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Industrial properties are just one segment of the commercial market - the others being offices, retail sites, apartment buildings and hotels. But the problems Bonney showed me apply across the board. First, commercial mortgages are about to hit a refinancing wall. Deutsche Bank's Parkus estimates that more than 65% of the loans that have been packaged into commercial mortgage backed securities won't qualify for refinancing when they come due. Second, banks are already facing painful choices about what to do with short-term land and construction loans that will never be paid off in full. Finally, the vulture investors...
...loss sends Harvard back to the drawing board, where the team will have to patch up the same hole that cost it in last year’s games against the Big Green—rebounding...
...tragedy will wake the state up before it becomes a tropical Illinois. Sensing the growing outrage, Crist last month won approval to empower a special statewide grand jury focused on public corruption. Fort Lauderdale has been especially hard-hit recently by major scandals involving figures from sheriffs to school-board members. "I love Fort Lauderdale," Scherer says. "It's the biggest small town in America. But it's still got to learn that all that glitters is not gold." And that wannabes who glitter are often big trouble...
...European supermarkets, the tribunal ruled last October that the wine maker, Lacheteau, could not market it under that name in Australia because consumers would wrongly believe it was made in New Zealand. The ruling was hailed by the New Zealand Winegrowers Association, which had brought the complaint to the board. But the indignation of the Kiwis has lessened in recent days after a New Zealand blogger highlighted the apparently little-publicized fact that the cuvée is actually made for Lacheteau by a New Zealand wine maker, Rhyan Wardman. "Kiwi label is nothing to wine about," the New Zealand...
...Weston’s governing Board of Selectmen—the executive branch of the town’s government—will not agree to purchase any land in which contaminants remain, according to VanderClock...