Word: investors
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...this process, the report explains, the investor-owners were helped by the fact that many transitional neighborhood tenants were new (and possibly undocumented) immigrants, whose lack of English fluency and legal representation put them at a disadvantage in housing court, where deals are typically hammered out with owners' lawyers before ever reaching the judges. Those actually executing these orders were often conflicted about it. "Having a large property owner as a client is great for the volume of work, but if you ask me about it morally or ethically, well, I'd rather not say," admits a housing court attorney...
...pretend," as the industry saying goes, or take a loss. After that, we visited a neighborhood of giant new warehouses. On one side of the street was yet another building with an underwater construction loan that the bank was stuck with. Opposite was a facility that a vulture investor pounced on last year, thinking it was cheap, only to see prices continue their decline. (See the five big questions about retirement...
Local officials have programs in place to help buyers but admit they're frustrated they can't do more. "We want to help families own homes," says Tom Freeman, spokesman for Riverside County's economic-development agency. "We do not want to see outside investors coming in and turning them into rental units." For their part, investors say they are buying up houses in such disrepair that first-time buyers would not be able to secure loans for them - and helping neighborhoods by making these units livable again. "I don't think anybody should have a problem with that," says...
...feds thus far have only been able to recover assets valued at about a tenth of the Ponzi scheme's take. But Rothstein's alleged investor victims are hoping his guilty plea will mean improved chances of retrieving more of their lost money. "It helps because it means he can testify in civil trials now, and he's said he wants to help make things right," says Scherer. He has filed suit on behalf of victims against Rothstein and Toronto Dominion Bank, which handled the accounts Rothstein used to conduct the alleged Ponzi scheme. (TD Bank insists it exercised proper...
That was the main message behind the one-day Investor Summit on Climate Risk at the U.N. on Jan. 14. The event connected green luminaries like Al Gore with the unfamous people who direct hundreds of billions in private investment. This was the fourth annual summit, but it may have been the most fortuitously timed of the lot - occurring after Copenhagen, before the U.S. Senate begins its real work on climate legislation this year and just as investors begin to climb out of the recession. The feeling at the session was hopeful - investors, especially large-scale institutional funds that need...