Word: assets
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...estate mogul. But when the government asked him to move out of his central Shanghai home so that the land it was on could be sold for redevelopment, he took the compensation payment and bought an apartment on Shanghai's outskirts. Eight years later, after cleverly parlaying that first asset, the cabbie owns three apartments in the city and has his eyes on something bigger: a lovely five-bedroom, riverfront suburban house, owned but never occupied by a coal magnate from Shanxi province. "How much does he want for it?" he asked a local real estate agent in late February...
...tricky one to size up. The efficient reallocation of capital is key to any economy but especially to one like the U.S.'s, which counts on dynamism as a competitive advantage. Lending to businesses is down; that much is true. But is that because banks are overly cautious and asset-impaired or because businesses are uncertain about the future - or just aren't creditworthy borrowers? A recent survey by the National Federation of Independent Business found that companies that couldn't borrow typically had declining sales or depressed real estate values. Simply opening the lending spigot doesn't seem...
...critics like Sokolov are an endangered species. Their habitat - big-ticket, fine-dining restaurants - shrinks every year, encroached upon by gourmet hamburger joints, taco stands and various other chic, no-frills eateries. Their food supply - the expense accounts of large newspapers and magazines - has withered. And their most invaluable asset - their towering authority - has been leached away by blogs and review websites, leaving them without a place in the new ecosystem. All of which is too bad, because critics like Sokolov ought to be at the very center of it. (See pictures of what the world eats...
...city's streets, as he did last year, Calderón is pushing social and financial reform - including the kind of judicial modernization that tends to spook drug lords more than soldiers do. Last week, for example, the legislature in Chihuahua state (which includes Juárez) passed an asset-seizure law, similar to U.S. RICO statutes, that if enforced could seriously drain the cartels of the cash and property that lets them buy their guns and launder their profits. (See pictures of the fence between the U.S. and Mexico...
Ecclestone, a former driver and team owner, began to exert control over F1 in the late 1970s, when he got a lock on the sale of the sport's TV rights, its most valuable asset. In 2005 he sold most of his stake in Formula One Management to private equity firm CVC Capital Partners. But thanks to a complicated ownership structure, he's still the straw that stirs the drink. Ecclestone alone makes the big TV, sponsorship and track deals that keep F1's cash gushing. He rests his legacy on the numbers, and they are indeed impressive, not least...