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MIRA
INFORM REPORT
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Report No. : |
490309 |
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Report Date : |
07.02.2018 |
IDENTIFICATION DETAILS
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Name : |
PERK-UP, INC. |
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Registered Office : |
399 Knollwood Road #309 White Plains,
New York, 10603 |
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Country : |
United States |
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Date of Incorporation : |
08.01.1964 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject is dedicated to the wholesale of General
Warehousing and Storage. |
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No. of Employees : |
280 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
UNITED STATES - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with a per capita GDP of $57,300. 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, businesses 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. Because the US economy is energy-intensive, falling oil prices since 2013 have alleviated many of the problems the earlier increases had created.
The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the US 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, 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. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries.
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.
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 Americans by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on healthcare - 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 further reduce them 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 increases. In December 2015, the Fed raised its target for the benchmark federal funds rate by 0.25%, the first increase since the recession began. With US GDP growth below 2%, the Fed opted to raise rates three times since then, and in mid-June 2017, the range for the target rate stood at 1% to 1.25%.
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Source
: CIA |
STATUTORY INFORMATION
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Legal Name: |
PERK-UP, INC. |
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Trade
Names: |
PERK-UP, INC. KARI-OUT |
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ID: |
172757 |
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Date Created: |
1964 |
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Date Incorporated: |
JANUARY 08, 1964 |
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Legal Address: |
399 KNOLLWOOD ROAD #309 WHITE PLAINS, NEW YORK, 10603, USA |
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Operative Address: |
399 KNOLLWOOD ROAD #309 WHITE PLAINS, NEW YORK, 10603, USA |
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Telephone: |
(800) 433-8799 (914) 580-3200 |
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Fax: |
- |
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Legal Form: |
CORPORATION |
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Email: |
info@kariout.com |
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Registered in: |
NEW YORK |
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Website: |
www.kariout.com |
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Contact: |
PAUL EPSTEIN – Chief Executive Officer |
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Staff: |
280 |
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Activity: |
NAICS 1: General Warehousing and Storage SIC 1: General Warehousing And Storage |
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Banks: |
BANK OF AMERICA INTERNAL REVENUE SERVICE ISRAEL DISCOUNT BANK OF NEW YORK YALE FINANCIAL SERVICES, INC. IDB LEASING, INC. |
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History: |
The company was founded in 1964. The
company was formerly known as R & H STAR PRODUCTS, INC. |
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PRINCIPAL ACTIVITY |
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The company is dedicated to the
wholesale of General Warehousing and Storage. |
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Products/Services description: |
The company offers food containers,
condiments, bottled goods, specialty bags, towelettes, food ingredients,
janitorial & cleaning products and take out disposables. |
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Brands: |
KARI-OUT |
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Sales are: |
Wholesale |
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Clients: |
Retailers |
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Suppliers: |
Modern Packaging Co. Hebei Meihua Monosodium Glutamate Group
Co., Ltd. Okechamp S.A. Ahlstrom Tampere Oy Kauttua Mill Kibar Dis Ticaret A.S. İspak Esnek Ambalaj Sanayi
