Word: getful
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...train wreck in slow motion," says Richard Parkus, head of commercial real estate debt research at Deutsche Bank. "Because it's in slow motion, people get this sense that it's really not happening. It is happening." To get a sense of just how the train wreck is unfolding, I took a tour last month of the warehouses and industrial parks of eastern Los Angeles County. Chris Bonney, the president of the City of Industry, Calif., office of commercial brokerage Lee & Associates, was my guide (and my driver). With the phenomenal growth of foreign trade passing through the ports...
First he showed me a small industrial park built not long ago by a local businessman. It's got tenants, and the owner has been making his mortgage payments. But when his loan comes due - commercial mortgages generally run three to 10 years, not the 30 that homeowners get - he almost certainly won't be able to refinance because building prices have dropped and lending standards have tightened. Which means he will either have to cough up a lot more up-front cash or lose the property...
MICHAEL SCHLACHTER, managing director at a California investment-consulting firm, on banks that are using a government program designed to help them get rid of debt to make enormous profits trading defaulted home loans...
...President Obama's fault that our multibillion-dollar homeland-security apparatus is more Keystone Kops than 24 ... The Federal Government is (alas) a vast, ungovernable enterprise. And the bigger it gets, the less effective it will become ... [Still,] the President is in thrall to the illusion of a skilled, paternalistic government ... Could the new New Deal just get airplane safety right first...
Afterward, nearly half of the Posit users noted improvements in everyday situations like remembering names or following conversations in a noisy restaurant, but so did 40% of the control group - and all they had to do during the study was watch the History Channel and get quizzed...