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Those packaging these investments say they regarded them as aboveboard, though their defense is less than robust. Key players included leading banks in tandem with some of the biggest names in real estate and private equity, none of whom would have missed that high tenant turnover was the main motor for profits. "We truly went into this trying to turn housing that was run very, very poorly by slumlords into affordable working-class housing, and to be portrayed like this is somewhat upsetting, to be quite frank," says Richard Mack, who works at AREA Property Partners, a $9 billion partnership...
...help. Banks have been reporting that consumer credit is improving, with fewer individuals falling behind on their mortgage or credit-card bills. But programs like the government's Home Affordable Modification Program are allowing some borrowers to skip mortgage payments and temporarily lower their bills. If that is the main reason banks are reporting fewer bad loans, that improvement may not last...
...view, the government should focus JAL's operations strictly on the domestic market. Japan has only two main carriers for domestic routes, JAL and All Nippon Airways, but both airlines' international routes have to compete with bigger - and healthier - global carriers. Over the last few years, JAL has continuously cut back on unprofitable international routes, and will continue to do so under its revitalization plan. Today, JAL has roughly three times the number of international routes operated by ANA, but Matsumoto says that if things go according to plan in the next three years, the size of JAL's international...
...much as put a bumper sticker on her car or a sign in her yard, she says. But in the past few weeks, she has done both. And Monday afternoon found her at her first political rally, braving the cold and a light snow with several hundred others along Main Street...
...Health care - that's what motivated me," Penney said. "The health care thing pushed me over the edge." President Barack Obama's effort to transform the nation's health care system was indeed cited by many of the Brown voters I talked to on Main Street. And therein lies a bitter irony: universal health care was the cause that meant more than any other to the late Senator Ted Kennedy, whose seat will be filled by this special election. Further, Massachusetts is the state that has come closer to achieving it than any other, with a 2006 law that...