The second edition of the Italian Reputation Awards took place this past weekend at the prestigious Italian Cultural Institute on Park Avenue in New York City. Hosted in collaboration with the Italian Cultural Institute of NYC, Reputation Research, and the Italia-America Reputation Lab Foundation, the awards honor outstanding achievements in various fields, showcasing how Italians abroad enhance the global image of Italy.

The event was held in the elegant halls of the Italian Cultural Institute, with notable attendees including Director Fabio Finotti, Hon. Christian Di Sanzo, a Member of the Italian Parliament elected in the North and Central America Constituency, and Silvana Mangione, Deputy Secretary General of the General Council of Italians Abroad.

Moderated by Sky TG24 journalist Cristiana Mancini, the ceremony began with a video message from the Consul General of Italy in New York, Fabrizio Di Michele. He emphasized the importance of reputation as an “intangible yet invaluable asset.” Highlighting New York’s unique connection to Italian culture, he remarked, “New York is one of the most Italian cities outside of Italy.” Additionally, Italian Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, Antonio Tajani, sent a written greeting, applauding the winners and noting, “The Italian Reputation Award is a significant recognition for individuals who have consistently promoted Italy worldwide with dedication and innovation.”

Each honoree received a handcrafted medal created by renowned artisan Marco De Luca, celebrated for designing jewelry for prominent Italian and international productions. Inspired by ancient Roman coins, the medal symbolizes Italy’s rich history and prestige. At its center is an engraving of Euclea, the spirit of good reputation and glory—a fitting emblem for those who strengthen Italy’s global image through their work.

“Our analytical model,” explained Davide Ippolito, founder of Reputation Research, “is patented with the Ministry of Economic Development and provides a framework to differentiate the positioning of a brand or individual across ten dimensions. Fifteen years ago, reputation was seen as an abstract and subjective concept. This ambiguity motivated me to explore and define its governing processes.”

Honorees of the Second Italian Reputation Awards

This year’s winners exemplify Italian excellence across various fields, reinforcing the nation’s cultural and innovative legacy worldwide:

• Dario Edoardo Viganò, a priest and cinema scholar, was recognized for his work exploring the intersection of Catholicism and cinema at the Italian Academy. His unique vision bridges faith and art in a dialogue that inspires new cultural reflections.
• Annamaria Colao, a world-renowned endocrinologist, received the award for her groundbreaking contributions to medicine and research on metabolic disorders. “We’re a generation that’s always on the go, but this award encourages us to pause and reflect on our achievements,” she said. Currently, she collaborates with La Scuola d’Italia in New York to promote healthy lifestyles among young Italian expatriates while preserving Italy’s rich culinary heritage.
• Emiliano Ponzi, a celebrated visual artist, was honored for his creative achievements. His illustrations, featured in prestigious publications and books, have captivated audiences worldwide. This year, he showcased his talent through a solo exhibition in New York. “I call it a condition, almost like an affliction: the need to constantly improve through my work,” he shared.
• Matteo Zuretti, a member of the National Basketball Players Association (NBPA), was acknowledged for amplifying Italian influence in international sports. “I often find myself in rooms where I’m the only foreigner. Why? The answer is simple: because I’m Italian. Our cultural identity is a remarkable asset,” he noted.
• Pasquale Punzo was recognized for his work in environmental engineering and sustainability, particularly in water treatment systems. “Our daily work isn’t aimed at reputation but at improving overall well-being,” he remarked.
• In business, Alfonso Cerullo, President of Luxottica LensCrafters, represented the excellence of Italian innovation. Luxottica, a global leader in eyewear, remains a pillar of Italian craftsmanship. “Reputation requires time, ethics, and concrete actions,” Cerullo emphasized during his address.
• Emanuele Battista and Alessio Sansò received recognition for their groundbreaking startup, Limitless Medical. Their innovative wheelchair, which allows users to move while standing, won the “Perfect Pitch” contest organized by the Italian Consulate in Detroit and Retimpresa Confindustria. “Restoring dignity and pride is our mission,” Sansò said.
• Esteemed journalist Mario Calvo-Platero was also honored for his exceptional career, during which he covered historic events for the prestigious newspaper La Repubblica. “Today, journalism often focuses on scandal to gain attention. We need to return to authentic storytelling,” he urged.

