WEBVTT - EisnerAmper's Weinstein: Tax Reform To Accelerate Deals (Audio)

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<v Speaker 1>Global business news twenty four hours a day. If Bloomberg

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<v Speaker 1>I'm Charlie Pelotondal the SMP Nestak. They are all trading

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<v Speaker 1>news desk for today's afternoon call, and here's Bill Maloney.

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<v Speaker 1>Good afternoon, Charlie. Stocks are under pressure again today, with

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<v Speaker 1>the Dow currently down a hundred and fifty two points,

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<v Speaker 1>sysipes drop seventeen and AzaC falls forty three, small cap

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<v Speaker 1>six hundreds down seven points, and the US ten yield

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<v Speaker 1>at one point five nine percent. Up of markets were

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<v Speaker 1>also under pressure today, with Jeremy falling two point two

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<v Speaker 1>percent as Deutsche Bank felt to a record low back

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<v Speaker 1>in the US, ten out of eleven sub sectors are lower,

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<v Speaker 1>led by losses in financials, healthcare, and consumer discretionary. Only

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<v Speaker 1>a real estate gained doubt transports drop fifteen, utilities fall

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<v Speaker 1>point Nazabottex sink thirty six, and the vix is higher

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<v Speaker 1>by seventeen percent. Litersted a downside in the down included Japing, Morgan, Goldman,

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<v Speaker 1>Sachs and Fiser with fractional gains and Procnant, Gamble and Apple,

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<v Speaker 1>and finally another news. Disney is said to be working

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<v Speaker 1>on a potential Twitter bid. Disney is currently down one

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<v Speaker 1>point six percent. Live from the first to breaking newsnest On,

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<v Speaker 1>Bill Maloney, Charlie all right, thank you very much, Bill Maloney,

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<v Speaker 1>and again recapping SMP down seventeen the drop of eight

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<v Speaker 1>tenths of one percent. I'm Charlie Pelt. That's a Bloomberry

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<v Speaker 1>business flash. You're listening to taking stock with Pim Box

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<v Speaker 1>and Kathleen Hayes on Bloomberg Radio. Were are broadcasting live

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<v Speaker 1>from midtown Manhattan from the offices of Eisner Emperor where

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<v Speaker 1>they are all preparing for their fourth annual Real Estate

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<v Speaker 1>Private Equity Summit. It takes place at Pier six Steve

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<v Speaker 1>this Wednesday. Pierre sixty, of course, down at the Chelsea Piers,

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<v Speaker 1>and that an example of a original use that has

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<v Speaker 1>been supplanted by a more modern news for real estate.

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<v Speaker 1>And here to tell us about the modern world of

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<v Speaker 1>real estate is Charles Weinstein. He is the chief executive

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<v Speaker 1>officer of Eisner Amper and he joins us. Now, thank

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<v Speaker 1>you very much for housting us here, thank you for

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<v Speaker 1>having me tell let's let's let's talk about sort of

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<v Speaker 1>the role of Eisner Emper and real estate. Many people

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<v Speaker 1>may not know that you have a practice that involves

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<v Speaker 1>not only sort of managing real estate, but also managing

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<v Speaker 1>investments in real estate and helping people understand what is appropriate,

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<v Speaker 1>uh for for their businesses. Tell us about Eisener Emper's involvement. Sure,

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<v Speaker 1>you can think of Eisner Emper as a resource for

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<v Speaker 1>the real estate community, so providing advice, providing tax advice,

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<v Speaker 1>deal structuring advice, and perhaps more importantly, you could think

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<v Speaker 1>of Eisener Ramper as a connector in the real estate

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<v Speaker 1>community and helping facilitate transactions. And that's a big part

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<v Speaker 1>of the conference of our real Estate summit that we're

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<v Speaker 1>hosting on Wednesday. So what does it take to compete

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<v Speaker 1>your your company? You you're you're growing, you're expanding. What

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<v Speaker 1>does it take to well compete? Isn't there a lot

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<v Speaker 1>of a lot of other people who want to grab

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<v Speaker 1>some of the same business you do. Competition is fierce.

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<v Speaker 1>Competing is all about people and resources. Eisener Ramper has

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<v Speaker 1>great people and great resources, and that that is really

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<v Speaker 1>what helps us compete in the marketplace. Folks like Harry

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<v Speaker 1>Doblinsky and Lisa Knee and Ken Weisenberg just so well

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<v Speaker 1>connected in the community, helping in our clients connect amongst themselves.

