Word: sq
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Dates: during 1980-1989
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...saga of the Kroh brothers shows how fast fortunes can turn in the real estate business. During the past five years, they had nearly tripled their firm's holdings, from 5.3 million sq. ft. of property to 14.3 million sq. ft. The company was transformed from a family-run Kansas City operation into a national firm with 458 employees, assets of $197.4 million and investments in 13 states. Credit came easily: recognizing the company's record of success, banks extended Kroh Development $39 million in unsecured loans...
Shuwa Investments, a family-owned real estate developer, may be America's largest Japanese landlord. The company made headlines last summer when it bought ARCO Plaza, a prime, 2.4 million-sq.-ft. piece of downtown Los Angeles, for $620 million, in the biggest real estate megadeal in California history. Since September 1985, Shuwa has spent $2 billion to acquire some 12 million sq. ft. of property in the U.S., including two buildings in Century City, Calif., worth $235 million, Chase Plaza in downtown Los Angeles ($103 million) and the ABC tower in Manhattan ($175 million...
...years the source of that water seemed inexhaustible. Much of it comes + from 165-sq.-mi., dam-created Gatun Lake, through which the ships pass on their route across the isthmus. Most of the remainder is tapped from nearby Madden Lake, formed in 1935 (also by damming) to provide an additional reservoir of water for the dry season. But now a 375-page report by Stanley Heckadon Moreno, an environmentalist at Panama's Ministry of Planning, has raised a startling worry about the canal's future: it may be running short of water...
...problem is that the dense tropical rain forest that blanketed the 1,300-sq.-mi. watershed around the route of the canal has been disappearing at an alarming pace, cut away by farmers. By 1950 some 20% of the forest had been cut. Now more than 70% has vanished, and about 800 acres of the remainder is being cleared every year...
Once the trees are gone, denuded slopes are eroded by rainfall, which has been washing soil into 20-sq.-mi. Madden Lake at the rate of half a million tons a year. A study by Hydrologist Luis Alvarado of the Panama Canal Commission shows that silt accumulating at the bottom of the lake has reduced its storage capacity by 5%. By the year 2000 the loss could be as high as 10%, and by 2020 nearly...