The evening featured a live performance by guitarist Davide Pannozzo, adding a unique atmosphere to the celebration.

The event was enriched by the participation of Michael Cascianelli, Principal of La Scuola d’Italia; Carmine Spatolisano, CEO of Telejinform; Pasquale Riccio, President of Progetto Alfa; Don Luigi Portarulo, Pastor of St. Patrick Church New York; and artist Federico Vezzaro. It was supported by the Italian Cultural Institute of New York, Reputation Research, RetImpresa, Progetto Alfa, IARL – Italia America Reputation Lab, and Federmanager.

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On December 6, the event “Architecture and Innovation: Opportunities and Italian Real Estate Heritage” was inaugurated at the Italian Cultural Institute of New York as part of the International Real Estate Developers Forum.

The event, organized by ANSVI (Italian National Association of Real Estate Developers), brought together Italian developers and brokers to explore the dynamics of the New York real estate market and promote new opportunities for international collaboration.

The initiative, spanning two days of meetings and exclusive visits, provided participants with privileged access to prestigious properties and the opportunity to engage with industry experts. Key focuses of the event included sustainability, the repurposing of urban spaces, and the enhancement of historic real estate assets—essential themes for strengthening the competitiveness of Italian real estate operations.

The day opened with welcoming remarks from Professor Fabio Finotti, Director of the Institute, who highlighted how Italy’s rich housing tradition has made the country a model for the recovery and preservation of architectural heritage, often achieved through innovative and sustainable methodologies. Following this, ANSVI President Daniele Cattaneo emphasized the importance of adopting an innovative approach to compete on a global scale. “We will return to Italy with new skills and a clearer vision to face future challenges,” said Cattaneo.

Supporting this message was Andrea Mazzaro, Vice President of ANSVI, who reiterated how the U.S. market serves as a vital benchmark for anticipating trends: “Being here means identifying trends and bringing them to Italy, staying ahead of market changes.”

The inaugural debate was moderated by Davide Ippolito, founder of Reputation Research and ilNewyorkese, who led a roundtable discussion featuring prominent guests. Among them, Alex Carini, CEO of Carini Group, shared his insights on opportunities within the New York market, underscoring the importance of quickly and strategically adapting to changes. Lavinia Giuliani Ricci, an expert broker at Brown Harris Stevens, emphasized the key role of strategic partnerships in accessing high-profile real estate opportunities.

The day concluded with a meeting with architect Maja Filipovic Grcic and the presentation of the Real Estate Excellence Award, established to recognize the most significant contributions of the Italian delegation to the real estate sector. This initiative celebrated the participants’ ability to transfer the skills acquired in New York back to Italy, further solidifying ANSVI’s role as a promoter of international excellence.

The second day of the forum granted participants exclusive access to iconic New York properties, including a visit to Hudson Yards, a symbol of the city’s urban regeneration. During this visit, the Italian delegation had the opportunity to closely observe ongoing urban transformation projects, gaining privileged insights into innovative design solutions and environmental sustainability techniques.

The International Real Estate Developers Forum offered participants the chance to engage with outstanding experiences and build strategic connections with key players in the international real estate sector. Through meetings with brokers, developers, and architects and visits to landmark projects in the New York market, participants returned to Italy with a clearer understanding of global challenges and practical tools to address them.

“This initiative proved to be a pivotal moment for enhancing the competitiveness of Italian companies on an international scale,” said Daniele Cattaneo, President of ANSVI. The knowledge gained, combined with the new connections established in New York, represents a significant step forward for real estate professionals, paving the way for innovative, sustainable projects capable of meeting the demands of an ever-evolving market.

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This week, the Consulate General of Italy in NYC hosted the Italian Minister of Disability, Alessandra Locatelli, for a discussion on disability rights in Italy, in the presence of activists and supporters of the cause.

The theme of the discussion was “Italy and Inclusion: The Person at the Center.” Speakers emphasized the need for disability policies that center on the individual experiences of disabled people, allowing them to pursue ambitions shared by all citizens. Also present at the event was Dr. Nazaro Pagano, president of the Associazione Nazionale Mutilati e Invalidi Civili (ANMIC) and the Federazione tra le Associazioni nazionali dei disabili (FAND).

