Episode 301: 01-29-15
Model Year End Deals on Cars
Larry Zinn, general manager of Warren Henry Infiniti, Jaguar, and Fisker, talks to Jim Fried about the model year end deals and the new Land Rover Discovery Sport, plus a little Heat basketball and Marlins baseball.
Miami Condos – Buy New or Resale?
Michael Sadov, sales director at Terrazas Miami, is a highly successful real estate broker with more than 10 years of experience selling high-end, high-profile condo projects in South Florida.
Neil Fairman, President and Founder of The Plaza Group, has successfully foreseen opportunities that result in world-class real estate developments. From hotels and high-rise, luxury residences to retail shopping centers and commercial space, his successful projects include Marina Palms in Aventura, The Palms in Fort Lauderdale and Ocean Palms in Hollywood Beach.
We discuss the benefits of buying existing condo units versus to-be-built units.
Dolphins Cycling Challenge – Ride to Help Cure Cancer
Goldschmidt is Senior Vice President for Medical Affairs and Dean of the University of Miami Leonard M. Miller School of Medicine. He also serves as Chief Executive Officer of the University of Miami Health System (UHealth), which includes three hospitals and more than two dozen outpatient facilities in Miami-Dade, Broward, Palm Beach, Monroe and Collier counties, with more than 1,200 physicians and 8,000 staff.
The Dolphins Cycling Challenge (DCC) has become one of his philanthropic focuses. We will discuss the DCC, his involvement in the DCC event and what he sees on the horizon for UHealth.
Also joining us from UHealth is Dr. Michael Samuels, one of Sylvester’s radiation oncologists. Dr. Samuels is an expert in treating cancers of the head/neck, lung, brain and melanoma. He is also a 4-time DCC rider.
Launched in 2010, the Dolphins Cycling Challenge is a two-day tri-county charity cycling event. The purpose of the DCC is to increase cancer awareness, encourage healthy hobbies, and raise funds for the University of Miami Sylvester Comprehensive Cancer Center. Since its inception in 2010, the DCC has donated millions to Sylvester Comprehensive Cancer Center.
We discuss how you can get involved with the ride – and why you should.
Episode 301: 01-29-15 (To download, right-click and select “Save Link As”.)
Jim Fried: Alright. Wanda has given me the sign and that means we are on the air with another episode of Fried on Business turning the corner now with episode 301 on our way to 400. Now we’ve got our new time at 6:00 so welcome. Now we are going to talk today with Larry Zinn. We are going to talk about model year end deals on cars, is that an urban legend or a fact? We are also going to talk about the 2015 Land Rover Discovery Sport and how you can’t get a Land Rover. One of the guys on later in the show is already complaining to me about he can’t get a Land Rover and that they are marking them up. So, Larry be ready. You might get jumped in the first segment. Then we are going to talk with Michael Sadov and with Neil Fairman. We are going to talk about the condo market here in South Florida. It’s going to be great. One sells condos that are existing and one sells pre-sells. We’ll talk about the benefits of each and then the second half will be all UHealth, all cancer, all ride DCC. We are going to talk about the Dolphins Cycling Challenge with Dr. Michael Samuels and also with Dean Pascal Goldschmidt. He’s the Senior Vice President of Medical Affairs and the Dean at the University of Miami’s Miller School of Medicine. We’ll be right back after this short message. We’ve got a great show. Don’t go anywhere.[Commercial break]
Jim Fried: Wanda has handled off to Darren. I am on the radio. We’ve got our segment here with Larry Zinn Darren, do we have Larry on the line? Alright, hey Larry how you doing man?
Larry Zinn: Hey Jim, how’s it going?
Jim Fried: Oh it’s going great. I’m counting down the days to opening day. The Marlins signed Ichiro Suzuki, and I got my favorite auto dealer sitting next to me on opening day, so I’m doing pretty good. How you doing?
Larry Zinn: I’m pretty pumped. I think the Marlins have a pretty squad for this season. Everything I read is we are going to have the best outfield in the majors.
Jim Fried: Well I kind of agree with them. If you’ve seen those guys, you probably would to Ozuna has the arm and the bat. You’ve got the reigning golden glove in left field, and we don’t have to talk about G. I mean we saw what he did with Miss Universe but let’s start with cars. Now Larry, we were going to talk a little bit today about the fact that the end of the model year really isn’t an urban legend and that there really are deals out there on the 2014 model year stuff. Is that an urban legend or is that really true, here we are the end of January.
Larry Zinn: No that’s the real deal. I mean if there are any 2014 sitting around anywhere that’s the deal to get right now. I know I’ve got a few Infiniti convertibles leftover that are an absolute steal at the moment.
Jim Fried: Wow, wow, wow, Infiniti convertible?
