Word: secretions
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...private equity funds seized on the rental market in major cities in recent years, all this was jeopardized by the need to generate fat returns of 15%-20% per annum. Worse, this business model was based on a dirty secret - expelling as many existing tenants as possible. This is the thuggish reality behind otherwise respectable-sounding prospectuses offered to investors to explain how they could service high debt on mortgage-backed securities. "The borrower anticipates to recapture approximately 20%-30% of the units [roughly within the first year] and 10% a year thereafter," explained a prospectus for a portfolio...
Santander's Other Secret The Abbey turnaround came straight from the Santander playbook - and highlights the second key to the company's incredible success: software. First step, in goes Santander's proprietary Parthenon software, which organizes a bank's business by customer instead of by product line, as had been the case at Abbey. "This is the kind of sophisticated information JPMorgan still didn't have, and I saw it at a Santander branch in Chile," says Davide Serra, head of the U.K.'s Algebris hedge fund. The system facilitates cross-selling to existing customers while allowing Santander...
...again attempted escape. We drove to Jude's fortified crack den five minutes away. Lombard and I followed Elizabeth into the darkness behind the compound. We were joined by Shadrack, a kung-fu-trained church volunteer who worked as a financial adviser by day. Elizabeth tapped a secret knock, and after Jude ushered her in, Shadrack wedged his foot in the door. We pushed into the dingy flat, which bore the medicinal odor of crack. As the churchmen escorted Elizabeth to retrieve her clothes, I smiled and feigned ignorance of their intent. While Lombard and Elizabeth retrieved her possessions...
...Tuesday a state court will begin picking a jury in the trial of former House Majority Whip Mike Veon, a Democrat from western Pennsylvania, and three former party staffers, who are accused of running a secret campaign office in the Capitol building. The defendants are among 25 people from both parties indicted by state Attorney General Tom Corbett, who started the investigation three years ago, initially focusing on taxpayer money used to give bonuses to Democratic staffers working on campaign projects on official time. (See the top 10 scandals...
...came to light in a documentary broadcast on Israel's Channel 10 in January 2009. It showed Ratzon's "wives" cooking, cleaning and shopping together, eagerly anticipating the arrival of "Daddy" and competing over whom he would choose to spend the night with. On the show, Ratzon explained the secret of his magnetic attraction was that he was "perfect." "I have everything a woman wants, all the qualities a woman wants. I give women the attention they want. It's made of many things, but fortunately, I have everything," he said. Because there was technically no multiple marriage (no ceremonies...