Consul General Fabrizio Di Michele hosted the event and delivered warm opening remarks welcoming Minister Locatelli.

“I’m talking about all those people who experience a negative interaction with their environment, whether mild, severe, temporary, or permanent, in Italy. We are talking about at least 13 million people… All of us know someone in need,” Minister Locatelli explained to highlight the scale of the issue.

In 1999, Italy became an early adopter of non-discrimination policies in the workplace protecting those with disabilities. Law No. 68 established the “right to work” for disabled people, introducing specific measures to promote employment, prevent discrimination, and facilitate workplace integration. This law also introduced quotas requiring employers to hire a percentage of workers with disabilities and offered incentives for compliance.

“We cannot leave anyone behind if we want to strengthen our communities,” stated Locatelli, who also highlighted the need to update regulations: “There are challenges to overcome” to “improve the living conditions of people with disabilities and their families.”

Vincenzo Falabella, a member of the National Council for Economics and Labor, is closely tied to the cause he advocates as a wheelchair user: “We listen to our citizens, we listen to those living with disabilities, to understand the problems they face in their daily lives, and then we try to translate them into actionable requests for policymakers,” he explained.

In October 2024, Italy hosted the inaugural G7 Ministerial Meeting on Inclusion and Disability in Assisi and Solfagnano. This historic event concluded with the adoption of the Solfagnano Charter, a joint declaration by G7 ministers reaffirming their commitment to eight priorities for ensuring equality and inclusion for disabled people. The event also featured inclusive performances, such as those by bands composed of musicians with disabilities.

Davide Zubani, director of the musical group “Si Può Fare Band,” led one of these performances:
“Inclusion is a universal value,” said Zubani, who described Italy as “a beacon” for disability rights. “Minister Locatelli’s promotion is bearing fruit.”

In 2025, Zubani’s band will perform at the United Nations in NYC, furthering their mission of inclusion.

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This week, the Philippe Labaune Gallery introduced “Together” to the art district’s community. Critics and art lovers packed the small gallery to take in the 16 acrylic paintings in Ponzi’s new collection. A traditional medium for a not-so-traditional process.

Ponzi’s process began with pen and paper: “I began by writing some diary pages, as if two people had written them in secret and I had stolen them and read them and made paintings of them.” Then, explained Ponzi, he constructed his works digitally through Adobe Photoshop, playing around with shapes and colors. Once each image was finalized, he painted it by hand on canvas. A unique process that combines the flexibility of digital experimentation with traditional painting techniques. 

In one painting, titled “The First Time,” a young couple meets in an empty park, bathed in a glow of green light as sunshine gushes in from above through the thick foliage. The story told is that of two young people “taking measure of each other’s intimate speace, trying to decifer each word, each gesture to understand whether there will be a relationship or whether it will just be a meeting like many others.” Though initially hesitant to admit it, Ponzi says he crowned this piece as his favorite.

“The First Time” embodies the spirit of the entire collection: “The goal of the exhibition is to tell the story of a relationship between two people…the emotions you feel while living in a relationship,” said Ponzi.

In another piece, “Circular Path,” Ponzi tells a much bleaker story. The overwhelmingly gray painting shows a dejected young man holding a bouquet of pink flowers close to the wet asphalt as rain pools around his feet and a few petals float to the ground. The woman in the background appears to be walking away from him.

“We continually fall into the same repeated mistakes, our unhealed weaknesses ever present,” states the painting’s description.

“Together” took only 6 months to complete from start to finish. Each individual piece, on average, was created in 3-7 days. The accelerated timeline is part of Ponzi’s process: “I believe in throwing yourself into a project and doing it very intensely in order to be able to keep alive the propulsive energy that moves you at the beginning.”

This propulsive energy, says Ponzi, was at its core very simple: “After all, I’m talking about emotions that we all feel and have felt.”

The exhbition will be open to the public until December 21st.

The post Photoshop and Paintbrushes: Emiliano Ponzi’s New Exhibition is the Best of Both Worlds appeared first on Good Morning Italy.