Larry Zinn: Yeah.
Jim Fried: Okay, I know where I’m going on Saturday.
Larry Zinn: Infiniti convertible is a hot car. I’ve got a couple 2014 left and I would love to put them on the road.
Jim Fried: Well Larry you know I used to have the M30 convertible. I thought that that was the car God would have if he reinvented himself here on earth. It’s just the best car in the world. That was my first Infiniti.
Larry Zinn: That was the original.
Jim Fried: And so am I and so are you Larry. So listening lets talk about the Land Rover Discovery Sport new for this year right?
Larry Zinn: Yeah, we are expecting that vehicle to arrive in April. It’s going to be a total segment buster. The first car in it’s class to have a third row actually.
Jim Fried: You know I was reading the write ups on it and it seemed like the guy was ready to write it off as just a mom car, and he came away with a completely different image.
Larry Zinn: Oh absolutely. I read today that they took it through…There was some serious ice and snow and like in the article that you’re mentioning.
Jim Fried: It is it’s the same article I think Larry.
Larry Zinn: The writer looked at the car and said oh no this can’t do anything and it literally did everything it’s grandfather did, the avenger did.
Jim Fried: Yeah, just because you have a family doesn’t mean you can’t have an avenger. That’s what the article starts out with. Now Larry this stuff is hard to get, are you taking orders on this already?
Larry Zinn: Oh absolutely, absolutely but you know with the Discovery Sport we expect them to have availability and not nearly as backed up as it has been. So when that car comes out hopefully it will be readily available for people to come and take delivery but if you are concerned you are more than welcome to come in put a deposit down and reserve yours.
Jim Fried: Listen I got to get Neil over to meet with you because he’s complaining about how he can’t get his hands on a Land Rover or a Range Rover when he wants it. Can you make Neil live for a second there? Neil talk to Larry, you know. How are you?
Larry Zinn: You know all he’s got to do is call me or call me directly I’ll be happy to take care of you. If I don’t have it I’ll be more than happy to order it for you.
Neil:Well they told me it would take six months so I’ll just have to take my wife somewhere else but next time I’m phoning you.
Larry Zinn: Well that is a reality but, you know, next time around you want to come by order it exactly the way you want it I’d be happy to do that for you.
Neil:That’s I appreciate it.
Jim Fried: Now Larry, Neil is the developer at Marina Palms so you can sell him a nice one here.
Larry Zinn: Oh absolutely. I’d love to have that parked out front.
Jim Fried: Oh well soon you’ll be neighbors hopefully there you know? Larry is hopefully going to be moving his dealership soon. Larry did I just spill the beans on something?
Larry Zinn: Yeah but we’re okay Jim. We’re okay don’t worry about that.
Jim Fried: I’m like sweating bullets here you know. I sign these confidentialities and then sometimes I forget. Anyway Larry lets talk a little bit more about what you’ve got coming here with Land Rover Discovery Sport. I was reading the article. It seems awesome. It seems like it was ready to crash through the ice but this thing has a smoking engine.
Larry Zinn: You know it’s very similar in power to what the Evoque has, which is a turbo four cylinder. Also it has big horsepower and even better it has big gas mileage for an SUV, so that’s something that I think everybody finds to be important now. I’m going to drive the car in March and I can’t wait to report back to you after I’m finished with it.
Jim Fried: Now we were starting to talk a little bit about baseball season. Baseball season starts in April, so can people get deals from you before April or do they have to wait for baseball season?
Larry Zinn: No they can come in anytime and get a deal. They don’t have to wait for baseball season for that.
Jim Fried: Now I want to talk about…Well I really have a question to ask you. Is Voshon Leonard still your favorite number one from the Miami Heat?
Larry Zinn: You know I got a new number 21 that’s really pushing it for me.
Jim Fried: It looked to me when he through the ball down there on a dunk I was all thrilled about that.
Larry Zinn: Oh absolutely. You know I was at the game the other night which unfortunately was lost. In the first half he was coming out a little bit soft, he wasn’t taking it down with authority to the basket. Second half he came out strong. It’s unfortunate we lost late and couldn’t put the game together. I’ve got high hopes for this guy. I think he really could develop into something special. He’s certainly got the right mentors in Alanzo Mourning and Juwan Howard, you know, offensively, defensively those are two great mentors for him.
Jim Fried: Now Larry we’ve only got a couple of minutes left and I’m wondering if you’ve got other specials that you’d like to tell, you know, whether it be in 2015. Do you have any specials on any of your 2015s?
Larry Zinn: Oh absolutely. You can check out the website at www.warrenhenryauto.com. We always have our monthly specials listed there and we’ve got some really great stuff going on throughout all the brands right now.
