Buying corporate capital

Corporations back in buying game  March 24, 2011 – 12:33 pm

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By Sarah Trefethen

The way money is flowing these days, corporate tenants may be asking: why rent if you can buy?

With lenders less enthused by real estate investment than they are by well-heeled corporate borrowers, some experts say, the interest, taxes and maintenance fees that an owner-occupier would pay for office or retail space in Manhattan stack up favorably against commercial rents.

Michael Rotchford

“It’s a cyclical situation, ” said Michael Rotchford, Cushman and Wakefield’s head of corporate finance and investment banking. “In certain times in the real estate cycle matched up to the capital cycle it becomes much more affordable for corporations to buy real estate.”

The effect of this alignment of the financial stars may be seen in recent deals, from fashion retailer Zara’s purchase last year of its 38, 750 s/f retail condo at 666 Fifth Ave, to the Federal Reserve’s decision to purchase 33 Maiden Lane, (where it has offices, ) to Google’s building on Eighth Avenue and the recent announcement that Gary Barnett’s Extell Development Company has struck a 285, 000 s/f deal with the department store Nordstrom’s to kickstart the developer’s planned mixed-use project on 57th Street on the West Side.

Source: Real Estate Weekly

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The communist manifesto

A spectre is haunting Europe -- the spectre of communism. All the powers of old Europe have entered into a holy alliance to exorcise this spectre: Pope and Tsar, Metternich and Guizot, French Radicals and German police-spies.
Where is the party in opposition that has not been decried as communistic by its opponents in power? Where is the opposition that has not hurled back the branding re...d of proclaiming its supreme and impartial contempt of all class struggles. With very few exceptions, all the so-called socialist and communist publications that now (1847) circulate in Germany belong to the domain of this foul and enervating literature. [3]
2. CONSERVATIVE OR BOURGEOIS SOCIALISM
A part of the bourgeoisie is desirous of redressing social grievances in order to secu

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Off-balance-sheet land is where death spirals lurk

Enron's crash has shown that very scary liabilities can hide in a set of books.
pay no attention to those liabilities behind the curtain.
That is the message corporate America has sent to investors in recent years as executives have shunted billions of dollars in new and existing financial obligations off their books and into the nether world known as 'off the balance sheet'.
W...s in the market, it leads to decline in confidence.'
Ms Levenson, the bond analyst, agreed. 'I truly believe if Enron had kept all this stuff on the balance sheet and worked it into its maturity schedule just like any other debt, even if it meant carrying a $US3 billion higher debt load,' she said, 'it may not have been a strong triple-B credit but it might still be a going concern today.'

Well.....

The so-called 'War on Terrorism' has so far none nothing to alleviate the constant threat of international and domestic terrorism, but has always been about the geo-politics and logistics of the oil economy. At the forefront of this oil-base war against Afghanistan are the major international petroleum companies, most notably ExxonMobil and Unocal, and the Commander-in-Chief himself, Mr. George ...s in turn augurs improving corporate profits. The insiders who control's the market for XOM stock like what they see on the horizon. The same could also be said for Texaco and Conoco, among other smaller petroleum concerns.
So regardless of what the mainstream press proclaims in the days and weeks ahead concerning America's 'War on Terrorism,' remember this: It's really all about the oil.

Retirements

In a nation where more than half of all households are invested in the stock market, the largest corporate bankruptcy in U.S. history of the United States should put the fear of God in us. Primarily, it seems to have fueled fears about our retirements.
America is surprisingly unmoved by the Enron meltdown, according to pollsters at Gallup. 'Even before the Enron crisis moved to the nation'... our current safeguards worked, the public should demand better safeguards. The corporate raiders are, by in large, making a killing at everyone else's expense (even if Kenneth Lay does have to sell his ski houses). Wall Street isn't likely to stand up and demand greater accountability and systemic change. It's going to have to be the public.
Will there at least be a Hollywood blockbuster?

Swiss private bank UBP axes 100 jobs  — Reuters
Also in November, Credit Suisse said it would chop about 550 jobs at private banking unit Clariden Leu after saying it would integrate it, bringing to an end the 250-year-old Leu brand. (Reporting by Emma Farge; Additional reporting by Martin de Sa …

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