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...they quickly paid off. Over the many deals, BVG received cash payments from the American investors totaling €68.9 million, or about $90.6 million at current exchange rates. BVG in turn paid the American investors monthly rent to use the equipment, a return the Americans enhanced with that big tax break. For its part, BVG used the money it derived from the deals to pay down debt, which has saved it €35 million ($46 million) in interest payments. It was a shell game of sorts, but everyone made out - except, of course, the U.S. taxpayers, who were unwittingly subsidizing...

Author: /time Magazine | Title: German Cities Suffer in the U.S. Financial Crisis | 4/9/2009 | See Source »

...Frankfurt, the Messe Frankfurt GmbH, a company that operates Frankfurt's convention center, leased its exhibition halls to an American investor for 99 years and signed a deal to rent it back for 28 years. The Messe would not disclose any details of the deal or say whether AIG is providing its credit insurance...

Author: /time Magazine | Title: German Cities Suffer in the U.S. Financial Crisis | 4/9/2009 | See Source »

...company since she received a letter terminating her employment.Guevara said her work as a housekeeper was her only source of revenue. “Without [my job], I don’t have anything,” she said through a translator. “I have my rent, car insurance, regular bills for me and my family.”Guevara said that she had been studying to get her GED through a bridge program with Harvard, but because she will no longer be affiliated with the University, she will have to leave the program after this semester. Reina...

Author: By Laura G. Mirviss, CRIMSON STAFF WRITER | Title: HMS Staff Refuse To Accept Layoffs | 4/7/2009 | See Source »

...mold, no Chinese drywall.) And then there are the newly pissed off and liberated: the guy in his 40s who's tired of watching his IRA shrivel, who calls and says, "I'm coming down," who wants six houses at $50,000 each, nice flat homes that he can rent to people who are sick of shoveling snow or climbing stairs. That's less than the land used to sell for; it's as if you get the house for free...

Author: /time Magazine | Title: The Hope in America's Foreclosure Capital | 4/2/2009 | See Source »

...high-end women’s clothing boutique, is closing its doors permanently after nearly nine years in Harvard Square. Owner Marie Santa Maria, who along with her husband Hernando also owns and operates the boutique Via Vai across the street, said that rising rent and a mismatch between the store’s offerings and Harvard Square clientele precipitated the closure. “We’re going to be reinventing ourselves somewhere else,” she said. While Santa Maria declined to disclose the exact location of the new store she and her husband plan...

Author: By Shan Wang, CRIMSON STAFF WRITER | Title: Rising Rents Cause Shop to Close Down | 4/1/2009 | See Source »

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