Jim Fried: What about Warren Henry and the community. Where are you going to be in the next couple of weeks?
Larry Zinn: Lets see in the next couple of weeks, I’ve got to figure out what events we’ve got going on. It’s been a bit more quiet month for us this month.
Jim Fried: Well that’s because you’re getting poised for the big breakout that you’re going to have next month, that’s all. March will be a big month at Warren Henry I would imagine. You’ve got some good stuff coming up in March.
Larry Zinn: Oh absolutely, every year.
Jim Fried: Tell me.
Larry Zinn: Unfortunately Jim I usually don’t know until the 1st.
Jim Fried: Well this is Peter’s fault, you know, Peter needs to be hitting us up and telling us exactly what’s going on with Warren Henry in the field or…You know we’ve got to get Floyd on here one day to really go to town and tell us what we’re doing here in the community.
Larry Zinn: I’m sure both of those guys would love to, you know, nobody likes to talk more than Peter.
Jim Fried: Yeah but if I get him with Floyd he’s going to have a little competition.
Larry Zinn: That’s true.
Jim Fried: Well what about service? Do you have any good service specials coming up?
Larry Zinn: You know once again we’ve got that all listed on the website. We do have Sunday hours now, which is a really big deal. So, we are open seven days a week at our Land Rover, Jaguar, and Infiniti locations.
Jim Fried: Oh that’s awesome. Well I know that makes life easier for me because you know I’m working that day down on Saturdays in the office, although the rabbi is not too thrilled about that. I’ve got to pay the bills and, you know, get myself another Infiniti soon here. Now Larry we’ve only got a minute left if people want to get a hold of you? If they want to go to your website, your website, you know, how do they get a hold of you, Ismet, Frank, the whole team down there?
Larry Zinn: Well you can always reach us at 305-690-6006 or follow us on social media on all the major sites at @warrenhenryauto. That’s on Instagram, Linkedin, Twitter, Facebook, you name it.
Jim Fried: Now Larry first of all I want to thank you for finally getting on Linkedin, great picture of you on Linkedin, great avatar. Over or under Marlins wins this season or are you going to wait until April for me?
Larry Zinn: I’m going to wait until April, Jim. You know this is a big step for me going back and getting back in the games there.
Jim Fried: Listen I know and I’m glad you’re going to set foot in the ball park for the first time with me. I’m really excited. I’m glad we’re going to be doing that together, the first time since the last couple years. I know you’ve been in there before but I’m looking forward to going in opening day. We’re going to have a great time and you know everybody that goes with me to a game, they catch a foul ball. You do know that Larry?
Larry Zinn: I did not know that but I hope I catch a foul ball and catch a win.
Jim Fried: There you go. We’re going to have a great time. Larry, thanks so much for being on the show and sharing your thoughts on the new Land Rover Discovery Sport and the other stuff that you’ve got going on, looking forward to seeing you soon, Larry.
Larry Zinn: Hey thanks Jim talk to you soon. Send my best to Vivian.
Jim Fried: I sure will. Thanks our friend Larry Zinn talking cars, talking sports. We will be right back and we’ll be talking Miami’s favorite topic, condos. Back after this.[Commercial break]
Jim Fried: Alright we are back and we’ve got a segment that I’ve been waiting a long to do. We’re going to talk about the condo market with two pros. We’ve got Michael Sadov. He’s the director of Terrazas Miami. He’s been a successful real estate broker here with more than 10 years of experience, selling high end, high profile, super luxury condo projects in South Florida. We also have our old friend Neil Fairman, President and founder of the Plaza Group, successfully foreseeing opportunities here that resulted in world class real estate developments, including Marina Palms in Aventura. Guys welcome to the show.
Sadov/Fairman: Thanks. Thanks Jim for having us.
Jim Fried: It’s radio you’ve got to talk into the microphone. The people can’t see you wave. Now Michael lets talk a little bit about existing condos. You know we touted this as existing condos versus to be built condos but I’ve got to believe you’ve got different buyers for different types of condos, no?
Michael Sadov: Absolutely, absolutely. You know there is an advantage to buying an existing condo and there’s an advantage to buying a pre-construction. The advantages are you can touch and feel and see what you are buying. You can move in immediately. We have a beautiful property on the Miami River which is called Terrazas Miami and you know there’s advantages to both.
Jim Fried: Yeah you’ve got a beautiful location there, and I’ve got to tell you is the views from downtown have to be spectacular.
Michael Sadov: We could watch the Marlin games right from the rooftop.
Jim Fried: You are inviting me over to the Marlins things. Now Neil I can see the cranes, the thing is enormous. I can see it now from my place on the horizon. You are down the intercoastal from me, so the advantages of buying new?
Neil Fairman: Well first of all I want to say we’re topped off as of today. We’ve topped off our first building and we’re starting our second one this month.