A.Ş. |
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Operations area: |
National |
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The company
imports from |
INDIA CHINA POLAND FINLAND TURKEY |
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The company exports to |
No export records found. |
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The subject employs |
280 employees |
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Payments: |
Regular |
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LOCATION |
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Headquarters : |
399 KNOLLWOOD ROAD #309 WHITE PLAINS, NEW YORK, 10603, USA |
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Comments on Address: |
- |
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Branches: |
The company has several branches. Some
of them are: Perk-Up, Inc. (Branch Location) 15204 Spring Ave Santa Fe Springs, California 90670-5642 United States Perk-Up, Inc. (Branch Location) 690 Union Blvd Totowa, New Jersey 07512-2208 United States |
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Related Companies: |
No related companies were found. |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES |
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
The company does not disclose
information on shareholders. The following information has been obtained
through private sources and could not be confirmed. HOWARD EPSTEIN |
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Management: |
PAUL EPSTEIN – Chief Executive Officer ADAM EPSTEIN - Manager HOWARD EPSTEIN |
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FINANCIAL INFORMATION |
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The company
does not make its financial statements public. The following information has
been provided by private sources: |
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USD 2016 |
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Revenue |
25 000 000 |
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Cash Flow |
Normal |
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LEGAL FILINGS |
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PATENTS |
Condiment packet Patent number: D768005 Type: Grant Filed: September 9, 2014 Date of Patent: October 4, 2016 Assignee: Perk-Up, Inc. Inventor: Paul Epstein Paper food tray Patent number: D775947 Type: Grant Filed: May 1, 2015 Date of Patent: January 10, 2017 Assignee: Perk-Up, Inc. Inventors: Paul Epstein, John Daines Rectangular shaped container assembly
with stylized base Patent number: D807120 Type: Grant Filed: August 26, 2016 Date of Patent: January 9, 2018 Assignee: Perk-Up, Inc. Inventor: Paul Epstein Round shaped container assembly with
stylized base Patent number: D807704 Type: Grant Filed: August 26, 2016 Date of Patent: January 16, 2018 Assignee: Perk-Up, Inc. Inventor: Paul Epstein |
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GOVERNMENT CONTRACTS |
No records found. |
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CASES |
DIBELLO v. PERK-UP, INC. et al Plaintiff: VICTOR DIBELLO Defendant: PERK-UP, INC., TRIPAK
INDUSTRIAL USA, LLC, HOWARD EPSTEIN, PAUL EPSTEIN, DAVID EPSTEIN, JOHN DOES
1-10 and XYZ CORP. 1-10 Case Number: 2:2016cv05843 Filed: September 22, 2016 Court: New Jersey District Court Office: Newark Office County: Passaic Presiding Judge: Jose L. Linares Referring Judge: Steven C. Mannion Nature of Suit: Employment Cause of Action: 28:1441 Jury Demanded By: Plaintiff JAROSZEWSKI v. PERK-UP, INC. et al Plaintiff: JAMES A. JAROSZEWSKI Defendant: PERK-UP, INC., TRIPAK
INDUSTRIAL USA, LLC, HOWARD EPSTEIN, PAUL EPSTEIN, DAVID EPSTEIN, JOHN DOES
1-10 and XYZ CORP. 1-10 Case Number: 2:2016cv05845 Filed: September 22, 2016 Court: New Jersey District Court Office: Newark Office County: Passaic Referring Judge: Mark Falk Presiding Judge: John Michael Vazquez Nature of Suit: Americans with
Disabilities - Employment Cause of Action: 28:1441 Jury Demanded By: Plaintiff Chan et al v. Perk Up, Inc. et al Plaintiff: Yuk Kwan (Peter) Chan and Wai
Hung (Ronald) Chan Defendant: Perk Up, Inc., Paul Epstein,
Howard Epstein and David Chan Case Number: 7:2015cv01150 Filed: February 18, 2015 Court: New York Southern District Court Office: White Plains Office County: Queens Presiding Judge: Cathy Seibel Nature of Suit: Fair Labor Standards Act Cause of Action: 29:020 Jury Demanded By: None |
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TRADEMARKS |
CHINESE & AMERICAN SALES CO. soy sauce, duck sauce and mustard Owned by: Perk-Up, Inc. Serial Number: 74293841 DIAMOND RED spices and condiments, namely, ketchups,
salsas, chutneys, dipping and barbecue sauces, processed garlics, chili
sauces,… Owned by: Perk-Up, Inc. Serial Number: 75352268 KARI-OUT plastic or paper bags for use as prepared
