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Irish Times
8 hours ago
- Business
- Irish Times
Aircraft leasing executive Paul Barton left €17.5m estate
Aircraft leasing executive Paul Barton left an estate valued at €17.5 million when he died last September, according to documents published by the Probate Office this week. Mr Barton, of Waltham Terrace, Blackrock, Co Dublin, was managing director of GE Capital Aviation Services , the world's largest commercial leasing and financing company by number of aircraft, before a €25 billion deal with rival AerCap saw the world's two biggest aviation leasing companies join forces in 2021. Mr Barton, who was a founding director of Avolon , another major aircraft leasing company, began his career with Tony Ryan's Guinness Peat Aviation in 1985. In other grants of probate published last week, Josephine Buckley, of Annakisha, Mallow, Co Cork, who died on March 17th, 2022, left an estate valued at €5.9 million. READ MORE Jeremiah Anthony Roynane, of Lavally, Mallow, Co Cork, left an estate valued at €4,281,419 when he died in November 2023. Julian Deale, of Monkstown Road, Dublin, left an estate valued at €2.212 million when he died on May 16th, 2024. [ Wills and spouses: Why you cannot just cut a wife out of your will Opens in new window ] Bridie Brady, of Mount Prospect Avenue, Clontarf, Dublin, left an estate valued at €2.185 million when she died on May 20th, 2024. Paul Kennedy, of Cartown House, Kildimo, Co Limerick, who died on November 2nd last, left an estate valued at €1.89 million. The figures mentioned here include all assets, which would typically include a home or farm and are not intended to represent cash in the bank.
Yahoo
11-06-2025
- Business
- Yahoo
Burnout Recovery Meets Creativity in Innovative Business Model on The Burnout Club with Patrice Bonfiglio
Matthew Smith, Founder of Kicksmith Studios, brings sneaker customization to Norwalk, CT with a focus on creativity, community, and balance. Patrice Bonfiglio, left with guest Matthew Smith, right Beverly Hills California, June 11, 2025 (GLOBE NEWSWIRE) -- Matthew Smith, a financial executive with experience at GE Capital, Bridgewater Associates, and Columbia Bank, has launched a new creative business. He is the founder of Kicksmith Studios, a sneaker customization studio located in Norwalk, Connecticut. Kicksmith Studios operates on a paint-and-sip model. Participants create custom sneakers in guided sessions. Events include children's parties, corporate team-building, and adult social nights. The studio serves a diverse customer base across age, gender, and background. Smith has collected over 500 pairs of sneakers. He started customizing his own designs years ago. He launched the business during a break between finance roles. He wanted to build something meaningful, creative, and sustainable. His goal was also to create jobs and provide a new experience for the community. 'My kids see this business. They help with the design. They wear the merch. It's real to them,' said Smith in a recent episode of Burnout Club, hosted by Patrice Bonfiglio. Smith co-founded the studio with longtime friend Greg Self. Self runs daily operations. Smith remains focused on his finance career and family. The studio operates independently with a trained team. The studio also partners with schools and nonprofits. It gives children and families a place to explore art and creativity. Participants leave with wearable art and a sense of pride. 'The most rewarding part is watching people discover they are creative,' said Smith. 'Even those who say they aren't always leave excited about what they made.' Smith credits his success to discipline and clear priorities. He encourages others to listen to themselves and take breaks when needed. 'Burnout is real. But so is recovery. Sometimes you need to pause to move forward,' he said. Watch the full episode on Youtube. About The Burnout Club Podcast The Burnout Club Podcast is a community-driven platform that explores the intersection of professional success and burnout. Hosted by Patrice Bonfiglio, a seasoned hedge fund executive with nearly two decades of experience, the podcast delves into the realities of burnout in high-pressure environments. Media Communications: Inquiries: AdamTorres@ Attachment Patrice Bonfiglio, left with guest Matthew Smith, rightError 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
28-05-2025
- Business
- Yahoo
BMO's Q2 earnings show no improvement in credit conditions for trucking
The improvement in trucking credit conditions seen in the first-quarter earnings of Canada-based bank BMO came to a halt in the second quarter, with only a few signs of a strengthening market alongside other numbers pointing to more deterioration. BMO (NYSE: BMO), the former Bank of Montreal, is a major lender to the trucking industry. Its quarterly earnings break out results for various sectors, including transportation, which is believed to be more than 90% lending to trucking companies. Its credit results are seen as a sign of broader lending conditions in the trucking sector. BMO's fiscal year begins Nov. 1. The latest report is for the second quarter, ended April of the more notable statistics in the report was the figure for gross loans and acceptances in the transportation group. That is the size of the bank's book of business in the sector before deducting loan loss reserves. That number fell to $14.06 billion, down from almost $14.9 billion in the prior quarter. It's the lowest figure since the fiscal first quarter of 2023, when it was less than $14 billion. It could be a one-quarter aberration or may signal a reluctance to lend on the part of the bank, which does not comment on the results, except occasionally on earnings calls with analysts. The contrast between the latest gross loans figure for BMO's transportation sector is particularly stark in comparison to the more than $15.6 billion it posted in the fourth fiscal quarter of 2023. The biggest number suggesting conditions are not improving in trucking were that gross impaired loans and acceptances soared to $503 million, up from $410 million. This is easily the largest figure in the history of BMO data, which dates back to when the bank acquired the transportation lending operations of GE Capital in late illustrate the contrast between current conditions and the peak of the post-pandemic trucking boom, gross impaired loans in the third fiscal quarter of 2022, which ended in July 2022, were $72 million. An impaired loan has been defined as one for which a lender is unlikely to collect all the monies due, including principal and interest. After reserves are accounted for, net loans and acceptances for the transportation sector was just under $14 billion, down from $14.82 billion in the prior quarter. There were small areas of improvement. Allowances for credit losses were $57 million in the quarter, down from $61 million one quarter earlier and $68 million the quarter before that. A year ago, in 2024's second fiscal quarter, allowances were $24 million. Provisions for credit losses rose to $45 million from $44 million. Provisions showed a significant improvement in the first quarter, declining to $44 million from $85 million. A year ago, they were $56 million. Allowances and provisions are charges taken by a bank to reflect loans with performance issues. Allowances hit a bank's earnings, while provisions are charged against its balance sheet. Net write-offs were $41 million, down from $46 million. The recent peak was $63 million in the fourth quarter of fiscal 2024. More articles by John KingstonGeorgia tort reform aims to change practices in judicial 'hell hole' Double whammy for Wabash: 2 key agencies cut debt rating on trailer builder Despite red ink at Heartland, Morgan Stanley report relatively upbeat The post BMO's Q2 earnings show no improvement in credit conditions for trucking appeared first on FreightWaves.