Jim Fried: Awesome!
Michael Sadov: Congratulations!
Neil Fairman: And what I’d like to say is the condo market is segmented. There is presale and there’s pre-construction sales. Pre-construction sales are always the best deal because the developer wants to be able to have enough sales to go to his bank and get it financed. So, when you see a pre-construction deal, that’s the best possible pricing you can get. There’s pricing for existing units also where someone has bought these units in bulk. They’ve paid the right price for them and you can get a great deal on those also like the ones Michael is selling at Terrazas. We had a little bit of both. We bought the Marina Palms property at the right price during the downturn and we’re in pre-construction and we can offer fantastic deals on luxury property. And, all the finishes are luxury, Italian cabinets, subzero refrigerators, all the top end products at a price that’s about half that you are on the ocean in Sunny Isles yet you’re still on the water in a condominium that has a marina in it.
Jim Fried: And a boat slip no?
Neil Fairman: You can buy a boat slip also, and Jim for you anybody who comes in this weekend and mentions your name we’ll give them a boat club membership. We were…
Jim Fried: Thank you. Thank you turn off the radio and get over there now.
Neil Fairman: Well we were running out of boat slips, obviously we have 112 boat slips and over 400 condominiums so we decided to develop a boat club so that anybody who lives in the complex can take out a 24 to 36 foot boat, they belong to the boat club and you know they can really live on the water. So, welcome.
Jim Fried: Listen now Michael you’re group buys the units for rental units what do you do from there?
Michael Sadov: Well what we do is, we have multiple types of buyers. Buyers who want to move into the property or somebody who wants to purchase something with a tenant in place and have income. So, we position the asset for different types of buyers. We are getting to see both. We are getting to see 50% of our buyers who are occupying the residences and 50% of the buyers are buying strictly for investment. They are buying below replacement cost. If we were to give this piece of land to Neil today and say Neil please replicate it, they could never build it and sell it for the prices that we are selling today.
Jim Fried: And that’s because costs have gone up. I know Neil is very good at value engineering.
Neil Fairman: Well I can say this, as good as we are, we started our first building about 14 months ago. We just contracted with Coastal Construction on our second building. It’s costing us 20% more to build our second building after 14 months.
Jim Fried: So 20% in 14 months, people were saying it’s about a point and a half a month, that’s about right.
Neil Fairman: It is right.
Jim Fried: I’m not good with math. Those are the CCIMs that did the math.
Neil Fairman: And the market is just going to keep going up in price because costs are going up both land costs and construction costs. There’s about 20,000 units that are proposed but only 12,000 are in construction. Of the 12,000, 9,000 are already sold with 50% deposits. So these are definitely real deals with 50% deposits so there’s only 3,000 units that are under construction that are not sold and we use 5,000 units a year in Dade County.
Jim Fried: So people need to hurry before the supple is gone and prices go up. I had economics in school and what I heard in economics was that as the price goes up fewer and fewer people can afford it so perhaps the demand goes down. Now that’s I think in a closed system but I don’t think your condo market operates in a closed system, Michael?
Michael Sadov: Well I think it’s even more than that Jim. It’s more of the Miami market. Miami has become a cosmopolitan city. It’s so dynamic and you know when one market closes the other markets open. I’m seeing people from Turkey, from Saudi Arabia, from China. We just did some deals with Chinese, you know, people are talking. Chinese are coming, Chinese are coming. This is the first time I’m actually seeing them coming and buying. You know our market is very dynamic and it’s going to continue to grow. I think you are going to see more and more steady growth. Miami is still young. It’s spectacular. You are going to see tremendous growth and it’s going to keep going.
Jim Fried: So it sounds to me like there is value in your deals, Neil?
Neil Fairman: There’s definitely value. You will not be able to buy a condo at the price that it is priced today. Once we go into the ground on the second building, see you’ve got about 15 days to get there and then prices are going to be going up between 7-10% at the very, very least. Let me say something about Miami. Knight Frank did a survey of the most important high net worth cities in the world, Miami ranked seventh and Miami ranked second after New York in North America for a high net worth individuals wanting to move here.
Jim Fried: Well I think that that is wrong because it should have classified Miami as a borough of New York.
Neil Fairman: The sixth borough. (laughing)
Jim Fried: Well Michael you know we’ve talked about that but I’ve got to believe that Miami and Dade County always fueled itself on the Northeast I-95, have you seen Boston and New York come back?
Michael Sadov: I’m seeing…I mean I sold Canyon Ranch for Lehman Brothers and I’d say 85% of my buyers were from New York, it was from New York, New Jersey, Connecticut, it was strictly the Northeast.
Jim Fried: Neil what are you seeing on your new construction and on your presales, what are you seeing on your project there?
