Word: longer
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Michael Seton, a managing director in the New York office of German-based property lender Eurohypo AG, said foreigners view the U.S. market as a long-term investment. "They're less rattled by the subprime crisis and short-term gyrations in the market," Seton explains. "Their horizon is longer, which in the end is good for the real estate business. These are properties that are meant to be held onto." The new Italian owners of the Flatiron say they're in for the long haul and plan to seek city approval for a new project to illuminate the exterior...
That said, Apple's stock price dropped over 2% because AT&T will no longer pay a subsidy to Apple to sell iPhones, as it did for the 1.0 versions. Jobs is clearly expecting to make up that shortfall by selling even more handsets, in the U.S. and abroad, much faster than anyone imagined. Purchasers will still need to sign a two-year contract with AT&T to use the phone. And the price for a basic plan increases by $10 for 3G usage (that is, $30 a month for unlimited data, with voice plans starting at $39.99 a month...
...government in Hanoi has been slow to tackle some of the problems in part because battle lines are no longer neatly drawn between Communist Party hardliners and the party's more liberal economic reformers. Decision-making has been fragmented to the point of paralysis, says Pincus. For example, no single entity is in control of monetary policy. In a system that works on consensus- not just among the party but committees, ministries and provinces-it has been difficult to get leaders to make tough decisions. "It's always harder to distribute the pain," says Pincus. "It's much easier...
...streets ought to be in school. The reason for their truancy, however, is fear: "The kids are scared," says Dilek Turan, a psychology student who volunteers in Sulukule. "They don't want to go to school because they worry that when they come home, it will no longer be there." It's a valid fear: City authorities plan to demolish their homes as part of a controversial urban renewal project to tidy up Istanbul in time for its stint as 2010 European Cultural Capital...
...United Nations estimates that roughly half of the storm's victims have still not seen any form of aid more than four weeks after the cyclone. A pledge last month by junta leader Than Shwe to U.N. Secretary General Ban Ki-Moon that the government would no longer impede foreign relief work has still not been fully met. After nearly a month vainly awaiting permission from the junta to deliver relief supplies, four U.S. Navy ships on June 5 departed waters off the Burmese coast...