Latest news with #DeLong
Business Wire
4 days ago
- Business
- Business Wire
Nordwand Capital Expands Senior Team with the Addition of Douglas DeLong
RADNOR, Pa.--(BUSINESS WIRE)--Nordwand Capital, a $4 billion multifamily office and registered investment advisor (RIA), today announced that Douglas DeLong, CFA, has joined the firm as Managing Director and Financial Advisor. Mr. DeLong's arrival further expands Nordwand's investment management and estate planning services for high-net-worth clients. Mr. DeLong brings over 20 years of experience advising wealthy families on customized investment and trust strategies. He joins Nordwand from Fiduciary Trust, where he was a Senior Portfolio Manager focused on comprehensive wealth solutions for multigenerational clients. He previously managed $700 million in client assets. "Doug has built a reputation for delivering sophisticated investment and estate planning advice with a high level of personal attention," said Jim Martin, CEO of Nordwand Capital. "He will play an important role as we continue to broaden our capabilities for clients with complex needs," added Ted Brooks, Nordwand's Chief Investment Strategist. Mr. DeLong will be based in Nordwand's headquarters in Radnor, Pa., where he will collaborate with the firm's growing advisory and client service teams. Nordwand is a member of the Dynasty Network, powered by Dynasty Financial Partners' integrated wealth management platform. "We're honored to support Nordwand Capital as they expand their team with exceptional talent like Doug DeLong," said Gordon Ross, Chief Client Officer at Dynasty Financial Partners. "His expertise aligns perfectly with Nordwand's commitment to delivering tailored wealth management services to sophisticated clients." This marks the second meaningful addition to Nordwand Capital's firm in the last several weeks, as the firm announced the addition of another senior financial advisor on May 6, 2025, as part of its continued growth and emphasis on deepening its investment and financial advisory services. About Nordwand Capital Nordwand Capital is a multifamily office and RIA serving wealthy families across the United States. The firm provides customized investment management, tax and estate planning, and philanthropic advisory services. With a deep commitment to its fiduciary responsibility, Nordwand helps families achieve continuity and clarity across generations. For more information about Nordwand Capital, please visit
Yahoo
30-05-2025
- Business
- Yahoo
First of two new agriculture transloading facilities breaks ground in Portsmouth
PORTSMOUTH, Va. (WAVY) — Leaders from The DeLong Company were joined by federal, state and local leaders to break ground Thursday on a $26 million project that'll take grains and feedstuffs from across the country and prepare them for international shipment. The Portsmouth Agricultural Intermodal Export Facility will sit on the former CSX Intermodal Yard at Pinners Point. The Wisconsin-based company is leasing the property from the railroad and using a $750,000 grant from the Commonwealth of Virginia to upgrade the railyard. It'll be the first facility of its type not only for Portsmouth, but also the East Coast. Unlike other transload terminals that receive agriculture products after trains drop off other cargo at rail yards, unit trains carrying exclusively grain will be able to pull in to the Pinners Point facility. Portsmouth to become 'international hub' for shipping of agriculture products, mayor says 'You achieve higher efficiency, better rates, so that's the big difference,' said Brandon Bickham, vice president of exports at The DeLong Company. Bickham said it was in 2023 when DeLong, CSX and the city of Portsmouth Economic Development Department began negotiations to locate in Hampton Roads. However, Bickham said DeLong has been working with the Port of Virginia for several years. 'There's a great local supply of grain, and we really wanted to tie a local supply with the Midwest origination area,' Bickham said. 'And this site, this port, allowed us to do that. We've had a great working relationship with the Port of Virginia.' Part of the development will include a 15,000-metric-ton storage silo and a 'grain leg' that'll rise to roughly 150 feet above ground. When a truck or train comes into the terminal, the soybeans, corn, wheat, DDGs or soybean meal will be transferred into shipping containers bound for Vietnam, Indonesia, Thailand, Taiwan and China. The facility is expected to handle 15,000 to 20,000 containers annually and help cut down on empty containers being placed on ships. Bickham said it's also expected to aid local farmers. Soybeans are the top agricultural export in Virginia, accounting for $1.4 billion in exports in 2023, according to the Virginia Department of Agriculture and Consumer Services. 'It should actually, improve [local farmers'] revenue,' Bickham said. 'So they'll have another grain bid. We should add value to the current price of grain.' Bickham said roughly 15 to 20 new jobs will be created by the export facility. This is the the first of two proposed facilities focusing on agribusiness in the city. Less than a mile away in Port Norfolk, Canadian-based Ray-Mont Logistics plans to do just the same at the Norfolk Portsmouth Beltline Railroad. Portsmouth to become 'international hub' for shipping of agriculture products, mayor says The pair of companies will join Perdue Agribusiness in Chesapeake in the exporting of grain. 'In Hampton Roads, we have a strong farming community in many of our cities,' Mayor Shannon Glover said. 'And so what this facility will enable them to do is to participate in moving their products to different markets. I think that's incredible. And I think it's something that shows collaboration, regionalism with a focus on helping our businesses to grow and prosper.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
23-05-2025
- Business
- Yahoo
If Trump gets his way, could iPhones made in the US really cost $3,500?
