Knickerbocker Village: Paul Solman Explains Hedge Funds

Wednesday, December 19, 2007

Paul Solman Explains Hedge Funds

I still have no clue

2 comments:

Anonymous said...: This is not a comment on the NewsHour piece of mine posted on your website, but on KV, which I visited in the past year with my then-98-year-old dad, Joseph Solman. I wheelchaired him all the way up to our old apt. -- 12F, 40 Monroe -- but we only made it to the front door. My dad was delighted with the trip, though.

Joseph Solman was a quite famous artist who passed away in April. (Obits are all over the web, including a few from England, and many examples of his work. My own eulogy can be seen at http://www.pbs.org/newshour/bb/remember/jan-june08/solman_06-13.html)

Four of us -- my dad, mom Ruth, sister Ronni and I -- lived in KV from 1945 to 1952, as did my grandparents (until 1962: Aaron and Essie Romanofsky) and various aunts and uncles.

I later became friends with two KV alums I hadn't known while living there: Michael Meeropol and the Harvard economist Marty Weitzman. All 3 of us were patients of the KV pediatrician George Bernhardt.; July 19, 2008 at 7:41 PM
Anonymous said...: The url for the Joseph Solman eulogy on the NewsHour website doesn't seem to copy into your format. Those interested can simply Google his name in quotes, and mine.; July 19, 2008 at 7:43 PM

Knickerbocker Village and Environs Roll Call

Aaronson, Tillie, Elaine and David
Babits, Seth, Rose, Linda, Jane, Marly, Trudy (Olivia)
Barone, Sal, Millie, Joseph and Marisa
Bellel, Sol, Eva and David
Berger, Dirk
Birnbaum, Jeffrey, Bonita and Elinor
Bloch, Ilene and Joel
Boodman, Frank, Clara, and Norma (Petillo)
Brokowsky, Dave, Bessie, Stewie, Lenny and Sharon
Bronstein, Marty, Paul and Vivienne
Bueller, Hy, Pearl, Nancy, and Beer, Rubin and Bella
Byrd, Morton
Center, Bruce
Chan, Wai Yee (Lau) and family
Charen, Walter and Mona
Cohen, Jerry, Norma and Robert
Cohen, Leslie
Cohen, Mildred, Florence and Larry
Dolinko, Harry, Lil and Barry
Engel, David and Michael
Epstein, Claude and Sherwood
Farber, Glenn
Farbstein, Steven and Ellen
Feigenbaum, Ethel and Beryl
Feinberg, Denise
Feuerstein, Lee
Fradella, Charles and Anthony
Gentile, Nancy
Glass, Mark
Hammel, Valerie and Barbara
Hellman, Sol, Mollie, Neal and Billy
Hieger, Ida, Paul, Marcia and Robert
Hyman, Eli, Marie, Marty and Angela
Karney, Jack, Eva, Barbara, Eva and Richard
Karoly, Steven
Katz, Eddie, Joey and Evelyn
Kefer, Charlie, Rita, Paul, Marvin, Lawrence (Lorry)
Kuperstein, Joe, Bernice, Marvin, Jerry and Harvey,
Leder, Renee
Leef, Joseph, Teddy, Emanuel and Martha
Lehrer, Michael
Leibowitz, Joe, Helen and Stephen
Levine, Joe, Paul and Blanche Riesel
Levy, Larry and Lee
Magro, Camille
Maldonado, Joey
Marcinkus, Sophie
Margolin, Bruce
Merrill, Nancy, Patti and Buddy
Meyer, Lewis
Milgrim, Ruth, Marty and Eleanor
Nathanson, Moe, Phyllis, Bob and Jeffrey
Needle, Phil, Florence and Steven
Nelson, Libby
Orvis, Cookie
Pappas, Milton, Ruth, Tina and Paul
Pelly, Walter, Ethel, Steven and Susanne (Spitzer)
Persoff, Nehemiah
Peter Levine and mom Elaine Levine
Reggie Sr. and Jr., Dorothy and Scott Ingram
Reverend Younger and Dana, Judy and Dodi Younger
Robert Orage
Robert Wilson
Robert, Tom and Helen Simmons
Romig, David and Michael
Romm, Sam, Roslyn and Paula (Sanderson)
Rosenberg, Julius, Ethel, Michael and Robert
Sam, Kate and Marty Michelson
Schefflin, Rubin, Bertha , Murray, Mart and Beth,
Schumer, Nat, Susan, Stuie and Mark
Shue (Lee), Alison
Silverstein, Sam, Yetta, Allan and Howie
Siniawer, Paul
Sklar, Ira and Marty
Sonnenblick, Debbie and Arlene
Sosinsky, Meyer (Mike), Natalie, Joel, Ron and Bill
Strassberg, Richard, Peter and David
Stutz, Sandy,Sylvia, Sheila (Grey) and Sydelle
Susan Bonnie, Melanie, Walter and Diana Miller
Toby, Eddie and Mark
Vincent Hatchett
Weiner, Barry and Richard
Wynshaw, Gary and Carol
Zane, Mike and Steinfeld, Nathan, Florence and Lillian

