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Public Financial Disclosure Report For Jason Furman
Jason Furman is the deputy director of the White House National Economic Council, which coordinates policy-making for domestic and international economic issues and provides economic policy advice to President Obama.
Last year Furman reported income from the following sources
- Brookings Institute, $98,910
- Stanford University, $2,500
- Obama-Biden Presidential Transition, $19,538
- Washington Post - Slate, $500
- New York University, $3,000
- Obama for America, $3,000
- LA Times, $400
- Center for New American Security, $1,250
In his financial form, Furman lists the following assets valued at between $5 million and $25 million:
- Jason Furman Trust, which provided him with income in 2008 of between $100,001 and $1,000,000;
- MF Est. LLC, “a limited liability company involved in the development, ownership and management of shopping centers in approximately 20 states and Puerto Rico, hotels in New York, Georgia and Florida; office buildings in Massachusetts and Washington; industrial facilities in New York and New Jersey; residential condominiums in New York; and senior citizen health care in Massachusetts. It also has a passive investment in Rho Ventures, an investment in Vornado Reality Trust (a publicly traded company) and is involved in making commercial real estate loans. The owners of MF Est. LLC are family members (Jay Furman, Jason Furman’s father, his sister and their children) and MF Est. Limited Partnership has the same partners; however, ownership percentages vary,” according to the financial disclosure form. MF Est. LLC provided Furman with income in 2008 of between $100,001 and $1,000,000.
Furman lists the following assets valued at between $250,001 and $500,000:
- Smith Barney Bank Deposit Program, which provided him with income of between $5,000 and $15,000 in 2008; and
- Morgan Stanley AAA NY Muni, which provided him with income of between $1,001 and $2,500 in 2008.
Furman lists the following assets valued at between $100,001 and $250,000:
- Morris Furman Trust, “which owns a passive interest in a building in Queens, N.Y., net leased to New York City.” This trust provided Furman with income in 2008 of between $50,001 and $100,000.
Furman lists the following assets valued at between $50,001 and $100,000:
- Rho Capital Partners 1999 LP;
- Citibank Checking & Savings, which provided him with income of between $201 and $1,000 in 2008;
- Powershares NY Muni;
- NFO Claymore Sabrient Insider ETF, which provided him with income of between 2,501 and $5,000 in 2008;
- XLP Consumer Staples Sel Sector SPDR, which provided him with income of between $201 and $1,000 in 2008; and
- Vanguard International Equity Index.
Furman lists the following assets valued at between $15,001 and $50,000:
- Alien Technology Corp.;
- Oppenheimer Limited Term, which provided him with income of between $1,001 and $2,500 in 2008;
- Enterprise Prods Partners LP;
- Oppenheimer Limited Term, which provided him with income of between $1,001 and $2,500 in 2008;
- Clair Shores Properties, which provided him with rent and royalties of between $1,001 and $2,500 in 2008;
- American Securities Partners II LP, an “expedited investment fund” that provided him with income of between $15,001 and $50,000 in 2008; and
- MF Est. Limited Partnership, which he describes as being “a limited partnership (organized in Delaware with its principal place of business in New York, N.Y.) owning a vacant lot in Pennsylvania.”
Furman lists the following assets valued at between $1,001 and $15,000:
AES Trust III 6.75 Conv.; American Electric Power; Blackrock N.Y. Municipal Income Trust; Ishares Xinhau HK; King Pharmaceuticals Inc.; Teco Energy Inc.; Verizon Communications; Xcel Energy; Eaton Vance Insured New York; Emerging Markets Telecomm Fund; Ishares MSCI Brazil Index Fund; King Pharmaceuticals Inc.; Gabelli Utilities Fund; Chase Checking & Savings; and Morgan Stanley Bank.
