Apr 30
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The owners of tens of thousands of New York City’s largest buildings would be required to conduct energy audits and make energy efficiency retrofits under a sweeping package of green building laws announced last week by New York City Mayor Michael Bloomberg…
Apr 30
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Dubai World has agreed to new terms with MGM Mirage on the construction of CityCenter in Las Vegas, dropping the lawsuit that it filed against the casino owner a month ago.
The joint venture partners plan to fund the $800 million in remaining equity…
Apr 30
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The beleaguered American International Group, which is selling assets to repay tens of billions of dollars in government bailout money, may shut its mortgage insurer after failing to turn around the unprofitable unit, Bloomberg News reports, citing two unidentified people familiar with the matter.
Apr 30
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MBIA, the world’s largest bond insurer, said Thursday that it had filed a lawsuit against Merrill Lynch seeking damages for losses from complex debt securities that it had insured for the firm.
Apr 30
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The U.S. will provide financing during the bankruptcy proceeding, which President Obama said would be “quick, official and controlled.”
Apr 30
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How the first bankruptcy for a major automaker since Studebaker in 1933 is likely to play out.
Apr 30
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Major U.S. retailers closed nearly 7,000 stores while opening approximately 5,700 new locations in 2008 resulting in a net loss of more than 1,000 stores for the year, according to exclusive research compiled by CoStar Group Inc.’s news division. Although…
Apr 30
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If Chrysler files for bankruptcy protection, as seemed almost inevitable Thursday, there could be a very public brawl between the government, which is effectively propping Chrysler up with billions of dollars in loans, and a group of its recalcitrant lenders.
Apr 30
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Kenneth D. Lewis, a man who thrived on scoring the next big deal, found himself sunk by one, The Associated Press writes.
Mr. Lewis was stripped of his title as Bank of America’s chairman Wednesday when shareholders voted to separate that job from the chief executive’s position. He’ll stay on as chief executive, but the loss [...]
Apr 30
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With a bankruptcy filing by Chrysler appearing all but certain, President Obama will address the fate of the automaker at noon.
Apr 30
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There could be a very public brawl between the government and a group of its recalcitrant lenders.
Apr 30
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kstraw2 has added a photo to the pool:
Apr 29
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MGM Mirage and Dubai World said Wednesday that they had reached an agreement with their lenders on a plan to fully finance CityCenter, an $8.5 billion residential and casino development on the Las Vegas Strip.
Apr 29
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New Jersey regulators authorized Wednesday what could be an 80-percent-off sale for one of Atlantic City’s largest casinos, permitting the Tropicana Casino and Resort to be sold in a bankruptcy court auction — possibly to the billionaire financier Carl C. Icahn.
Apr 29
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Shareholders stripped Kenneth D. Lewis of his chairman’s title in a vote that may mark the beginning of the end of his leadership at the embattled bank.
Apr 29
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On the day that a Mexican toddler became the first person to die of the disease on United States soil, the W.H.O. warned that a “pandemic is imminent.”
Apr 29
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An uptick in both the number and average loan size of new defaults resulted in a one-quarter point climb in March CMBS delinquencies to end the month at 1.53%, and there are significant indicators that point to record climb in defaults in April as well…
Apr 29
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Normandy Real Estate Partners, one of the nation’s largest real estate private equity firms and one that is making a name for itself bailing out Northeast office investors, has initiated a play for Australian REIT RNY Property Trust.
RNY presently…
Apr 29
Manhattan building owners are trying to make deals by chopping large spaces into smaller units and finishing off the space before a tenant is signed.
Apr 29
A developer of property next to the long-awaited High Line elevated park insists that, in a downturn, building bigger is better.
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