It’s safe to say New York City’s modern art scene has seen it all. But one Italian artist is on a mission to challenge this notion with his invention of an entirely new medium.

Federico Vezzaro has spent 15 years developing a method to create designs on metal plates using the natural oxidation of surface—resulting in rust. Yesterday, in Brooklyn, he introduced his works to the American market with his first international exhibition: Carminium.

“I started with the most basic elements of this process, so it’s filled with mistakes, failures, and messes,” Vezzaro said. After years of experimenting with samples, which he chose to display at the exhibition for guests to observe, he reached a level of chemical stabilization. Every piece displayed on the walls, he explained, was created in recent months.

Most of Vezzaro’s works are simple. His designs range from rust stains to lines and circles. For Vezzaro, everything revolves around the medium: “I wanted something direct, unmediated, unaltered—something that expresses the force within the material itself, its energy.”

Vezzaro’s favorite piece is a vertical canvas with rust lines that resemble Morse code. When asked if it has a title, he shakes his head: “Titles are limiting.” Instead, he explains, he assigns each work a five-digit code drawn from the Fibonacci sequence. “Since the golden ratio is infinite but tends toward perfection, the more I create, the closer I get to perfection.”

Drawing with rust, however, wasn’t Vezzaro’s initial goal. He began his career as a furniture designer specializing in bio-construction, using sustainable and eco-friendly materials. “His passion for using natural raw materials often led him to develop his own formulations for paints and finishes,” reads Vezzaro’s biography.

This background allowed him to develop his unique rust stabilization technique, enabling him to preserve his designs and prevent natural decay. The process relies on acid use and involves about 30 steps, depending on the desired hue.

“The true identity of the works comes from the acid’s aggression. A true act of violence,” Vezzaro explained about the meaning behind his process.

Vezzaro hopes his exhibition will allow people to see the potential to create something beautiful from something insignificant. “Iron is humble; you wouldn’t even think it has this intrinsic value,” he said.

One thing is certain: no one in New York City’s art scene does what he does. Now that his works are public, Vezzaro hopes to attract the attention he desires:

“Seeing this sedative process, the colors expressed in this raw, violent way, is really fascinating.”

The post Federico Vezzaro, An Italian Artist Spent 15 Years Developing a New Medium. Now, He’s Bringing It to New York’s Art Scene appeared first on Good Morning Italy.

This week, representatives of the University of Naples, Federico II, celebrated the institution’s 800-year anniversary at its New York City satellite center in the presence of American business and educational leaders. The two-day event was part of the institution’s wider effort to strengthen its partnerships with American universities as it seeks to spread its name and research to the world.

Federico II first inaugurated the Italian Academic Center, which is hosted within Cornell Tech’s campus on Roosevelt Island, in 2019. However, the pandemic prevented the center from being fully operational until recently. Prof. Matteo Lorito, Rector of Federico II, took the occasion of the ancient institution’s anniversary to push for stronger collaborations across the US’ East Coast in order to expand the University’s international footprint.

“We believe strongly in this opportunity,” declared Prof. Lorito to the congregation, calling it “very special and a very strategic choice.” Lorito insisted that there’s a lot Federico II can do for Cornell and vice versa.

Cornell Tech Dean Greg Morrisett agreed. “We’re not quite as old as Federico II,” he joked about the school founded in 2007, “but we have a lot in common.”

Founded in 1224, Federico II is Italy’s oldest public university and the only one to offer every field of study within an urban setting. Similarly, Cornell is the sole state-sponsored Ivy League school, and was established by Ezra Cornell with the vision of creating “a university where any student can pursue any field of study.”

Lorito shared insights about Federico II’s most forward-looking initiatives, including its global centers, its programs for migrants and incarcerated people, offering 19 degree programs in English, and the recent nomination of the university’s first female vice-rector.

“I was hugely impressed,” said Prof. Luciano Floridi, Founding Director of the Digital Ethics Center at Yale, of the rector’s presentation. “This is clearly a university that is doing very well to be…of the 21st century,” he added.

When asked about the kind of partnership he wants Yale to cultivate with Federico II, Floridi highlighted two main areas of interest: the free movement of scholars around the world and the mixing of academic fields. “This forced divide between STEM and the humanities…is something that belongs to the past…A partnership like Yale and Federico II could easily contribute to overcoming that obstacle,” he explained.

