Latest news with #Balkin
Axios
16-05-2025
- Business
- Axios
Chicago's shrinking Maxwell Street Market
When Maxwell Street Market reopens for the season this Sunday, it won't look much like the wild workingman's bazaar that sprang up on the site 150 years ago. Why it matters: Over the years, the city-run market has lost hundreds of vendors and shrunk from 52 to just six markets a year, leaving some longtime market fans worried the Chicago institution will become unrecognizable or disappear altogether. Professor Steve Balkin, director of the Maxwell Street Foundation, which preserves the market's history, says the group has shared these concerns and potential solutions with Chicago officials, "but the city just ignores us and ignores me." Catch up quick: The market opened in the 1870s (and the city recognized it in 1912) to sell food and building supplies in an area initially dominated by German and Irish immigrants. Migrants from Eastern Europe, the Mississippi Delta, Italy, Greece and Mexico followed and each left their cultural stamp. In the early 1990s, UIC's expansion pushed the market from Maxwell to Canal Street and then Desplaines Street, where robust weekly markets with food stands, bric-a-brac, and blues musicians continued until the pandemic shut it down. After the city relaunched weekly in 2022 on a May through October schedule, the market dropped to six times a year in 2024 and returned to the now gentrified intersection of Maxwell and Halsted. There, food stalls are no longer allowed because they'd compete with nearby restaurants. What they're saying:"It just lacks what I defined as Maxwell Street," Balkin tells Axios. "A big part of the market for me was the nationally celebrated food stands, the authenticity, the funky used goods like old picture frames. Those are now replaced by people selling bourgeois things at high prices, like candles." The ask: Advocates want the city to return the market to Desplaines Street, "where food vendors won't have conflicts with restaurants and big box stores," Balkin says. He also urges city officials to restore a weekly schedule that will allow the traditional vendors of tools, Mexican produce and used oddities to reestablish a regular following. Balkin says the Maxwell Street Foundation can help the city with grants and interns to see it through. The other side: "The Chicago Department of Culture Affairs and Special Events is looking forward to a successful and impactful 2025 season of Maxwell Street in its historic and original location," DCASE spokesperson Bria Purdiman told Axios in an email. "Following the pandemic, the number of vendors and attendees decreased from prior years at 800 S. DesPlaines. Last year's decision to move the market back to its historic location created new energy and increased interest that we're sure will continue this year." The latest: Purdiman says this year's markets will have themes and feature "art, vintage and rare finds, jewelry, health and beauty items and home goods, along with live entertainment, arts activations and fun for all ages." This Sunday's theme is "spring garage sale." The Maxwell blues: June's market theme is "Celebrating Chicago Blues," with performers scheduled each hour. Yes, but: "On old Maxwell Street there was no czar who decided who would play and where," Balkin said. "Blues musicians would pick out a spot on a street corner or next to a restaurant or record store or on a porch of a building or in a vacant lot next to an abandoned school bus and then express themselves with a bucket [to collect money] in front of them." "It provided unlimited opportunities for musicians to experiment with sounds that created narrative songs for the self and for their grassroots fans."
Yahoo
15-05-2025
- Business
- Yahoo
Horizon Technology Finance Names Michael P. Balkin as Chief Executive Officer
- Founders Robert D. Pomeroy, Jr. and Gerald A. Michaud to Retire; Mr. Pomeroy to Remain Chairman of the Board of Directors - FARMINGTON, Conn., May 15, 2025--(BUSINESS WIRE)--Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon" or "HRZN") (the "Company"), an affiliate of Monroe Capital, and a leading specialty finance company that provides capital in the form of secured loans to venture capital and private equity backed and publicly traded companies in the technology, life science, healthcare information and services, and sustainability industries, announced today that, as part of the Company's succession planning, Robert D. Pomeroy, Jr. will retire as Chief Executive Officer ("CEO") of the Company and Gerald A. Michaud will retire as President of the Company, both effective June 5, 2025. Concurrently, the Board of Directors of the Company (the "Board") has appointed Michael P. Balkin to succeed Mr. Pomeroy as CEO of the Company. Mr. Pomeroy will remain Chairman and an interested member of the Board after his retirement. Mr. Michaud will remain involved with the company through the end of the year. Having previously served as an independent director of the Company since June 2023, Mr. Balkin will build on the heritage of Horizon by continuing to grow the venture debt portfolio with a renewed focus on high quality, small-cap growth companies. As CEO of Horizon, Mr. Balkin will leverage his three decades of experience and expertise as a Partner and Co-Manager of the Small-Cap Growth Fund at William Blair and Partner and Chief Investment Officer at Magnetar Investment Management, a wholly-owned subsidiary of Magnetar Capital, a multi-strategy hedge fund. "Mike's knowledge and experience in investment and portfolio management and construction, as well as his more than three decades of work growing small-cap and technology companies as a portfolio manager and board member makes him an excellent choice to lead Horizon during its next phase of growth," stated Mr. Pomeroy. "The Board and I believe Mike will lead the continued expansion of the Horizon platform and drive long-term value for HRZN's stockholders, and we are excited to work with him." "I want to congratulate Rob and Jerry on their well-deserved retirements. They will remain a vital and active voice for Horizon in their respective continued roles," said Theodore L. Koenig, Chairman and CEO of Monroe Capital. "This planned leadership succession reflects the vision of the Company's management team and Board of Directors, who have worked