Misplaced Pages

#158841

41-412: Designed by real estate developer John Wiebe, Westroads Mall opened in 1967. Prudential Financial purchased the mall from Wiebe for $ 45 million in 1977. In 1997, General Growth Properties acquired the mall from Prudential. The mall was owned by both General Growth (51% share) and Canadian property development company Ivanhoe Cambridge (49% share); it was managed by General Growth Properties on behalf of

82-500: A class action lawsuit by millions of its customers who had been sold unnecessary life insurance by Prudential agents over a 13-year period ending in 1995. The settlement called for Prudential to repay an estimated $ 2 billion to customers through direct refunds and enhancements to existing policies. The settlement had been the subject of extensive negotiations involving not only Prudential and its customers, but also insurance regulators in 30 states. Prudential had agreed in early 1997 to pay

123-678: A double-taxation treaty with the US, accepted by the Internal Revenue Service (IRS). Non-qualified dividends paid by other foreign companies or entities; for example, those receiving income derived from interest on bonds held by a mutual fund, are taxed at the regular and generally higher rate of income tax. When applied to 2013, this is on a sliding scale up to 39.6%, with an additional 3.8% surtax for high-income taxpayers ($ 200,000 for singles, $ 250,000 for married couples). A financier ( / f ɪ n ə n ˈ s ɪər , f ə -, - ˈ n æ n -/ )

164-564: A 100% rating on the Corporate Equality Index released by the Human Rights Campaign every year since 2003, the second year of the report. In addition, the company is in the "Hall of Fame" of Working Mothers magazine among other companies that have made their "100 Best Companies for Working Mothers" list for 15 or more years. It is still achieving that list, as of 2013. According to Business Week's The Best Places to Launch

205-519: A 1907 Massachusetts law to protect workers by allowing savings banks to sell life insurance at lower rates. Prudential has evolved from a mutual insurance company (owned by its policyholders) to a joint stock company (as it was prior to 1915 ). It is now traded on the New York Stock Exchange under the symbol PRU . The Prudential Stock was issued and started trading on the New York Stock Exchange on December 13, 2001. On August 1, 2004,

246-564: A Career 2008 , Prudential Insurance was ranked #59 out of 119 companies on the list. In 2007, The Prudential Foundation provided over $ 450,000 in Prudential CARES Volunteer Grants to 444 nonprofit organizations worldwide. The Prudential CARES Volunteer Grants Program recognizes individual and team volunteers based on a minimum of 40 hours of volunteer service per individual. Grants range from $ 250 to $ 5,000 for each award winner's charitable organization. Prudential ranked #69 on

287-459: A Piece of the Rock" and "Strength of Gibraltar" are also still quite widely associated with Prudential, though current advertising uses neither of these. Through the years, the symbol went through various versions, but in 1989, a simplified pictogram symbol of the Rock of Gibraltar was adopted and has been used ever since. The logotype was updated with a proprietary font in 1996. The font, Prudential Roman,

328-475: A fine of $ 35 million to settle state allegations of deceptive sales practices. Prudential acknowledged that for more than a decade its agents had improperly persuaded customers to cash in old policies and purchase new ones so that the agents could generate additional sales commissions. In 2010, various media outlets noted allegations that the Prudential Life Insurance Company was manipulating

369-399: A large scale and blithely ignored a 1986 SEC order to overhaul its internal enforcement of securities laws. In all, some 400,000 individual investors lost money on the deals. In 1993, Prudential Financial eventually settled with investors for $ 330 million. Prudential said it would repay customers across the U.S. who lost money on the company's limited partnerships in the 1980s. In addition,

410-488: A new CEO, John R. Strangfeld , to replace retiring Arthur F. Ryan . In 1981, the company acquired Bache & Co. , a stock brokerage service that operated as a wholly owned subsidiary until 2003, when Wachovia and Prudential combined their retail brokerage operations into Wachovia Securities , with Prudential a minority stake holder. In 1999, Prudential sold its healthcare division, Prudential HealthCare, to Aetna for $ 1 billion. On May 1, 2003, Prudential formalized