While iPhones have always been costly, experts agree a new tariff environment and pressure from President Donald Trump to make them in the U.S. are likely to drive their prices higher. 'I have long ago informed Tim Cook of Apple that I expect their iPhone's that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else. If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S.,' Trump wrote in a social media post May 23. Experts disagree, however, on how much of a price increase would result from tariffs and how long it could take before Apple starts manufacturing products in the U.S. More: Trump threatens steep tariffs on European Union goods, targets iPhones; live updates Dan Ives, global head of technology research at financial services firm Wedbush Securities, estimates iPhones could run consumers $2,300 when tariffs are taken into account – a significant increase from Apple's newest model's $1,199 price tag – but a far cry from the $3,500 he estimates it would run consumers if it was made in the U.S. Drew DeLong, who leads the Geopolitical Dynamics Practice at Kearney, a global strategy and management consulting firm, said a price increase of $100 to $200 after tariffs is more realistic. DeLong said, "If I put myself in Apple shoes, I would be less concerned about the reciprocal tariffs, given that they've been told that they're largely exempt from those," and more concerned with the ongoing U.S. investigation into imported semiconductors, a technology largely produced overseas and needed to make iPhones. If Apple shifts production to the U.S., DeLong said it will have the cost and availability of energy and skilled workers to consider. In this scenario, potential tax cuts and deregulation legislation could also affect the company's margins over the next few years, he said. To Ives, the idea of iPhones produced in the U.S. is 'a fairy tale that is not feasible." He said it would realistically take Apple five to 10 years to shift production to the U.S. While Apple has promised to invest $500 billion in the U.S. over the next four years, Ives said the investments are in primarily AI-driven initiatives. "We see no chance that iPhone production starts to happen in the US in the near-term given the upside down cost model and Herculean-like supply chain logistics needed for such an initiative," Ives wrote in a note. DeLong said it won't necessarily take Apple 10 years to bring a site online in the U.S., citing the company's plans to open a server manufacturing facility, which plays a key role in powering Apple Intelligence, in Houston, Texas, in 2026. "I can tell you from anecdotal conversations with folks close to the administration, they want projects built in these four years," DeLong said. During his first administration, Trump claimed Apple's CEO Tim Cook promised to build three plants in the U.S. At the time, the president granted the company tariff exemptions, but the company built zero smartphone factories in the U.S. during his first four years in office, according to multiple media outlets. Apple did not respond to USA TODAY's request for comment. In April, the Trump administration issued reciprocal tariff exemptions for smartphones through a presidential memo clarifying an executive order and updated guidance from U.S. Customs and Border Protection. Apple had already made plans to shift some production of U.S.-bound iPhones from China to India to mitigate tariff effects. On a recent earnings call, Apple CEO Tim Cook said the company aims to have the majority of iPhones sold in the U.S. imported from India before the end of this year. Nikolas Guggenberger, a law professor at the University of Houston, said Trump's comments on Truth Social May 23 serve as an announcement of his intention to do something, but not formal policy. 'It's just like the president could be giving a speech and announcing a new policy or intent to implement a policy,' Guggenberger said. 'He still needs to rely on formal channels.' Perhaps the most straightforward way for Trump to make Apple pay more tariffs for their iPhones, he said, would be for the administration to drop the reciprocal tariff exemptions for smartphones all together. But if Trump wanted to specifically target Apple, Guggenberger said the president could put tariffs only on smartphones coming from India, where Apple plans to manufacture most of its U.S.-bound product. Both strategies would also affect other phone manufacturers. Reach Rachel Barber at rbarber@ and follow her on X @rachelbarber_ Contributing: Reuters This article originally appeared on USA TODAY: Could iPhones really cost $3,500 if Trump gets his way? 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
Yahoo
23-05-2025
- Business
- Yahoo
If Trump gets his way, could iPhones made in the US really cost $3,500?
