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...Just ask English club West Ham United. Asset-management company CB Holding took over the East London club earlier this week, after its Icelandic owner and chairman Bjorgolfur Gudmundsson lost his trousers in the credit crunch. Iceland's Straumur Bank, CB Holding's major shareholder, is itself in the midst of restructuring after being bailed out by the Icelandic government in March. In Spain, once mighty Valencia is effectively controlled these days by local lender Bancaja, its major creditor, after hapless management and a soured stadium-development plan left the club about $725 million in debt. (See pictures...
...largest indoor mall in the U.S. - has become the opposite of a bedroom community. Some 120,000 people work in Tysons, but only 17,000 live here. "Every morning, 110,000 cars arrive, and they all leave at 5," says Clark Tyler, a former federal transportation official and the chairman of a task force whose ambitious goal is to help transform Tysons into a full-fledged city - where people live and work and play 24 hours a day. (See pictures of Americans in their homes...
...February, Cambridge Systematics, a transportation consulting firm in Massachusetts, released a traffic study based on the land-use plan and concluded that despite the mass-transit options, the proposed influx of residents, plus an expected 100,000 new jobs, will result in more congestion. "Maybe," responds task-force chairman Tyler. "But it will have a lot less traffic than if Tysons keeps developing...
...Ticketmaster chairman Barry Diller ultimately apologized and blamed computer glitches for the ticketing mishap. But industry heavyweights snickered. "That stuff has gone on all the time. When he said it was a computer glitch - ha-ha - I nearly fell off my chair," said Randy Phillips, CEO of AEG Live, the country's second largest concert promoter. "I could not believe it. I mean, these are sophisticated businessmen - my God, a computer glitch?" Not surprisingly, Phillips opposes the merger and has even suggested he may cancel his seven-year contract with Ticketmaster if the deal goes through...
...across Virginia and that's exactly what we need in a governor. The mayors of Hampton Roads and Richmond and Petersburg and here, of course, in Alexandria, all across northern Virginia, are supporting me because they know I know their issues," he said. Moran, a former prosecutor, was chairman of the legislature's Democratic caucus until he left office in December. He is also the brother of Representative Jim Moran, who represents Virginia's 8th District in the U.S. House of Representatives. (See 10 elections that changed America...