Joel Ross Joel Ross

As experienced deal makers, it is surely not a surprise to you that in Washington, there is always a group that says “there is no way I am voting for this unless I get what I want.” Many of the deals I have been involved in start with must haves and will never agree to’s. But as often happens, wither the need or desire to get to close overwhelms the I will never. Most situations in deals or legislation have some way to compromise if the parties are intelligent and understand that is what negotiations are all about. In the end, time runs out and one party concedes the point, the other side gets fed up and walks or threatens to walk, or one party is so unreasonable that the other party really does walk away until the opposing group says OK. Legislation is no different.

So the point of this is, you need to ignore all the TV posturing of Rand Paul, and the Freedom Caucus, and Pelosi claiming “people will die.” They are just preening for the cameras and hoping to make points for the next election. If you read any of the biographies of Lyndon Johnson, you understand that the real negotiation is behind closed doors when the pressure is applied, or the Congressman is handed some project he wants to tell his constituents he got for them. There are many ways a leader can squeeze or bribe a Congressman, and get him to vote as needed despite what he says in front of cameras. So ignore all the huffing and puffing over the healthcare bill. Trump will negotiate trades to get the conservatives on board, and not to let the moderate senators have a case to vote no. Because healthcare is so all encompassing to the economy and people’s personal lives, it is very emotional, and complicated to work it out in a way that is fiscally sound yet seems compassionate. Obamacare was created behind closed doors by a couple of people, so there was no open discussion, and therefore it made no sense and failed miserably. The Republican plan will at least get a thorough hearing of ideas and compromises. Trump the deal guy will get everyone on board and it will be passed.

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Joel Ross

Joel Ross began his career in Wall St as an investment banker in 1965, handling corporate advisory matters for a variety of clients. During the seventies he was CEO of North American operations for a UK based conglomerate, and sat on the parent company board. In 1981, he began his own firm handling leveraged buyouts, investment banking and real estate financing. In 1984 Ross began providing investment banking services and arranging financing for real estate transactions with his own firm, Ross Properties, Inc. In 1993 Ross and a partner, Lexington Mortgage, created the first Wall St hotel CMBS program in conjunction with Nomura. They went on to develop a similar CMBS program for another major Wall St investment bank and for five leading hotel companies. Lexington, in partnership with Mr. Ross established a hotel mortgage bank table funded by an investment bank, and making all CMBS hotel loans on their behalf. In 1999 he formed Citadel Realty Advisors as a successor to Ross Properties Corp., focusing on real estate investment banking in the US, UK and Paris. He has closed over $3.0 billion of financings for office, hotel, retail, land and multifamily projects. Ross is also a founder of Market Street Investors, a brownfield land development company, and has been involved in the acquisition of notes on defaulted loans and various REO assets in conjunction with several major investors. Ross was an adjunct professor in the graduate program at the NYU Hotel School. He is a member of Urban Land Institute and was a member of the leadership of his ULI council. In 1999, he conceived and co-authored with PricewaterhouseCoopers, the Hotel Mortgage Performance Report, a major study of hotel mortgage default rates.

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