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...buying binge comes as commercial real estate rents and occupancy rates continue to plunge, leaving industry experts wondering if the rally was premature at best - and overdone at worst. "I'm a little bit more cautious in the near-term, given the rally that we've had and where valuations sit," says Michael Bilerman, a Citigroup Global Markets analyst. "They're trading at a 15% to 20% premium to NAV [net asset value]." He says he wouldn't be surprised if REIT stocks saw a 5% to 10% correction in the near-term. (Read "New REITs Pounce on Distressed Mortgage...
...notes Bilerman. Although the FTSE NAREIT All REIT Index surged 97.6% from the group's trough on March 6, it's still off 50% from its peak in February 2007, according to the NAREIT. So investors are willing to pay up for REITs based on their longer-term outlooks and potential windfall in the distressed real estate market, says Bohjalian. REITs touted as likely buyers in the distressed market are Simon Property Group, Vornado Realty Trust, Boston Properties and Host Hotels & Resorts...
...Ford officials, of course, are ecstatic. "These results from such a highly respected and credible source of information for consumers confirms that Ford not only has raised initial quality to industry-leading levels, but also is delivering the excellent long-term reliability that is critical to winning new customers and retaining existing ones," said Bennie Fowler, Ford group vice president of global quality...
...blog still is an embryo, commemorating the death of Geocities and boasting pretty Harvard pictures. Its most popular tags are "J-Term" and "the internet"—a bit reminiscent of the comatose GossipGeek, which featured animated gifs and other older internet throwbacks...
...implicit interpretation of the Constitution's requirement that the government "provide for the common defense and general welfare" of the nation. In 1794, President George Washington personally commanded a militia and used it to suppress a rebellion against a federal whiskey tax. Although he did not use the term national emergency, the Whiskey Rebellion was the first instance in which a President gave himself a one-time use of additional power. Abraham Lincoln took emergency action against the Southern states that seceded from the Union. Congress was not in session when he took office, so Lincoln enlarged the military...