Wentworth By The Sea Country Club. 60 Wentworth Road . Rye, New Hampshire ... Weddings at Wentworth By The Sea Country Club. Voted Best Outdoor Reception ... Wentworth By The Sea Country Club has fulfilled the seaside wedding dreams ... http://www.wentworthbythesea.net Thu, 23 Feb 2012 07:03:19 +0100 FeedCreator 1.7.2 http://www.wentworthbythesea.net/general/big-name-winner-would-be-champion-for-wentworth.html IF IT'S true you can measure the greatness of a course by the quality of its champions then what on earth has been going on at Wentworth this past decade? Cast your gaze down the list of champions from 1991 to 2000 at the BMW PGA Championship and it reads like a who's who of the European game: three wins for Monty, two for Langer, one for Seve, Ollie, Woosie and Costantino Rocca. Now look at the list for the last 10 years. In order: Andy Oldcorn, Anders Hansen, Ignacio Garrido, Scott Drummond, Angel Cabrera, David Howell, Anders Hansen again, Miguel Angel Jimenez, Paul Casey and Simon Khan last year. Sure, there are some quality names in there. But it's a marked difference from the previous decade, isn't it? Yes, a contributory factor was probably that fields are stronger in depth these days but how big a part did the course play in throwing up such a funky list of champions? Had it become outdated? When men who putt as well as Padraig Harrington and Ian Poulter start moaning about the greens, then you know they've probably seen their day. Which is why they were rebuilt. A vast amount of other changes were made as well, which met with a decidedly mixed reaction last year, with many of the flair players feeling their gifts had been harnessed unfairly. Once more the club has reacted, making what chief executive Julian Small describes as 'brave and bold decisions'. so to this week's edition of the European tour's showpiece, where you'll be reading a lot about the quality of the field. About how all four major champions are playing for the first time, and the all-England battle at the top of the world rankings. But what the club really needs is for one of these men to come... articles - General Wed, 21 Dec 2011 23:02:20 +0100 http://www.wentworthbythesea.net/general/carter-wentworth.html The "for sale" sign in the front yard of Carter Wentworth's home in Maine has been there since May, when the graphic designer was laid off. "I'm selling it as a fallback," he says of the house. "I really don't want to lose it." The 57-year-old father lost his job unexpectedly. A manager at his Portsmouth, N.H.-based design company came to him one day and said, "We can't meet payroll." He says he hasn't found a job because, among other reasons, he's older-and overqualified. "There are just very few [want] ads in this region for senior people," he says, though he's open to working anywhere between Boston-where his partner of four years, Jay Bowen, lives--and Portland, Maine. "I don't want to go to a different part of the country, but I may have to. "It's hard for anyone at my level of experience," he continues. "All the jobs are for people with two to five years of experience. The companies I've talked to have been socked with a lot of senior-level people applying for right-out-of-college jobs." The few leads he's had have been for temporary placements, which lack benefits. So he's trying to make himself more marketable by taking classes in Web programming and design--not that it's working. "Even those firms are having huge cutbacks," he says. Complicating matters is that his daughter, Molli, started her freshman year at Tufts University this fall, where yearly tuition is around $37,000. And Molli's mom, who lives nearby in Newburyport, Mass., has been laid off too. Fortunately, their daughter got "a fair amount of scholarship money," Wentworth says. "But for the last $4,000 loan, I had to get my sister to cosign because of my situation. The rest had to go on Discover." Already behind on his mortgage payments, Wentworth thinks he can probably get by for... articles - General Wed, 21 Dec 2011 23:02:20 +0100 http://www.wentworthbythesea.net/general/j.g.