Roll Call (Annex)

Adamondo, Vinny
Alejandro, Carlos
Austin, Sheldon
Baez, Jorge
Baldimere, Tony
Bambace, Frank
Baumann, Jay
Benjamin, Morris
Berkowitz, Mindy and Mr. and Mrs. (Helen)
Bliey, Ernie and Ronnie
Bloom, Burt
Bologna, Joe, Angie and Camille
Bonilla, Jimmy
Bonvesio, Peter
Brick, Stewie
Bruno, Joe
Burak, Artie
Cantarella, Richard
Cavazis, Mary
Cianguilli, Leonard
Ciarcia, John "Cha Cha"
Citron, Florence
Cleaves, Ronnie
Cohen, Jack and Sara (owners of the K&K)
Cohen, Murray, Stella, Reyna and Mitchell
Dans, Peter
Davis, Marty
Dolnansky, Dorita, Bernard, and Gerna
Donato, Connie
Ebert, Lois, Pearl and Jerry
Eddie Flannery and Spina
Egan
Embarrato, Alfred
Fannie and Aaron Rosenberg
Fat Georgie and his sidekick Kenny
Gershenson, Clara and Barbara
Givner, Gary
Goldfield, Mark and Abby
Goldman, Ross
Graff, Teddy
Gratz, Eugene
Greenfield, Anne, Ben, Doris and Myrna
Gromer, Irving, Carolyn, Clifford and Susan
Grossman, Marty
Guma, Steve, Rory, Carole and Danny
Guralnick, Alma, Irv, Sandy and Debra
Hamilton, Francine
Hanana, Sam, Sonia and Gerry
Henry and Julius from Mariner's Temple
Horn, Peter
Jackson, Dudley
Judge Leonard Sandler
Judge Pat Picariello
Kaplan, Chester, Lester and Kenny
Kaplan, Roy
Kline, Stewie
Kramer, Norma and Susan
Lackow, Hyman, Ann, Alan, Burton, and Arlene
LaGrippo, Richie
Lamula, John and Lou
Lehrer, Michael
Leinweber, Abe, Alice and Merilee
Levy, Barbara
Lieber, Stephen
Liebowitz, Harry , Rheba and Larry
Lifavi, John Sr., Nicolena and John
Lutz, Paul
Magro, Camille
Manus, Kathy and Steven
Martinucci (Motts), John
Maruffi, Dennis and Cecelia
Meyer, Melvin
Milano, Anthony
Mildred, Arnold and Michelle Feller
Miller, Debbie and Cynthia
Miller, Robert
Mirra, Anthony
Moderano, Geraldine
Molk, Miriam
Moloff , Abraham, Lily, Paul and Helene and Fanny Zirinsky
Morales, Alexander
Morris, Chalres
Moscarella, Joey
Mosco, Frank, Joe, Frank J., and Vincent
Mr. Sumpter, Mgr. of Mariner's Temple
Mullarky, Tommy
Murphy, Geraldine
Nick, Carol Sue
Olshewitz, Mitch
Owens, Billy
Paladino, Rosemary
Palumbo, Bobby and John
Patrolman Anthony Manisera
Perro, Frank, Lorraine and Michelle
Polizzi, Len
Puhn, Laurie
Rabbi Dick
Rabbi Schron
Ramsey, Cal
Randazzo, Steven
Raskin, Judith, Lisa and Jonathan
Reiser, Eugene
Ricco, Marty
Riska, Rudy
Rosenthal, Rachel
Rothman, Jacob and Mary
Rothstein, Denise, Dawn and Seth
Rothstein, Ettie, Herb, Dawn, Denise and Seth
Ruggiero, Benjamin "Lefty"
Samuels, Esther
Sassi, Frank and Nancy (Ruggiero's Bakery)
Scarna, Joseph, Carl, and Robert
Schneider, Irving, Ida, Michael, Mark, Judith and Howard Schneider
Shannon, Oliver
Simmons, Margo
Sing, Nancy, Susan, Lisa, Bruce, Donald and Celia
Singletary, Donald
Sirlak, Barbara
Solman, Paul
Steinberg, Lynn
Sudberg, Vivian
Tarsio, Tommy "Red"
The Lepkoff Family
Thieke, Chris and Steve
Tinkle, Jackie
Tomasulo, Pat
Tosto, Al
Trazino, Richard
Trichter, Linda
Tsimbinos, Spiros
Urban, Michael (son of the Ref)
Venturato, Larry and Anthony
Warbet, Steven and his mother Peshie
Weisberger, Robert, Essie and Morton (White)
Weitzman, Martin
Wenig, Sarah, Esther, Arnold and Manny
Wolfson, Esther Rose
Zai, Esther
Zaretsky, Steve
Zucker, Carol, Murray and Agnes