Neil Fairman: We’re seeing quite a few Brazilians but we’re seeing the North Americans coming back into the market strong now. The Brazilians are the predominant buying group. It seems like they are still very, very strong but in addition to them we are seeing the Northeast buyers back with a vengeance.
Jim Fried: Now your second tower, is that going to have the same deposit scheme and I mean that only in the profile of having 50% deposit. I got to think smaller ones are more appealing to the Americans.
Neil Fairman: Well we set ourselves up a little differently. We have 20% deposits upon contract and 20% deposit once construction has commenced and we are only asking for 40%. We did that because we knew that we would be attracting the North American buyer. And, we set ourselves up two or three years ago waiting for the North American buyer to show up and they are here.
Jim Fried: Now Michael I was saying that the big deposit will be a problem for North Americans, what do you see?
Michael Sadov: No, it’s definitely not a problem. I’m seeing the North Americans. Our real estate is so much cheaper than the Northeast when you compare us to Manhattan and we are being compared to Manhattan right now. Money has never been an issue for them. In addition to that I’ve sold multiple multiple residences where Northeasterns combine the residences and go from 2000 to 4000 or from 3000 to 6000 square feet and they have no problem spending 6, 7, 10 million dollars.
Jim Fried: Do you know what I call that? A sky palace. Now Neil you are selling and building a bunch of sky palaces over there, what is the top of the building look like over there? We’ve only got about two minutes left D, two minutes. I need a little bit from you on your building and a little bit and then we are going to talk about how to get you both. Okay now talk.
Neil Fairman: Well we have some 4500 square foot penthouses in our first tower that we put on the market a little while ago. We are not marketing our second tower’s penthouses right now but the first tower is being marketed and they’ll be available for occupancy in late summer this year. So, they are a rarity. The whole building is sold out except for these few penthouses and we’ve saved the best for last. And, they are on the market right now.
Jim Fried: Is that what I was seeing on Million Dollar Broker Miami or something?
Neil Fairman: Million Dollar Listing, you’re absolutely right.
Jim Fried: Okay, okay. You’re a star, you’re a TV star. Okay Michael one quick second and we’re going to tell people how to get buying information.
Michael Sadov: Terrazas Miami on the Miami River starting from the low 200s. You will never be able to see real estate like this again. If you are interested, please come by our sales office. We are right on site in the lobby.
Jim Fried: Awesome! Neil, how do I buy at Marina Palms?
Neil Fairman: 172nd and Biscayne, right on the water, www.marinapalms.com.
Jim Fried: Alright wow this is great, we’ve got to have you guys back. A little personality finally entered the room here. I love you guys. We’ll be right back after this short break. We’re going to talk to the UHealth docs about why you need to ride in the Ride DCC coming up in early February. We’ll be right back after this. D it’s yours.[Commercial break]
Jim Fried: Alright we are back. We were doing a little inter radio station how you doing business here and hopefully the radio mike wasn’t on while I was doing that secret business with my prior guest. We’ve got Dr. Michael Samuels, not to be confused with the developer of Midtown. He’s one of Sylvester’s radiation oncologists. Dr. Samuels is an expert in treating cancers of the head and neck, lung, brain, and melanoma. Dr. Samuels is also a four time DCC rider. Dr. Samuels welcome to the show.
Michael Samuels: Thanks very much Jim. I’m very excited to be on with you tonight.
Jim Fried: You are because you don’t know me yet. Listen you’ve been on…I know you talk about cancer. What are some of the new things that you’ve got going on in your discipline there of, you know, lung or brain cancer? Melanoma shoot that’s a big deal down here.
Michael Samuels: Yeah, you know, we’re working on all of those areas. My interest really have to do mainly with cancers of the mouth and throat. We’re still especially interested in the current epidemic of virally caused cancers in the throat caused by human papilloma virus. So, most of my research is working on the genetics of that disease and what makes it different from other kinds of mouth and throat cancers.
Jim Fried: Well that’s really interesting. You know I’m a baseball fan, you may have heard that earlier and we lost recently, the guy that played for the San Diego Padres and I won’t remember it until we go off the air, but the reality is that a lot of kids chew. We saw Jim Kelly come down here. I mean this is a big problem. I know you’ve got a position on this. I want to give you the platform.
Michael Samuels: Yeah, no that’s a real…
Jim Fried: Tony Gwynn, sorry.
Michael Samuels: Sure. It’s a really important thing to tell the listeners which is that some cancers can’t be prevented but a lot of mouth and throat cancers can be and the use of tobacco, whether we’re talking about smoking tobacco or chewing tobacco are entirely preventable reasons to get this disease. This is really a very disabling disease in which the treatment is difficult and if we can prevent people from getting it, that’s way better than having to treat them.
