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Assemi Group, Inc., is an industry leader in land acquisition, land development, home building, farming, medical education, and aviation in Central California. At the heart of Assemi Group, and what has contributed to our success, has been adherence to the highest ethical standards in each line of our businesses and the relationships we have built with our employees, clients, and within the community.
https://assemigroup.com/
Farid Assemi
Principal at Maricopa Orchards LLC
Farshid Assemi
https://www.corporationwiki.com/California/Fresno/farshid-assemi/43603355.aspx
suit was against those "wonderful" people The Resnicks
from 2019
Assemi brothers suing farming giant Wonderful Pistachios over nut payments
The Assemi brothers, known throughout the region for their home building, philanthropy and farming, are suing one of the biggest titans in agriculture over what could be millions of dollars worth of pistachios.
Filed in Fresno County Superior Court, the civil lawsuit accuses Wonderful Pistachios and its billionaire owner Stewart Resnick of breach of contract.
Wonderful Pistachios, whose operations are centered in the San Joaquin Valley, is by far the undisputed leader in the industry, producing the top brand of tree nut in the United States. For years, Wonderful has sourced nuts from more than 800 growers, including the Assemi Brothers company owned by Farid, Farshid and Darius and their associated farming companies.
Darius Assemi is also chief executive officer of Granville Homes. And the family, led by Farid Assemi, is the driving force behind the California Health Sciences University’s College of Pharmacy in Clovis.
When Assemi Brothers announced it was opening its own processing plant in Fresno County in about a year, it apparently did not sit well with Resnick, whose agriculture empire includes other well-known Wonderful brands such as almonds, mandarins, pomegranates and sweet grapefruit.
What’s in the lawsuit
On Jan. 22, Kevin Assemi, chief executive officer of Maricopa Orchards LLC, the company that oversees the Assemis’ farming assets, met face-to-face with Resnick to discuss their business relationship. The meeting did not go well, according to the lawsuit.
“In that meeting, Mr. Resnick told Kevin Assemi that ‘I am going to war with you and I am going to do stuff to you that I would not do to other competitors because I have to make sure you are not successful with your plant,’” the lawsuit states. “Mr. Resnick also said, ‘I am going to destroy you and make sure you fail so that no grower ever leaves and tries to make it on their own processing and marketing.’”
Resnick also is alleged to have bad-mouthed Assemi Brothers during Wonderful Pistachio’s grower meeting in Visalia on March 15. At the meeting, Resnick allegedly told the audience that the Assemis were leaving to build their own processing plant and that “he was going to (expletive) them.”
Assemi Brothers alleges that as a consequence of the proposed departure, Wonderful Pistachios is attempting to short-change the company for its 2018 crop of pistachios. What’s missing is the “Grower Partner Bonus,” a payment that is given to growers at the end of the season. That bonus makes up about 30% of the price that is paid to the grower. And for large growers like Assemi and its farming companies, that could add up to millions of dollars, an industry analyst said.
moar here
https://www.fresnobee.com/news/local/article235147597.html
Meet the California Couple Who Uses More Water Than Every Home in Los Angeles Combined-The Resnicks
https://www.motherjones.com/environment/2016/08/lynda-stewart-resnick-california-water/
China warns US audit plan will harm both sides
HONG KONG – The U.S. is "politicizing securities regulation" with a proposed law that could force Chinese companies off American stock markets, hurting both countries, China's top stock market watchdog warned Sunday.
China is targeted by some parts of the bill, the China Securities Regulatory Commission said in a statement opposing the Holding Foreign Companies Accountable Act that the Senate passed last week by unanimous consent.
Foreign companies would have to leave U.S. stock markets if they fail to comply with the nation's regulatory audits for three consecutive years – a requirement Chinese companies cannot yet meet, owing to CSRC rules.
The legislation still needs to pass the House of Representatives and be signed by President Donald Trump. It affects 233 Chinese companies with a combined market valuation of $1.03 trillion, according to Goldman Sachs. The U.S. investment bank estimates that U.S. investors currently hold $350 billion worth of these stocks. The proposed law "would certainly harm the interests of both China and the U.S.," the CSRC said in Sunday's statement. "While impeding foreign issuers from listing in the U.S., it would also undermine global investors' confidence in the U.S. capital markets and weaken the U.S. markets' international standing."
