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Many developers have already slashed prices and chopped overhead, leaving little room for further cutting, notes Bob Curran, a managing director at Fitch Ratings. "It comes down to how desperate the builders and developers are to do something like this - to take 20% off the top - when many have already...
Andrew Herzberg shrugs off such concerns. He says it all comes down to how the assets are managed, how the real estate performs, and, if all else fails, a reinsurance contract. He says the 20% premium fee will be placed into an investment trust and actively managed over the eight...
Not all permafrost is on dry land either. The East Siberian Arctic Shelf, a vast expanse of shallow seafloor off Russia's northeast coast, was once wetland as well. It was submerged as melting glaciers drove sea level up at the end of the last ice age, but it still...
It was like something out of a Hollywood disaster movie. On March 3, a sudden wall of water hit a cruise ship sailing in the Mediterranean Sea off the northeastern coast of Spain, killing two people, injuring 14 and causing severe damage to the vessel.
Until recently, however, marine scientists dismissed the idea of rogue waves as little more than a sailors' fantasy, with reason - there was little evidence to back it up. But in 1995, an oil rig in the North Sea recorded an 84-ft.-high (25.6 m) wave that appeared out of...