Category: Business

Badmaash Creators Set to Open a New Restaurant Featuring Indian Chinese Cuisine

Image credit: Unsplash

In Downtown Los Angeles, a culinary revolution is unfolding, spearheaded by the enthusiastic team of the Badmaash Restaurant: Chef Pawan Mahendro and his sons, Arjun and Nakul. Known affectionately as the “Badmaash boys,” they are introducing the city to the rich flavors of Indian Chinese cuisine through their latest venture, Hakka Hakka. This series of pop-up events, which started delighting the taste buds of food lovers on November 13, is set to make a grand return on Monday evenings starting at the end of January 2024.

The concept of Hakka Hakka is rooted in the rich history of the Hakka people, a subset of the Han Chinese who moved across the globe, including India. This migration led to a unique culinary fusion, where traditional Chinese recipes were infused with the flavors and ingredients of Indian cuisine. In Kolkata’s Tangra district, where many Hakka settled, this place became a melting pot of these flavors. This is where popular dishes like chili chicken, chow mein, and the famous chicken Manchurian were created. Chicken Manchurian is a mix of deep-fried chicken, cauliflower, prawns, and more, all seasoned with soy sauce.

After chef Pawan Mahendro graduated from culinary school, he perfected his skills in Hakka cuisine at Mumbai’s Golden Dragon restaurant at the Taj Hotel. His wife, Anu, recalls her father celebrating special occasions with Indian Chinese meals, a tradition that greatly influenced their sons Arjun and Nakul. Growing up in the Greater Toronto area, a place that is known for its Hakka food, the brothers came to love these dishes, seeing them as an essential part of their family celebrations.

While South Asian restaurants throughout the Southland offer glimpses into Hakka-style dishes, the Mahendros aspire to establish the first restaurant in Los Angeles dedicated exclusively to this fusion cuisine. Their search for the perfect location is ongoing, with Nakul imagining a lively, festive environment similar to the Hakka dining spots in Toronto, like Federick’s or China Cottage. He envisions a busy place in an area like West Hollywood, featuring a full bar to match the bold flavors of their cuisine.

Nakul Mahendro passionately explains their vision, “LA is ready for Hakka food because Hakka restaurants in India resemble American Chinese restaurants here. It’s a mentality of giving them what they want, like orange chicken and sesame chicken. Imagine your favorite American Chinese food but with chiles, heavy garlic, heavy ginger, and Indian spices.”

The excitement surrounding Hakka Hakka is evident, especially with their $100 set menu announcement for the January 2024 comeback. Guests can look forward to a delicious adventure starting with hot and sour soup and corn cabbage Manchurian, followed by a variety of dishes such as chili chicken, hot and sweet garlic fish, crispy lamb, and Chinese greens. The meal will wrap up with Chowpatty beach kulfi, also known as mango malai, providing a sweet end to a diverse and flavorful feast.

This new culinary venture by the Badmaash boys is more than just a restaurant; it’s a celebration of cultural fusion, a showcase of creative cooking, and a nod to Los Angeles’s varied tastes. As the city anticipates the full launch of Hakka Hakka, food lovers and those who enjoy culinary exploration eagerly wait for what’s sure to be an unforgettable dining experience.

December 8, 2023
Berkshire Hathaway’s Charlie Munger Passes Away at 99, Leaving a Legacy in Business

Image credit: Unsplash

The financial world lost one of its luminaries this Tuesday. Charles Thomas Munger, Warren Buffett’s right-hand man and longtime business partner passed away at 99. His passing just shy of the New Year, when he would have turned 100, marks the close of a remarkable chapter in finance. Munger wasn’t just a figure in the industry; he was an icon, whose influence and legacy are deeply felt.

Charlie Munger’s story starts on New Year’s Day back in 1924, in the heart of Omaha, Nebraska. Quite the true patriot, he served in the Army during the second World War. Post-war, Munger’s ambitions led him to the halls of Harvard Law School, where he earned his legal degree. In 1948, with a sense of adventure, he headed out to California, a move that would define much of his later life. It was in the sunny state that he took a deep dive into real estate law. His career took a major leap in 1962 with the establishment of the law firm Munger, Tolles & Olson, laying the groundwork for an extraordinary professional journey.