PS 177

Aaron Werner
Abe Dasher, Asst Principal
Bernice Apat
Beverley Feuer
Carolyn (Friedman) Jonas
Eleanor Lippman
Esther Lapping
Frances Lizzio
Ida Handwerker
Klara Apat
Lillian Lebergott
Lillian Peck
Lynn (Greenblatt) Gold
Meryl Glass
Miss Bosser
Miss Fauci
Miss Harris
Miss Vigilante
Mr. Gregor, Principal
Mr. Marks
Mrs. Fels
Mrs. Grant
Mrs. Horowitz
Mrs. Meyer
Mrs. Perrins
Mrs. Smith
Mrs. Sorkin
Mrs. Wachpress
Ms. D'Alessandro, Principal
Ms. Feldman, Admin Asst.
Rhoda Sorkin Lansky
Sheila Shankman
Shirley Stellman
Sol Press, Principal
Tessie Miller
Ursula Decker

KV Shopper"s Delight of Yesteryear

A&P
Brokowsky's Fruit Market
Carvel's
Club Lunch on East Broadway
Dave's Grocery on Monroe Street
Dolinko's Haberdashery
Dora's Bar
G & S Sports
Gerna's, a children's clothing store On Catherine St, owned by the Dolnansky family
Gogel's
Guss' Pickles
Haber's
Hanscome's Bakery
Harry Lociscero's "Ring a Bell" Insurance
Honey's, everybody's favorite schlock store on Catherine St, Honey's husband was Cappy
Jerry Cohen's Gulf Station on Forsythe and Division Street
Jimmy's (Jim JIm's) Comic Book Store
K&K
Kremo's
Lasky's Shoes
Lichee Wan
Log Cabin Bar And Grill
Lou and Willie's" Deli was actually called "Persky' on East Broadway. Willie Roenberg was one of the owners.
Moltisante's and Ruggerio's Bakery
Moochie's Bar
Nathan's House Furnishing
Normandie Pharmacy
Nunzio's Pizza
Pete's Hero King
Pete, (then later) Joe's Candy Store
Pete, The Barber
Ramos' Bar And Grill
Ref's Luncheonette
Rocco's Meat Market (Catherine Street)
S. Scalogna And Son Meat Market
Sal's Candy Store
Sam's Delicatessen on East Broadway (Sam Kochkonichka ?)
Saperstein's
Savoia
Sonnenblick's (family that owned it) Kosher Deli on Market Street
St. Joseph's Bakery
The Automat
Weisberger's Shoe Store

