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...lower-risk alternative is investing in real estate through publicly traded companies known as Real Estate Investment Trusts, or REITs. These stocks earned a nasty reputation in the '70s and '80s, when REITs loaded up with debt and used the proceeds to invest largely in the higher-yielding debt--junk--of developers. REITs collapsed when the developers went bust after building too many skyscrapers...

Author: /time Magazine | Title: HOW TO BUY A SKYSCRAPER | 4/21/1997 | See Source »

Today's REITs are altogether different. They carry half the debt, are far better managed and invest mainly in actual property--not developers' mortgages. The stocks, while no longer cheap, have a lot going for them, including secure dividend yields of more than 6%. The security lies in the federal requirement that REITs pay out 95% of their income. The hefty dividends provide a cushion when the market falls. From March 11 through last week, the Dow Jones industrial average fell 9.8% while REITs fell just 5.4%.. During the four years through 1996, negative average returns were reported...

Author: /time Magazine | Title: HOW TO BUY A SKYSCRAPER | 4/21/1997 | See Source »

...money would be set aside by the city and would be used to support a bond...to invest in affordable housing," Triantafillou said...

Author: By Courtney A. Coursey, | Title: Council Amends Transfer-Tax Petition | 4/16/1997 | See Source »

...biggest potential problem for digital TV lies with cable systems. Only one cable system in the country can currently handle digital signals; all the rest will have to invest in billions of dollars of new equipment first...

Author: By Kevin S. Davis, | Title: techTALK | 4/8/1997 | See Source »

...LeBow feel about being the maverick who broke ranks with his peers? "I just feel like we've done the right thing," he says. "I'm not a maverick." He can deny that all he wants. But LeBow is more maverick than James Garner. He shuns glamour, preferring to invest in down-and-out companies. He has teamed up with the likes of Carl Icahn, a consummate outsider. And he doesn't mind an ugly fight...

Author: /time Magazine | Title: POPULIST HERO OR BOTTOM FEEDER? | 3/31/1997 | See Source »

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