Word: commerciales
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Dates: during 2000-2009
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As would be expected with any large commercial real estate enterprise, General Growth is highly leveraged and was probably able to get mortgages with ease at the height of the real estate boom.
According to The Wall Street Journal, "The bankruptcy will have far-reaching implications for the mall industry, including putting pressure on already declining property values of U.S. malls, and subsequently mall mortgages." Put another way, the commercial property business is about to be hit by a domino effect. Prices drop...
Malls are only the tip of the commercial real estate iceberg. Large office buildings in the nation's biggest cities are experiencing growing vacancy rates and a raft of tenants who are behind on their rent payments, or worse, have defaulted. Replacing the tenants is difficult without dropping rents significantly...
You'd think one hooker scandal would be enough to ruin the ShamWow (and its pitchman) forever, but you'd be wrong. Even the Roman Catholic Diocese of Brooklyn is trying to cash in on the ubiquity of the super-absorbent towel infomercial with a YouTube parody designed to lure...
Americans long ago came to the rational conclusion that we can trade with communist China and still criticize its rights record. But communist Cuba keeps us in a trance of irrational contradictions. That is, perhaps, until now. As Barack Obama packs for the Summit of the Americas this week in...