While iPhones have always been costly, experts agree a new tariff environment and pressure from President Donald Trump to make them in the U.S. are likely to drive their prices higher. 'I have long ago informed Tim Cook of Apple that I expect their iPhone's that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else. If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S.,' Trump wrote in a social media post May 23. Experts disagree, however, on how much of a price increase would result from tariffs and how long it could take before Apple starts manufacturing products in the U.S. More: Trump threatens steep tariffs on European Union goods, targets iPhones; live updates Dan Ives, global head of technology research at financial services firm Wedbush Securities, estimates iPhones could run consumers $2,300 when tariffs are taken into account – a significant increase from Apple's newest model's $1,199 price tag – but a far cry from the $3,500 he estimates it would run consumers if it was made in the U.S. Drew DeLong, who leads the Geopolitical Dynamics Practice at Kearney, a global strategy and management consulting firm, said a price increase of $100 to $200 after tariffs is more realistic. DeLong said, "If I put myself in Apple shoes, I would be less concerned about the reciprocal tariffs, given that they've been told that they're largely exempt from those," and more concerned with the ongoing U.S. investigation into imported semiconductors, a technology largely produced overseas and needed to make iPhones. If Apple shifts production to the U.S., DeLong said it will have the cost and availability of energy and skilled workers to consider. In this scenario, potential tax cuts and deregulation legislation could also affect the company's margins over the next few years, he said. To Ives, the idea of iPhones produced in the U.S. is 'a fairy tale that is not feasible." He said it would realistically take Apple five to 10 years to shift production to the U.S. While Apple has promised to invest $500 billion in the U.S. over the next four years, Ives said the investments are in primarily AI-driven initiatives. "We see no chance that iPhone production starts to happen in the US in the near-term given the upside down cost model and Herculean-like supply chain logistics needed for such an initiative," Ives wrote in a note. DeLong said it won't necessarily take Apple 10 years to bring a site online in the U.S., citing the company's plans to open a server manufacturing facility, which plays a key role in powering Apple Intelligence, in Houston, Texas, in 2026. "I can tell you from anecdotal conversations with folks close to the administration, they want projects built in these four years," DeLong said. During his first administration, Trump claimed Apple's CEO Tim Cook promised to build three plants in the U.S. At the time, the president granted the company tariff exemptions, but the company built zero smartphone factories in the U.S. during his first four years in office, according to multiple media outlets. Apple did not respond to USA TODAY's request for comment. In April, the Trump administration issued reciprocal tariff exemptions for smartphones through a presidential memo clarifying an executive order and updated guidance from U.S. Customs and Border Protection. Apple had already made plans to shift some production of U.S.-bound iPhones from China to India to mitigate tariff effects. On a recent earnings call, Apple CEO Tim Cook said the company aims to have the majority of iPhones sold in the U.S. imported from India before the end of this year. Nikolas Guggenberger, a law professor at the University of Houston, said Trump's comments on Truth Social May 23 serve as an announcement of his intention to do something, but not formal policy. 'It's just like the president could be giving a speech and announcing a new policy or intent to implement a policy,' Guggenberger said. 'He still needs to rely on formal channels.' Perhaps the most straightforward way for Trump to make Apple pay more tariffs for their iPhones, he said, would be for the administration to drop the reciprocal tariff exemptions for smartphones all together. But if Trump wanted to specifically target Apple, Guggenberger said the president could put tariffs only on smartphones coming from India, where Apple plans to manufacture most of its U.S.-bound product. Both strategies would also affect other phone manufacturers. Reach Rachel Barber at rbarber@ and follow her on X @rachelbarber_ Contributing: Reuters This article originally appeared on USA TODAY: Could iPhones really cost $3,500 if Trump gets his way? 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
USA Today
23-05-2025
- Business
- USA Today
If Trump gets his way, could iPhones made in the US really cost $3,500?