1962 was also the year when Munger really started to flex his financial muscles. He founded Wheeler, Munger & Co., a hedge fund that became a testament to his savvy in investments. But the real game-changer came in 1975. That’s when Munger decided to close his hedge fund and take up the mantle of vice chairman at Berkshire Hathaway. This bold move wasn’t just a career shift; it cemented his place as a heavyweight in the finance world.

For decades, Charles Munger was more than just a colleague to Warren Buffett; he was a key figure in transforming Berkshire Hathaway into the financial juggernaut it is today, boasting a staggering value of $780 billion. The secret sauce to Berkshire Hathaway’s astronomical success? It was the duo’s enduring partnership, characterized by a steadfast commitment to long-term growth, insightful strategies, and a set of shared core values. Together, Munger and Buffett turned the company into a beacon of financial achievement.

Warren Buffett himself has often spoken of Munger with immense respect and gratitude. He’s been quoted saying, “Without Charlie’s inspiration, wisdom, and participation, Berkshire Hathaway wouldn’t have reached the heights it has.” That’s a testament to Munger’s integral role in the company’s journey to becoming a titan in the business world.

But Munger’s reach extended far beyond the confines of Berkshire Hathaway’s boardrooms. From 1977 right up to 2022, he served as the chairman of the Daily Journal, a notable newspaper publisher based in Los Angeles. His tenure there left an indelible mark on the media industry. Munger wasn’t just a financial wizard; his sharp intellect and diverse contributions cut across various professional realms, showcasing his versatile genius.

Charlie Munger wasn’t just a titan in the world of finance; he was also a giant in the realm of philanthropy. His generosity knew no bounds, as seen in his substantial donations to academia. Stanford University benefited greatly from his largesse, receiving a hefty $43.5 million for the Munger Graduate Residence. Not stopping there, he also gifted a whopping $200 million to the University of Southern California. Overall, Munger’s charitable contributions amounted to over $550 million, a figure that speaks volumes about his dedication to making a meaningful difference beyond the financial sector.

As the financial community mourns Munger’s loss, his legacy continues to stand as a testament to the power of wisdom, ethical judgment, and kindness. At the time of his passing, Munger’s net worth was an impressive $2.2 billion. But his wealth was more than just a measure of financial success; it was a reflection of a life spent enriching society in innumerable ways.

The void left by Munger’s departure is palpable in the financial world, yet his influence remains indelible. Future philanthropists, business leaders, and investors will undoubtedly draw inspiration from his life story. Munger’s role in shaping modern finance and his unwavering commitment to bettering the world are his lasting legacies. Although he may no longer be with us, his impact and ideals will continue to resonate far into the future.

December 7, 2023
Amazon Warehouse Workers Face Overwhelming Fatigue and Discomfort, Research Reveals

Image credit: Pexels

A recent national study conducted by the University of Illinois Chicago’s Center for Urban Economic Development has revealed alarming statistics concerning the physical and mental well-being of Amazon warehouse workers in the United States. The study, which collected responses from 1,484 warehouse workers across 451 facilities in 42 states, uncovered disconcerting trends among the company s workforce. Researchers conducted a 98-question online survey between April and August to gather this insightful data.

According to the study, a shocking 69% of the Amazon U.S. warehouse workers surveyed reported taking unpaid time off to recover from pain or exhaustion resulting from their jobs. An even more concerning statistic is that 34% of these workers did so three times or more during the study period, indicating chronic issues of discomfort and fatigue among employees. Beth Gutelius, a leading expert on logistics and warehouse work and the research director at the center, remarked that the data suggests far more widespread occurrences of injury and pain at Amazon.

The survey utilized a targeted approach to reach Amazon employees, with advertisements on Meta Platforms Inc. apps, focusing on individuals who listed Amazon as their employer or resided in areas where the company operated. This comprehensive study was supported by funding from the Ford Foundation, Oxfam America, and the pro-labor nonprofit National Employment Law Project.

In response to the study’s findings, Amazon spokesperson Maureen Lynch Vogel disputed its credibility, asserting that it was merely a survey conducted on social media platforms by groups with ulterior motives. Vogel urged the public to examine Amazon’s annual safety reports submitted to the Occupational Safety and Health Administration (OSHA). She highlighted the improvements in safety rates within Amazon’s facilities, noting that the company’s records surpass the industry average in some aspects. However, Vogel did acknowledge the necessity for further improvements in workplace safety and assured that Amazon is continually investing in enhancing safety across its operations.

