Word: consortiums
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...last year. The massacre in Beslan in September, in which over 300 children and adults died after pro-Chechen rebels seized a school in North Ossetia, "underlined the failure of the Kremlin's Chechnya operations," she says. The final destruction of Yukos in December, when Baikal Finance Group, a consortium linked to the state-owned Russian oil company Rosneft, bought its main oil producing unit, Yuganskneftegaz, for a knockdown price, "demonstrated the state's unwillingness to guarantee private property." And Yushchenko's victory in Ukraine showed that Russia wanted to pursue "an imperialist foreign policy but couldn't even achieve...
...author of last week's speech. "That's nuts," retorts Christine Loh, CEO of Civic Exchange, a progressive local think tank. "It just shows how out of touch they are.") Now, activist groups have found other causes to rally around. Last month, two major property-related plans-a private consortium's desire to demolish a never-used, seven-building public housing estate, and the Housing Authority's attempt to sell shares in the largest ever real estate investment trust-were suspended (at least temporarily) after public opposition and, in the latter case, a legal challenge. Public ire is currently being...
...inevitably, the controversy involves money. The government plans to award the entire project-which could cost up to $6.8 billion-to a single consortium, which would build and then run the cultural facilities for 30 years. Three development groups-including a partnership of Li Ka-shing's Cheung Kong Holdings and Sun Hung Kai Properties, the city's largest developer-were shortlisted, and last month, their proposals were unveiled at an exhibit replete with detailed models and video simulators. So far, more than 60,000 people have gone to take a look. "At the end of the day, it comes...
...What most riles the public is that the same consortium will get a giant windfall by being allowed to build and sell retail, commercial and residential units on the site. That smacks of cozy dealings between the government and the tycoons-which Tung admitted in his speech was a cause of public concern, insisting: "We are resolutely against collusion between business and the government, and will strictly enforce our monitoring systems to eliminate any transfer of benefits." Earlier this month, the legislature voted 34-3 for a non-binding resolution against the West Kowloon plan. "Invariably, people see this...
...special-education and support programs for young mothers usually cut off at age 18, and most kids in foster care get kicked out at 18 with virtually no safety net. "Age limits are like the time limits for welfare recipients," says Frank Furstenberg, a sociologist who heads a research consortium called the MacArthur Network on Transitions to Adulthood. "They're pushing people off the rolls, but they're not necessarily able to transition into supportive services or connections to other systems." And programs for the poor aren't the only ones that need to grow up with the times. Only...