Mita Marra, a political economy scholar at Federico II, has been at the forefront of the university’s efforts to build a bridge to Cornell Tech and the East Coast. This summer, she launched a Summer School for Italian researchers in NYC in partnership with Cornell and the USA diplomatic mission in Italy. She sees this week’s initiative as a continuation of her efforts: “I’m ecstatic to see Federico II explore a new ecosystem in the USA and interact with the best minds who were invited here,” she remarked.

Like Floridi, she called “cross-contamination between fields” a main goal of this transatlantic partnership and is optimistic that the event will “increase [the university’s] chances of interacting on a global scale.”

Vito Grassi is the President and CEO of Grastim, an Italian energy enterprise. He calls himself a “big supporter” of Federico II, which has long been a main source of interns and qualified employees for his company. He insists that the university’s presence on the US territory will “increase networking opportunities for [Italian] startups.”

For the past 6 years, Grastim has sought to grow within the American energy efficiency market. Federico II’s presence in NYC reassures Grassi that he will be able to count on their support.

Rector Lorito certainly doesn’t plan on leaving anytime soon: “We are here to stay.”

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The New York State Department of Health has approved Mount Sinai Health System’s request to permanently shut down Beth Israel Hospital. However, multiple surviving lawsuits are preventing the setting of a definite closure date as suspicions around Mount Sinai’s official story intensify.           

Mount Sinai Health System, which operates eight hospitals across New York City, acquired Beth Israel, located on East 16^th Street and First Avenue, as part of its merger with Continuum Health Partners in 2013. Prior to the acquisition, Beth Israel was profitable, producing about $30 million in net income yearly for the last two years of independent management according to financial records. The hospital was considered a safety net for many, serving low-income and uninsured patients. But when it merged, the 799-bed center took a loss of $20 million and, since 2014, began a financial freefall, losing around $100 million yearly, according to public tax filings. Mount Sinai formally asked the Department of Health for permission to shut down the hospital last September, citing “insurmountable financial losses.”

In 2016, Mount Sinai announced its intention to downsize Beth Israel. Under its management, the hospital’s operating income fell from $1.3 billion in 2013 to $875 million in 2022 – the last year for which there is available data. By the time the State Health Department approved Beth Israel’s closure this summer, Mount Sinai had already transferred its cardiac surgery, maternity, neonatal care, pediatrics, chemical dependency, and rehabilitation departments to other hospitals in its network, and had decommissioned over 300 beds, representing 40% of the hospital’s capacity.

Dustin Jones is a longtime Beth Israel patient who’s been in care since 2015. This May, he transferred his treatment to NYU Langone Brooklyn due to the uncertainty around BI’s possible closure. “It’s pretty much a self-fulfilling prophecy,” he said.

Jeannine Kiely spent eight years as the director of Citibank’s Healthcare Group. While chairing Manhattan Community Board 2, she analyzed the entirety of Beth Israel’s financial records from the past 20 years.

“I definitely think it’s poor management,” said Kiely, who noted that other hospitals downtown are gaining patients, while Beth Israel has been “losing market share in a growing market.” Kiely added that the financial downfall could have been prevented with different management decisions.

In February, a coalition of organizations sued Mount Sinai Health System claiming that its planned closure of Beth Israel violated public health law.

“They took it over with a promise to the Department of Health that they were going to renovate it and make a state-of-the-art healthcare network. And instead, the minute they walked in the door, they began dismantling,” said Mike Schweinsburg, president of the 504 Democratic Club, one of the organizations involved in the lawsuit.

In a letter to the Department of Health dated October 2023, Elizabeth Sellman, President and CEO of Beth Israel, wrote Mount Sinai had done “everything in its power to support, enhance, and transform MSBI into a modern and thriving hospital.”

“They didn’t change a light bulb,” said Schweinsburg, “They had one intent in mind, and that’s to gut the hospital and sell the land beneath.”

A physician in Mount Sinai’s network, who spoke on the condition of anonymity due to a clause in his contract forbidding unauthorized communication with the press, said that voices are circulating among “a lot of higher-ups” that “the plan all along was never to really do anything with BI, just to sell it, because it is prime real estate.”