Jim Fried: Well lets talk about some good stuff now. A number of years ago they started the DCC ride. You’ve been now a four time participant and I hope soon a five time participant. Tell me a little bit about the experience so we can get a couple people listening that may be on the fence involved.
Michael Samuels: Absolutely. The DCC is really a fantastic event. It started five years ago, so this is going to be our fifth DCC. We have a financial target of 5 million dollars to raise. We have a big cancer center, the only academic cancer center in South Florida and the only University based cancer center with about 300 scientists and physicians. And, this is one of the things that we can do to really bring the cancer center up to the very top international level. We need to support it as a community. The DCC is a big event. The Dolphins are a fabulous partner. We have so far 2,650 riders signed up.
Jim Fried: Wow!
Michael Samuels: We’ve already raised 2.9 million dollars and it’s going up very fast. And, it involves people riding as little as 14 miles to as much as 176 miles, which is the real diehards like me that’s what we are going to do on February 7th and 8th, Saturday and Sunday.
Jim Fried: Well I hope you stay hydrated appropriately doctor.
Michael Samuels: Well they do a great job taking care of the riders. We have regular stops. We’ve got the Dolphins cheerleaders there. We’ve got people giving us massages. We’ve got lots of food and drink and just a tremendous amount of camaraderie, not just from the people who work at Sylvester but the entire community that comes out to support us, both to ride and to be there to help us out.
Jim Fried: Well, can you help me out? What are the places to go to get more information on ride DCC?
Michael Samuels: Well the way to sign up to to go just like you said, www.ridedcc.com. It’s a great website. It has all the information you need. It is not too late to sign up, you know we are still recruiting riders and if people aren’t bike riders, and they are not interested in doing that, there is a run/walk that’s another option and that’s as little as a 5K. So pretty much everybody in the community can be part of this.
Jim Fried: You know it’s something that’s really important. I know that these types of events go on all over the country from I believe its, they’ve got them in, gosh I know they got them in..
Michael Samuels: Boston has the most prominent one and there’s a great one in Columbus, Ohio too and we’re trying to become you know just as strong as those great events.
Jim Fried: Thank God you have your notes in front of you doctor because I just blew that one. Now we’re on a great trajectory for this year. People can still get involved and they don’t have to ride. They can sponsor, they can volunteer right?
Michael Samuels: Yes, they can even be a virtual rider. If they don’t even want to do the 5K walk you can literally just be a virtual rider. Explain to your friends how important it is to support top notch cancer therapy in Miami and get them to support you and you can literally do it from your living room, but we’d sure like to see you out there. It’s a fantastic event.
Jim Fried: Now in the time that you’ve been doing the DCC ride for lets say the last four or five years, can you give me an example of one of the breakthroughs in cancer that we’ve had happen here down in South Florida?
Michael Samuels: Absolutely. Well number one I want to emphasize the DCC sends 100% of its funds to the Sylvester Cancer Center. There’s no administrative overhead here. It’s all going to support cancer treatment and cancer research. There are a lot of examples. Right now we’re working on a system so that when a patient’s tumor is removed we can actually grow the tumor cells, test them in an automated fashion against 100 different anti-cancer drugs and pick the drugs that will be most likely to work to effectively treat that cancer. That’s a system that is completely unique to the University of Miami and it’s being supported by DCC funds.
Jim Fried: Wow, you know, so that means people don’t have to randomly try things that may not work and eviscerate their body. They know they can do a target now?
Michael Samuels: Well, that’s exactly the principle. Now this is something that’s in development.
Jim Fried: Okay.
Michael Samuels: So I’m not going to tell you that it is ready for use for every patient yet but it is the kind of technology that monies from the DCC support. We have another program where we have an oncolytic virus, which is kind of a fancy way of saying a virus that can attack cancer cells, and it can be used to treat patients with cancers of the mouth and throat in a way that’s very different and potentially more effective and less toxic than tradition chemotherapies. Again, supported by DCC and I could go on and on but these projects are very innovative and yet they require a lot of resources and that’s where the DCC comes in.
Jim Fried: And we’re just getting started with the DCC aren’t we? I mean we’ve got Tom Garfunkel is the Chairman next year from the Dolphins so it kicks back over to the Dolphins next year?
Michael Samuels: Yeah, yep and the Dolphins as I say have been a great partner. We really need their organizational staff, the enthusiasm that they bring, and the way that they can just bring the community in on Sylvester’s behalf. The Dolphins are critical to this effort.
Jim Fried: Well we’ve got two of South Florida’s biggest brands in the Dolphins and Sylvester teaming up to beat cancer. You can go to www.ridedcc.com to get involved in a whole bunch of different ways. Dr. Samuels we’ve only got about a minute or so left. If we could go through maybe one more example of the things that you guys are working on right now that people can get behind and put their money to work to help cure cancer.