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<v Speaker 1>It's great people coming up at the actual event. You've

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<v Speaker 1>got Sam Zell on Wednesday. Just give people a little

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<v Speaker 1>flavor of what you think Sam Cell might might say. Well, well,

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<v Speaker 1>great people indeed, And I would not even venture a

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<v Speaker 1>guess at what Sam's l might say, so, well, we'll leave.

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<v Speaker 1>But he is is he as regarded in the real

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<v Speaker 1>estate industry by the real estate professionals as he is

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<v Speaker 1>from outside investors from outside the industry. Absolutely, he is

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<v Speaker 1>someone who's amazingly well respected and ahead of the curve

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<v Speaker 1>at every curve. And he is certainly known for being outspoken,

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<v Speaker 1>like someone's gonna speaking on the national stage tonight, Donald Trump.

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<v Speaker 1>And the reason I bring up the debate Donald Trump

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<v Speaker 1>and Hillary Clinton is because you guys specialize in taxes.

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<v Speaker 1>You know prospects for tax reform. I won't pin you

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<v Speaker 1>down on the two candidates if you don't want to

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<v Speaker 1>be pinned down. But what are you hoping for? What

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<v Speaker 1>are you worrying about when it comes to TAXI from Charlie, So, uh,

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<v Speaker 1>tax reform is good for accountants. Anytime there's a change

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<v Speaker 1>in tax laws or perspective change in tax laws. Our

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<v Speaker 1>clients have a desk it need for us to help

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<v Speaker 1>and advise them. So tax reform is good. I'm unsure

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<v Speaker 1>what tax reform we're going to get, and we'll have

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<v Speaker 1>to wait and see what this election result is going

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<v Speaker 1>to be, but certainly going to impact the markets, and

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<v Speaker 1>in particular could impact the real estate markets. If we

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<v Speaker 1>see that there are potential increases in tax rates, you

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<v Speaker 1>may see a significant acceleration in transactions. Well, I'm just

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<v Speaker 1>noting from many of the bios of the people that

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<v Speaker 1>will be attending your event. If you've got the chief

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<v Speaker 1>investment officer managing director for the real estate group of

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<v Speaker 1>Goldman Sachs, for for example, tell us about some of

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<v Speaker 1>the other people that we're going to be able to

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<v Speaker 1>look forward to hearing from. So one of the things

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<v Speaker 1>sticking to the political theme, is we have what will

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<v Speaker 1>be a candidate for New York City mayor. Mr Massey

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<v Speaker 1>will be a candidate for the mayor and will be

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<v Speaker 1>interviewed by Catherine Wilde, who is the CEO of the

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<v Speaker 1>Partnership for New York. So we could have some very

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<v Speaker 1>exciting things come out of our conference on Wednesday. What

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<v Speaker 1>about fintech and all the things happening on that side,

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<v Speaker 1>peer to peer lending, etcetera. How does that affect you?

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<v Speaker 1>Does it help your business as it hurt your business?

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<v Speaker 1>Fintech is great for New York City, So fintech is

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<v Speaker 1>just another area of growth. Job growth in New York

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<v Speaker 1>City has been really strong, led by certainly by fintech

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<v Speaker 1>in the technology space in New York. UM, so we've

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<v Speaker 1>been strong and those are practice areas for us. Will

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<v Speaker 1>we also have great expertise, so the firm goes beyond

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<v Speaker 1>real estate in many ways. The financial services industry is

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<v Speaker 1>our largest segment. Technology is our second largest segment inside

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<v Speaker 1>the firm. Is it ever going to get easier to

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<v Speaker 1>do your taxes? My wife does my taxes, so for

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<v Speaker 1>me it's easy. That's that is easy. Quick final comment

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<v Speaker 1>on advice to anybody who wants to get into this industry,

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<v Speaker 1>Into this business, Charlie, which business, Oh listate taxes, Eisenery, emper,

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<v Speaker 1>all the above. So um, there's it's always a good time.

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<v Speaker 1>To my view is it's always a good time to

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<v Speaker 1>go into any business. Quite frankly, there are always opportunities

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<v Speaker 1>to exploit. There are always weaknesses in the marketplace. I'm

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<v Speaker 1>always bullish on entrepreneurship. And he's must must be working

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<v Speaker 1>for Charles Wednesday. He's chief executive officer Eisener Amper l

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<v Speaker 1>l P. We're broadcasting live in fact from his offices

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<v Speaker 1>here in Midtown Manhattan, head of the annual Real Estate

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<v Speaker 1>Private Equity Summit this Wednesday for Eisener Amper Bloomberg Taking

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<v Speaker 1>Stock is brought to by New York Presbyterian Lower Manhattan Hospital,

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