Bruce Levenson was recently in headline news when the sale of his professional basketball team the Atlanta Hawks was finalized. The team had been up for sale for several months now and was partly due to the asking price. It was set at $1 billion and at the time seemed like a very realistic number. Time.com had estimated the value of the team at $425 million in January but seeing the sale of the Clippers and Bucks this changed the market scenery completely.
Bruce Levenson who aquired the team in 2004 was the teams governor and part of the NBA Board of Governors. He came about his wealth through the founding of the United Communications Group, a company centered around the distribution of business information and analysis. part of this data is also the Oil Price Information Service. This business is privately held by Levenson and his long time friend and partner Ed Peskowitz. They started the company together in a basement wit their first published article about the newest developments in the oil industry back in 1977. They then moved on to buying several other newsletters and started their own database.
Another innovative technology launched by the United Communications Group is the Gas Buddy application. This application allows users to search for the lowest gas prices within their current area via the mobile phone or any other hand held device. Thanks to their available database of oil prices they are able to link into the selling price of gasoline throughout the country and provide users with the necessary analysis to make choices.