May. 11th, 2012

the_archfiend: (Default)
Free clue to JP Morgan Chase: Effectively pissing away a minimum of $2 billion on bad hedge bets may not be the way to reassure Congress (or the President, or anyone else) that previously deregulation of the banking industry was particularly bright.

Other free clue: my (admitted) layman guess is that Glass-Steagall would've probably prevented - or at least limited - this latest debacle. It's unfortunate that it's no longer on the books. Very unfortunate, IMHO.   
the_archfiend: (Default)
Done. And it took a mere 5-plus years to resolve this mess.

The Purple Hotel property was sold for $8.3 million in an auction Friday, paving the way for the long-stalled Lincolnwood development site to move forward.

North Capital Group and Weiss Properties Inc., both of Skokie, won the bidding on the 8½-acre site in an auction conducted at the Westin Chicago River North by New York-based Sheldon Good & Co., the auction company confirmed.

Erez Baver, North Capital's president, has said the group wants to do a mixed-use redevelopment of the high-traffic site at Touhy and Lincoln avenues.

The $20 million redevelopment plan would include a boutique hotel with banquet and meeting space, plus 40,000 to 60,000 square feet of retail space, he has said. Mr. Baver could not immediately be reached for comment Friday.

the_archfiend: (Default)
It must feel odd to the Koch brothers that their wholly-owned little Governor of Wisconsin is so incapable of keeping his mouth shut about tactics like a good employee should.

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