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Report No. : |
345900 |
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Report Date : |
27.10.2015 |
IDENTIFICATION DETAILS
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Name : |
GERSHOW RECYCLING CORPORATION |
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Registered Office : |
71 Peconic Avenue, Medford, NY 11763 |
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Country : |
United States |
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Date of Incorporation : |
18.08.1965 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject is a processor of ferrous and non-ferrous metals, and paper
products |
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No. of Employee : |
200 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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United States |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
UNITED STATES - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with a per capita GDP of $54,800. US firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals, and medical, aerospace, and military equipment; however, their advantage has narrowed since the end of World War II. Based on a comparison of GDP measured at Purchasing Power Parity conversion rates, the US economy in 2014, having stood as the largest in the world for more than a century, slipped into second place behind China, which has more than tripled the US growth rate for each year of the past four decades.
In the US, 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.
Long-term problems for the US 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.
The onrush of technology has been a driving factor in 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. But the globalization of trade, and especially the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. 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 and oil has a major impact on the overall health of the economy. 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, the US Congress established a $700 billion Troubled Asset Relief Program (TARP) in October 2008. 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 2014, the direct costs of the wars totaled more than $1.5 trillion, 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 dropped below 6.5% or inflation rose 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 ended the purchases during the summer of 2014. In 2014, the unemployment rate dropped to 6.2%, and continued to fall to 5.5% by mid-2015, the lowest rate of joblessness since before the global recession began; inflation stood at 1.7%, and public debt as a share of GDP continued to decline, following several years of increase.
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Source
: CIA |
GERSHOW RECYCLING
CORPORATION
Address: 71 Peconic Avenue,
Medford, NY 11763 - USA
Telephone: +1
631-289-6188
Fax: +1 631-289-6368
Website: www.gershow.com
Corporate ID#: 190096
State: New York State
Judicial form: Corporation – Profit
Date incorporated: 08-18-1965
Stock: 200
shares common
Value: No
par value
San GERSHOWITZ
Business:
Gershow Recycling Corporation is a processor of ferrous and non-ferrous
metals, and paper products.
It produces ferrous, non ferrous, and paper grades in customer specified
forms, including baled, sheared, and shredded.
The company processes aluminum mix, aluminum siding, aluminum wheels,
appliances, auto hulks, automobile batteries, automobile radiators, barre brite
copper wire, copper tubing, corrugated cardboards, electric motors, fuel
storage tanks, insulated copper wires, light iron, and shredded steel into
marketable products for recycling. Gershow Recycling Corporation owns and
operates a fleet of heavy-duty trucks and trailers.
It also exports electric motors internationally.
The company transports its products internationally by ship, and
over-land by rail and truck.
It serves aluminum foundries, copper foundries, paper mills, and steel
mills in the United States and internationally.
Office of the Foreign
Assets Control (OFAC):
The company is not listed on the OFAC list.
The Specially Designated Nationals (SDN) List is a publication of OFAC
which lists individuals and organizations with whom United States citizens and permanent
residents are prohibited from doing business.
No name of foreign suppliers available.
EIN: 11-2113918
Staff: 200
Operations & branches:
At the headquarters, we find the corporate office and warehouse.
The group maintains branches located:
1888 Pitkin Ave.
Brooklyn, NY 11212
97 East Hawthorne Ave.
Valley Stream, NY 11580
143 Hanse Ave.
Freeport, NY 11520
24 Denton Ave.
New Hyde Park, NY 11040
149 W. 11th St.
Huntington Station, NY 11746
635 Muncy Ave.
Lindenhurst, NY 11757
33 McAdam St.
Bay Shore, NY 11706
27 Hubbard Ave.
Riverhead, NY 11901
(the address given on your
order: 27 Hubbard Avenue, Grand Prairie, TX 75050 is a wrong address).
Shareholders:
This is a GERSHOWITZ family
owned and managed company.
Management:
Kevin GERSHOWITZ is the President.
Sam GERSHOWITZ is the CEO.
As far as we know, they are involved in other corporations, including:
GERSHOW RECYCLING OF BROOKLYN INC.
Incorporated in New York State on 02-13-2001
ID# 2605380
GERSHOW RECYCLING OF FREEPORT EXPORT CORPORATION
Incorporated in New York State on 02-10-2011
ID# 4053558
GERSHOW RECYCLING OF FREEPORT, INC.
Incorporated in New York State on 10-02-2008
ID# 3728036
GERSHOW RECYCLING OF RIVERHEAD, INC.
Incorporated in New York State on 09-30-2011
ID# 4148413
GERSHOW RECYCLING OF VALLEY STREAM, INC.
Incorporated in New York State on 04-11-2011
ID# 4079513
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.
We sent a fax but no answer
received.
Outside sources (bank) gave
consolidate sales for year 2014 in the range of
USD 160,000,000=
The business is profitable.
Banks: The Bank of New York Mellon
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts
summary (UCC): Several UCC