Word: fortress
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...truly be hypocritical: if Edwards spoke out on behalf of the disadvantaged while pushing policies that benefit the rich. This he does not do. He favors boosting the capital-gains tax rate for families earning over $250,000 and closing the loophole that allows fund managers-like those at Fortress Investment Group, where he earned almost $500,000 in 2006-to get taxed at just 15%. "He wants to take money away from the people who paid him," says deputy campaign manager Jonathan Prince. "That's not hypocrisy. That's sincerity...
...More serious was the news that Edwards, who launched his candidacy in New Orleans and has denounced predatory lenders' foreclosing on people there, has some $16 million invested with Fortress-and Fortress has stakes in subprime lenders that are foreclosing on people in New Orleans. Edwards told me that when the story broke in May, he sought assurances from Fortress that it wasn't engaging in predatory practices and asked the company to intercede on behalf of a New Orleans mortgagor facing foreclosure. "They said, We'll do that, I said O.K., and then I forgot about it," he said...
...Designed like a sandbag fortress rising over a garden of inert land mines, armored vehicles and the occasional palm tree, the museum contains a display of Hizballah weapons and tactics, including the scale recreation of a front-line bunker, complete with computer workstation, prayer rug and dish rack. Throw in a lava lamp and it could be a college dorm room...
...Tiananmen Square in 1989. But to young Chinese like Maria and Vicky, the Tiananmen protests are less a source of inspiration than an admonishment. Were popular uprisings like Tiananmen allowed to continue, Vicky believes, they would have provoked a counterreaction by conservative forces and led to a return to fortress China: no more iPods, overseas shopping trips or snowboarding weekends. "I think that the students meant well," says Vicky, who was 11 at the time and has only vague memories of what happened. But the crackdown that ended the demonstrations "certainly was needed...
That's one reason some private-equity players are going public, such as Blackstone Group and Fortress Investment Group. Others are resorting to deal jumping--busting in on another firm's deal with a higher bid, as Filmore Capital Partners did to Formation Capital in the Genesis Healthcare takeout. "There has never been a buyout market that has been this frothy," says Thomas Roberts, partner at Weil, Gotshal & Manges, a leading mergers and acquisitions (M&A) law firm. "[The cycle] looks like...