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NorthCountryRambler
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Condé Nast to Anchor 1 World Trade Center
“Condé Nast to Anchor 1 World Trade Center - http://nyti.ms/mU6Qnl”http://topics.nytimes.com/top/news/business/companies/conde_nast_publications/index.html?scp=1-spot&sq=conde%20nast&st=cse
9/11’s White Elephant
That fancy office building at ground zero is going to soak commuters for decades and decades.August 20, 2011MORE ON CONDÉ NAST PUBLICATIONS AND: SEPTEMBER 11 (2001), BRIDGES AND TUNNELS, 1 WORLD TRADE CENTER (NYC), TOLLS, NEW YORK STATE, NEW JERSEY, PORT AUTHORITY OF NEW YORK AND NEW JERSEY, CHRISTIE, CHRISTOPHER J, CUOMO, ANDREW M
http://topics.nytimes.com/top/reference/timestopics/subjects/f/freedom_tower_nyc/index.html?scp=1-spot&sq=1%20world%20trade&st=cse"But in May 2011, the project got its greatest vote of confidence when Condé Nast Publications reached an agreement to lease one million square feet, giving ground zero a much-needed corporate anchor with a proven ability to attract other businesses.
To attract Condé Nast, the Port Authority of New York and New Jersey, which owns the site, had to take on some risk, notably by agreeing to assume the last four or five years of the company’s current lease in Times Square. But the deal, worth an estimated $2 billion over 25 years, still represents a victory for the Port Authority, which has suffered criticism for years of missteps, delays and political squabbling over the rebuilding of the trade center. Critics doubted whether the lead tower would attract tenants other than government agencies, making it little more than an expensive, 1,776-foot-tall monument.
The talk in the months before the deal was announced that Condé Nast was interested in ground zero was enough to entice other large companies to begin eyeing the neighborhood, which is steadily diversifying as financial firms have shrunk or moved away. Sirius Satellite Radio, J. Crew and the law firm Chadbourne & Park are also considering moves downtown, and the owners of the nearby World Financial Center have even debated whether to rename the complex to reflect the growing number of nonfinancial firms downtown and the young people who live and work there.
Also in May 2011, the Port Authority reached a partnership deal with the Durst Organization, which will pay $100 million for an estimated 10 percent stake in the building and be in charge of leasing the tower."
Business as usual.
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jrey
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Does IMF Stand for Impressive Macroeconomic Flexibility?
So the IMF is holding a meeting on rethinking macroeconomic policy (I was invited but couldn’t make the timing work.) And the Fund’s chief economist has already made it clear that he’s open to some serious revision of the prevailing paradigm.
Down the road, down the road.
http://hat4uk.wordpress.com/2012/03/23/frankfurt-contact-tells-slog-eurozone-will-shatter-by-autumn/
"FRANKFURT CONTACT TELLS SLOG: “EUROZONE WILL SHATTER BY AUTUMN”
“Spain and Italy cannot be contained”
Incompetent mendacity still a la mode throughout EuropeAs ECB President Mario Draghi declared the eurozone out of the woods yesterdays, The Slog’s Bankfurt Maulwurf offered a diametrically opposed opinion. And more details emerged of how French security services botched the monitoring of scooter-killer Mohammed Merah.
A brief thank you to Trolls throughout the Globe who emailed and threaded at The Slog to relish me “being wrong about” the Greek default planned for today. We still have some time to go before 7 pm GMT guys and gals, but just to reiterate for the zillionth time, I was informed about a plan in the US financial Establishment to work with eurozone leaders on the fast-track amputation of Greece. It appears the plan failed or was abandoned – as I have suggested several times over the last ten days. I would maintain that a lack of European balls and probably deranged American hubris ensured its demise. But that hardly makes me ‘wrong’.
What it does suggest is incompetent indecision and double-cross on a massive scale, and there is yet more ample evidence of that from the last 24 hours.
“The worst is now over,” proclaimed Mario Draghi yesterday. An excellent comment thread here suggested that this was a misunderstanding, in that Signor Draghi is fond of German sausages, and as he swallowed the last of his snack, said “the wurst is now over”.
But The Slog’s Frankfurt Mole is of a different opinion.
“What we are now seeing,” he began, “is instability in the larger [EU] sovereigns. We always knew this was going to happen, and it is coming to pass. Spain has clearly decided to kick back, and there is an interdependence between Iberia and Italy that is not well understood. We are also going to see massive losses throughout all EU and US banks this time. Further obligations and so forth will then emerge, and for the eurozone it will be the end. Signor Dragi could try and print his way through further bailouts, but we hold all the cards now. Berlin simply will not allow it. It doesn’t matter any more that the [EU] Central Bank is legally beyond the law….it is not beyond reality. The eurozone will shatter once this impasse is reached. In my estimation the situation will be critical before the winter comes.”
Readers new to this saga need to realise that our Maulwurf represents the archetypal hawkish Frankfurt/Bundesbank view of life. But at the same time, their view is gradually gaining ground in Germany….and equally, the evidence for the accuracy of their predictions grows apace.