-wentworth-and-peachtree-financial-solutions-seal-deal.html J.G. Wentworth and Peachtree Financial Solutions, leaders in the secondary market for illiquid assets, today announced they have completed their transaction and are now owned by a newly formed and privately held holding company, JGWPT. J.G. Wentworth (www.jgwentworth.com ) is a market leader in the purchase of structured settlement payment streams. Peachtree Financial Solutions (www.peachtreefinancial.com ) is a market leader in the purchase of lottery payment streams and special asset funding. Terms of the transaction have not been disclosed. "This is a great opportunity for both companies and their respective customers," says David Miller, CEO of J.G. Wentworth. "It brings together two strong specialty finance companies who will continue to operate independently. It also makes their products accessible to increasing numbers of people." Peachtree's offerings include purchasing lottery and structured settlement payments, annuity purchases, pre-settlement funding and other special asset funding. In addition, Peachtree operates in other categories such as life settlements and other specialty products – areas in which J.G. Wentworth previously had not actively participated. J.G. Wentworth will gain from Peachtree's strength in these categories. "We will now be able to refer business to these Peachtree business units, whereas in the past, J.G. Wentworth sourced them to the general market," adds Miller. Peachtree will benefit from J.G. Wentworth's ability to access capital markets efficiently. While both companies will continue to operate independently, significant synergies will accrue to the combined operation. "While the two companies have developed independently, the complementary product offerings plus the underlying expertise, particularly in technology and capital market access, make this new business model an extremely positive one for all our customers and our investors," says Miller. Peachtree CEO, Jim Terlizzi, will assume a seat on the board of directors. Peachtree will continue to operate out of its existing facilities, including Boynton Beach, Florida. articles - General Wed, 21 Dec 2011 23:02:20 +0100 http://www.wentworthbythesea.net/general/j.g.-wentworth-completes-265-million-securitization.html Specialty finance company J.G. Wentworth has completed a $265 million securitization of payment rights under structured settlement and fixed-annuity purchase contracts. J.G. Wentworth was the first issuer to securitize structured settlement payment streams in the asset-backed markets in 1997. Since then, the company has issued 23 securitizations backed by structured settlement and fixed-annuity receivables totaling nearly $3 billion. The most recently completed $265 million securitization consisted of two issued classes of notes: $226 million of Class A notes rated Aaa by Moody’s Investors Service and AAA by DBRS and $21 million of Class B notes rated Baa2 by Moody’s Investors Service and A (low) by DBRS and a Residual Class of $18 million which was retained by the Company. UBS Investment Bank and Jefferies & Company acted as co-lead arrangers and UBS Investment Bank as sole bookrunner. According to J.G. Wentworth Chief Investment Officer Stefano Sola, “This first securitization in 2011 was the largest-to-date in the structured settlement industry. J.G. Wentworth is committed to creating a liquid market for structured settlement and annuity backed notes through the continued access to the capital markets with benchmark deals. Our established securitization program and continued access to the capital markets underlines our commitment to this growing and diversified investor pool by delivering a consistent flow of product.” Mr. Sola added that the consistent demand from insurance companies and money managers highlights the strength of this asset class within the broader asset backed market. “We structured this transaction with a 25% pre-funding account. The driver behind this decision was the underlying investor appetite and demand for long term access to strong, consistent and predictable cash flows” Mr. Sola said. Since 2010, J.G. Wentworth has sponsored a total of four capital markets securitizations. According to Chief Executive Officer David Miller, “This latest securitization demonstrates continuous... articles - General Wed, 21 Dec 2011 23:02:20 +0100 http://www.wentworthbythesea.net/general/slow-weekend-no-1-wentworth-mansion.html Embracing the slowdown We've moved so fast the past few years that we've forgotten the joys of going slowly. The economy may stink, but hey, it's summer. Take it easy. Savor it. Slowly New money. In certain circles, no two words--except perhaps "Anna Nicole"--induce such horror and contempt. Was Mr. Francis Silas Rodgers, a cotton merchant, considered new money when he built his Charleston, S.C., mansion in 1886? Probably: Old money rarely tries this hard to impress. And impress Wentworth Mansion does, especially after the meticulous renovation necessary to turn it into a 21-room inn. Five stories high and loaded with the kind of architectural details you don't see often in the U.S., at least outside of Newport, R.I., the place gleams. Polished wood, polished tiles, polished Tiffany glass--if you stand still long enough, you risk being the victim of a hit-and-run spit shine. Did it work? Did Mr. Rodgers find acceptance in Charleston society? Impossible to say. But if you were he--wait, for as long