529 Fifth
Avenue, Ste 1500, New York, NY10017 - USA
Country :
United States
Date of Incorporation :
30.01.1997
Legal Form :
Limited Liabilities Company
Line of Business :
Manufactures and Markets Diamonds.
No of Employees :
150 [For The Group]
RATING & COMMENTS
MIRA’s Rating :
Ba
RATING
STATUS
PROPOSED CREDIT LINE
41-55
Ba
Overall operation is considered normal. Capable to meet normal
commitments.
Satisfactory
Status :
Satisfactory
Payment Behaviour :
No Complaints
Litigation :
Clear
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 01, 2014
Country Name
Previous Rating
(31.03.2014)
Current Rating
(01.06.2014)
United States
A1
A1
Risk Category
ECGC
Classification
Insignificant
A1
Low Risk
A2
Moderate Low Risk
B1
Moderate Risk
B2
Moderate High Risk
C1
High Risk
C2
Very High Risk
D
UNITED STATES - ECONOMIC OVERVIEW
The US has the
largest and most technologically powerful economy in the world, with a per
capita GDP of $49,800. In this market-oriented economy, private individuals and
business firms make most of the decisions, and the federal and state
governments buy needed goods and services predominantly in the private
marketplace. US business firms enjoy greater flexibility than their
counterparts in Western Europe and Japan in decisions to expand
capital plant, to lay off surplus workers, and to develop new products. At the
same time, they face higher barriers to enter their rivals' home markets than
foreign firms face entering US
markets. US firms are at or near the forefront in technological advances,
especially in computers and in medical, aerospace, and military equipment;
their advantage has narrowed since the end of World War II. The onrush of
technology largely explains the gradual development of a "two-tier labor
market" in which those at the bottom lack the education and the
professional/technical skills of those at the top and, more and more, fail to
get comparable pay raises, health insurance coverage, and other benefits. Since
1975, practically all the gains in household income have gone to the top 20% of
households. Since 1996, dividends and capital gains have grown faster than
wages or any other category of after-tax income. Imported oil accounts for
nearly 55% of US
consumption. Crude oil prices doubled between 2001 and 2006, the year home
prices peaked; higher gasoline prices ate into consumers' budgets and many
individuals fell behind in their mortgage payments. Oil prices climbed another
50% between 2006 and 2008, and bank foreclosures more than doubled in the same
period. Besides dampening the housing market, soaring oil prices caused a drop
in the value of the dollar and a deterioration in the US merchandise
trade deficit, which peaked at $840 billion in 2008. The sub-prime mortgage
crisis, falling home prices, investment bank failures, tight credit, and the
global economic downturn pushed the United States into a recession by
mid-2008. GDP contracted until the third quarter of 2009, making this the
deepest and longest downturn since the Great Depression. To help stabilize financial
markets, in October 2008 the US Congress established a $700 billion Troubled
Asset Relief Program (TARP). The government used some of these funds to
purchase equity in US banks and industrial corporations, much of which had been
returned to the government by early 2011. In January 2009 the US Congress
passed and President Barack OBAMA signed a bill providing an additional $787
billion fiscal stimulus to be used over 10 years - two-thirds on additional
spending and one-third on tax cuts - to create jobs and to help the economy
recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP.
In 2012 the federal government reduced the growth of spending and the deficit
shrank to 7.6% of GDP. Wars in Iraq
and Afghanistan
required major shifts in national resources from civilian to military purposes
and contributed to the growth of the budget deficit and public debt. Through
2011, the direct costs of the wars totaled nearly $900 billion, according to US
government figures. US revenues from taxes and other sources are lower, as a
percentage of GDP, than those of most other countries. In March 2010, President
OBAMA signed into law the Patient Protection and Affordable Care Act, a health
insurance reform that was designed to extend coverage to an additional 32
million American citizens by 2016, through private health insurance for the
general population and Medicaid for the impoverished. Total spending on health
care - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010. In
July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer
Protection Act, a law designed to promote financial stability by protecting
consumers from financial abuses, ending taxpayer bailouts of financial firms,
dealing with troubled banks that are "too big to fail," and improving
accountability and transparency in the financial system - in particular, by
requiring certain financial derivatives to be traded in markets that are
subject to government regulation and oversight. In December 2012, the Federal
Reserve Board (Fed) announced plans to purchase $85 billion per month of
mortgage-backed and Treasury securities in an effort to hold down long-term
interest rates, and to keep short term rates near zero until unemployment drops
below 6.5% or inflation rises above 2.5%. In late 2013, the Fed announced that
it would begin scaling back long-term bond purchases to $75 billion per month
in January 2014 and reduce them further as conditions warranted; the Fed,
however, would keep short-term rates near zero so long as unemployment and
inflation had not crossed the previously stated thresholds. Long-term problems
include stagnation of wages for lower-income families, inadequate investment in
deteriorating infrastructure, rapidly rising medical and pension costs of an
aging population, energy shortages, and sizable current account and budget
deficits.