Deep Thoughts

#1. Annie Dillard talks about her fascination with science and minerals in particular. Then she goes on to details anecdotes concerning various Americans who became obsessed with the possibility of discovering valuable or interesting mineral deposits or rock formations within or close to their home environments. She speaks about men - almost all these scientific minded people are male - who discover veins of coal, copper, bauxite, and so on. She depicts the ordinariness of their fascination and the fact that it tapped into the extraordinary. Like nature had these incredible finds waiting to be unearthed all around. People who could see the worth of what was all around them or, in some cases, beneath them, excavated and found, just beneath the surface of their obsessive preoccupations, depths of riches and fascination. So in exploring the history of KV we go back into what had been the ordinary and find it layered in a criss-cross of historical significance. A transmutation of the lung block, redeemed as a bold social experiment tinged with ambitions as immodest as a revolution and as commonplace as sandwiches - ordinary though it may be but still - the most delicious sandwiches of the twentieth century. Buried beneath the surface of the KV heritage are connections to so may aspects of our culture and NYC's greatness as to be not only unfathomable but irrefutable. Do you know what I'm saying here?

Son Of Salvatore

"Speak, KV Memory" by Vladimir Babokov and Guests

Yes. I was thrown out of the Canal theater a number of Saturdays for rolling on the floor, in the aisles laughing. I think one of the movies that prompted my gaiety was "Psycho" - the shower scene. What can I tell you? I guess I wasn't tuned into the mood. At the time. Also saw many rock and roll movies at the Canal, Elvis films and the Murray the K fests. Saturday I often would go there with Joey Maldonado and his cousins. We would load up on candy by the quarter pound from that obscure bakery that was just around the corner on Madison Street, quarter block from Catherine - around the corner from the Brokowsky's fruit store, Gogol's and the pharmacy on the corner. Next to the newstand. Remember? By the bus stop. See what I'm saying? (In your mind, can you see it?) Bakery had golden and tan tile design but couldn't hold a candle to Savoia. No marble floors either.

guest memorist Howie:
the first movie I ever went to was at the Tribune Theatre (near City Hall, now by the site of Pace University), a Disney cartoon 'Lady and the Tramp', also remember going there with Ronnie, David and maybe Paul, think it was '62 to see 'Safe at Home' starring Mickey Mantle and Roger Maris....I saw 'The Time Machine" with David at the Canal theatre in 1960 (academy award to George Pal - special effects), we were so taken by the notion of time travel that we proceeded to go home and build a time machine...somehow we got hold of some wood, nails, rope and wheels..after a couple of days the time machine started to take shape although it looked remarkably like a pretty decent scooter so we decided it needed a safe haven and hid it in a pit on Monroe St...one that we were able to climb...on the third day the time machine was stolen from the pit...we never saw it again...probably in the year 3000 by now..

