Employment – Unemployment: 25 – 54 Age-group Still Getting Pounded.

Subjects: Unemployment, Immigration, Employment growth, Ages 25 – 54, Male, Female I recently read a ZeroHedge article, by Tyler Durden, with a thesis on how most employment growth has been going to males, 55 years and older.  I noticed two flaws in the analysis. First, some comparisons only included the age-group 55 – 64 and other … Read moreEmployment – Unemployment: 25 – 54 Age-group Still Getting Pounded.

Former EB-5 Regional Center director defends his ethics

The former director of Vermont’s EB-5 Regional Center defended his ethics Thursday, following a statement from the governor’s office that implied he may have violated the state’s ethics code by accepting a job at Mount Snow. The Regional Center approved a $52 million EB-5 project underway at Mount Snow ski resort in West Dover. “I had counsel review … Read moreFormer EB-5 Regional Center director defends his ethics

Help Wanted As Burke Expands Ski Resort in Northeast Kingdom

There’s a hiring spree going on in the ski resort town of Burke in the Northeast Kingdom. A new hotel and conference center due to open in December will need as many as 200 workers. The rush is on to find them as construction moves ahead. About halfway up Burke Mountain a construction crew is building stylish … Read moreHelp Wanted As Burke Expands Ski Resort in Northeast Kingdom

Key EB-5 panel set for TRD’s showcase in Shanghai

Mastroianni and other EB-5 experts to participate Nicholas Mastroianni II, Min Chan, Kate Kamykov, Ron Klein and Clem Turner will be participating in the panel, “EB-5/Immigration & real estate” at The Real Deal’s September showcase in China. The panel will offer a look at how EB-5 works and a survey of the current approved projects, … Read moreKey EB-5 panel set for TRD’s showcase in Shanghai

Chinese seek green card out of NY ferris wheel fund

An massive ongoing ferris wheel construction project in New York is gaining the support of Chinese investors hoping to get a green card from the project, reports Yicai, the online portal of Shanghai’s China Business News. The giant wheel, to scrape 630 feet in height and hold 36 pods, is part of a larger site … Read moreChinese seek green card out of NY ferris wheel fund

Microsoft Uses Women’s Soccer Team to Regurgitate Faulty Data

Microsoft Uses Women’s Soccer Team to Regurgitate Faulty Data Microsoft’s use of the US Women’s Soccer Team and faulty data to try to increase immigration falls to a new low. Written by Steve Kritzer on Monday July 20th 2015 Subjects: shortage of Computer Science (CS) graduates, Women’s Soccer, H-1B train your replacement, shortage debunked, Computer … Read moreMicrosoft Uses Women’s Soccer Team to Regurgitate Faulty Data

Misleading Employment Situation Report

Here’s the quote from the first line of Employment Situation Report for June 2015.  “Total nonfarm payroll employment increased by 223,000 in June, and the unemployment rate declined to 5.3 percent,…” These two pieces of data are not even from the same surveys.   The problem here is that the Unemployment rate is taken from the Household … Read moreMisleading Employment Situation Report

Developer breaks ground on Delano hotel, lifestyle center

The 45-acre Delano Marketplace development is already well underway with a power center anchored by Walmart, Big 5 Sporting Goods and Ross Dress for Less, but there’s much more to come. On Wednesday, developer YK America broke ground for another phase of the project — the Vineyard Lifestyle Center and an adjacent Hyatt Place Hotel. … Read moreDeveloper breaks ground on Delano hotel, lifestyle center

SEC charges Luca International Group in Scheme targeting Chinese-Americans and EB-5 investors

The Securities and Exchange Commission charged Luca International Group  and its CEO with running a $68 million Ponzi-like scheme and affinity fraud that targeted the Chinese-American community in California and investors in Asia, including some solicited as part of the EB-5 Immigrant Investor Program. The SEC alleges that Bingqing Yang knew that Luca International Group was earning no profits and sinking under a mountain … Read moreSEC charges Luca International Group in Scheme targeting Chinese-Americans and EB-5 investors

SEC Charges EB-5 Brokers with Violation of the Exchange Act

On June 23, 2015, the Securities and Exchange Commission (“SEC”) instituted public administrative and cease-and-desist proceedings pursuant to the Securities Exchange Act of 1934 (“Exchange Act”) against Ireeco, LLC and Ireeco Limited, for illegally brokering investments by foreigners seeking U.S. residency through the U.S. government’s EB-5 Immigrant Investor Program.  According to the SEC, Ireeco LLC, … Read moreSEC Charges EB-5 Brokers with Violation of the Exchange Act

Mayor, Gorman head to China to raise $25M for Rockford hotel

Gary Gorman and Larry Morrissey are Shanghai-bound Wednesday to raise $25 million for Gorman & Company’s $67 million plan to turn the Amerock building into a downtown hotel. They’re headed to China with Powerpoint slides and sales pitches to court wealthy investors, who saw financial markets plunge 28 percent last week before government intervention led … Read moreMayor, Gorman head to China to raise $25M for Rockford hotel

EB-5 scandal in California

The former chief financial officer of SolarMax Technology in Los Angeles, Michael McCaffrey, has asserted that his former employer fired him for revealing the company’s “fraud and financial improprieties” in connection with its raising of some $60 million in EB-5 funds.   According to a press release from McCaffrey’s attorney: McCaffrey discovered that SolarMax, by engaging in a series … Read moreEB-5 scandal in California

Developer Christopher P. White hopes to returns with an $11 billion project

Real estate developer Christopher P. White is planning to make a comeback with a $11 billion project. White’s proposal  depends heavily on the federal EB-5 program.  White hired Arlington, Virginia-based lobbying firm J.M. Burkman & Associates to help secure federal funding. “One important observation: it is vital that we sell this as a regional and not just … Read moreDeveloper Christopher P. White hopes to returns with an $11 billion project

Seattle’s booming hospitality industry

With an unprecedented growth expected in the hospitality industry by the end of 2015, Seattle’s  hotel space is buzzing with new additions. The city is on the verge of adding an astonishing 4,000 new hotel rooms. Seattle is set to open over 1,000 rooms in the next 12 months followed closely by an additional 20-plus projects either in the permitting … Read moreSeattle’s booming hospitality industry

How does EB-5 program help cities build affordable housing?