Mount Siani intends to use the proceeds “ to pay off some of the purchase of all the other hospitals that they [acquired],” he added.

In its formal closure request to the State Health Department, the hospital network cited a “decreasing inpatient census” as one of the reasons for its necessity to shut down Beth Israel.

“They definitely had enough patients,” said the Mount Sinai physician, “I don’t know where that’s coming from, because, like I said, [the transfers] loaded all the other hospitals.” The doctor explained that he’s working longer hours to manage the influx of former Beth Israel patients, and he’s not the only staff member affected: “Quite a few very experienced senior nurses just left because they didn’t think there was enough support.”

On August 13, a New York State judge dismissed the lawsuit brought by the Community Coalition to Save Beth Israel after the Health Department’s conditional approval of the closure. The case was promptly re-filed, and the next hearing has been scheduled for October 31.

“What is going to be left if they succeed is a healthcare desert down here. 400,000 people will be without healthcare so they can make money on real estate,” said Schweinsburg.

A representative from the state health department declined to comment “on matters that are subject to pending litigation.”

Mount Sinai Health System did not comment despite initial agreement.

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Briana Gordley was a student with no credit history living on an annual income of $15,000 when she first heard about a service called “Afterpay.” She had recently moved to Lexington, Kentucky for college and needed a heavy coat to get through the winter–something she wasn’t used to growing up in Texas. The service split her bill into four installments, allowing her to afford the much-needed jacket: She had no concept of the fact that, two years later, she would be sitting in the US Senate testifying about her experience.

Early this year, major financial publications including Bloomberg reported on the “explosion” of the Buy Now, Pay Later (BNPL) industry, with half of all US consumers having used the service and billions of dollars in “phantom debt” being accumulated yearly.

“Buy Now, Pay Later” refers to financial products that enable users to split up the cost of any item purchased through partner merchants into several interest-free, short-term installments.

In May, The Consumer Financial Protection Bureau passed extensive new regulations requiring the industry to align more closely with the standards followed by credit card providers. The regulations include requirements for BNPL companies to disclose fees upfront, provide periodic statements, and allow users to dispute transactions.

Midtown now has hundreds of retailers that offer BNPL, including Target, Zara, H&M, Adidas, and Sephora.

Now, with the first holiday shopping season since the CFPB’s intervention about to begin, Midtown consumers are set to be exposed to countless opportunities to shop above their means in a brand-new regulatory environment.

“I had no idea what I was getting myself into. I just was excited to use a product that could help me buy things that I wouldn’t be able to afford outright,” said Gordley of the BNPL purchase in 2018, back when the industry was relatively new and unregulated. The excitement led her to use Afterpay, its competitor Klarna, and a few other smaller players simultaneously. “That really is when it started to spiral out of control,” Eventually, she lost track of her purchases, leading her to miss payments and accrue about $300 in late fees – half her rent. She was then referred to a debt collection agency, and had to ask her family to help pay the bill.

Research from Bank of America shows that the majority of Buy Now, Pay Later users are young Millennials and Gen Zers from low-to-middle-income households, like Gordley, mostly Black and Latino, and earning less than $50k per year. The study also found that BNPL “may induce customers to… spend more than they otherwise would have,” – a fact that both Afterpay and Klarna openly boast on the sections of their websites designed for merchants.

Over 70% of BNPL applicants are approved according to the CFBP. “That’s very high…that’s higher than credit cards, ” observed Nadine Chabrier, a policy expert at the Center for Responsible Lending. BNPL users “have increased overdraft fees, increased credit card use – then there’s signs of financial harm and financial distress.”

Despite her experience, Gordley does not outright discourage the use of BNPL platforms: “They can provide a benefit to people… but without effective regulation, they just become another cycle of debt.”

Chabrier said she expects “positive changes among BNPL companies now that they’ve been reminded what their obligations are.” But Martha Perez-Pedemonti, a consumer rights attorney at Public Citizen, says Gordley is precisely the type of consumer that BNPL retailers are trying to attract. “What I really think is happening here is that these products are targeting consumers who might not be able to afford these large ticket items,” she said.

