Lufthansa Discontinues Service to Venezuela

Germany’s largest airline company, Lufthansa, has announced that it will no longer provide service from Germany to Venezuela. The company previously offered a flight from Frankfurt to Caracas three times a week, but the flight will no longer be available as of June 17. A company spokesman Jose Manuel Gonzalez cited the challenging economic situation in Venezuela as the primary reason for the suspension. The primary problem for Lufthansa is that the Venezuelan government currently imposes currency controls that prevent airlines from transferring foreign currency out of the country. The spokesman also noted that the company has had trouble transferring currency into US dollars.

Lufthansa according to Gonzalez is not the only airline to discontinue service to Venezuela this year. In February, the Brazilian carrier GOL Linhas Aereas stopped offering service from Sao Paolo to Caracas for the same reasons that Lufthansa is suspending its flights to Venezuela. Other airlines, including Air Canada, American Airlines, and Delta Airlines, have also greatly reduced or discontinued flights to the struggling country since 2014.
What the suspension means for Venezuela remains to be seen. The economic situation in the country appears to be deteriorating, given the current food shortages and the low price of oil. Lufthansa’s decision to discontinue flights may further isolate the country from the global community. Nevertheless, some carriers, such as Air France and Aeromexico, will continue to offer flights to Venezuela, so the market may just shift to other airlines.

 

Bellamy By Brian Bonar Sticks To San Diego Tradition

Bellamy by Brian Bonar sits right in the middle of Escondido, and it is a place that Brian Bonar wants people all over San Diego to try. He believes in serving the best food from some of the best recipes in the world, but he wants to do so in a place that makes people feel like they are sitting in a place stuck in time, He is going to be able to make it easy for people to have a good time when they come downtown, and he is creating a new place out in the country that will be even nicer.

Bellamy is named just like a lot of the other places in the area, and he wants it to feel like it has been there since the city was founded. The name fits right in, and Brian Bonar serves food that most people would only find at places that require a coat and tie.

He took away the coat and tie, and he replaced it with an ambience that people find relaxing because it is a simple place to come and have a bite to eat before moving on with the rest of their day.

Mr. Bonar wants to put a really nice ranch out in the country where he is going to put his best kitchen and chef. He is setting an empire of places to eat that people will love, and he wants the ranch to be a place where people can go to events.

Being able to go to events something that makes food taste even better, and Brian could begin farming on the land if he wanted to. He is going to keep his options open, and he is going to stay true to what people value in the San Diego area.

San Diego is a quiet city that tries to remain as calm as it can. San Diego wants to maintain its image as being the biggest city in America that can still have fun, and Mr. Bonar likes the fact that it is so laid back where he lives now that people will come into his restaurant and hang out.

San Diego Magazine He has a lunch crowd that is great, and he has a dinner crowd that is just as good. Some people come to the bar, and other people come because he has the best European food anywhere.

San Diego gets better every time Mr. Bonar opens a new place. He is making downtown Escondido look great, and he is opening a ranch that will accommodate anyone. He is using his Scottish roots to build an empire in the San Diego area, but he is fitting right in. His love of the area is obvious.

Alexei Beltyukov’s Impeccable Career as an Investment Manager

Alexei Beltyukov is a successful Russian businessman and philanthropist. He a graduate of the INSEAD Business School where he enrolled in 1995 and graduated from in 1997 with a masters in business administration. Since graduating, Beltyukov has established a number of ventures that have gone on to be industry leaders. Some of the businesses include New Gas Technologies, A-Ventures, Endemic Capital and Solvy.com. SOLVY is Beltyukov’s latest enterprise.

At A-Ventures, Beltyukov is in charge of the firm’s operations. It has over $400 million worth of assets under its management. Beltyukov established A-Ventures to support struggling firms in Russia. The support is achieved through financial assistance mostly during times of difficulties. He created New Gas Technologies to deal with the use of associated petroleum products. In 2013, he formed Endemic Capital to offer angel funding to startups in Russia. To date, the firm has helped many startups manage to realize their objectives through adequate funding.

From 2004 to 2006, Beltyukov served as the executive director, CEO, and board member for Renova in Russia and Latvia. His duties in the company included rationalizing the investment portfolio, asset acquisition and disposal, turnaround management, equity stakes consolidation, and business restructuring. While at Renova, Beltyukov closed 27 deals and had a 78% return on equity per year. The companies that were under his direct supervision consisted of a commercial bank, pension fund, insurance company, airport, brewery, sea port, and real estate developers.

