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...that ended in 2007. Many private equity players and hedge funds used heavy leverage - borrowing up to 80% of the purchase price - to acquire the properties and are now struggling to generate the cash flow needed to service the debt and meet debt calls. Bach estimates that about $500 billion in commercial real estate debt will come due each year for the next few years...
...rocket is uncertain. A report delivered to the White House on Oct. 22 from the Human Space Flights Plan Committee said the Constellation program's goals were underfunded. The committee, headed by Norman Augustine, retired chairman and CEO of Lockheed Martin Corp., concluded that NASA needs another $3 billion a year to pursue meaningful human space exploration beyond low Earth orbit. Facing a $1.4 trillion federal deficit, even NASA's most ardent supporters in Congress, who represent some of the 60,000 jobs associated with the agency, acknowledge that additional funding will be hard to come...
...unclear whether Libya will cooperate with any further inquiries. In 2003, the country formally accepted responsibility for the Lockerbie bombing, paying $2.7 billion in compensation to the relatives of those who died. Since then, however, Libyan officials have denied culpability and suggested that the payout was made as part of its recent efforts to normalize relations with the West. The Daily Telegraph reported Monday that British detectives had made at least three trips to Libya to interview witnesses and potential suspects but that they had recently been blocked from returning to conclude their investigation. Also Monday, in an interview with...
...homeowner and found it staggering that just the mortgage-interest and property-tax deductions amount to $96 billion per year. The elimination of those two deductions alone would virtually pay for health-care reform. I recall the fear expressed when the removal of interest deductions for auto loans and credit cards was first discussed. The bottom did not fall out of those sectors. Nor will it fall out of the housing market...
Nabel is currently director of the $3 billion National Heart, Lung, and Blood Institute at the National Institutes of Health...