EB-5 funds have been helpful in building low cost  houses in various cities like San Francisco and Miami. Real estate developers have been tapping the funds through this program to provide affordable houses. EB-5 funds helped build 115 affordable units at Stadium Place, for example which is an office-hotel-retail-residential project located in front of the Seattle … Read moreHow does EB-5 program help cities build affordable housing?

SEC charges Boca Raton company with unregistered broker-dealer activity in EB-5 investments

    Correction:Boca Raton-based Ireeco LLC and its successor, Hong Kong-based Ireeco Ltd., made history Thursday by being the first to be charged with unregistered broker activity in the EB-5 Immigrant Investor Program. The Securities and Exchange Commission brought the charges against the two companies, which allegedly brokered more than $79 million in EB-5 investments by acting … Read moreSEC charges Boca Raton company with unregistered broker-dealer activity in EB-5 investments

USCIS Transformation Program: One Billion Over Budget, Four Years Behind Schedule

Remember the transformation program USCIS launched years ago to convert their paper filing system to electronic filing? Well, after 10 years and billions of dollars, it is far from done. The U.S. Government Accountability Office recently released a report detailing their progress, and it isn’t pretty: The U.S. Citizenship and Immigration Services’ (USCIS) currently expects … Read moreUSCIS Transformation Program: One Billion Over Budget, Four Years Behind Schedule

Electronic processing of EB-5 petitions discontinued by USCIS

USCIS had announced on 16th June, 2015 that it had suspended the USCIS Electronic Immigration System (ELIS) for form I-526, Immigration Petition by Alien Entrepreneur. Additionally ELIS will also not support the Regional Center document library. This change will not affect the pending cases as of June 15, 2015. This was done due to challeges … Read moreElectronic processing of EB-5 petitions discontinued by USCIS

New York Wheel Project fully funded; begins foundation for vertical construction

The New York Wheel Project designed to be the tallest observation tower in the Western hemisphers is fully funded by an EB-5 loan of $150 million. Talking about CanAm Enterprises, Richard A.Marin, New York Wheel’s CEO said, “Using EB-5 financing for a project with as much public attention as this one would have been a daunting … Read moreNew York Wheel Project fully funded; begins foundation for vertical construction

Twin Peaks revokes Waco Franchise

Twin peaks restaurant chain based in Texas, revoked the franchise in Waco location after a biker gang shootout leaving nince people dead. “We are in the people business and the safety of the employees and guests in our restaurants is priority one,” Twin Peaks said in a statement. Twin Peaks corporate spokesman Rick Van Warner said that … Read moreTwin Peaks revokes Waco Franchise

Federal Judge rules in favor of All Aboard Florida

All Aboard Florida (AAF) got a ruling in its favor in the sale of bonds case. US District court judge Christopher Cooper in Washington, D.C., denied the efforts of Indian River and Martin counties to temporarily block issuance of the private-activity bonds by the Florida Development Finance Corp. This decision ensures that AAF project will have bonds to … Read moreFederal Judge rules in favor of All Aboard Florida

Former New York Governor criticizes the EB-5 Program

  Former governor of New york, Eliot Spitzner was critical of the EB-5 program. He said, the idea of foregin investors “buying” a path to citizenship “rubs me the wrong way.” He was speaking at ‘Only Brooklyn real estate summit’ at the Brooklyn Academy of Music. Spitzer added that he was a big supporter of immigration reform … Read moreFormer New York Governor criticizes the EB-5 Program

Real Estate firms turning to EB-5 in NYC

  Real Estate firms are more and more indulging in the business of EB-5. The latest example being Greystone, which has applied to become EB-5 regional center in New York. Greystone is a real estate lending and investment firm and hopes to utilize the funds it would raise through the regional center to possibly develop its future … Read moreReal Estate firms turning to EB-5 in NYC

Visa Program for Wealthy Foreigners Has ‘Serious Security Challenges,’ Homeland Whistleblower Says

  A senior federal agent became the first insider Wednesday to publicly expose what she said were serious national security concerns surrounding a controversial immigration program that has been providing Green Cards to wealthy foreigners. Senior Special Agent Taylor Johnson said her Homeland Security investigation uncovered visa applicants from China, Russia, Pakistan and Malaysia who … Read moreVisa Program for Wealthy Foreigners Has ‘Serious Security Challenges,’ Homeland Whistleblower Says

A first of its kind Immigration Heritage Month launch by World Way in China

Worldway Group is launching the first-ever heritage month across 7 cities in China including Beijing, Shenzhen, Shanghai, Guangzhou, Qingdao, Hong Kong and Macau.This is in response to Chicago City Council’s decision in 2014, to assign June as the Immigration Heritage month, which threafter is observed in over 100 cities and towns of the United States. Worldway … Read moreA first of its kind Immigration Heritage Month launch by World Way in China

Gorman & Co. completes the purchase of Amerock building

Gorman & Co. that plans to turn the Amerock factory building into a 160-suite hotel and conference room, completed the purchase from the City of Rockford. According to the contract approved by Rockford City council, Gorman bought the building at $25,000.  Gary Gorman, the CEO of the company specializes in historic buildingsand revitalizing urban neighborhoods. The … Read moreGorman & Co. completes the purchase of Amerock building