Source
: CIA
Company name & address
LEO SCHACHTER
DIAMONDS, L.L.C.
Address:529
Fifth Avenue, Ste 1500, New York, NY 10017 - USA
Telephone:+1
212-688-2000
Fax:+1 212-688-3345
Website:www.theleodiamond.com
Corporate ID#:2107883
State:New YorkState
Judicial form:LLC
Date incorporated: 01-30-1997
Stock Value: A
LLC has no stock
Name of manager:LEO
SCHACHTER
ACTIVITIES
& OPERATIONS
IST
Business:
Leo Schachter Diamonds, LLC manufactures and markets diamonds.
The company was founded in 1952 and is based in New York, New York.
It has operations in Paris, France; London,
the United Kingdom; Milan, Italy;
New York, New York;
and Hong Kong, Hong Kong.
Suppliers include:
LEO SCHACHTER DIAMONDS EAST LTD
Unit B, 7 Floor, BOC Group Life Assurance Tower, 134-136 Des Voeux Road,
Central, Hong Kong
The Company imports also from Israel,
China
and other countries.
EIN:13-3946724
Staff:150 (for the group)
Operations & branches:
At the headquarters, we
find a small workshop, showroom and office, on lease.
The Company maintains a
small showroom and store located:
50 West 47th Street, Suite 2100
New York, NY10036
SHAREHOLDERS & MANAGERS
Shareholders:
Leo SCHACHTER is the
Member.
Management:
Leo SCHACHTER is the
President and CEO.
Jake WEINBLATT is the CFO.
As far as we know,
they are involved in other corporations, including:
LEO SCHACHTER FIFTH
AVENUE, LLC
Incorporated in New YorkState on 01-31-2001
ID# 2600762
ELTAN CONSULTING, LLC
Incorporated in New YorkState on 04-08-1997
ID# 2131076
LEO SCHACHTER & CO., INC.
Incorporated in Delaware
on 05-20-1997
ID# 2752943
FINANCIALS
In United States,
privately held corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report but deferred any financials.
Outside sources (bank) gave
estimate sales for year 2013 in the range of
USD 15,000,000= verse USD
14,500,000= in 2012 and USD 13,900,000 is 2011.
The business is profitable.
Banks:Standard Chartered Bank
One Madison
Avenue, New York, NY10010
Ph: +1 212-767-0700
LEGAL FILINGS
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary (UCC):
1.
Debtor Names:
LEO SCHACHTER DIAMONDS, L.L.C.
579 FIFTH AVENUE, NEW YORK, NY10017, USA
Secured Party Names:
ABN AMRO BANK N.V., AS AGENT
565 FIFTH AVENUE, 25TH FLOOR, NEW YORK, NY10017, USA
ABN AMRO BANK N.V.
565 FIFTH AVENUE, 25TH FLOOR, NEW YORK, NY10017, USA
File no.
File Date
Lapse Date
Filing Type
200605100399008
05/10/2006
05/10/2011
Financing
Statement
201004120186921
04/12/2010
05/10/2011
Financing
Statement Amendment
201105095487666
05/09/2011
05/10/2016
Continuation
2.
Debtor Names:
LEO SCHACHTER DIAMONDS, L.L.C.
579 FIFTH AVENUE, NEW YORK, NY10017, USA
LEO SCHACHTER DIAMONDS, LLC
529 FIFTH AVENUE, NEW YORK, NY10017, USA
LEO SCHACHTER DIAMONDS, LLC
50 WEST 47TH
STREET, SUITE 2100, NEW YORK, NY10036, USA
