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...BlackRock, imagined evicting 50% of rent-regulated tenants in just a few years. But tenants fought back and won in a court decision that also undercut plans for using city tax abatements to further sweeten returns on apartments pushed into luxury decontrol. The upshot, according to a recent Deutsche Bank analysis, is that the property, purchased in late 2006 for $5.4 billion, "would fetch less than $2 billion if sold into the current dislocated market." It added that the most natural buyer was MetLife, the insurer and original owner, in part because it represented "patient capital...
...will receive an investment of about 300 billion yen ($3.3 billion) from the ETIC, which the flailing airline approached in October, in addition to hundreds of billions of yen in debt waivers from its main lenders. In addition, the ETIC and the state-backed Development Bank of Japan will extend JAL a credit line of more than $3.5 billion. Key measures of the restructuring plan include cutting more than 15,000 jobs, or about 30% of its workforce, by the end of 2013, paring down to about half of its 110 group firms, and slashing unprofitable international and domestic routes...
...will mean improved chances of retrieving more of their lost money. "It helps because it means he can testify in civil trials now, and he's said he wants to help make things right," says Scherer. He has filed suit on behalf of victims against Rothstein and Toronto Dominion Bank, which handled the accounts Rothstein used to conduct the alleged Ponzi scheme. (TD Bank insists it exercised proper oversight of the accounts...
...insurgents launched their attack around 9:30 a.m., targeting several different locations in the center of the city in swift succession - a bank, two shopping centers, a luxury hotel and government buildings, including Karzai's palace, where several members of the cabinet were being sworn in. According to a Taliban spokesman who spoke to the Associated Press, 20 armed militants carried out the attack, including two suicide bombers who blew themselves up near the palace and in a traffic circle a half mile away. One explosives-laden vehicle was suspected to have been stolen from the government, which would have...
...frequented by foreign diplomats and ordinary civilians alike. Authorities said several insurgents stormed the Ferushgah shopping center and ordered people to get out before firing shots from the roof and then setting the building ablaze. Other militants reportedly struck a movie theater, a hotel popular with Westerners, the central bank, the Gul Bahar shopping center and the Justice Ministry. According to a Taliban spokesman who spoke to the Associated Press, 20 armed militants carried out the attack, including two suicide bombers who blew themselves up near the palace and in a traffic circle a half mile away. The streets quickly...