Michael Samuels: Well I can do this all night but we have one of my colleagues in my department who is working on a project that helps us to understand how cancer cells circulate around the body in certain kinds of cancers where that was not suspected before. And it’s teaching us how these cancers spread and giving us clues about which patients need to be treated with drugs and which patients don’t. These are new biologic insights that you just don’t get without advanced technology and without support from events like this.
Jim Fried: Now the students at UHealth work with you from the Leonard Miller School of Medicine over there?
Michael Samuels: Absolutely. All of us are academic doctors and we all have research projects ongoing. So we try to involve both trainees or residents and absolutely have medical students as part of it and that gets them involved and builds their enthusiasm for academic medicine. That’s what we want to produce is the cancer leaders of the future.
Jim Fried: Wow! Well it’s great to have the cancer leader of today on the show. We really do appreciate it. You know you are warming everybody up. We’ve got Dr. Goldschmidt coming up after you. So I want to thank you so much for clearing the way for the big hitters coming up next.
Michael Samuels: Thank you. Thank you so much for having me.
Jim Fried: It’s my pleasure Dr. Samuels. Thank you for doing all the great work you do and from all the people that will never say thank you for your work, I want to thank you right here and now.
Michael Samuels: Appreciate it. Thank you.
Jim Fried: We’ll be right back after this. You’ve heard me tout it. We’ve got Dean Pascal Goldschmidt. He’s the Senior VP for Medical Affairs, Dean of the University of Miami Leonard M. Miller School of Medicine. He’s also the Chief Executive Officer of UHealth. We’ll be back after this with the Dean talking about why YOU need to ride in the Dolphins Cycling Challenge. Back after this.[Commercial break]
Jim Fried: Hey we’re back with Dr. Pascal Goldschmidt. Dr. Goldschmidt you know you’re backing every year around the Dolphins Cycling Challenge to fight cancer so we are going to talk today about ride DCC. Welcome to the show.
Pascal Goldschmidt: Thank you very much Jim. It’s a pleasure to be back.
Jim Fried: Oh it’s my pleasure. I’d like to make this an annual event where you come in and talk about the Dolphin Cycle Challenge. Now I’ve already sponsored you and a whole bunch of other folks but tell us a little bit about what the challenge means to the cancer center at Sylvester.
Pascal Goldschmidt: So listen first of all let me thank you for your incredibly generous gift. It is so important to advance research of cancer. We are partnering, as you know, with the Dolphins to go bicycling all around the region from the stadium to Miami to Sylvester Comprehensive Cancer Center which is the Cancer Center for the University of Miami and then all the way to Palm Beach and then to West Palm Beach where we rest overnight. That is 100 miles.
Jim Fried: Wow!
Pascal Goldschmidt: Then the next day Jim we take a second ride and we go back to the stadium through a number of very nice locations of South Florida and then we end up going through the stadium. It’s a great opportunity to get off the bikes and rejoice.
Jim Fried: Wow! Well I bet after 200 miles it feels great to get off the bike. Now this is all happening February 7th and 8th right?
Pascal Goldschmidt: Exactly.
Jim Fried: Now where exactly can people go to sign up and get some information for this?
Pascal Goldschmidt: So we have a very good site. You just have to remember Dolphins Cycling Challenge and that’s where they would choose one of the multiple sites that you can access the race. You will see there there’s a very nice…If you Google it there’s a very nice invitation to participate and you can enroll, you can support. There are all kinds of ways you can participate and it’s really a great, great site.
Jim Fried: So, if somebody can’t ride physically or they just want to volunteer, is there a way to just volunteer too?
Pascal Goldschmidt: That’s exactly right. If you go to, for example, www.ridedcc.com, that’s going to take you directly to all the possibilities. If you don’t like to exercise, which of course I don’t recommend, you can actually enroll in events that you do through your computer. So there are all kinds of possibilities. There is also a run, an event for kids, you know there are shorter rides. It is really extremely well organized by the Dolphins and it’s a lot of fun. It’s great camaraderie. It’s for a very important cause which is the fight against cancer and the Sylvester Comprehensive Cancer Center is the academic cancer center in South Florida. And, it is the only cancer center in South Florida that is fully backed by an entire university and medical school.
Jim Fried: Doc how did you team up with the Dolphins? How did you get teamed up with the Dolphins?
Pascal Goldschmidt: Well it’s very special way for the Dolphins to remember Jim Mandish who if you remember a wonderful player of the Dolphins.
Jim Fried: Oh yeah.