This marked another snag in relations between the world's two largest economies, notwithstanding a temporary truce in the trade war after one and a half years of tariff escalation. The White House released a report last week a spelling out a "fundamental reevaluation" of relations with China, which then said Sunday that political forces in the U.S. are pushing the two powers into a new Cold War.
Washington's proposed law "completely ignores the continuous efforts made by Chinese and U.S. regulators to enhance audit oversight cooperation," said the CSRC, which expressed a hope that both sides will work together to protect investors' interests.
The U.S. Public Company Accounting Oversight Board has long complained of a lack of access to the audit work papers of board-registered firms in China. Since the 2013 signing of a memorandum of understanding, Chinese cooperation "has not been sufficient for the PCAOB to obtain timely access to relevant documents and testimony," the board said recently.
While U.S. regulators have raised noncompliance concerns as a matter of investor protection, the focus has recently intensified with recent cases of alleged accounting irregularities, such as Luckin Coffee. The coffee chain, which listed on the Nasdaq market last year, said in April that senior managers had inflated revenue by $310 million, sending its shares crashing.
Chinese corporations have preferred for years to list in U.S. capital markets for their deep investor base and their dollars amid capital controls at home. And as Sino-American tensions flare anew, top Chinese technology companies are putting together contingency plans for raising capital, such as Hong Kong dual listings, people familiar with the moves have said.
Alibaba Group Holding, which led the move into Hong Kong with a secondary listing last year, said it is "closely monitoring the developments of this bill." Game developer NetEase, e-commerce operator JD.com and internet search company Baidu are among the Chinese companies said to be considering Hong Kong listings.
The potential for tighter regulatory scrutiny would likely accelerate the dual-listing trend in Hong Kong, Goldman Sachs said.
https://asia.nikkei.com/Economy/Trade-war/China-warns-US-audit-plan-will-harm-both-sides
U.S. Treasury Urges Independent Investigation Into African Development Bank Head
U.S. Treasury Secretary Steven Mnuchin rejected plans by the African Development Bank’s board to end an investigation into its president, Akinwumi Adesina, and called for an independent probe into allegations against him. In a letter dated May 22 and addressed to Niale Kaba, chairwoman of the bank’s board of governors, Mnuchin said the Treasury disagrees with findings by the bank’s ethics committee that “totally exonerated” Adesina. Kaba confirmed receipt of the document and declined further comment. The intervention by the Treasury, the AfDB’s biggest non-African shareholder, comes two weeks after the ethics committee found no evidence to support allegations of favoritism by Adesina. The 60-year-old bank chief, who has repeatedly refuted the allegations, is the only candidate up for election as president at an annual general meeting scheduled for August. “We have deep reservations about the integrity of the committee’s process,” Mnuchin said. “Instead, we urge you to initiate an in-depth investigation of the allegations using the services of an independent outside investigator of high professional standing.”
The U.S. Treasury didn’t immediately respond to an emailed request for comment. U.S. criticism of the bank’s internal processes follows comments by World Bank President David Malpass in February that multilateral lenders including the AfDB tend to provide loans too quickly and, in the process, add to African nations’ debt problems. The bank rebutted the statements as “inaccurate and not fact-based.” The AfDB is Africa’s biggest multilateral lender and has an AAA rating from Fitch Ratings, Moody’s Investors Service and S&P Global Ratings. Its shareholders are Africa’s 54 nations and 27 countries in the Americas, Europe, Middle East and Asia. In March, the lender issued a $3 billion social bond to help African countries deal with the fallout from the coronavirus pandemic. Bids for the securities on the London money market exceeded $4.6 billion. The bank also launched a $10 billion crisis-response facility for African nations.
https://www.bloomberg.com/news/articles/2020-05-24/u-s-treasury-urges-independent-investigation-into-afdb-head
cal ones are just as good if not better
VM767 and VM374 USMC C-560's departed Orlando/Melbourne Int'l north from an inbound of JBA
the protruding pec muscle didn't say that to you?