This report, regarded as the most extensive academic survey of Amazon workers to date, amplifies the growing scrutiny of the e-commerce giant’s vast logistics operation. Amazon is the second-largest private-sector employer in the United States, trailing only Walmart Inc. The company employs approximately 29% of all warehousing workers in the country, giving it substantial influence over the industry’s working conditions and compensation.

Critics of Amazon argue that the company exerts immense pressure on its employees, demanding strenuous work at a rapid pace, ultimately leading to preventable injuries. State workplace safety regulators in Amazon’s home state of Washington allege a direct link between employee monitoring and discipline and musculoskeletal disorders suffered by its workers. In addition, the federal Occupational Safety and Health Administration (OSHA) has issued citations to Amazon for exposing workers to ergonomic risks at multiple facilities nationwide. The study also unearthed the prevalence of work-related mental health issues among Amazon workers. Over half of the surveyed employees reported experiencing burnout, and this percentage increased with job tenure.

The study indicates that 41% of workers reported experiencing injuries while working in Amazon’s warehouses, with this percentage rising to 51% for individuals who have been with the company for more than three years. Researchers suggest that more substantial changes are needed to address the underlying issues affecting the well-being of Amazon’s workforce rather than mere minor adjustments.

November 17, 2023
Revitalizing Chinatown: How Residential-to-Restaurant Conversions Are Transforming the Area

Image credit: Pexels

A stunning string of residential-to-restaurant conversions has created a captivating area out of the previously somewhat abandoned Chinatown.

Architect Jingbo Lou has taken his own corner of Victor Heights and developed it into a flourishing restaurant hub. He took 100-year-old bungalows and a sliver of the neighborhood and made an inviting area that enthusiastic food lovers can thoroughly enjoy.

The ‘Forgotten Edge’ of Chinatown, on the first hill north of LA’s downtown core and Dodger Stadium, borders Echo Park. The sector is cut off from the majority of Chinatown by the 110 freeway. Its famous name was coined in the early ‘90s due to a reputation of neglect from local police divisions that were disadvantaged due to district boundary debates.

Now, a cluster of six small residential buildings has become a series of trendy new restaurants at the corner of Alpine and Centennial streets. The culinary hub is being called the ‘Alpine Courtyard,’ inviting those with exceptional tastes to its door. LA chefs and restaurateurs have pulled out all the stops to fashion exquisite dishes that any palate will appreciate.

According to Lou, preserving a piece of the city’s history is the goal. Restoring buildings that have stood tall for a century brings new life to a neighborhood that used to thrive back in the day. He’s rejuvenating the area by adding a beacon of flavorful beauty to the end of a once-forgotten enclave.

The complex was once set to be torn down for luxury apartments but took a purposeful turn. The neighborhood is mostly residential but is currently experiencing an influx of new developments, pointing to a promising commercial future. What was once a working-class neighborhood is now adorned with condos worth over $1M alongside the old Victorian apartment buildings and bungalows.

Lou hails from Beijing, having moved here in 1991 to pursue a master’s degree in architecture and landscape at the University of Southern California. His higher education kick-started his career in LA. Lou spent 2005 to 2012 gaining experience preserving buildings in the area as an architect with Heritage Housing Partners, a non-profit whose mission was to provide affordable homes to low and moderate-income first-time homeowners. In 2014, he handled the preservation of Koreatown’s Hotel Normandie.

Lou purchased the property alongside two partners after previous plans for the space fell through. He was proud of the place and his part in maintaining history, exclaiming, “Preservation is not just about the buildings, but also the settings and the culture.” According to him, preserving the settings and culture of Victor Heights means reinstituting the commercial fabric of the neighborhood. He provides affordable rent for first-time small business owners, allowing them to showcase their exquisite dishes to connoisseurs in the area. He stated that every tenant of Alpine Courtyard “are in their mid-30s, have accumulated a lot of experience in their fields and were looking for a starting point to open their own businesses.”