Afterpay, likely the best-known brand in the space, charges merchants a flat fee of $0.30 per transaction plus a portion of each sale ranging from 4-6%. Consumers who miss payments are charged substantially more – late fees can go up to 25% of the order value, with a maximum of $68 per transaction.

 “These companies end up relying on these late payments or these higher APRs to make more of an income,” said Perez-Pedemonti. “I think that they’re extremely aware of the risks …and they hide them in their terms of service.”Charlie Youakim, the CEO of Sezzle Inc. – a public BNPL company currently valued at around 850 million USD, disagreed:  “Quite frankly, I think most consumers now would complain there are too many disclosures.”

The National Retail Federation (NRF) estimates that about 20% of annual retail sales take place during the winter holidays. This season will mark the first holiday shopping spree since the new policies passed by the Consumer Financial Protection Bureau went into effect, with Adobe Analytics projecting $18.5 billion worth of BNPL spending in Q4, an 11.4% increase compared to last year.

Youakim found the new regulations to be largely redundant with regard to his company, but does not oppose them: “Our view is, you know, we’ll just do it. It’s required.”

Today, Briana Gordley is leveraging her experience as a policy analyst working on Texas Appleseed’s fair financial services project, which advocates for “just and equitable solutions to problems that negatively impact the financial well-being of Texans.” Her public advocacy and testimony to the US Senate Banking Committee in 2022 contributed to the CFBP’s actions: “I think people now are…a little bit better off than they were before because of this new regulatory space.”

Representatives for Klarna did not respond to a request for comment.

A representative for Afterpay declined to speak on the record.

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The line to enter the Manchester City pop-up shop at Rockefeller Center stretched back multiple blocks. Fans of the soccer team arrived in flocks, eager to buy merchandise exclusive to the location and add their names above their favorite player’s number at the jersey personalization station.

The scene is far from uncommon. Multiple consumer-product brands have launched successful pop-ups: temporary retail spots that can be set up in brick-and-mortar spaces or custom-built structures. Pop-ups are known to have an experiential element, whether it means offering refreshments, as Van Cleef & Arpels did at Central Park South, or inviting customers to try free product samples, as Valentino did on East 57th Street.

But high-end fashion brands are hardly the only ones embracing the temporary retail trend. With upfront investments far below the cost of opening a permanent store, pop-ups give brands with limited capital access to popular locations and landlords the opportunity to fill vacant retail space. The practice has taken off in Midtown and is credited with helping to reinvigorate a neighborhood hard hit by commercial real estate vacancies.

Anissa Nouhi is the owner of Italian dessert startup Figo Gelato. She opened her first brick-and-mortar store in Little Italy in 2022. Since then, she has expanded to two more locations: one in the West Village and another in Astoria. At first, Midtown wasn’t an option.

“There are many things that block startups from going to Midtown,” said Nouhi. “To start, the price of those spaces is outlandish.”

Rent isn’t the only thing discouraging Nouhi. “The spaces there are so large that you’re either a large business or it’s difficult.”

Midtown spaces typically range from around 1,000 to 5,000 square feet, with many prime locations along Fifth Avenue and the Times Square area reaching up to 20,000 square feet, according to CommercialCafe, a retail listing site.

The use of pop-ups has helped Nouhi escape challenges with rent and square footage. In the two years it’s been in business, Figo Gelato operated pop-ups all over the city, with about 10 concentrated in the Midtown area.

“It brings in a lot of money in just a week.”

While not all her company’s ventures have been successful, Nouhi has no regrets about breaking into the pop-up business. When asked if it’s been worth it, she didn’t hesitate.

“Absolutely, 100%,” she said.

CapitalOne’s recent report on temporary retail shows that the industry will grow by 18% over the coming year to reach $95 billion dollars in 2025. Midtown, with its high foot traffic, is uniquely poised to feel the effects.

The average pop-up shop is open for 3 to 14 days, but depending on business needs, it can operate for a single day or stay open for multiple months to soak up seasonal sales—a common strategy for the popular Christmas-themed pop-ups that appear in Midtown each year. This versatility, combined with the fact that 44% of pop-ups cost less than $5,000 to open, has contributed to the industry’s rise.

