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The scheme seemed a bit convoluted from the start, but it offered oodles of money to the participants. An American investor agreed to lease tram and subway cars from BVG, Berlin's mass-transit company. And BVG, in turn, leased them back for terms ranging from 12 to 30 years...
Between 1997 and 2004, Berlin's public transportation company entered into 22 such lease and lease-back deals, covering a total of 511 tram cars and 647 subway cars, with various American investors.
Heag Mobilo, a public-transportation company in Darmstadt, financed its purchases of new street cars through a similar arrangement. The city of Stuttgart leased and rented back its drinking-water system. Bottrop, a city in the Ruhr industrial region, financed a sewage-treatment plant in the same fashion, and Ulm...
With job losses in the U.S. hitting record numbers, retailers are trying to entice jittery consumers to spend by offering to let them return everything from plane tickets to cars should they get laid off down the road. Now Walgreens' in-store clinics are promising free health care this year...
That discomfort is exactly what the agencies count on. The idea of using costumed collectors dates back to the 1980s, when a company, the Cobrador del Frac (or Tuxedo Collector), began sending out agents dressed in black ties and driving cars emblazoned with the company logo. Others followed suit, in...