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Investors may be jittery, having watched a number of mortgage REITs, such as New Century Financial Corp. and American Home Mortgage Investment Corp., file for Chapter 11 bankruptcy protection over the past couple of years, and others, such as Arbor Realty Trust and Gramercy Capital, struggling to stay afloat. Even Starwood's newest offering could stir concerns if investors check out the sour performance of one of Sternlicht's previous specialty finance companies, iStar Financial...

Author: /time Magazine | Title: New REITs Pounce on Distressed Mortgage Assets | 8/18/2009 | See Source »

...other words, the lower federal courts had no power to hear another word from Davis. But he could make his pitch directly to the Supreme Court. Prisoners have been trying for nearly 50 years without success to get the Justices to employ this "original jurisdiction." Davis succeeded. (Read "Stay of Execution for Georgia...

Author: /time Magazine | Title: Davis Ruling Raises New Death-Penalty Questions | 8/18/2009 | See Source »

...elected from an opposition party in South Korea's history. (A fellow dissident and political rival, Kim Young Sam, had thrown in with the ruling party when he was elected in 1992.) Kim's election, more than anything, showed that democracy had come to South Korea to stay. (See pictures of brawling legislators in Seoul...

Author: /time Magazine | Title: Former South Korean President Dies at 85 | 8/18/2009 | See Source »

...community and built this shiny new thing," says Julie Weatherbee, 42, who works at the University of Michigan library. "And we don't want it." Weatherbee wasn't a huge fan of the old paper but thinks it could have been improved instead of destroyed - and that locals might stay away from AnnArbor.com because of what Advance did. (See 10 perfect jobs for the recession - and after...

Author: /time Magazine | Title: Ann Arbor Kills Its Newspaper — To Save It | 8/17/2009 | See Source »

...made the pilgrimage amid the war, and those who did undertook the journey mostly during lulls in fighting. "We came, we worshipped, we left - that was it, we never wanted to stay back," says Lesley Fernando, who is Sinhalese and was brave enough to visit the shrine during the fragile truces in the war. (About 7% of Sri Lanka's population is Catholic, with adherents among both of the nation's major ethnicities: the Sinhalese, who are otherwise mostly Buddhist, and the Tamils, who are predominantly Hindu.) But never have pilgrims been seen in such numbers as they were last...

Author: /time Magazine | Title: How the Virgin Mary Survived Sri Lanka's Civil War | 8/17/2009 | See Source »

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