Investor relations: Northport man driving force in China
One of China's key investor relations guys in the United States is a Northport man with a passion for schoolyard basketball.
Ken Donenfeld, president of Manhattan-based DGI Investor Relations Inc., represents about a dozen Chinese companies in the United States, and European countries as well. For the past few years one of Donenfeld's fastest-growing clients has been China Auto Logistics Inc. of Tianjin, which buys BMWs, Audis and other luxury cars here and imports them to dealers in China.
China Auto went from sales of about zero a decade ago to about $190 million now. China Auto is now listed on the Nasdaq stock exchange. The company imports about 2,500 to 2,800 cars a year. Many consumers in China, which now has one of the world's most robust economies, like to show off their newfound wealth, and they crave the luxury models, Donenfeld said. He also represents a Chinese plastics company and another that is producing an electric car called the Coco. He prepares and writes materials for the companies.
Donenfeld acknowledges his job is not run-of-the-mill. He loves basketball but admits he doesn't have much time for hoops these days.
"The ongoing question with my family and friends is, What do I do? " he said. "It's not a one-word answer, like accountant."
Donenfeld said China's explosive growth "is already the story of the century. They're going to be a force to be reckoned with for years to come."
Snow totals may be less across the South Shore A winter storm is expected to pummel LI as artic air settles in across the region. NewsdayTV meteorologist Geoff Bansen has the forecast.
