Word: wallful
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...shoe to drop, the next big financial debacle. And for about a year now, the oft-predicted crisis has stubbornly refused to materialize. It's not that everything's fine in the commercial real estate business. Everything's awful and will probably get more awful. But unlike 2008's Wall Street panic, this particular financial unraveling looks as if it will play out over a period of years, not weeks...
Industrial properties are just one segment of the commercial market - the others being offices, retail sites, apartment buildings and hotels. But the problems Bonney showed me apply across the board. First, commercial mortgages are about to hit a refinancing wall. Deutsche Bank's Parkus estimates that more than 65% of the loans that have been packaged into commercial mortgage backed securities won't qualify for refinancing when they come due. Second, banks are already facing painful choices about what to do with short-term land and construction loans that will never be paid off in full. Finally, the vulture investors...
...late Walter Cronkite [Dec. 28--Jan. 4]. Every news junkie in America, young or old, has a Cronkite memory that has helped shape the way he or she understands the news. From his onscreen breakdown after JFK's assassination to his jubilation at the fall of the Berlin Wall, Cronkite's deep emotional connection to the world events he covered will always be appreciated and admired...
...Here's the sad truth: mainstream Muslims have zero influence over extremists. In fact, if one of those guys had a single bullet in his gun and you and I were up against the wall, he would shoot me first. He hates me more because not only do I not follow his perverse vision of Islam, I also represent an alternative interpretation...
...down by an Australian tribunal for apparently trying to pass off its sauvignon blanc as a New Zealand brand by labeling it Kiwi Cuvée, critics were quick to revel in the irony. Britain's Daily Telegraph newspaper called it a "humiliating blow to Gallic pride," while the Wall Street Journal said that France had gotten a "dose of its own medicine." But the French may have been less guilty of applying double standards than of using the same kind of savvy marketing strategies that have allowed new wine-producing countries like New Zealand to give France...