If Trump gets his way, could iPhones made in the US really cost $3,500? Show Caption Hide Caption President Trump threatens Apple and EU with tariffs President Donald Trump reignited trade tensions with back-to-back social media posts targeting the European Union and Apple. While iPhones have always been costly, experts agree a new tariff environment and pressure from President Donald Trump to make them in the U.S. are likely to drive their prices higher. 'I have long ago informed Tim Cook of Apple that I expect their iPhone's that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else. If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S.,' Trump wrote in a social media post May 23. Experts disagree, however, on how much of a price increase would result from tariffs and how long it could take before Apple starts manufacturing products in the U.S. More: Trump threatens steep tariffs on European Union goods, targets iPhones; live updates How much will an iPhone cost? Dan Ives, global head of technology research at financial services firm Wedbush Securities, estimates iPhones could run consumers $2,300 when tariffs are taken into account – a significant increase from Apple's newest model's $1,199 price tag – but a far cry from the $3,500 he estimates it would run consumers if it was made in the U.S. Drew DeLong, who leads the Geopolitical Dynamics Practice at Kearney, a global strategy and management consulting firm, said a price increase of $100 to $200 after tariffs is more realistic. DeLong said, "If I put myself in Apple shoes, I would be less concerned about the reciprocal tariffs, given that they've been told that they're largely exempt from those," and more concerned with the ongoing U.S. investigation into imported semiconductors, a technology largely produced overseas and needed to make iPhones. If Apple shifts production to the U.S., DeLong said it will have the cost and availability of energy and skilled workers to consider. In this scenario, potential tax cuts and deregulation legislation could also affect the company's margins over the next few years, he said. Will Apple shift production to the US? To Ives, the idea of iPhones produced in the U.S. is 'a fairy tale that is not feasible." He said it would realistically take Apple five to 10 years to shift production to the U.S. While Apple has promised to invest $500 billion in the U.S. over the next four years, Ives said the investments are in primarily AI-driven initiatives. "We see no chance that iPhone production starts to happen in the US in the near-term given the upside down cost model and Herculean-like supply chain logistics needed for such an initiative," Ives wrote in a note. DeLong said it won't necessarily take Apple 10 years to bring a site online in the U.S., citing the company's plans to open a server manufacturing facility, which plays a key role in powering Apple Intelligence, in Houston, Texas, in 2026. "I can tell you from anecdotal conversations with folks close to the administration, they want projects built in these four years," DeLong said. During his first administration, Trump claimed Apple's CEO Tim Cook promised to build three plants in the U.S. At the time, the president granted the company tariff exemptions, but the company built zero smartphone factories in the U.S. during his first four years in office, according to multiple media outlets. Apple did not respond to USA TODAY's request for comment. How could Trump target Apple? In April, the Trump administration issued reciprocal tariff exemptions for smartphones through a presidential memo clarifying an executive order and updated guidance from U.S. Customs and Border Protection. Apple had already made plans to shift some production of U.S.-bound iPhones from China to India to mitigate tariff effects. On a recent earnings call, Apple CEO Tim Cook said the company aims to have the majority of iPhones sold in the U.S. imported from India before the end of this year. Nikolas Guggenberger, a law professor at the University of Houston, said Trump's comments on Truth Social May 23 serve as an announcement of his intention to do something, but not formal policy. 'It's just like the president could be giving a speech and announcing a new policy or intent to implement a policy,' Guggenberger said. 'He still needs to rely on formal channels.' Perhaps the most straightforward way for Trump to make Apple pay more tariffs for their iPhones, he said, would be for the administration to drop the reciprocal tariff exemptions for smartphones all together. But if Trump wanted to specifically target Apple, Guggenberger said the president could put tariffs only on smartphones coming from India, where Apple plans to manufacture most of its U.S.-bound product. Both strategies would also affect other phone manufacturers. Reach Rachel Barber at rbarber@ and follow her on X @rachelbarber_ Contributing: Reuters
