Word: renting
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Many soldiers grumble about their growing role as "rent-a-cops." Yet grunts serving in the Balkans have higher morale and are more likely to sign up for another tour than their Stateside buddies. Some officers see value in the missions that Powell disdains. Army General Montgomery Meigs, who led the peacekeeping forces in Bosnia and now commands all U.S. Army troops in Europe, says his forces can switch easily between peacekeeping and combat. Beyond that, they're learning valuable lessons. "You're getting a core of young leaders in the Army who are very tough and experienced," he says...
Dancers' Group lost its lease because it couldn't afford to pay the minimum rent increase: a whopping 400%, to $15,500 a month. And that was only half the space's market value. The studio is the latest victim of rocketing rents--six other dance studios in the area will have hung up their shoes by this November, and 2,000 musicians, including Chris Isaak and Faith No More, just got evicted when the city's largest rehearsal space was sold. But it's not just artists who are feeling the squeeze. Residential real estate is nothing short...
With so many dotcom bankruptcies hitting the business pages, it may seem as if the stock market has already sorted out this rent problem. Not true, says DeVol. "If the dotcom market slows down, there's still going to be some high-valued part of the technology industry to take the space. Venture capital has to go somewhere. This is a long-term problem...
KEEPING TABS Letting the rent go this month? That could cost you down the road. Rentport Inc. is collecting data from landlords on the timeliness of their tenants. While most are diligent about making their credit-card and car-lease payments on time, an estimated 5% slide on their rent checks, knowing it won't affect their credit rating. But now all three major credit-reporting agencies will be provided with this information. Rentport says tenants who pay their rent on time will improve their credit history. Certainly, using the data to avoid renting to potential deadbeats will help...
Despite the displacement, Latzanakis said that he expects to return to the location next spring after renovations are completed, although he will most likely pay a higher rent...