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...nation's biggest student loan company, Sallie Mae, and polling firm Gallup just released the results of a survey, conducted in May, of 1,400 undergraduates and their parents about how they plan to pay for college this year. One in five parents borrowing money reported either taking out a second mortgage of more than $10,000 or charging some portion of college expenses to a credit card. In a study released earlier this summer, consumer advocate U.S. Public Interest Research Group (PIRG) found roughly a quarter of students reported billing their tuition to a credit card. Such borrowing practices...
...That was the plan, anyway. But on Aug. 14, British Land, the U.K.'s second-biggest property developer, announced that construction of the building - already dubbed "The Cheesegrater", in honor of Rogers's wedge-shaped design - would likely be delayed, pushing completion back a year to 2012. The firm's motive? With the financial services sector trimming costs amid turmoil in the credit markets, both the demand and rental values for City offices are dwindling. British Land - itself hit by a $1.1 billion loss for the three months to July as the value of its portfolio tumbled - reckons...
...point. Net job losses among banking and insurance businesses in the City will hit 10,000 before 2011, according to Experian, the credit services company. Hardly a good time to be marketing empty office space; commercial real estate firm Atisreal says banking and finance firms are currently taking just 110,000 sq ft (10,200 sq m) of City space in a three-month quarter. Throughout 2005 and 2006, the take-up rate averaged more than four times the current level. The flatter demand will drive down rents in the City by 16% this year, Atisreal estimates, and a further...
...market. With more than 7 million sq ft (650,000 sq m) of speculative office space coming online in the City this year and next, according to Atisreal, British Land may not be the only developer to take a time out. Rival Land Securities, Britain's largest property firm, will decide next March whether to go ahead with construction of a planned 509 ft (155-m) tower around the corner from Leadenhall Building; it too was originally planned for completion in 2011. "It seems an increasingly large percentage of that pipeline [of new developments] won't be built...
...Liukin, from Parker, Tex., and Johnson, who grew up in West Des Moines Iowa, claim they have truly become firm friends in the run-up to Beijing and feel no nasty urge to sabotage the other's toothpaste. They finished first and second in every competition they entered together in 2008, usually with Johnson coming out on top. When Johnson's gym was damaged in the floods through the Midwest just weeks before the Olympic trials, Liukin text messaged Johnson offering to help. "She is one of my best friends, and we just want the best for each other," said...