occurs. He compared our current economic situation with that of the early 1980s, when the economy fell into recession for six months, then witnessed three months of growth, then dipped back into recession (hence
New York, NY (Vocus) February 16, 2010
Speaking at the third Association for Corporate Growth (ACG New York) conference on Long Island at the Westbury Manor on January 12, 2010, Dr. Irwin Kellner, the chief economist for MarketWatch.com, mapped out his economic forecast for 2010, and discussed how it would affect the business world at large, and particularly on Long Island.
With over 180 professionals in attendance from such diverse industries as private equity, investment and commercial banking, law, financial advisory, and accountancy, Kellner predicted that our current economy, while recessionary, would bounce back by taking on a W-shaped recession profile. Within this profile, Kellner noted that “a “double dip” occurs. He compared our current economic situation with that of the early 1980s, when the economy fell into recession for six months, then witnessed three months of growth, then dipped back into recession (hence “double dip”) before it finally entered a period of robust growth for the remainder of the decade.
While many of ACG’s members live in Long Island, until just recently its 40 conferences and events have been held in New York City and Westchester. According to Robert Blumenfeld, President of ACG New York and a Managing Director at Buccino & Associates, ACG’s goal is to expand business growth in Long Island by bringing together business professionals ranging from companies looking to grow, firms providing capital, access to deal flow, as well as those involved in advisory services. According to Mr. Blumenfeld, “In many cases, ACG has been instrumental in bringing together middle market professionals with all the nuts and bolts to source as well as close a business transaction.”
ACG New York’s Long Island Division is led by Barry Garfield, CPA, a partner at Holtz Rubenstein Reminick, Certified Public Accountants and Business Advisers in Melville and NYC. According to Mr. Garfield, ACG’s goal is to support and grow business in Long Island by supporting companies with access to capital as well as promoting Long Island and its rich resources as a great place to grow a company. Future events will focus on how to raise capital in today’s recession. “We are making these ACG’s forums indispensable for any individual working on Long Island who not only wants information on our their local economy, but also wants to meet those people who make our economy happen. Dr. Kellner’s presentation certainly proved how indispensable these events can be.”
About ACG New York:
The Association for Corporate Growth of New York (ACG NY) is the premiere membership organization that facilitates relationship building and focused education for middle market deal-making professionals in the world’s financial capital. Each year, ACG NY offers its members over 40 events including educational meetings, monthly luncheons, breakfasts and six large networking events.
Attracting over 4,500 participants, ACG NY provides its members with opportunities to meet and establish on-going business relationships with decision-making members of the investment community involved with Private Equity, Hedge Funds, Debt and Equity Investment, Investment Banking, Intermediaries, Service Providers and Corporate Development Executives to exchange valuable up-to-the-minute deal intelligence and fostering trust and significant transactional deal-making in public and private companies.
With an active membership of nearly 1000 members in New York City, Long Island and Westchester, ACG NY is committed to further growth and expansion to include more disciplines within corporate growth and larger geographic scope to the benefit of its members. Successful growth will be measured by increased membership, sponsorships, financial strength, participation and ultimately by the volume of deal-making, corporate growth and corporate development resulting from ACG NY associations.
ACG NY is part of a global organization, which was founded in 1954, and today encompasses over 13,000 members in 54 chapters in North America, Europe, and China.
The event was sponsored by Holtz Rubenstein Reminick, Farrell Fritz, Eisner, Empire Valuation Consultants, Bowne Virtual Dataroom and media sponsors, The Deal, The M&A Advisor and Mergers & Acquisitions.
The next Long Island Event will be held on Thursday, April 22, 2010, 6pm-9pm at the Fox Hollow in Woodbury, New York. For further information and upcoming events, visit http://www.acgnyc.org .
ACG New York
President, ACG New York