Mint
24-04-2025
- Business
- Mint
What analysts miss in concalls while chasing guidance
The Indian markets have bounced back impressively over the past two weeks. A pause on reciprocal tariffs , helped fuel this rally. But it's not the time to get carried away. There's still a lot in flux. Rather than chasing potential winners in a global trade shuffle, we're focusing on businesses that are more insulated from political drama. And while smallcaps had a great week, we would advise against getting overexposed. Stick to your asset allocation, stay selective, take a slow, staggered approach, and respect the margin of safety while buying stocks. In markets like these, protecting your capital is just as important as growing it. The markets now seem to be getting over the tariff blues, and focusing on earnings season . The result season is the busiest time for analysts. It keeps them occupied with year on year and sequential growth, deviation analysis, and extrapolating future performance based on what happened in the quarter. They also ask bookkeeping questions to the management and pressure them to give growth guidance during conference calls or concalls. These concalls with the managements offer a great opportunity to get a sense of their vision, to assess their transparency when the going gets tough, and their focus and priorities–long-term sustainability or short-term targets. These calls can help analysts understand the broader industry environment and the company's competitive positioning. However, such concalls also have some limitations. They can defeat the purpose of better understanding and analysis of the business when the analysts resort to upgrading target prices and valuation multiples based on a single quarter's performance or when they take management's guidance too seriously. But this quest for precision and the short term obsession can be futile and farcical. GE (General Electric), along with its superstar CEO Jack Welsh, is a case in point. Under his leadership, GE's business was driven by short-term targets. Perform or perish was the guiding mantra. Obsessed with Wall Street's earnings expectations, the company met and surpassed consensus estimates every quarter for almost a decade (1995-2004). And the stock price followed. However, this growth came at a huge cost and with accounting gimmicks, as the subsequent years revealed. In the pursuit of growth led by acquisitions, the company became too big to manage or be nimble. Its unregulated finance arm– GE Capital–that lifted the performance - turned out to be the biggest chink in the company's armour. When the subprime crisis struck, the credit market dried up. The money-spinning finance arm thus became its undoing. Sharing lofty guidance, even meeting them in the short term, did not help the business or its investors. Some businesses are owner-operator driven, where managements neither offer nor falls for this bait. Then there are appointed managers who love to spew out quarterly guidance. Always be cautious of the precise ones in the short term. The pressure to meet them and street expectations is one of the biggest reasons for poor capital allocation decisions. A company may still meet short-term guidance and dole out to the concerned appointed manager his short-term performance-linked incentives. However, this does little good for the business in the long term. You could deploy the best of forecasting skills, and top them up with fancy DCF analysis, but a business won't follow the trajectory as projected in excel. Throw in a bit of Red Sea crisis, a pandemic, a war, a liquidity surge, or a regulator suddenly coming up with a ban, or a whimsical president... and it won't matter how much precision you were working with. It's best to be humble in this profession and aim to be roughly right than precisely wrong. That includes admitting that no matter how hard we try, not all the variables can be factored in precisely. There will always be 'known unknowns' and 'unknown unknows' in practice. Instead of trying to be accurate about that percentage point in growth or margins, it's better to assess if we are investing in the right management team that's operating in the right industry from an investment perspective. In fundamental analysis, one needs a sense of the trajectory. But the focus should be more on the expected direction, understanding the downsides, and ensuring a margin of safety. Focus on what's important–the industry or opportunity size, potential downsides (including from tariffs), balance sheet quality, and the management quality. Also, keep in mind the time horizon of the investment and your personal asset allocation. Finally, welcome volatility and uncertainty. It's what is not yet known and factored in, that provides opportunities to outperform the market. Happy Investing. Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. This article is syndicated from
