Word: fortress
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...Since then they have fallen below their IPO price, while public shares in Fortress Investment Group, a firm that specializes in hedge funds, are down 28% since the close of trading on their February 9 debut. Granted, that's a short-term, backward-looking view?never the best way to size up a potential investment. Yet as other shops like Kohlberg Kravis Roberts, Carlyle Group, Apollo Group, and British hedge fund manager GLG Partners toy with listing public shares, it's worth taking a critical look at the broader, ongoing forces impacting these stocks...
...recent stumbles in Blackstone and Fortress shares might also point to another looming risk - that Congress will change the way such firms are taxed. Legislation introduced in the Senate on June 14 would tax financial-services partnerships as corporations, raising their rate from 15% to as much as 35%. The next day, Fortress shares dropped nearly 7% on heavy trading...
...Meanwhile, President Abbas, who remains a safe distance away from the fury of Gaza at his fortress home in the West Bank city of Ramallah, has accused Hamas - his partner in a short-lived unity government - of trying to stage a coup. Abbas aides warned that unless Hamas calls off its fighters in Gaza, Fatah will begin targeting Hamas members in the West Bank, where Fatah may be marginally stronger than the Islamists...
...hard to say. Unlike similar sites elsewhere in this fortress-strewn western Indian state, Chittorgarh offers few popular tourist diversions. There are no elephant rides through its stone portals, no village girls dancing in traditional garb, no French bistros or souvenir shops beckoning from refurbished seraglios. Nor does Chittorgarh boast the renovated opulence of Rajasthan's other great forts. Abandoned over 400 years ago, parts of it lie overgrown and in disrepair-quite the exception in a state chockablock with glitzy heritage hotels...
...children of that generation, Lincoln explained, the events of the Revolution remained "living history," and those Americans retained an emotional attachment to the political institutions that had been created. But the living memories of the Revolution and the founding could no longer be counted on. Those memories "were a fortress of strength; but what invading foemen could never do, the silent artillery of time has done; the leveling of its walls." So, Lincoln concluded, the once mighty "pillars of the temple of liberty" that supported our political institutions were gone...