Word: manhattanization
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Kyle McAvoy is a brutally overworked first-year associate at the high-flying, albeit fictional, Manhattan law firm Scully & Pershing. Fresh out of Yale Law - he edited the law review there - Kyle works up to 100 hours a week. He keeps a sleeping bag under his desk. He makes $200,000 a year, but he barely has time to spend...
...soon-to-be-defunct address on Manhattan's Fifth Avenue was perfect for the tone of classy depravity that the magazine tries to project and that made it acceptable to a more sophisticated type of reader who might otherwise be embarrassed to be associated with porn. This is not about the objectification of women, it said, it's about harmless fun. And some good journalism. But with the anonymity and impermanence of the Internet (no more telltale boxes of magazines under the bed), there's less appetite for Playboy's now almost coy-seeming nudity. A girlie magazine located...
Just keep in mind that real estate is still, to a great extent, a local phenomenon, and renters in some markets will benefit more than others depending on regional economics. Take, for example, Manhattan, the main borough of New York City, whose fate is largely aligned with finance firms. Following mass layoffs, the local apartment brokerage CitiHabitats has already seen a fall-off, with the average rent for a one-bedroom apartment dropping 2.5% in the last three months of 2008, compared with a year before. PPR's one-year forecast show rents dropping in 39 of its 54 markets...
What are the keys to a successful liquidation? Start with the signs. At the Circuit City near Manhattan's Lincoln Center, Fried, fresh off a nine-week job running clearance for a Mervyn's store in California, has plastered the storefront window with seven somewhat garish red and yellow posters: Store Closing Sale! Nothing Held Back! Entire Store on Sale! Inside, the discount stickers (30% off for furniture, mobile phone accessories, and cables, 20% off CDs and DVDs, 10% off everything else) and sale rules (no returns, no checks) are ubiquitous. "If we look obnoxious, we're doing our jobs...
...have to relocate because of your job, you can deduct a portion of your move. To qualify, your new commute would have to be 50 miles longer than it would be if you stayed in your current home. Since Geithner's place of work may be changing from lower Manhattan to Washington, he qualifies. And unlike the job-search deduction, moving expenses are not subject to the AMT. So don't go with one of those flat-fee moving services, Tim. On the basis of your current salary, taxpayers could pick up as much as 30% of your relocation costs...