A stream of bollocks emanated from Madrid yesterday, led by the Spanish finance minister, who called comparisons between Spain and Greece ‘completely ridiculous’. He’s right, too: this time it’s going to be much, much worse. But it is happening: Spanish yields on 10-year bonds are up to 5.47% after rising all week (in March, the yield was below 5 percent) and the 10-year Italian bond yield climbed 12 basis points to 5%. German bund yields, on the other hand, are falling as the safe haven factor kicks in again. The inherent bond spreads problem in the ezone is just as marked as it ever was.
Portugal is the one ClubMed that has been literally running on empty for some three months now. Yesteday, it emerged that town halls there face default amid 9 billion euros of debt unless the government provides aid soon. So said Fernando Ruas, president of the nation’s association of municipalities…but I’m afraid the last train to San Fernado left ages ago: there simply is no money left.
But most of the news media flocked to Toulouse in order to witness another Islamist leave en route for the 77 virgins. After the bloke jumped from a bathroom window while still firing his sten gun, French interior minister Claude Guéant revealed that Mohammed Merah had been on the radar of the DCRI — France’s domestic intelligence agency — “for years”. It has also since transpired that Merah was questioned by the intelligence service as recently as November 2011, after being summoned to explain trips he had made to Afghanistan and Pakistan. Astonishingly, Merah was reportedly granted freedom to leave by his French intelligence questioners after providing them with photographs supporting his claims of having merely been on an innocent tourist holiday.
The conspiracy theories about the positive effect on Sarkozy . . ."
http://krugman.blogs.nytimes.com/2012/03/23/the-macro-wars-are-not-over/
"March 23, 2012, 9:57 am
The Macro Wars Are Not Over
Noah Smith has a post on the current state of the macro controversy that’s justifiably getting a lot of attention.By and large I agree with his points: Keynesian revivalists like Brad DeLong and yours truly have not managed to get a dramatic reversal in policy, nor have we persuaded the freshwater side that it’s all wrong. But we have managed to change the conversation.
And by the way, I really like the analogy to Louis XIV’s wars, which involved many great battles but little change in borders.
That said, I think Noah underestimates how much this continuing argument matters even in the short run.
On the policy side, major new stimulus may not be in the cards — but there is a real divide in the US between modest stimulus proposals that have some chance of getting implemented and major austerity moves that also have some chance of being implemented. The difference between those two policy variants could be the difference between unemployment below 7 percent two years from now and unemployment back above 9 percent. So this argument has real short-term policy relevance.
And in Europe, the question of whether harsh austerity remains the only tool is very much up in the air. Again, the argument among economists matters.
On the academic side: look, to a first approximation nobody ever admits being wrong about anything. But my sense is that a lot of younger economists are aware, even if they don’t dare say so, that freshwater macro has been a great embarrassment these past four years, and that liquidity-trap Keynesianism has done very well. This will affect future research; it will, over time, break the stranglehold of decadent Lucasian doctrine on the journals.
And the giggles and whispers thing — in which anything resembling non-microfounded Keynesian analysis was the subject of automatic ridicule — is already, I think, over. Look at Delong/Summers on fiscal policy: the analytical core is, yes, the IS-LM model.
In a better world, Brad and I and our fellow-travelers would have achieved an immediate transformation of both policy and doctrine. We don’t live in that world. But I think we are winning the argument, in ways that will make a difference."
http://www.telegraph.co.uk/finance/financialcrisis/
'Start your own rating agency', Moody's tells governments
Governments that don't like the credit ratings they are given by private companies should find a way of starting an agency of their own, according to the head of Moody's.
23 Mar 2012| 3 CommentsHealth expert Kim is US choice for World Bank
President Barack Obama has nominated Jim Yong Kim, the president of the Dartmouth College and a global-health expert, as the new president of the World Bank.
23 Mar 2012| 32 CommentsWho is Jim Yong Kim?
US President Barack Obama has nominated Jim Yong Kim to be the next head of the World Bank. We look at who is he and what's on his CV.
23 Mar 2012| CommentFive facts about Jim Yong Kim
US President Barack Obama has nominated Dartmouth College President Jim Yong Kim to head the World Bank.
23 Mar 2012| 3 CommentsBoE's Weale predicts tricky time for UK forecasters
The British economy is likely to grow in the first quarter, avoiding a return to recession, but how the economy will perform during the rest of year is anyone's guess, according to one of the country's most senior economic policymakers.
23 Mar 2012| 1 CommentHow the World Bank differs from the IMF
The World Bank will apppint a new chief today, but how does the organisation differ from that other global financial institution, the IMF? We find out.
23 Mar 2012| 1 CommentBanks urgently need to raise more capital
British banks are still not holding enough capital to protect them against further shocks and must take action "as early as feasible" to raise funds, the Bank of England has warned.
23 Mar 2012| 139 CommentsPortugal's town hall pain
The Eurozone crisis, Goldman Sachs on India and the week ahead.
23 Mar 2012| 1 CommentRating agencies found to be falling short
Credit rating agencies Moody's, S&P and Fitch have been told to improve internal processes or face possible enforcement from the European Securities and Markets Authority.
