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...think it is a problem ... and that's why we are putting our resources to bear to try to correct the problem before it becomes a bigger problem than we can tackle," says Rafael Cestero, commissioner of New York's Department of Housing Preservation and Development. "Ownership of rental properties in New York City is a long-term proposition, and if you do it right, you can make a fair profit, but trying to make a short-term investment is where you can get yourself in trouble...

Author: /time Magazine | Title: Should Private Equity Invest in Residential Real Estate? | 1/20/2010 | See Source »

...conceived investment to turn the twinned 11,000-unit middle-class housing complex known as Stuyvesant Town and Peter Cooper Village, built originally to accommodate World War II veterans, into luxury housing, for which limits on yearly rent increases are chucked in favor or whatever the market will bear. The prospectus offered by the lead investors, Tishman Speyer and Larry Fink's asset-management fund 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...

Author: /time Magazine | Title: Should Private Equity Invest in Residential Real Estate? | 1/20/2010 | See Source »

...local officials to figure out the provision of services for their communities. And militarily speaking, it is a lot easier to tackle the guy who is planting IEDs than the one who is spreading false rumors. Yet in the long run, it is the more difficult tasks that will bear the most results. Flynn, Pottinger and Batchelor compare the war to a political campaign, albeit a violent one: "If an election campaign spent all of its effort attacking the opposition and none figuring out which districts were undecided, which were most worthy of competing for, and what specific messages were...

Author: /time Magazine | Title: Afghanistan: Limits of 'Winning Hearts and Minds' | 1/19/2010 | See Source »

...Nevertheless, Western studios' ongoing efforts to make successful Indian films in Bollywood have yet to bear fruit. Sony's $9 million love story Saawariya fell off the radar after a short run in late 2007. Last January, analysts dismissed Warner's $9 million kung-fu comedy Chandni Chowk to China as Bollywood's most expensive flop ever, and the 2008 Disney animation flick Roadside Romeo, co-produced with a major Indian studio, only mustered a three-week run. Despite their high production values, all three films were short on content, say analysts...

Author: /time Magazine | Title: Hollywood Meets Bollywood: Finally, a Love Story? | 1/15/2010 | See Source »

...modern power elites thrive by forgetting any regrettable past. This amnesia is easy at Harvard, where the legal fiduciaries operate in secret and need not answer for their acts. They are the antipodes of the selfless institutional servants who built Harvard and other great American enterprises, and they bear close watching...

Author: By Bonnie J. Kavoussi, CRIMSON STAFF WRITER | Title: Professor Challenges Harvard's Governance Structure in the Huff Post | 1/13/2010 | See Source »

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