The deal to develop the plot was finalized in 2019, and Lou has been helping it thrive ever since. The plot was already zoned for commercial business as part of a master plan amendment from 1970 that was set in place due to the plot’s proximity to water management district buildings, major freeway interactions, and Elysian Park. Lou plans to maintain the existing layout rather than embark on new construction projects.

November 15, 2023
Foot Locker Has Signed 2023’s Largest Industrial Pre-Lease

Image credit: Unsplash

Foot Locker’s newly announced pre-lease represents Los Angeles’s largest 2023 pre-lease. The agreement will see the athletic retailer develop 361,000 square feet of warehouse space in Los Angeles County. The land was acquired by Ares Management and the Black Creek Group for $46.1 million, which is being leased to them by Jones Lang LaSalle Incorporated (JLL). The El Monte Logistics Center will be a “Class A Cross Dock Logistics Facility” currently under construction. According to an announcement by Ares Management, it is expected to be ready by the end of 2024. Foot Locker’s lease of the facility should extend through the second quarter of 2031.

Foot Locker is one of the United States’ most prolific commercial retailers. Specializing in athletic clothing and footwear, it gained an international reach and opened over three thousand locations worldwide. Foot Locker’s website currently lists nine retail sites inside of Los Angeles. There is no statement whether this new warehouse acquisition represents the beginning of further regional investment.

Ares Management is a global investment manager in credit, private equity, and real estate. Black Creek Group is a US-specialized real estate management company previously based in Denver, which was acquired by LA-based Ares Management in 2021. Since then, many of Black Creek’s executives have been moved to Ares Management, and bot headquarters are expected to relocate to a new location inside Los Angeles before the end of 2024. The successful development and the lease of the El Monte Logistics Center represent a significant joint investment of the unified brands and a particular commitment to the Los Angeles area.

Jones Lang LaSalle Incorporated is a Chicago-based global real estate firm founded in the United Kingdom. It invests heavily in real estate, including office space, single-family homes, and extensive facilities like the El Monte Logistics Center. In May 2023, JLL reported a $9.2 million quarterly loss, including a 15% drop in revenue from the Market Advisory wing that handles property and real estate leases. At the time, JLL executives labeled this a temporary decline, and the agreement with Ares Management and Foot Locker could represent this. Pre-leases of this size are uncommon in the current market.

Such sizable acquisitions were more common during the high-stakes competition that defined the first years of the 2020s. The current industrial environment has largely trended toward occupiers lowering costs rather than securing competitive spaces. It is also true of other top markets, where trends show vacancies and sub-leases becoming more common over time.

Foot Locker’s move resembles strategies from a time of higher consumer spending. Other leases of similar size recently took place, including a renewal of 400,000 square feet by OnTrac in Commerce and a new lease of 443,000 square feet by National Road Logistics in Torrance. JLL’s executives had told investors in May that they expected investment activity to increase by the end of the year. This prediction has now been supported by Ares Management and Footlocker’s significant acquisition.

October 27, 2023
Los Angeles Welcomes Premiere Chain Food Festival, Featuring Chili’s, Panda Express, and Pizza Hut

Image credit: Pexels

For those whose palates crave the cuisine of popular chain restaurants, the groundbreaking ChainFEST delivers a unique Chain experience in Los Angeles. The vibrant and unconventional food festival steers away from the average food festival, spotlighting local gems or chef-driven establishments to offer a unique culinary experience. ChainFEST, the inaugural food festival created by Chain, is a dining concept born from the minds of The Office actor B.J. Novak, renowned Los Angeles chef Tim Hollingsworth, and their passionate collaborators.

The Chain has already made a name by paying homage to beloved chain restaurant dishes and serving creative spins on classic favorites. They are taking it further by hosting ChainFEST, a two-day extravaganza in Los Angeles celebrating the iconic flavors of chain dining.

The premier chain food festival will unfold in early December at the Nya Studios in Hollywood, California. It is a culinary journey inviting attendees to savor delectable bites from a roster of heavyweights in the chain restaurant business. Attendees can expect offerings from Chili’s Grill and Bar, Dunkin’, Jack in the Box, Panda Express, Pizza Hut, Red Robin, SONIC Drive-In, and more, with refreshing soft drinks from Pepsi and crafty cocktails by several massive alcohol brands, including Crown Royal and Captain Morgan. With many options, attendees can enjoy every mouthwatering morsel for a single-day ticket price of just $75.

