Word: condominium
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...Federal Savings and Loan Insurance Corporation, which currently holds most of the repossessed property and will be combined with the FDIC under the Bush plan, has seldom shown a talent for getting top dollar. In Guerneville, Calif., a small town north of San Francisco, the FSLIC took over a condominium project with more than 20 units two years ago. The original owners had been trying to sell the units a few years earlier for an average of $140,000 each, though market conditions suggested that a price of $75,000 was more appropriate. When the FSLIC took over, it sold...
Some legal authorities have already called for prosecution according to the letter of the law. If North, Bush and Wright are guilty, these wimps argue they should be sent to jail. Never mind that "jail" would probably be some cushy condominium near a golf course where the "criminals" could write their memoirs and make millions. Never mind that J. Danforth Quayle would wind up president of the United States...
Other matters before the committee were more clear cut. The panel voted unanimously that there was reason to believe Wright failed to report as gifts the use of a car and Fort Worth condominium he and his wife received from Mallick. Committee members voted 10-2 that Mrs Wright's $18,000-a-year salary from a Mallick-Wright company should also be characterized as a gift, saying she did little or nothing to earn the money...
Gardner says he arranged for the purchase at an inflated price of a vacation condominium that Paisley owned in Sun Valley, Idaho. Prosecutors say the payment -- about $149,000 for a condo later sold for $100,000 -- constituted a bribe. The money came from a secret $5 million fund that Gardner set up with Unisys money and devoted to bribery and illegal campaign contributions, as well as his personal use. He allegedly replenished the fund by charging the military for consulting work that was never performed -- which would mean that the Pentagon unknowingly supplied the money to corrupt...
Proposition 2 exempts your own home from rent control, if you rent it out after you buy it. Rent control will continue to apply, just as before, to large buildings and landlords. But after you owner-occupy your single-family home or condominium for two years, you will be exempted from restrictions. This may actually increase the supply of rental housing, because owners who now sometimes keep their house vacant (rather than risk tying up their own home with complicated regulations) will now be able to rent without fear...