guest memorist Neal Hellman on BLT's (the non Ref Luncheonette variety)
A great B.L.T. is a complex eatable symphony. One in which all the parts maintain their individuality, yet at the same time, surrender their tasty nuances in the true spirit of gastronomic gestalt and dwell as one.This equinox I choose Sumano's Bakery Ciabatta bread. Though I was skeptical about it's naked, pale texture, I felt it would toast up well and its many crevices would add some fun places for the mayo to go.With the mayonnaise choice I have to stay with tradition and of course go with Hellmann's though for some reason it's known west of the Mississippi as “best foods”. Please do not waste my time with this hippie safflower oil concoction or some other type of healthy alternative. For when it comes to mayonnaise for my Ultimate B.L.T. there is no east or west, there is only Hellmann's…. case closed.
My ingredients are now all together, but the intense work has just begun. For now without the correct timing and the correct application of all the ingredients, my ritual could easily plummet into a spiritual abyss. All ingredients must sit together (as one) at room temperature as I invoke the spirit of all the great B.L.T. makers in all the luncheonettes in the greater metropolitan area of New York. I heat my cast iron skillet (using a Teflon pan would be heresy) to a comfortable medium heat. I lay the bacon down 4 strips per sandwich and as I do the strips greet the metal with a friendly sizzle “hello”. As they are slowly cooking I cut the tomato's, neither too thin or too thick and lay them down ever so gently on a plate to await their glorious marriage. The lettuce has been carefully washed and spun with all traces of ribs removed. The mayonnaise jar is open and waiting to join this eatable canvass.
Once the bacon is turned the toast swings into action. It has to be brown all the way but with no traces of crusty darkness.As the toast is finishing I remove the bacon and pat it down with a paper towel. Now it's time to assemble my edible equinox creation. Mayo on both pieces of toast, then the tomato's and I prefer the lettuce between the tomato and the bacon, for I feel it's texturally more secure that way. I don't want an immediate confluence of tomato and bacon; I like the lettuce to work as a buffer. Here's where many folks really go askew: they push the bread down so hard that the bacon is crushed. No, no a thousand times no. One must gently, ever so gently caress the concoction together. After which one will take a sharp knife and make a diagonal cut. A straight cut is what people from small towns in Nebraska and Ohio do. Those of use who are members of the B.L.T. illuminati always make a diagonal cut. The masterpiece will then be placed on a plate and then consumed in a way as to enjoy the warm and crunchy (yet still pliable) bacon, the exploding sensation of a dry farm Molino tomato, the juicy lettuce, the condiment-ing mayonnaise and ever so supportive bread. My first Ultimate B.L.T. goes to my neighbor for her birthday. With that offering I realize now that I am truly invoking the Japanese Equinox celebration of Hign-e. Yes with my ultimate B.L.T. offering I am illustrating the six perfections: perseverance, effort, meditation, wisdom, observance of precepts, and giving.

KV Journeyman

11/13/07: Even standing in the cold rain, the Baroque facades on these buildings are fantastic. Brussels has some of the best architecture in the world, all types, all styles. Standing in the middle of the main town square one is overwhelmed with the magnitude of detail and size.

11/14/07: I am currently in Brugge in NW Belgium. It appears to be a quiet town with all old and small buildings, perhaps pre-Victorian, with a network of canals similar, but without the gondolas and singing rip-off-the-tourist gondoleers. I'll learn more tomorrow as we get a tour prior to dinner.

12/5/07: Just finished a fresh grilled tilapia sandwich while sitting outside looking at the expansive white sands of Clearwater Beach and the far reaches of the Gulf of Mexico, realizing I am flying back to DC tomorrow morning into the remnants of the latest Alberta Clipper to wreak havoc on the Nation's Capitol. Enough to upset the strongest and staunchest among us.

Time Magazine: 10/15/1934

Smack in the middle of the slum-mulligan of Manhattan's lower East Side two barefaced, rectangular apartments rear their bricks twelve stories into the air. Jointly christened Knickerbocker Village, they cover four whole city blocks. Between the two units is a concrete playground, and within each will be a garden. Each of the 1,593 apartments has wooden parquet floors, electric refrigeration, tiled bathrooms, outside windows. The elevators are self-operating. Rentals range from $22.50 for 2½ rooms on the ground floor to $87.50 for a 5½-room penthouse. Average is $12.50 a room. Knickerbocker Village will cost about $9,000,000, and with the exception of Rockefeller Center is the only large structure which Manhattanites have noticed abuilding these last two years. Last week it was ready for occupancy.