as you stay at Wentworth, you are Mr. Rodgers. You have his magnificent mansion and a crackerjack staff. And as to whether Old Charleston considers you worthy of its acquaintance or not, one thing's clear: Frankly, you don't give a damn. articles - General Wed, 21 Dec 2011 23:02:20 +0100 http://www.wentworthbythesea.net/general/wentworth-miller-the-human-stain.html Good looks, good school (Princeton), pretty good Hollywood job (in development). But Wentworth Miller wanted to test himself as an actor. Voila, good luck. He won a starring role in the mini-series Dinotopia. Then he read the script for The Human Stain, from Philip Roth's novel about a professor looking back in regret on having kept the secret of his identity as a black man. Part of the film would show the character 50 years earlier. The story hit "too close to home" for the fair-skinned, mixed-race Miller, who had been accused of racism at Princeton when a satirical cartoon he drew of a Cornel West course was misinterpreted. "But the script spoke to so many relevant issues. I grew up on the outskirts of two different communities. Which one did I belong to? [My character] thinks that he belongs to no community and that he has to answer only to himself. He turns his back on the community that gave him so much. That is betrayal." Miller, 31, says that to play a younger Anthony Hopkins, "I rented all his videos so I could steal pieces of his performances and layer them into mine." His own is quietly virtuosic, revealing the character's intelligence, ambition, brutality and solitude. "This project spoiled me in the best way," he says. And Miller honored it. In a sterling cast, he held his own as a young man learning to live a lie. articles - General Wed, 21 Dec 2011 23:02:20 +0100 http://www.wentworthbythesea.net/general/wentworth-no-fun-now.html HERE we go again. Last year it was Miguel Angel Jimenez who likened the controversial changes at Wentworth to scrawling a line across a Picasso. Listening to Ian Poulter and Paul Casey yesterday, it's as if they've now added a moustache and a funny wig. Said Poulter: 'I don't like this golf course, it is absolutely...' and at that point he bit his tongue, put his arms behind his head and we awaited to see whether the next word was one that could be used in a family newspaper. In the end he didn't finish the sentence but then it was not necessary. We had alighted on the main topic on the second day of the BMW PGA Championship and once again it was the changes to the West Course. 'I used to really enjoy playing this course but now it is just a grind,' said Casey. Added Poulter: 'Is it fun? It's not fun.' Golf courses should be like referees in that they should not be the centre of attention. But ever since Ernie Els put his name to a massive series of changes two years ago, Wentworth has become a bit like the man in black who always barges his way into the news. The problem is a clash between two schools of thought, between people like Poulter and Casey, who grew up watching golf round here, seeing players win tournaments with eagle threes down the last two holes. At the other end you've got the brief Els was given, which was to turn the place into a beast. When the English pair talk nostalgically about what used to go on and how they've taken all the fun away it is impossible not to have some sympathy. But what about Els, who made an eloquent case for change. 'Make no mistake, in two weeks' time... articles - General Wed, 21 Dec 2011 23:02:20 +0100 http://www.wentworthbythesea.net/general/wentworth-on-course-to-be-augusta-of-europe.html TWO years ago, the overriding feeling on the eve of the BMW PGA Championship at Wentworth was embarrassment at the absence of then Open champion Padraig Harrington. All too often, previous such occasions were dominated by recriminations at the absence of leading Americans. What a contrast this time. This year the overwhelming mood is celebratory following a players' awards dinner on Tuesday night that was a stirring reminder of how far the European Tour has come. I was lucky enough to sit next to world No 1 Lee Westwood and his wife Laurae as all four major champions and loyal members of the tour — Graeme McDowell, Martin Kaymer, Louis Oosthuizen and Charl Schwartzel — were presented on stage. 'Who would have thought we'd see this day?' said a proud Laurae. 'It really shows the giant steps forward the tour has made.' Ernie Els believes progress has been so dramatic this event is now bigger than the American equivalent, the Players Championship at Sawgrass. 'It's got a stronger field and is a more classic course,' argued Els, who has a home on the Wentworth estate and was responsible for overseeing changes to the layout. 