food packaging, paper napkins and paper place mats Owned by: Perk-Up, Inc. Serial Number: 75396564 Image Trademark paper bags for packaging in the food
service industry Owned by: Perk-Up, Inc. Serial Number: 75415624 Image Trademark paper bags for packaging in the food
service industry Owned by: Perk-Up, Inc. Serial Number: 75415625 |
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RENEWAL HISTORY |
Filing Date Name Type Entity
Name AUG 05, 1965 Actual PERK-UP, INC. JAN 08, 1964 Actual R & H STAR
PRODUCTS, INC. |
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UCC |
Debtor Names: PERK UP INC Not Available Secured Party Names: INTERNAL REVENUE SERVICE File no. File
Date Refile Date Filing Type Pages 178690 05/27/1986 01/01/2099 Federal Tax Lien 292396 09/16/1986 01/01/2099 Federal Tax Lien Release Debtor Names: PERK UP INC PERK-UP, INC. AND D/B/A CHINA PACK AND
D/B/A KARI-OUT CO., AND D/B/A INL 4 DIVISION STREET, TARRYTOWN, NY
10591-0000, USA PERK-UP, INC. 399 KNOLLWOOD ROAD, WHITE PLAINS, NY
10603-0000, USA PERK-UP, INC. AND D/B/A CHINA PACK AND
D/B/A KARI-OUT CO., AND D/B/A INL 4 DIVISION STREET, TARRYTOWN, NY
10591-0000, USA PERK-UP, INC. AND D/B/A CHINA PACK AND
D/B/A KARI-OUT CO., AND D/B/A INL 175 CLEARBROOK ROAD, ELMSFORD, NY
10523-0000, USA PERK-UP, INC. AND D/B/A CHINA PACK AND
D/B/A KARI-OUT CO., AND D/B/A INL 175 CLEARBROOK ROAD, ELMSFORD, NY
10523-0000, USA CHINA PACK Not Available PERK-UP, INC. AND D/B/A CHINA PACK AND
D/B/A KARI-OUT CO., AND D/B/A INL 109 FAIRVIEW PARK DRIVE, ELMSFORD, NY
10523-0000, USA PERK-UP, INC. AND D/B/A CHINA PACK AND
D/B/A KARI-OUT CO., AND D/B/A INL 109 FAIRVIEW PARK DRIVE, ELMSFORD, NY
10523-0000, USA KARI OUT CO Not Available INL Not
Available PERK UP INC Not Available Secured Party Names: ISRAEL DISCOUNT BANK OF NEW YORK 235323 11/10/1992 11/10/1997 Financing Statement 263361 12/17/1993 11/10/1997 Financing Statement Amendment 013971 01/24/1994 11/10/1997 Financing Statement Amendment 145753 07/19/1995 11/10/1997 Financing Statement Amendment 040962 02/27/1997 11/10/1997 Financing Statement Amendment 117831 06/09/1997 11/10/2002 Continuation 228502 11/21/2001 11/10/2002 Financing Statement Amendment 220316 09/27/2002 11/10/2007 Continuation 200706145583929 06/14/2007 11/10/2012
Continuation 201211056229529 11/05/2012 11/10/2017
Continuation 201710026192786 10/02/2017 11/10/2022
Continuation Debtor Names: PERK-UP, INC. 4 DIVISION ST., TARRYTOWN, NY 10591, USA PERK-UP INC. 4 DIVISION ST., TARRYTOWN, NY
10591-0000, USA Secured Party Names: YALE FINANCIAL SERVICES, INC. Not Available File no. File
Date Lapse Date Filing Type Pages 203067 09/24/1993 09/24/1998 Financing Statement 069718 04/02/1998 09/24/2003 Continuation 200304020729066 04/02/2003 09/24/2003 Financing Statement Amendment 200304020729078 04/02/2003 09/24/2008
Continuation Debtor Names: PERK-UP, INC. 399 KNOLLWOOD ROAD, SUITE 309, WHITE
PLAINS, NY 10603-0000, USA Secured Party Names: IDB LEASING, INC. 511 FIFTH AVENUE, NEW YORK, NY
10017-0000, USA File no. File
Date Lapse Date Filing Type Pages 041628 02/21/2002 02/21/2007 Financing Statement Debtor Names: PERK-UP,INC. 399 KNOLLWOOD ROAD, SUTIE 309, WHITE
PLAINS, NY 10603-0000, USA Secured Party Names: IDB LEASING, INC. 511 FIFTH AVENUE, NEW YORK, NY
10017-0000, USA File no. File
Date Lapse Date Filing Type 046023 02/26/2002 02/26/2007 Financing Statement 200301150107906 01/15/2003 02/26/2007 Financing Statement Amendment |
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OFAC Sanctions List Search |
The company is not listed in the OFAC
list. |
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SUMMARY |
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Founded in 1964, Perk-up, Inc. is an
organization in the General Warehousing and Storage Industry headquartered in
White Plains, New York. The company has 280 regular employees.
It operates nationally, mainly importing from India, China, Poland, Finland
and Turkey. It is ACTIVE in business with no
negative records. |
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RISK INFORMATION |
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DEBTS |
Controlled |
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PAYMENTS |
Regular |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW |
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NAME |
- |
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POSITION |
- |
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COMMENTS |
The person contacted was reluctant to
provide any information. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.27 |
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1 |
INR 89.72 |
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Euro |
1 |
INR 79.52 |
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US Dollar |
1 |
INR 64.19 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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PRI |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.