451-489: Is risk attitude . Investor protection through government involves regulations and enforcement by government agencies to ensure that market is fair and fraudulent activities are eliminated. An example of a government agency that protects investors is the U.S. Securities and Exchange Commission (SEC), which works to protect reasonable investors in the United States . Similar protections exist in other countries, including

SECTION 10

#1732902226159

492-470: Is a person who allocates financial capital with the expectation of a future return (profit) or to gain an advantage (interest). Through this allocated capital the investor usually purchases some species of property. Types of investments include equity , debt , securities , real estate , infrastructure , currency , commodity , token , derivatives such as put and call options , futures , forwards , etc. This definition makes no distinction between

533-451: Is a person whose primary occupation is either facilitating or directly providing investments to up-and-coming or established companies and businesses , typically involving large sums of money and usually involving private equity and venture capital , mergers and acquisitions , leveraged buyouts , corporate finance , investment banking , or large-scale asset management . A financier makes money through this process when their investment

574-403: Is paid back with interest, from part of the company's equity awarded to them as specified by the business deal, or a financier can generate income through commission , performance, and management fees. A financier can also promote the success of a financed business by allowing the business to take advantage of the financier's reputation. The more experienced and capable the financier is, the more

615-605: The U.S. Department of Homeland Security announced the discovery of terrorist threats against the Prudential Headquarters in Newark, New Jersey, prompting large-scale security measures that included concrete barriers outside the premises and internal X-ray machines. In the same year, a joint venture was formed between Prudential and China Everbright Limited . On November 28, 2007, the Prudential board of directors elected

656-625: The United Kingdom where individual investors have certain protections via the Financial Services Compensation Scheme (FSCS). Company dividends are paid from net income , which has the tax already deducted. Therefore, shareholders are given some respite with a preferential tax rate of 15% on " qualified dividends " in the event of the company being domiciled in the United States. Alternatively, in another country having

697-526: The United States and in over 40 other countries. In 2019, Prudential was the largest insurance provider in the United States with $ 815.1 billion in total assets. The company uses the Rock of Gibraltar as its logo . The use of Prudential's symbol, the Rock of Gibraltar, began after an advertising agent passed Laurel Hill , a volcanic neck, in Secaucus, New Jersey , on a train in the 1890s. The related slogans "Get

738-517: The 2017 Forbes World’s Biggest Public Companies list, calling out their $ 45.6 billion market value. Prudential ranked No. 52 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. As of 2019, Prudential is the largest insurance provider in the United States with $ 815.1 billion in total assets. See also the article on the Prudential Spirit of Community Award . Investor#Retail investor An investor

779-694: The Westroads 8. The theaters closed in 1997. In November 2008, Rave Motion Pictures opened a new 14-screen digital multiplex. It was acquired by AMC Theatres in 2013. On December 5, 2007, 19-year old Robert A. Hawkins entered the Von Maur anchor store with a rifle and opened fire. Nine people were killed, including the gunman, and four others were injured, all within Von Maur. The mall reopened on December 8, 2007 with increased security, while Von Maur reopened December 20, 2007. On March 12, 2021, 21-year old Kenya Jenkins

820-487: The acquisition of American Skandia , the largest distributor of variable annuities through independent financial professionals in the United States. The CEO of American Skandia, Wade Dokken , partnered with Goldman Sachs and sold the division to Prudential for $ 1.2 billion. The combination of American Skandia variable annuities and Prudential fixed annuities was part of Prudential's strategy to acquire complementary businesses that help meet retirement goals. In April 2004,

861-563: The acquisition. During the 1980s and 1990s, Prudential Securities Incorporated (PSI), formerly a division of Prudential Financial, was investigated by the Securities and Exchange Commission (SEC) for suspected fraud. During the investigation, it was found that PSI had defrauded investors of close to $ 8 billion, the largest fraud found by the SEC in US history to that point. The SEC charged that Prudential allowed rogue executives to cheat customers on