Rahil Kapur, a senior real estate expert at FTI, a Midtown-based consulting firm, is not surprised by the success of temporary retail.

“Property owners and managers are increasingly open to short-term leases, recognizing the value of keeping spaces occupied and dynamic,” said Kapur.

The arrangement is necessary for the neighborhood’s recovery. The pandemic was devastating for Midtown’s commercial landlords. By late 2020, one-quarter of retail businesses had closed, and by 2021, the area’s retail vacancy rate was nearing 30%, the worst in New York City, according to The New York State Comptroller. As a result, property owners were forced to drop average rent prices to $700 per square foot, the lowest rate since 2011.

Kapur credits temporary retail with aiding Midtown’s commercial real estate recovery: “Pop-ups are frequently occupying previously vacant spaces,” he said.

Dan Scully is the Vice-President of The Georgetown Company, a real estate developer based on Park Avenue. Like most landlords, he prefers the stability of long-term leases. But he turned to pop-ups for assistance in dealing with long-term vacancies.

“We have had to engage with pop-up retailers in markets where vacancy is more prevalent, typically just to generate revenue in vacant suites until we can find long-term options,” said Scully.

The Cashmere Sale operates pop-up cashmere stores all over the U.S. from October to December each year. This fall, they’re planning to open three pop-ups in Manhattan, including a new location at 7 W. 19th St. Run by a small group of women, the company bases its entire business model on short-term leases to take advantage of “the height of cashmere selling,” also known as “sweater weather,” said Carmela Minervini, the company’s president.

The use of pop-ups enabled them to “successfully test new markets with less liability,” she added.

With 58% of pop-up store owners planning to launch another location, according to data from CapitalOne, temporary retail is likely to continue playing a key role in Midtown’s commercial real estate scene.

Minervini certainly hopes so:

“We have had success and we are opening a third location in New York City this year,” she said.

The post Pop-Up Shops are Changing Midtown’s Retail Playing Field appeared first on Good Morning Italy.

October 7th marks the one-year anniversary of Hamas’ attacks against Israeli civilians in which 1,200 people were killed and hundreds taken hostage.

Members of Columbia University’s community, which drew widespread attention to itself throughout the past year due to the Gaza solidarity encampment and the resulting mass student arrests, commemorated the anniversary amongst conflict between Pro-Israel and Pro-Palestine activists.

The University approved an installation on the southwest lawn set up by the Columbia Jewish & Israeli Community displaying images of those killed and abducted. Sahar Paz, the Vice-President of Students Supporting Israel (SSI) and one of the project’s organizers, said he was “grateful” to Columbia for the opportunity.

Paz, who was wearing a t-shirt stating “F**k Hamas, I Stand With Israel,” said the purpose of the installation was “to commemorate.”

“This was an incredibly difficult and polarizing year. I believe I can speak for many Jews when I say we have felt alone,” said Hana Cohen, a student volunteer working on the installation.

“These stories are close to us; we know these people,” said Danielle Rech, another volunteer, gesturing at a poster of Almog Sarusi, “a friend of a friend,” who was killed in the attacks. Another friend of hers, Omar Shentov (23), was taken hostage.

Columbia University Apartheid Divest (CUAD), the Pro-Palestine student organization responsible for the Gaza encampment, called for a university-wide walkout and protest at 11:45 am.

“Them being out here on October 7th doesn’t show support for Palestine, it shows hatred for the state of Israel,” commented Paz, who highlighted that Israel didn’t officially respond to the attacks “until the following day.”

One Pro-Palestine protester, who insisted on remaining anonymous for fear of retaliation from the University, stated that the initiative was “irrelevant to [her] needing to take a stance against genocide.”

The Instagram account for CUAD instructed protesters to wear masks to be “covered and protected from surveillance” in a recent post. It also advised them to avoid swiping their university IDs upon campus entrance and that they may be able to avoid identifying themselves to public safety officers by walking away – both violations of Columbia’s Rules of Conduct.

“If they were proud of the group they’re representing, they would not be afraid to give their names and show their faces,” said Paz.

We made every effort to engage with Pro-Palestine protestors on the record but was turned down by a minimum of ten individuals.

The post Columbia remembers the October 7th attacks amidst mourning and protests appeared first on Good Morning Italy.