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Still, Herzberg's Sirius Value program is far from a slam-dunk fix for the housing slump. Under the program, which received a provisional patent from the U.S. Patent and Trademark Office last month, the developer or homebuilder must give 20% of the purchase price to Herzberg's group as...
The program isn't without risk for homebuyers either. It requires the homeowner hang onto the new home for eight years before being able to exercise the put option. If the owner sells the house on the open market or loses it in foreclosure before the eight-year waiting period...
James Wilson, a managing director at JMP, expressed similar concerns. "It all sounds great, but when push comes to shove, and if we had another housing collapse in eight years, could the counterparty afford it?" asks Wilson.
Andrew Herzberg shrugs off such concerns. He says it all comes down to how the assets are managed, how the real estate performs, and, if all else fails, a reinsurance contract. He says the 20% premium fee will be placed into an investment trust and actively managed over the eight...
Protection for tuna was initially proposed by Monaco late last year, and if the motion passes at the CITES meeting, the fish would be listed under the treaty's Appendix I. That would amount to a total trade ban, though countries would still be able to fish the tuna for...