'I want this to feel like the Augusta of the European Tour and we can do that. We've got the trees, a great layout and we just want to keep making it better.' US Open champion McDowell is another revelling in the feelgood factor. 'You could sense in the room the excitement at what's happening on tour,' he said. 'We had a few tough years as the financial crisis hit everyone but we are in such a strong position now, and the guys are supporting the tour as well. We've seen a lot of the big names (Westwood, Kaymer and Rory McIlroy, to name but three) nail their colours to the mast... articles - General Wed, 21 Dec 2011 23:02:20 +0100 http://www.wentworthbythesea.net/general/wentworth-opens-new-3-million-manufacturing-center.html Wentworth Institute of Technology celebrated today a ribbon-cutting ceremony for a new $3-million Manufacturing Center. The new facility will serve as an applications lab where students will gain hands-on experience working with the technology that is defining modern manufacturing. Students will be prepared to enter into rewarding careers that address the need for skilled engineers and engineering technologists in the manufacturing sector, which comprises approximately 12 percent of the U.S. economy. Working on 20 pieces of equipment, more than 200 engineering and technology students per year will benefit from the latest technological advances in rapid prototyping, computer numerical control (CNC), and computer aided manufacturing (CAM). They will design and manufacture parts for industry, including mechanical components and devices for the biomedical, electronics, automotive, machine tool, and consumer products fields, which represent personal interests and future career pursuits. Students are now able to work on projects remotely and access the Manufacturing Center's equipment to produce final designs and models on one of the Center's rapid prototype printers. Students are afforded the opportunity to be more nimble in their work as the increased functionality of the equipment enables real-time updates for improving the end-product being designed and created. The speed of the output that is generated from the printers also accounts for time, volume, and cost savings–important factors in the manufacturing process. In addition, the knowledge and expertise students gain from using this equipment will directly impact the shortage of manufacturing professionals in the U.S. and further advance the industry in the U.S. "The Manufacturing Center is at the forefront of innovation – it rivals labs at leading companies," said Fred Driscoll, dean of the College of Engineering and Technology. "The skills students will learn by using these machines is part of the undergraduate engineering and engineering technology experience, representing a shift in the workforce... articles - General Wed, 21 Dec 2011 23:02:20 +0100 http://www.wentworthbythesea.net/general/wentworths-pocket-of-gold.html The finance company rules the business of helping people cash out annuities and legal settlements. Now an IPO could be on the horizon Over the last 14 years, privately held J.G. Wentworth has mined a profitable but largely overlooked niche of the vast finance market. The company, based in Bryn Mawr, Pa., allows people who are receiving fixed payments tied to legal settlements and annuities to exchange some or all of their long-term revenue for a lump sum of cash. While the market is worth several hundred million dollars a year in revenue, it's too small to attract the attention of major banks and finance companies. That has allowed Wentworth to build up a lead in both markets, according to CEO Michael Goodman. Wentworth is hoping to capitalize on its success by going public, people close to the company say. No decision has been made, but Goodman confirms the possibility of an IPO. "We are certainly exploring that avenue," Goodman says. Goodman, 44, met the founding partners in the early 1990s when they helped him sell his tech startup, which was called Corporate Technology Devices. Goodman joined Wentworth in 1994. An IPO could be a boon for private-equity player JLL Partners. The New York investment firm, led by founder and managing director Paul Levy, acquired 70% of Wentworth just one year ago for about $170 million. Management owns the remaining 30%. Private-equity firms have been fueling the IPO market as they look for profitable exits for their investments [see BusinessWeek.com, 5/25/06, "IPOs' Comeback: Solid, Not Splashy"]. ROOM TO GROW. The company's value has increased over the last year, according to Goodman. He said Wentworth was valued at $240 million when the JLL deal was done last year. Several investment banks have analyzed Wentworth. An IPO could generate several times that value, people familiar with the matter say.... articles - General Wed, 21 Dec 2011 23:02:20 +0100