SECTION 20

#1732902226159

902-696: The company acquired the retirement business of CIGNA Corporation . In late 2009, Prudential sold its minority stake in Wachovia Securities Financial Holdings LLC to Wells Fargo & Co. In 2011, Prudential sold Prudential Bache Commodities, LLC to Jefferies. In February 2011, the company acquired AIG Edison and AIG Star both in Japan from American International Group , Inc (AIG) for a total of $ 4.8 billion. This acquisition bolstered Prudential's operations in Asia while giving cash to AIG to pay back

943-410: The company to the payee (in many cases a fallen service members' family). While Prudential was making profits of up to 4.2% in its general account in early 2010, they paid out 0.5% interest in these non-FDIC insured "Alliance" accounts. In some cases, when families requested to be sent a full payout in the form of a check, the family was sent a checkbook, rather than the amount due. It is not clear if

984-582: The federal government from its bailout in 2008. In January 2013, the company acquired the individual life insurance business from The Hartford for $ 615 million in cash. The acquisition includes 700,000 in force life insurance policies with a face amount of approximately $ 135 billion. This move by Prudential brought over additional life insurance revenue. In September 2019, the company agreed to acquire online startup Assurance IQ Inc. for $ 2.35 billion. Assurance has underperformed financial expectations, and industry commentators believe Prudential paid too much for

1025-481: The financier will be able to contribute to the success of the financed entity, and the greater reward the financier will reap. The term, financier, is French , and derives from finance or payment . Financier is someone who handles money. Certain financier avenues require degrees and licenses including venture capitalists , hedge fund managers, trust fund managers, accountants , stockbrokers , financial advisors , or even public treasurers . Personal investing on

1066-411: The financiers bring to bear in their decisions gives a wide range of entrepreneurial ideas a chance for insightful evaluation. And, importantly, the financier and the entrepreneur do not need the state's or social partners' approval. Nor are they accountable later on to such social bodies if the project goes badly, not even to the financier's investors. So projects that would be too opaque and uncertain for

1107-488: The firm was required to pay another $ 41 million in fines. The settlement also resolved investigations of the firm by the National Association of Securities Dealers and 49 states, including California, where 52,000 investors lost money in Prudential limited partnerships. Further investigation was conducted by the SEC into the executives of the company to determine the extent of the fraud. In 1997, Prudential settled

1148-460: The former food court space. Cheesecake Factory opened outside the mall on November 1, 2006. In December 2012, a Forever 21 Super Store opened on the lower level. The lower level formerly housed a family entertainment center, Tilt , with an arcade and indoor miniature golf course. On January 20, 2018, Abercrombie & Fitch closed at the mall. In August 2018, the Younkers store closed with

1189-572: The gun and fled, he was hit twice in the back and died of his injuries three hours later. Swift's companion returned fire but did not hit anyone. Woolridge-Jones was sentenced to a minimum of 35 years in prison after being convicted of second-degree murder. Prudential Financial Prudential Financial, Inc. is an American Fortune Global 500 and Fortune 500 company whose subsidiaries provide insurance , retirement planning , investment management , and other products and services to both retail and institutional customers throughout

1230-555: The investors in the primary and secondary markets . That is, someone who provides a business with capital and someone who buys a stock are both investors. An investor who owns stock is a shareholder . There are two types of investors: retail investors and institutional investors . A retail investor is also known as an individual investor . There are several sub-types of institutional investor: Investors might also be classified according to their profiles . In this respect, an important distinctive investor psychology trait

1271-533: The liquidation of its owner, Bon-Ton Stores . The first theater in the mall, the Fox Westroads, opened in November 1967. Originally a single screen theater, it was converted to the dual screen Fox Twin in 1976. In 1969, a second theater, Six West, opened at the mall -- reportedly the first six-screen theater complex in the United States. Both theaters were eventually purchased by AMC Theatres and marketed together as

