Atlanta Hawks Basketball and Entertainment Sues AIG for Breach of Contract

The Atlanta Hawks Basketball and Entertainment (AHBE), including controlling partner Bruce Levenson, is alleging that New Hampshire Insurance Company, also known as AIG, has breached a contract regarding the settlement of claims made by former GM Danny Ferry. AHBE, which previously owned the Atlanta Hawks NBA franchise, filed a lawsuit in the Superior Court of Fulton County in September. The lawsuit, a civil action suit, claims that AHBE had a policy to cover certain employment-related losses including wrongful termination and workplace torts such as those alleged by Ferry. AHBE claims that it informed the insurance company in April 2015 that these claims were to be covered under their policy. According to, AHBE and Ferry came to a buyout agreement in June 2015, two days before the franchise was sold. Current Hawks ownership stated that though they are aware of the claims against the former owners, the involved parties no longer have any connection to the organization. The lawsuit, which is for an undisclosed amount, states that AIG breached their policy by failing to acknowledge or pay the losses from Ferry’s settlement.

Bruce Levenson was born in Washington, D.C. He attended college at Washington University and American University. During college he started his journalism career with the Washington Star. In 1977 Levenson co-founded United Communications Group (UCG), which provides business information that provides data, news and analysis for a variety of industries. Along with his UCG co-founder Ed Peskowitz, Levenson formed Atlanta Spirit LLC. Later called Atlanta Hawks LLC, the organization was a group of businessmen who owns the Atlanta Hawks and Philips arena.

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Kyle Bass Talks About Economy

Many people are stating that the economy is on the verge of a collapse that is similar to the collapse of 2008. Kyle Bass himself states that the economy is at the same level that it was back in spring of 2007 when it comes to equity and credit markets. Another entity states that the market still has to rise a bit before it reaches the level of vulnerability. Cooperman states that while the economy is out of the state of pessimism, it is hanging in between optimism and skepticism. However, he does admit that any occurrence of euphoria is non-existent.

Kyle Bass has been known for correctly predicting the fall of the economy. However, that has been his only successful predictions. He has made many mistakes that look more like a desperate gambler than an experienced investor. These bad calls have made him the laughing stock. To go along with the false predictions he has made, he has also joined with people that were not good for the economy of their countries. Among the bad alliances he has made is the alliance with Cristina Fernandez de Kirchner. She has caused her country to default on a sovereign debt. However, Bass has explained it away.

Kyle Bass has also made some thoughtless remarks about certain situations. When GM had a controversy about the motor vehicles causing fatalities, Kyle Bass attempted to shift the blame to the passengers. Among the things that he has said was that the dead victims were not wearing their seat belts and they may have been drunk. Kyle Bass has also been involved in a few issues with pharma companies. He states that he wants to make the products more affordable for people to use. He believes that he is working for a noble cause. However, other people may disagree with what he is doing.

Kyle Bass: What Not to Do

If there is one thing that is certain, it is that honesty is the best policy in business. It pays to be honest, and it pays to be ethical. Yet, many people resort to unethical practices in order to earn money. This is often due to a ton of mistakes and blunders made by the people that are attempting to be successful. One of the people that have made tons of slips and bad calls is Kyle Bass. He was once very trustworthy to bring forth accurate predictions and make the right decisions with finances due to his ability to accurately predict the economical downturn. That turned out to be a fluke.

Kyle Bass is often compared to M. Night Shymalan. That director made one good movie, and the rest were disappointing messes. Like Shymalan, Kyle Bass has proven to be full of himself. Kyle Bass has done worse than to rationalize his mistakes and constantly promote himself throughout all of his blunders. He has also acted in ways that are actually costly not just to companies, but to the lives of people. Officials are actually looking for ways to declare his tactics completely illegal.

One scheme that Kyle Bass has been caught in is a scheme to cheat pharmaceutical companies, and that’s what UsefulStooges has been reporting about. He will short sell the stocks and then make some remarks that are false. Sue them and then make tons out of his tactics. This would cause pharmaceutical companies to struggle financially. As a result, they will have a harder time to perform medical research. Also, the patients that depend on them will struggle. As a result, many people will not get the treatment needed for their condition. Many people will deadly conditions will be left to die due to the loss of funding. This shows how low Kyle Bass has gone.

It is understandable that it could be tempting to resort to dishonest means to bring in some extra money. At the same time, it is inexcusable to resort to these specific tactics that can cost tons of lives. Kyle Bass has lost a lot of respect over the years.  In most cases, cheaters are found out and they are addressed according to how they have cheated.