Episode 72

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Published on:

16th Sep 2022

Amazon is Pulling Out, Bank of America Oops and Disney Almost Bought Twitter

It would appear that yet another prediction made by Chris and Saied has proven itself true: The bond and treasury markets would start moving and put upward pressure on the 30-year mortgage rate. According to a headline from CNBC, mortgage demand from homebuyers has fallen 29% since last year, as interest rates surge past 6%. Application volume dropped 1.2% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.

In today's episode of The Higher Standard, Chris and Saied discuss this data as well as Jerome Powell and the Fed's desire to be as communicative as possible as we approach a likely 75 basis point increase.

They talk about Cineworld's reported decision to file for chapter 11 'reorg' to address a potential liquidity crunch, restructure more than $5 billion of debt and resolve a $950 million adverse court judgement. Chris also explains the difference between a reorg and a standard bankruptcy procedure.

Chris and Saied look at Amazon's decision to reduce the size of its sprawling delivery operation amid slowing sales growth, by abandoning dozens of existing and planned facilities around the US.

They also explore Bank of America's new loan program created for Black and Hispanic neighborhoods to boost homeownership where it lags. The result was a PR disaster that had some pundits claiming it was 'racist,' while others say the media misconstrued the intent. Either way, it's a mess.

This is a show you do not want to miss! Join Chris and Saied for this fascinating conversation.

Enjoy!

What You’ll Learn in this Show:

The difference between a chapter 11 reorganization and a standard bankruptcy procedure as it applies to business.
Why Amazon is abandoning dozens of existing and planned delivery facilities around the US.
The PR confusion surrounding Bank of America's new loan program created for Black and Hispanic neighborhoods to boost homeownership.
And so much more...

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About the Podcast

The Higher Standard

This isn’t a different standard, it’s the higher standard.

Welcome to the Higher Standard Podcast, where we give you ultra-premium, unfiltered truth when it comes to building your wealth and curating the lifestyle of your dreams. Your hosts; Chris Naghibi and Saied Omar here to help you distill the immense amount of information and disinformation out there on the interwebs and give you the opportunity to choose a higher standard for yourself. Sit back, relax your mind and get ready for a different kind of podcast where we elevate your baseline with crispy high-resolution audio. This isn't a different standard. It's the higher standard.

About your host

Christopher Naghibi

Christopher M. Naghibi is the host and founder of The Higher Standard podcast — a rapidly growing media platform delivering unfiltered financial literacy, real-world entrepreneurship lessons and economic commentary for the modern era.

After nearly two decades in banking, including his most recent role as Executive Vice President and Chief Operating Officer of First Foundation Bank (NYSE: FFWM), Christopher stepped away from corporate life to build a brand rooted in truth, transparency, and modern money insights. While at First Foundation, he had executive oversight of credit, product development, depository services, retail banking, loan servicing, and commercial operations. His leadership helped scale the bank’s presence in multiple national markets from $0 to over $13 billion.

Christopher is a licensed attorney, real estate broker, and general building contractor (Class B), and he brings a rare blend of legal, operational and real estate expertise to everything he does. His early career spanned diverse lending platforms, including multifamily, commercial, private banking, and middle market lending — holding key roles at Impac Commercial Capital Corporation, U.S. Financial Services & Residential Realty, and First Fidelity Funding.

In addition to his media work, Christopher is the CEO of Black Crown Inc. and Black Crown Law APC, which oversee his private holdings and legal affairs.

He holds a Juris Doctorate from Trinity Law School, an MBA from American Heritage University, and two bachelor degrees. He is also a graduate of the Yale School of Management’s Global Executive Leadership Program.

A published author and sought-after speaker (unless it’s his son’s birthday), Christopher continues to advocate for financial empowerment. He’s worked pro bono with families in need, helped craft affordable housing programs through Habitat for Humanity, and was a founding board member of She Built This City — helping spark interest in construction and trades for women of all ages.