Westroads Mall - Misplaced Pages Continue

1312-483: The other hand, has no requirements and is open to all using the stock market or by word-of-mouth requests for money. A financier "will be a specialized financial intermediary in the sense that it has experience in liquidating the type of firm it is lending to". Economist Edmund Phelps has argued that the financier plays a role in directing capital to investments that governments and social organizations are constrained from playing: [T]he pluralism of experience that

1353-447: The payout of life insurance benefits due to the families of American soldiers in order to gain extra profits. The company provided life insurance to people in the armed forces under a government contract. Rather than paying the full amount due to the families at once, the company would instead deposit the funds into a Prudential corporate account. These accounts are referred to as 'retained asset accounts' and are essentially an I.O.U. from

1394-505: The practice was in violation of law or the contract. In August 2010, the company was sued by a number of the bereaved families. The company's response included an open letter to the military community in which it addressed what it characterized as "misinformation" about the nature of the accounts. Military Times noted that prior lawsuits against insurance companies pertaining to the use of retained asset accounts have been dismissed in federal courts without action. Prudential has received

1435-476: The scene and, with the help of the Westroads Mall Security staff, gave aid to Wittstruck's gunshot wounds. Jenkins was apprehended after fleeing the scene after a high-speed chase on Westbound Interstate 80 that ended outside of Lincoln, NE. The .380 Taurus sidearm was located within the vehicle Jenkins had fled in. The mall was locked down and cleared by Law Enforcement and Security for a short time while

1476-470: The scene was investigated. No shots were fired in the main mall area or any other store. Wittstruck survived the shooting and is expected to recover. On April 17, 2021, two individuals exchanged gunfire on the first floor of the mall near the JCPenney store following a confrontation in line at a pretzel stand. The men fought, and after 16-year old Makhi Woolridge-Jones drew a gun 21-year old Trequez Swift kicked

1517-430: The state or social partners to endorse can be undertaken. The concept of the financier has been distinguished from that of a mere capitalist based on the asserted higher level of judgment required of the financier. However, financiers have also been mocked for their perceived tendency to generate wealth at the expense of others, and without engaging in tangible labor. For example, humorist George Helgesen Fitch described

1558-490: The venture. General Growth Properties acquired the 49% that it didn't previously own on April 5, 2012. The mall was renovated several times: in 1990, 1995, 1999 and 2003 and again in 2013-2014, which included the addition of an H&M store and Wi-Fi . In May 1991, a food court opened; it was replaced in 2015 by Flagship Commons, a food hall concept located elsewhere in the mall and operated by Flagship Restaurant Group. On October 22, 2016, The Container Store opened in

1599-604: Was designed by Doyald Young and John March, based on the Century font family. Started in Newark, New Jersey , in 1875, Prudential was originally called The Widows and Orphans Friendly Society , then the Prudential Friendly Society . It was founded by John F. Dryden , who later became a U.S. Senator. In the beginning, the company sold only one product, burial insurance. Dryden was the president of Prudential until 1912. He

1640-493: Was detained for shoplifting from the J.C. Penney store by staff and security. Officer Jeffrey Wittstruck from the Omaha Police Department responded and Jenkins allegedly produced a .380 Taurus firearm, shooting Officer Wittstruck four times in the face, head, and shoulder. Jenkins immediately fled the J.C. Penney loss prevention office to a vehicle and left the property. Officer Joseph Kunza arrived soon after Jenkins fled

1681-721: Was succeeded by his son Forrest F. Dryden , who was the president until 1922. A history of The Prudential Insurance Company of America up to about 1975 is the topic of the book Three Cents A Week , referring to the premium paid by early policyholders. At the turn of the 20th century, Prudential and other large insurers reaped the bulk of their profits from industrial life insurance, or insurance sold by solicitors house-to-house in poor urban areas. For their insurance, industrial workers paid double what others paid for ordinary life insurance, and due to high lapse rates, as few as 1 in 12 policies reached maturity. Prominent lawyer and future U.S. Supreme Court Justice Louis Brandeis helped pass

Westroads Mall - Misplaced Pages Continue

#158841