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Bach expects the jobless rate to top the 10% mark, office rents to plunge another 5% to 10% and vacancies in commercial real estate to exceed 20% by the middle of 2010 - surpassing the 18% vacancy peak hit during the early 1990s crisis. The doom-and-gloom scenario will likely lead to higher default rates on commercial property loans held by banks and those pooled into mortgage-backed securities...

Author: /time Magazine | Title: New REITs Pounce on Distressed Mortgage Assets | 8/18/2009 | See Source »

...Though hampered by the government's near monopoly of the media, the Aquino campaign attracted millions of fervent supporters, all decked out in yellow, the reluctant candidate's favorite color. And when Marcos cheated her of victory in the February 1986 vote, the outcry was tremendous - and his doom was sealed. Bearing witness to their political allegiance, the millions who crammed the streets to protect reformist soldiers who had mutinied against Marcos chanted the now familiar mantra: "Cory, Cory, Cory." Nuns armed only with rosaries knelt in front of tanks, stopping them in their tracks. (Read "People Power's Philippine...

Author: /time Magazine | Title: A Miracle Worker in a Plain Yellow Dress | 8/17/2009 | See Source »

...Alas, uplifting news is rare in the vulture world: the big picture is that the birds, commonly portrayed as harbingers of death, are themselves facing doom, particularly in the eastern hemisphere. Three species in South and Southeast Asia were placed on the International Union for Conservation of Nature's critically endangered list 10 years ago - to little effect. The oriental white-backed vulture population has declined a catastrophic 99.9% in the past 15 years; once estimated at 40 million, the global number now sits below 11,000. The long-billed and the slender-billed vulture populations have also fallen nearly...

Author: /time Magazine | Title: A Restaurant for Vultures. Literally | 8/15/2009 | See Source »

...policies is an open secret in the Sunshine State, and his son has endorsed Rubio. Crist will still have a huge advantage in money and name recognition, but when choosing between a Republican and a Republican, Republicans usually pick the Republican. It's the same phenomenon that could doom party-switching Senator Arlen Specter in the Pennsylvania Democratic primary; partisans don't often reward bipartisanship. "Crist has focused on the Arlen Specter wing of the Republican Party," says Palm Beach County GOP chairman Sid Dinerstein. "Rubio could be the future of a real Republican Party...

Author: /time Magazine | Title: GOP at War with Itself in Florida Senate Race | 8/12/2009 | See Source »

Though hampered by the government's near monopoly of the media, the Aquino campaign attracted millions of fervent supporters, all decked out in yellow, the reluctant candidate's favorite color. And when Marcos cheated her of victory in the February 1986 vote, the outcry was tremendous - and his doom was sealed. Bearing witness to their political allegiance, the millions who crammed the streets to protect reformist soldiers who had mutinied against Marcos chanted the now familiar mantra: "Cory, Cory, Cory." Nuns armed only with rosaries knelt in front of tanks, stopping them in their tracks...

Author: /time Magazine | Title: People Power's Philippine Saint: Corazon Aquino | 8/1/2009 | See Source »

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