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American House Foundation Celebration
The atrium at American Center was a happening place when 250 people ($150, $175 tickets) gathered there for the eighth annual Celebration of Dignity and Hope. The guest list included people from event sponsors like REDICO, Continuum Services and American House Senior Living Communities. (See photo gallery for all sponsors.) They chatted, sipped, supped on the stroll, bought raffle tickets and bid $23,000 for the 49 silent auction items. During a brief pause in the festivities, foundation president Rob Gillette named and profusely thanked all the donors, including Randi Watchowski for invaluable help with the auction. He also emphasized that foundation dollars support seniors in need, not residents of American House.
Aaron F. Belen , owner of AFB Hospitality restaurants Bistro 82 and Sabrage , located on the first and second floors of 401 S. Lafayette in Royal Oak, is bringing a new hot spot to downtown Royal Oak with The Morrie , a roadhouse style restaurant at 511 S. Main Street, expected to open by the end of July. Executive chef Derik Watson , who’s been with Belen since the launch of Bistro ...more»
Marc Bogoff , chef-owner of Stockyard food truck, and friend Eli Boyer , formerly of Gold Cash Gold , will launch a seafood and vegetable-focused restaurant, equipped with a raw bar. Located across from Luxury Lanes bowling alley, at 600 Vester Avenue in Ferndale, Bogoff said construction on the currently unnamed restaurant will begin in early June, with hopes of an autumn opening. "Raw seafood ...more»
03/28/2011 - Daniel Sillman began the Ross School of Business at University of Michigan thinking he'd become an investment banker. But a chance encounter his freshman year with two Michigan football players who became his close friends led him to create Compass Management Group to provide financial management for professional athletes.
Sillman, 22, graduated from Ross in Dec. 2010, on the fast track since he had already begun his company to work with his two friends, Brandon Graham and Brandon Minor, who left U-M as top picks in Dec. 2009 to enter the NFL, and provide them with financial guidance and management once they left school.
"Statistics show that 78 percent of NFL athletes declare bankruptcy or are financially distressed within two years of retirement; it's 65 percent in the NBA within five years," Sillman said. "It's because most athletes lack core financial strength. They hire agents who negotiate their contracts and sponsorship deals, and they might hire someone to open a portfolio for them, and they think they're all set. The word financial advisor throws them. They're often coming from the inner city, and suddenly, they're coming into wealth, like a lottery winner."
While undergrads, Graham and Minor spent holidays and weekends at Sillman's Birmingham home, and Sillman and his father, David, began looking into business managers for them as their need became apparent. "What we realized is that there is a huge presence for entertainers and corporate space, but not for athletes. These athletes should treat themselves the same as someone else with wealth," Sillman said. Just as Graham and Minor had prepared themselves for the NFL by practicing football for years, Sillman realized he had been preparing himself for his career with Compass not only via his business school studies, but at the foot of his father's chair, watching, listening, observing.
"I've been going to the office with my father since I was 5," he said. "I rely on my father for life experience and financial experience."
Compass Management Group, so called because it provides direction, guidance and discipline to athletes, provides attorneys, accountants, insurance consultants, tax planning, bill paying, private banking, estate planning, portfolio management, business consulting and vetting services, and retirement planning.
"The average football career is three years; the average basketball career is four or five years. They could live to be 100. They have to realize they are being compensated for their entire lives, not just their pro careers," Sillman said. He creates a level of transparency and professionalism for the athletes, which now number 11, that he manages. All of the athletes, including Desean Jackson, Jimmy Smith, Manny Harris and Jurrell Casey, have come to him by word-of-mouth through locker rooms.
A Groves High School graduate, Sillman doesn't have much free time at the moment, as he is setting up a satellite office in Los Angeles. "But we'll always be here. With a cell phone, fax and Internet, I can be anywhere. This is where our trusted advisors are."