control offer) and/or amend NMH's 6.500% senior notes due 2029, 5.125% senior notes due 2030, 5.750% senior notes due 2031 and 7.125% senior notes due 2032 and pay fees and expenses in connection therewith and (iv) after the consummation of the Mr. Cooper Acquisition, repay secured debt of the Company and its subsidiaries (including Redfin, Mr. Cooper and their subsidiaries). The Offering is not contingent on the consummation of the Redfin Acquisition or the Mr. Cooper Acquisition. The Notes will be subject to a special mandatory redemption if the Mr. Cooper Acquisition is not consummated by September 30, 2026, and a partial special mandatory redemption 45 days after the Mr. Cooper Acquisition for any of the Notes proceeds that are not, within 45 days of the Mr. Cooper Acquisition, used in the Redemption or the repayment of other secured debt of the Company and its subsidiaries. The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act, and outside the United States, to non-U.S. investors pursuant to Regulation S. The Notes and related guarantees will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from registration requirements or in a transaction not subject to the registration requirements of the Securities Act or any state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks and uncertainties. These forward-looking statements are generally identified by the use of forward-looking terminology, including the terms "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and, in each case, their negative or other various or comparable terminology. All statements other than statements of historical facts, including statements regarding the Redfin Acquisition, the Mr. Cooper Acquisition, the collapse of our Up-C structure, our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans, objectives of management and expected market growth are forward-looking statements. As you read this press release, you should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions, including those described under the heading "Risk Factors" in our Annual Report on the Form 10-K for the fiscal year ended December 31, 2024, filed with the Securities and Exchange Commission (the "SEC") on March 3, 2025, as amended by the Form 10-K/A, filed with the SEC on April 28, 2025, and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, filed with the SEC on May 9, 2025. Although we believe that these forward-looking statements are based upon reasonable assumptions, you should be aware that many factors could affect our actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release. We expressly disclaim any intent, obligation or undertaking to update or revise any forward-looking statements made herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements contained in this press release. View original content to download multimedia: SOURCE Rocket Companies, Inc. Sign in to access your portfolio
