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...battle for financing deals with Dubai World, a number of people who signed up for condominiums are looking to bail. So MGM Mirage, which owns the most properties on Las Vegas Boulevard - the Strip - ducked and weaved around bankruptcy for six months earlier this year by pumping $140 million, almost a quarter of its monthly revenues, into the project. MGM sold off Treasure Island at a bargain price: Phil Ruffin, the buyer, paid the equivalent of $225,000 for each room on the property; CityCenter's rooms cost about $1.5 million each to build. Even if CityCenter...
Tons of people were doing this, but there were consequences. Renters were being evicted, through no fault of theirs, with a couple of days' notice when the house finally went on the market. People are now paying a premium to live in apartment buildings, which in Vegas are almost always owned by a corporation. Sure, short selling damages the sellers' credit rating, but they just bought a new house, so they don't care...
That's helping to drive costs through the roof. I had no idea when they wheeled me into the CT salon to detect my kidney stone that I was getting not one but two CAT scans performed - abdominal and pelvic - at almost $3,500 a pop. I've since learned from medical experts that one would have sufficed. And even if my insurance provider did end up paying closer to $2,000 for each scan, that's still well above the less than $1,500 average CT screening cost...
...over the region a year ago. Since then, South Ossetia has declared its independence, but Georgia refuses to recognize the breakaway republic. Amid fears that the region is perched on the edge of another war, the once-porous border between the two is now heavily guarded and almost impossible to cross. (See pictures of the war in Georgia...
...While piracy has become a common scourge off the coast of Somalia, an attack in a region blanketed with "sophisticated surveillance and extensive navies and coast guards is almost unheard of," says Douglas Burnett, a maritime partner at the U.S. international law firm of Squire, Sanders & Dempsey. It is all the more suspicious given the relatively low value of the listed cargo on board. "The cargo on the ship is timber," he says. "No one would steal a ship for timber, especially in European waters. So perhaps the lumber could be a cargo cover. Was it drugs? Was it nuclear...