collaboratively to ensure a seamless and effective transition of responsibilities. Mike is the right leader to guide Horizon into its next chapter." "I am honored to be stepping into the role of CEO of Horizon and build upon the solid foundation laid by Rob and Jerry's team over the past 20+ years to further expand the Horizon platform," said Mr. Balkin. "We will continue to focus on diversification, mitigation of risk and portfolio growth while remaining true to Horizon's investment objective of maximizing return by generating current income from debt investments and capital appreciation from the warrants it receives when making debt investments." About Horizon Technology Finance Horizon Technology Finance Corporation (NASDAQ: HRZN), externally managed by Horizon Technology Finance Management LLC, an affiliate of Monroe Capital, is a leading specialty finance company that provides capital in the form of secured loans to venture capital and private equity backed companies and publicly traded companies in the technology, life science, healthcare information and services, and sustainability industries. The investment objective of Horizon is to maximize its investment portfolio's return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Horizon is headquartered in Farmington, Connecticut, with a regional office in Pleasanton, California, and investment professionals located throughout the U.S. Monroe Capital is a premier asset management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, opportunistic, structured credit, real estate and equity. To learn more, please visit Forward-Looking Statements Statements included herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Horizon's filings with the Securities and Exchange Commission. Horizon undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release. View source version on Contacts Investor Relations:ICRGarrett Edsonir@ (646) 200-8885 Media Relations:ICRChris GillickHorizonPR@ (646) 677-1819 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
15-05-2025
- Business
- Business Wire
Horizon Technology Finance Names Michael P. Balkin as Chief Executive Officer
FARMINGTON, Conn.--(BUSINESS WIRE)--Horizon Technology Finance Corporation (NASDAQ: HRZN) ('Horizon' or 'HRZN') (the 'Company'), an affiliate of Monroe Capital, and a leading specialty finance company that provides capital in the form of secured loans to venture capital and private equity backed and publicly traded companies in the technology, life science, healthcare information and services, and sustainability industries, announced today that, as part of the Company's succession planning, Robert D. Pomeroy, Jr. will retire as Chief Executive Officer ('CEO') of the Company and Gerald A. Michaud will retire as President of the Company, both effective June 5, 2025. Concurrently, the Board of Directors of the Company (the 'Board') has appointed Michael P. Balkin to succeed Mr. Pomeroy as CEO of the Company. Mr. Pomeroy will remain Chairman and an interested member of the Board after his retirement. Mr. Michaud will remain involved with the company through the end of the year. Having previously served as an independent director of the Company since June 2023, Mr. Balkin will build on the heritage of Horizon by continuing to grow the venture debt portfolio with a renewed focus on high quality, small-cap growth companies. As CEO of Horizon, Mr. Balkin will leverage his three decades of experience and expertise as a Partner and Co-Manager of the Small-Cap Growth Fund at William Blair and Partner and Chief Investment Officer at Magnetar Investment Management, a wholly-owned subsidiary of Magnetar Capital, a multi-strategy hedge fund. 'Mike's knowledge and experience in investment and portfolio management and construction, as well as his more than three decades of work growing small-cap and technology companies as a portfolio manager and board member makes him an excellent choice to lead Horizon during its next phase of growth,' stated Mr. Pomeroy. 'The Board and I believe Mike will lead the continued expansion of the Horizon platform and drive long-term value for HRZN's stockholders, and we are excited to work with him.' 'I want to congratulate Rob and Jerry on their well-deserved retirements. They will remain a vital and active voice for Horizon in their respective continued roles,' said Theodore L. Koenig, Chairman and CEO of Monroe Capital. 'This planned leadership succession reflects the vision of the Company's management team and Board of Directors, who have worked collaboratively to ensure a seamless and effective transition of responsibilities. Mike is the right leader to guide Horizon into its next chapter.' 'I am honored to be stepping into the role of CEO of Horizon and build upon the solid foundation laid by Rob and Jerry's team over the past 20+ years to further expand the Horizon platform,' said Mr. Balkin. 'We will continue to focus on diversification, mitigation of risk and portfolio growth while remaining true to Horizon's investment objective of maximizing return by generating current income from debt investments and capital appreciation from the warrants it receives when making debt investments.' About Horizon Technology Finance Horizon Technology Finance Corporation (NASDAQ: HRZN), externally managed by Horizon Technology Finance Management LLC, an affiliate of Monroe Capital, is a leading specialty finance company that provides capital in the form of secured loans to venture capital and private equity backed companies and publicly traded companies in the technology, life science, healthcare information and services, and sustainability industries. The investment objective of Horizon is to maximize its investment portfolio's return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Horizon is headquartered in Farmington, Connecticut, with a regional office in Pleasanton, California, and investment professionals located throughout the U.S. Monroe Capital is a premier asset management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, opportunistic, structured credit, real estate and equity. To learn more, please visit Forward-Looking Statements Statements included herein may constitute 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Horizon's filings with the Securities and Exchange Commission. Horizon undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