22 Mar 2012| 18 CommentsGeorge Osborne is still not being bold enough with the Budget
The Chancellor’s slow-motion cuts are dragging out the austerity process, says Fraser Nelson.
22 Mar 2012| 278 CommentsMarkets hit as eurozone and China contract
Stock markets fell sharply amid signs that the German and French economies are stalling and Chinese manufacturing contracted for the fifth month in a row.
22 Mar 2012| CommentIreland slumps back into recession
Ireland tumbled back into recession at the end of last year, dousing political claims that the "Celtic Tiger" has benefited from its tough austerity programme.
22 Mar 2012| 163 CommentsMarkets fall as manufacturing contracts
Wall Street opened lower as global stock markets took fright as weak manufacturing data from Europe and China overshadowed more positive data about the domestic US jobs market.
22 Mar 2012| 6 CommentsCountries in recession
In pictures: the nations suffering with continued economic contraction.
22 Mar 2012| 9 CommentsIreland slumps back into recession
Ireland's economy sank back into recession in late 2011, despite logging its first annual growth for four years, official data has showed.
22 Mar 2012| 65 CommentsIreland's euro debt talks
Top stories: China slows, Budget winners, the Euro crisis and Next.
22 Mar 2012| 2 CommentsWhat the papers say about the Budget
More pain than gain, an "audacious gamble" and "Gran Theft Auto". Here's what the papers have been saying about this year's Budget.
22 Mar 2012| 33 CommentsThreat of double dip reduced, says OBR
Britain should escape a double-dip recession this year, according to the UK's official forecaster. But economists warned it would take little to derail the Chancellor's plans.
21 Mar 2012| 7 Comments'Eurozone threat to UK economy'
Telegraph's Economics columnist Roger Bootle on the economic impact of the Chancellor's Budget speech.
21 Mar 2012| 17 Comments'Some pensioners will be worse off in Budget'
Tax Director Mike Warburton on the impact of the Chancellor's Budget on personal finance
21 Mar 2012| 6 CommentsBudget reaction: coalition will survive
Telegraph Assistant Editor on the political nature of the Chancellor's speech
21 Mar 2012| Comment'Budget no revolution for business'
The Telegraph's head of business on the impact of the Budget on business.
21 Mar 2012| 1 CommentOsborne: Let's keep Wallace and Gromit in UK
In his Budget, Chancellor George Osborne announces that he will introduce tax breaks for animation and TV production industries.
21 Mar 2012| 4 Comments
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CambridgeCarrie
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Queens Kitchen Is Base for Cooks Starting Businesses
“Wouldn't it be cool to have something like this in Cambridge? - http://nyti.ms/hNqAs7 - check out @cambridgekitch http://www.cambridgecommunitykitchen.org/”
Yes I could rent studio space.I would rather rent it out than pay rent.I have no desire to be in the food business.I will grow vegetables and sell them to people.I will warrant nothing about them but where they were grown and what I put on them.
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rickburnes
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U.S.
The 29,000-square-foot Five Star Island house in Miami Beach was rented out by Ernesto Bertarelli for his wife Kirsty's 40th birthday party. Although such rentals are illegal, the law is often ignored.I hope the owners made money on the deal.It is nothing I want to get near.
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JulieBouman
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Get a Daily Dose of Green Space - Personal Health
“Get a Daily Dose of Green Space, Get outside in the #Adirondacks = Feel better - http://nyti.ms/fXlhww”These days I have to pick carefully. I have made no plan as yet.
If I can arrange some time before Memorial Day I will drive to Chatham Ma. and spend some time with Monomoy. I must find out the rules.
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SuzieLin
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Condé Nast to Anchor 1 World Trade Center
“Condé Nast to Anchor 1 World Trade Center - http://nyti.ms/mU6Qnl”This seems to be the most recent article in the Times.http://en.wikipedia.org/wiki/One_World_Trade_CenterDiscussion is current.
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Ivan Lajara
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In New Programs, Students Confront Disasters That Marked Their Childhoods
“SUNY @newpaltz Emergency management program featured on @nytimes - http://nyti.ms/krPxS9”
I would like to learn your opinions on the work noted here.
LISA W. FODERARO seems not to have done a competent job of reporting.
The comments are not enlightening.
Emergency management falls into several broad areas.
Development planning and enforcement. Flood plains, road placement and drainage, building permits and building codes, migration easements, habitat and water protection, evacuation planning. These are difficult. Very active political interests see personal advantages in their nullification.
Disaster response planning, preparation and execution.Resources sequestered against uncertain need can be viewed as "fat" in need of trimming or as opportunity for the corrupt.Cooperation and good will cannot be expected even under disaster conditions."When the time comes to hang the capitalists there will be a businessman to sell us the rope." V. I. Lenin
Disaster recovery. "The way it was." did not work. How it should be different and how it can be different are not the same. Encourage the long view. There will be no dearth of work.One is a very silly number but not as silly as two.
The article centers on a single aspect of disaster recovery.
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