Furman lists the following assets valued below $1,000:
- Citigroup, Cohen & Steers Worldwide Realty Income Fund;
- Fairpoint Communications;
- Hypercom Corp.;
- Idearc Inc.;
- Al Varion Ltd.;
- Atmel Corp..;
- Cohen & Steers REIT & Util.;
- Duke Energy Corp.;
- Fairpoint Communications;
- Great Plains Energy;
- Hypercom;
- Ing Clarion Global Real Estate;
- LSI Corp;
- Northwestern Corp.;
- Spectra Energy Corp.;
- Time Warner;
- Fidelity Advisory Biotechnology;
- Travellers;
- Battery Park City Bonds;
- Aquila Inc.;
- BLDRS Asi 50 SDR Index Fund;
- BLDRS Developed Markets 100;
- Bldrs. Emerging Markets 50;
- Ishare MSCI EAFE Value Index;
- Pepsico;
- Plum Creek Timber Co.;
- Western Asset Money Market;
- Blackrock Global Opportunities;
- Gabelli Dividend & Income;
- Honda Motor Corp.;
- Lazard Global Total Return & Income Fund;
- Assurant;
- Chevron;
- Macquarie Global Infrastructure;
- Market Vectors ETF;
- and Wisdom Tree DEFA Dividend Fund.
In his financial disclosure form submitted on February 3, 2009, and approved by the Office of Government Ethics on March 23, 2009, Furman notes that he is secretary of the board of the Furman Foundation in New York. The trust has interests in the following entities “of which I am an income beneficiary with rights to principal distribution from the age of 40,” he writes in his form:
- 3750 Monroe Avenue Associates, a New York general partnership that owns an industrial facility in Rochester N.Y. The valuation of assets is of between $100,001 and $250,000. In 2008, Furman said he received rent and royalties from the partnership of between $15 000 and $50,000.
- KIM-FUR Retail Holdings LLC, a limited liability company, has ownership interest in shopping centers in Puerto Rico and New Jersey with a valuation of assets of between $100,001 and $250,000. In 2008, Furman received income from rent, royalties and capital gains from this asset of between $50,001 and $100,000.
- MJS Ponce II (and III) LP, which own retail investment properties in Puerto Rico valued at between $15,000 and $50,000 apiece, from which Furman did not report income in 2008;
- JJPR LLC, a limited liability company with interests in shopping centers in Puerto Rico and New Jersey and organized in Delaware. The company has assets of between $100,000 and $250,000. Furman indicated that he received between $15,000 and $50,000 in capital gains from the entity in 2008.
- PECO Rho LLC is a limited liability company with an investment in Rho Ventures IV, LP, a limited partnership organized in Delaware with a principal place of business in Quogue, N.Y., Furman holds financial interests ranging in value of between $1,000 and $250,000 in 22 technology companies:
- Anacor Pharmaceuticals, Palo Alto, Calif.;
- Archemix, Cambridge, Mass.;
- Avolent, San Francisco;
- BroadLogic, San Jose;
- Gloucester Pharmaceuticals, Cambridge Mass.;
- InnerWireless, Richardson, Texas;
- Inotek, Beverly, Mass.;
- Integral Wave, Austin, Texas;
- IntraLinks, New York, N.Y.;
- MegaPath Networks, Costa Mesa, Calif.;
- Multispectral Imaging, Parsippany, N.J.;
- NitroMed, Bedford, Mass.;
- OraMetrix, Richardson, Texas;
- Orqis Medical, Lake Forest, Calif.;
- Sionex Inc., Waltham, Mass.;
- SiTV, Los Angeles;
- Tercica, South San Francisco;
- Tolerx, Cambridge, Mass.;
- Vanda Pharmaceuticals, Rockville. Md.;
- Verenium, Cambridge Mass.;
- Verified Person, New York, N.Y.; and
- WiNetworks, Waltham, Mass.
He reported no income from these investments in 2008.
- Rho Capital Partners 1999 LP is a limited partnership through which Furman says he has financial interests ranging in value of between $1,000 and $100,000 in nine companies:
- Alient Technology, Morgan Hill, Calif.;
- Avolent, San Francisco;
- IntraLinks, New York, N.Y.;
- Medical Present Value, Austin, Texas;
- NitroMed, Bedford, Mass.;
- ON24, San Francisco;
- First Hand Knowledge, Charlestown, Mass.;
- Senomyx, La Jolla, Calif.; and
- Waterfront Media, Brooklyn, N.Y.
Furman reported no income from these investments in 2008.
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