Word: funds
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...Stuyvesant Town and Peter Cooper Village, built originally to accommodate World War II veterans, into luxury housing, for which limits on yearly rent increases are chucked in favor or whatever the market will bear. The prospectus offered by the lead investors, Tishman Speyer and Larry Fink's asset-management fund BlackRock, imagined evicting 50% of rent-regulated tenants in just a few years. But tenants fought back and won in a court decision that also undercut plans for using city tax abatements to further sweeten returns on apartments pushed into luxury decontrol. The upshot, according to a recent Deutsche Bank...
...Mendoza, Cobos became provincial governor in 2003 and then quit the Radical Party so he could run as Fernandez's No. 2. Relations between the two quickly soured. Since assuming office, Fernandez has renationalized companies that were privatized in the 1990s including airlines and public utilities, and privatized pension-fund assets worth $30 billion. She also led the country to the brink of a civilian uprising over her brash attempt to levy a hefty tax on the country's lucrative soy exports in 2008. The move, announced just prior to the commencement of the yearly harvest, enraged farmers and caused...
...office now wants to know to what extent Ozawa is mired in the tangled path of how a sum of 400 million yen ($4.4 million) came to be used to buy residential land in western Tokyo in October 2004 to build housing for Ozawa's aides. Rikuzankai, Ozawa's funds-management body, failed to properly report the sum and could be in violation of Japan's Political Fund Control Law for misreporting the funds, not logging the land purchase properly and concealing an illegal donation from the construction company. Ozawa has apologized to the Japanese people for any "misunderstanding...
...group fighting for the right to marry and serve in the military while openly gay, success in politics is about more than pride. "We need to have people at the table of power when decisions are being made about our lives," says Dison of the Victory Fund. "Our straight allies and nonallies get to know us as human beings, and that tends to affect hearts and minds...
...upside of this approach is that it gives banks time to work out problem loans in an orderly fashion. It also averts a big hit to the FDIC's empty insurance fund. The downside is that it drags out the correction for years, delaying any rebound. "The smart money, and there is plenty on the sidelines, is waiting for the bottom to materialize," says Bonney. It may still be waiting a year from...