Niranjan Shah and Many Others Join Ready for Hillary

Senator Dick Durbin of Illinois is the second-ranking Democrat in the Senate. In 2008, he was an early backer of Barack Obama’s presidential campaign. Now, he is ready to throw his support to Hillary Rodham Clinton’s 2016 presidential campaign. He and fellow democrats, Chicago Mayor Rahm Emanuel and Illinois Attorney General Lisa Madigan, will headline the Ready for Hillary fundraiser. The pro-Clinton super PAC is running grass-roots support for Clinton’s potential presidential run. These three political powerhouses are listed as guests at the June 5th reception in Chicago, which is hosted by several Obama donors.

 The high-dollar fundraiser highlights the early support for Hillary Clinton from Obama’s political circles. It is good to see them support Hillary, while Vice President Biden thinks about making a presidential run as well. Jim Messina, Jeremy Bird and Mitch Stewart are Senior staffers for Obama and are advising the Super PACs. Two other Democrats, Tim Kaine of Virginia and Claire McCaskill of Missouri, were early supporters of Obama and have already agreed to join Ready for Hillary. The third-ranking Democrat in the Senate, Senator Charles E. Schumer of New York endorsed Hillary on a visit to Iowa.

Senator Dick Durbin was with Obama since he ran against Clinton in 2008. Emanuel was a political advisor for Bill Clinton and chief of staff for Obama. He endorsed Hillary Clinton. Madigan served in Illinois state legislature with Obama and quickly became a rising star.

The Chicago reception is selling tickets at a steakhouse called Phil Stefani’s for $1,000 a seat. This will be the biggest fundraiser for Ready for Hillary. The grass-roots tickets are about $20. Laura Ricketts, a co-owner of the Chicago Cubs, will be a co-host and donated a lot to Obama. Her Father Peter Ricketts who founded Ameritrade funds the GOP. Her brother Peter, won the GOP governor nomination for Nebraska.

Other Obama supporters that will host the committee include Jewish leaders Andrea and Alan Solow and political strategist Kevin Conlon. There are many philanthropists and democratic donors going and Niranjan Shah is one of them. He is a successful entrepreneur and democratic donor that is always looking for ways to give back to the community.

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David Zalik grows GreenSky into $4 billion company

When David Zalik founded GreenSky  back in 2006, he quickly realized that his vision for creating big-ticket point-of-sale loans was far more radical than anything that most commercial bankers had ever heard of. Unfortunately, the radical nature of his proposed business model didn’t appeal to the bankers that he went to in search of startup loans to launch his company. As a result, Zalik was forced to finance the entire operation himself. He took out loans using his entire real estate empire, properties worth an estimated $12 million.

Building a new model from the ground up

Zalik took a huge risk to start his firm, which would eventually become known as GreenSky . The model he was proposing had never been tried before. Zalik was essentially trying to build a mechanism by which average consumers could have access to the same kind of bridge financing upon which large real estate developers and other commercial enterprises routinely rely. The brilliance of Zalik’s insight lay in the fact that those commercial businesses would be foregoing tens or hundreds of billions of dollars per year in projects if they didn’t have access to such findings. What Zalik saw was that the same thing was true in the retail sector. Yet, there were no such mechanisms for consumers to push their own home remodeling projects through. This meant that the home improvement industry was losing billions of dollars per year in projects that could have materialized if it weren’t for a lack of immediate liquidity.

The other key factor behind the enormous success of the GreenSky  business model is that everyone involved in the company’s deals wins. The homeowners who are seeking to remodel but don’t have the liquid capital available aren’t typically just doing these projects on a pure whim. The remodeling projects themselves usually add far more to the value of the home than their cost, giving the homeowners an instant and large return on capital.

At the same time, the contractors who promote GreenSky  loans get business that would have otherwise not been there. And the banks making the loans get prime loans on their books, improving their financial position.