Because Knickerbocker Village is also Manhattan's first experiment in government-financed, low-cost housing, RFC's Chairman Jesse H. Jones, East-Sider Alfred E. Smith, many a minor wig gathered in its banner-decked playground to mark the day. Said Al Smith: "I was tempted to swap the Empire State Building." Chairman Jones thumped the tub of slum clearance. Informed that the first of the two units was already 95% rented, while the second unit (to be opened Dec. 1) was 50% rented, he waved an expansive hand at the holiday bunting, declared: "I know of no ... safer investment for public funds than to clear about 500 acres of your slums."*

Whether or not Knickerbocker Village was a fitting inspiration for such official rejoicing was last week a red hot sociological question.

In 1929 Realtor Fred Fillmore French began buying land on the lower East Side. By swearing his 42 brokers to secrecy and using dummy corporations, he managed to get some 15 acres for $5,000,000. Then in 1931 he announced a grandiose scheme for the erection of a $50,000,000 development for junior Wall Street executives. At this point he found that he could not get credit. At the same time Fred F. French Operators, Inc. began passing its dividends on $14,000,000 of preferred stock. The project remained only a scheme with a staggering upkeep in land taxes.

When Congress authorized the RFC to make loans on slum clearance projects, Realtor French picked out the worst block in his holdings and ecstatically presented it to Mr. Jones as a worthy subject for clearance. His choice was "Lung Block," so called because of its high tuberculosis mortality rate. On it lived 650 families. In its backyards were seven jakes. On this fester Mr. French proposed to build a low-cost housing project. Mr. Jones agreed to do business, and RFC lent 85% of the required $9,000.000.

Average cost of "Lung Block" to Knickerbocker Village was high: $3,116,000, or $14 per square foot. The tax assessment was therefore reduced by two-thirds to bring the monthly room rental down to the $12.50 stipulated by the RFC. Because the average rental on "Lung Block" had been about $5 a room, Knickerbocker Village remained a low-cost housing project only in the minds of the white collar workers, who proceeded to fill it.

Wednesday, December 19, 2007

Paul Solman Explains Hedge Funds

2 comments:

Lower East Side: Then and Now

Lake Street Dive: I Want You Back

Click On Picture Below To Learn More About The Fourth Ward Tour

Knickerbocker Village at the 2010 Conference on New York State History, June 4

June 1974

About Knickerbocker Village

KV Courtyard of Products and Services

Blog Archive

Followers

Reunion 2 (4/6/08) Slide Show-Part 1

Favorite KV Sites

reunion 1 slide show: 4/15/07

Knickerbocker Village and Environs Roll Call

Roll Call (Annex)

Articles Of Faith And Brotherhood

PS 177

KV Shopper"s Delight of Yesteryear

Help In Understanding Various Blog Posts, The KV Mind Map: Click On Image Below

1847 LES Ward Map Section: A Geographic Tool For Locating Blog Posts

Deep Thoughts

FAQ's: Click On Image

KV Honorary Members (And Their Corresponding Sponsors)

"Speak, KV Memory" by Vladimir Babokov and Guests

KV Journeyman

Time Magazine: 10/15/1934

Labels

Wednesday, December 19, 2007

Paul Solman Explains Hedge Funds

2 comments:

Lower East Side: Then and Now

Lake Street Dive: I Want You Back

Click On Picture Below To Learn More About The Fourth Ward Tour

Subscribe To

Knickerbocker Village at the 2010 Conference on New York State History, June 4

June 1974

About Knickerbocker Village

KV Courtyard of Products and Services

Blog Archive

Followers

Reunion 2 (4/6/08) Slide Show-Part 1

Favorite KV Sites

reunion 1 slide show: 4/15/07

Knickerbocker Village and Environs Roll Call

Roll Call (Annex)

Articles Of Faith And Brotherhood

PS 177

KV Shopper"s Delight of Yesteryear

Help In Understanding Various Blog Posts, The KV Mind Map: Click On Image Below

1847 LES Ward Map Section: A Geographic Tool For Locating Blog Posts

Deep Thoughts

FAQ's: Click On Image

KV Honorary Members (And Their Corresponding Sponsors)

"Speak, KV Memory" by Vladimir Babokov and Guests

KV Journeyman

Time Magazine: 10/15/1934

Labels