Beltyukov also served as the president in charge of strategy and business development at Brunswick Capital between 2003 and 2004 in Russia. He launched a rail car leasing venture called Brunswick Rail Leasing that is presently ranked among the top 3 in the industry with a fleet of more than 10,000 rail cars. In one of their books, Kearney partner described the establishment of the business as a success story.

Additionally, Beltyukov has on numerous occasions worked with the Russian government to offer economic support and guidance through the Skolkovo Foundation. At the foundation, Alexei serves as the vice president. The foundation offers grants as well as opportunity for technology startups and entrepreneur that want to expand their businesses throughout Russia.

Beltyukov is a believer of broadening horizons through continued education. In April 2015, he launched his latest venture, SOLVY, in Los Angeles, California during the Educator Day at the EdSurge’s tech conference. SOLVY is an online homework platform for high school students. It offers the students and teachers a variety of relevant subjects. The teachers are able to track a particular student’s progress when cracking a math problem. SOLVY also allows a student to get immediate feedback and enables teaches to identify the areas of student weakness. The platform does not provide multiple-choice answers in order to allow students make mistakes and learn from such mistakes.  Follow Alexei on Twitter as he often talks educational platforms, and what’s next for the companies he helps to manage.

Medical Employment Made Easier by Brian Torchin

As the owner and president of HCRC Staffing, he understands the importance of helping doctors find gainful employment. He worked as a medical professional in the area of chiropractic medicine. For many years he had first hand knowledge of how hard it was to find doctors and other medical professionals jobs in the area they wanted. He started HCRC as a way of bridging the gap in medical employment. By allowing medical professionals and hospitals to connect, they could network and make finding employment easier.

Based out of Philadelphia, HCRC Staffing’s mission is to combine years of medical knowledge as well as staffing knowledge to great an advanced hiring standard that is coupled with ethical, direct, consultive, and detailed approach. His resume shows that Torchin managed medical offices in Pennsylvania, Delaware, and Florida so he was familiar with the difficulty of finding medical personnel. He started staffing his offices and then expanded into staffing for others. This brought about the development of HCRC or Health Care Recruitment Counselors.

With years of working tirelessly for his own medical profession and companies, he was a perfect candidate to start a staffing company that worked mainly within the medical profession. He had extensive knowledge and a large data base because of the years he spent working. It was easy to develop a larger data base because of his connections throughout the years. Seeing an opportunity to help the profession he loved, HCRC was born. Anyone who needs a job or is in need of hiring a qualified employee can tell you it takes time and great management skills to weed through the hiring process. Brian Torchin took the hard work he had already done, and developed a way to reach more medical professionals and facilities so that they could hire and employ the candidates needed to get the job done.  Brian’s Twitter has even more information.

U.S. Money Reserve: The True Cost of a Penny

In a CNBC Squawk Box interview with the U.S. Money Reserve president, Philip Diehl, the question at hand was not whether the U.S. penny was too expensive to continue producing, but whether or not the discontinuation of the coin would distort and perhaps even press inflation further. Diehl states that the aforementioned argument is one that has been made for the last 25 years by penny lobbyists, among whom have private interests in the production of the penny; Zinc manufacturers, since pennies are comprised of 97.5 percent Zinc, and the Illinois Congressional Delegation, for the use of Abraham Lincoln’s image, are the primary lobbyists pushing for the penny to remain in production. The fear of distortion and/or inflation persisting do due the suspension of the penny comes into question mainly in the sale of goods, where consumers feel that companies will choose to round up their prices. Diehl argues that with the state of the current market price, companies are well within their means to raise the prices of goods now. Diehl suggests that companies are more likely to round prices down to avoid “…irritating the customer for a penny” (P. Diehl, CNBC Squawk Box, December 30, 2015). With 75 percent of all transactions being in an electronic format, rounding down prices would only affect a small portion of the 25 percent cash transactions.

Would the American people really mourn the loss of the penny, when millions of them are thrown away on a daily basis? Is it worth producing a coin that pays less than minimum wage to stoop down and pick up off the street? Many hold sentimental value to the penny, but by removing the penny from production, the U.S. Reserve would save 105 million dollars, which is a small savings in capital when compared to the nickel, which costs well over five cents to create. However, Diehl states that there is a better opportunity to reconfigure the composition of the nickel to make it profitable or close to profitable. It is clear that efforts have been made to preserve the coin, but “…the penny is beyond hope…it has outlived its usefulness for over 25 years” (P. Diehl, CNBC Squawk Box, December 30, 2015).

 

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