While the menu items might sound familiar, ChainFEST brings a unique twist. Chef Tim Hollingsworth, who boasts an impressive culinary background, will reimagine the signature dishes from each participating restaurant, crafting unforgettable meals exclusive to this event. Novak, one of the minds behind Chain, emphasized the significance of honoring chain cuisine and expressed his love for chain food, deeming the popular mainstream food worthy of celebration and respect, just like any other cuisine.

Chef Hollingsworth shared his perspective on the event’s culinary philosophy, declaring Chain a reflection of his chef background and his duality of working in high-end Michelin restaurants worldwide while still cherishing the chain restaurants from his childhood. For Chef Hollingsworth, ChainFEST’s imagination of iconic, widely beloved, and easy-to-eat dishes reflects a pursuit of excellence.

ChainFEST gives Angelenos and more the unparalleled opportunity to indulge in their favorite food chain restaurants’ revamped and reimagined dishes while participating in fun games and activities designed for food enthusiasts. The one-of-a-kind festival will welcome guests at the venue Nya Studios on Friday, December 1, from 7 to 9 p.m. and on Saturday, December 2, with two sessions: 4 p.m. to 7 p.m. and 8 p.m. to 11 p.m.

Quench your thirst at the festival with soft drinks from Pepsi and sip on Diageo alcohol brands featuring Guinness, Smirnoff, Crown Royal, and Captain Morgan. Additionally, Postmates will be on-site, ensuring those in the Postmates lounge get all the delectable delights served at the event.

ChainFEST invites all to relish their favorite foods and beverages from the world’s most renowned food chains. This December, culinary prowess and Chain food comfort merge for a delectable concoction.

October 24, 2023
Pioneering the Next Wave of Financial Innovation with Open Banking and Biometric Tech

Image credit: Unsplash

In the realm of finance, change is not just inevitable; it’s the driving force that fuels evolution. One company making notable strides in this transformation is Gordeon, leveraging the potent combination of Open Banking APIs and biometric verification to redefine the future of financial transactions.

Open Banking APIs have emerged as a game-changer in the contemporary financial landscape. These advanced interfaces, operating as the conduit between varied software platforms, have allowed banks to share pivotal data through third-party applications. This may sound technical, but the practical implications are groundbreaking. It signifies that the once distinct lines between different financial service providers are blurring, enabling a holistic, interconnected ecosystem where data flows seamlessly, optimizing transaction experiences.

However, Gordeon’s utilization of Open Banking goes beyond mere integration. Recognizing the constraints smaller businesses face, especially startups without the financial muscle to construct intricate payment systems, Gordeon presents a pragmatic solution. By harnessing the power of APIs, these enterprises can now provide a broad spectrum of payment solutions – from digital wallets to traditional credit and debit options – without the hefty price tag traditionally associated with such technology. It’s a move that is not only commendable for its innovation but also for its inclusivity, bringing state-of-the-art payment options to a broader range of businesses.

Yet, for Gordeon, innovation isn’t just about facilitating transactions; it’s also about ensuring they are secure. This is where their expertise in biometric verification comes to the fore. In an era where digital security threats loom large, the promise of biometric identification — relying on unique physical or behavioral attributes like retina scans or fingerprints — offers a beacon of hope. Not only are these biological markers incredibly challenging to replicate, but they also present a user-friendly approach to authentication. No more remembering complicated passwords or PINs; with Gordeon’s tech, your identity is literally at your fingertips.

Moreover, in their quest for optimal user convenience, Gordeon is delving into the realm of AI-based voice assistants. Imagine executing a transaction or checking your balance with just a voice command. This isn’t science fiction but a reality Gordeon is actively shaping, integrating cutting-edge voice recognition systems into their payment platforms.

Gordeon stands at the intersection of innovation and utility. Their profound understanding of Open Banking APIs is democratically revolutionizing the payment ecosystem, bringing cutting-edge solutions to businesses irrespective of their size. Paired with their strides in biometric verification and AI voice technology, Gordeon isn’t just setting the gold standard for financial transactions; they are actively redefining it. As they continue to push the boundaries of what’s achievable, the broader industry watches, learns, and invariably, follows.

Written in partnership with Tom White.

March 30, 2023