Pascal Goldschmidt: Was one of the, you know, invincible team and his friends when he passed away after a long fight against cancer, his friends created the event and reached out to us. We kept him alive for a very long time. They reached out to us and asked us if we could have this event to remember Jim. His son Michael is very involved in the event and it’s a very special thing for all people in South Florida.
Jim Fried: Well I wanted to congratulate you because I’m on the website right now and it looks to me like they’ve raised almost 7 million dollars since the first ride, and I believe there are over 2 million dollars for this ride and have certainly over 2500 riders participating so it seems like Mr. Mandish has a wonderful legacy. Doctor, maybe you could go over just a couple of the new treatments and breakthroughs that you’ve got at the cancer center that we are going to be backing and supporting.
Pascal Goldschmidt: So you know there are many things that are going on in the field of cancer. The 21st century will be about developing treatments that are very specific for each form of cancer. I will give you an example. When I was a medical student there was a cancer named promyelocytic leukemia. It was the worst form of leukemia and it was basically killing 95% of people where affected five years post diagnosis and now we have a treatment that’s very unusual that requires a low dose of arsenic, which as you know can be dangerous but at a dose that he used it’s only dangerous for cancer cells. And, the result is that at five years post diagnosis 95% of patients are cured.
Jim Fried: Wow! Well listen doctor we only have about 30 seconds left in this segment. Can you tell us where people can go to donate and learn more about the ride DCC and maybe help out Sylvester at the same time?
Pascal Goldschmidt: www.ridedcc.com and you click on donation.
Jim Fried: Well boy somebody sure made that easy. You left me with an extra 30 seconds there doctor, so I really want to thank you for working with us. You know you and the university have been sponsoring our show now for a couple of years, we can’t thank you enough for helping us bring cutting edge technology and your consultative approach to getting people well. It’s just really terrific to be involved with you and the entire team at UHealth.
Pascal Goldschmidt: And you’re incredibly generous gift will save many lives, Jim, so thank you for what you do and God bless you and your family. I can promise you that your gift and all the gifts that come to the DCC go to research, very advanced research. Again, the dreadful cancers that are killing are friends and family members and it will make a huge difference in the lives of our fellow humans.
Jim Fried: Well thank you so much doc. Now that you’ve given me that high level of motivation, I’ve got to go back to the office and make sure all the guys are signed up. Thanks so much Dr. Pascal Goldschmidt, Dean of the University of Miami Miller School of Medicine. We call it UHealth on our show. Thanks again doc.
Pascal Goldschmidt: Go Jim, thank you now.
Jim Fried: Alright go get them. We’ll be right back after this short break with more Fried on Business. Alright we’re back. We’ve got the break done. I want to thank our sponsors, of course our newest sponsor KIND snacks, South Florida Business and Wealth Magazine and the CCIMs. I want to thank UHealth. You just had UHealth Drs. Samuels as well as Dean Pascal Goldschmidt talking about the Dolphins Cycling Challenge, it’s coming up here in the next couple of weeks. You got to get out. You got to get active. You got to go to www.ridedcc.com or I got there on Twitter actually, it’s @ridedcc but get there, go there. It’s a great event, both socially and for the things that they are doing in our community. The University of Miami Miller School of Medicine and the Dolphins have teamed up to put this together to help us stamp out cancer. You heard Dr. Samuels earlier in the show talking about a number of the treatments they are working on, where this money will go towards making those treatments more effective, bringing them to trial, etc. I don’t know all their official words but you get the picture. We’ve got to donate money and raise money so we can wipe out cancer in our lifetime. There have been amazing discoveries. You heard them going over it on the spots. It’s just great. So again, I want to thank our sponsors today. I want to thank KIND Foods/KIND Snacks. We’ll be doing some events around town so look out for that. South Florida Business and Wealth Magazine, saw Kevin and the gang today at the Marcus and Millchap event over North Miami. I want to thank the CCIM for sponsoring and bringing their calculators and their unique perspective on commercial real estate to our program. If you need somebody sharp to do a real estate deal, go CCIMs, they are sharp folks and they know the business. UHealth we talked about them. I want to thank of course Terek Maddox. I want to thank Warren Henry Automotive. You heard Larry busting the mint that there are no values, there are values left at the end of the season. The NFL alumni, the Miami Dolphins, Social Media 305, the Miami Marlins, Lauren’s Kids of course, The Aztec Group, the Bergstrom Center for Real Estate Studies, UHealth again, and thank you to our listeners because without you I wouldn’t have a show. Go to our Facebook page like the show, tell your friends, join our community, give us feedback and comments. Tell us who you want to hear from. Tweet me at @jimfried, tweet the show @friedonbusiness, Linkedin, YouTube, the websites. If you missed today’s show it will be on the website. Remember this is not a rehearsal this is your life so go out there and make it happen.