HSBC Paves a Path in Loan Crisis, The Wall Street Journal – was one of the first big banks to signal a subprime-mortgage meltdown. Now, the bank’s struggles show the next stage of the crisis: aiding borrowers.
Realogy Now on Endangered List UrbanDigs.com
Realogy’s bonds are tumbling, as the company reported about $200Mil in losses over the past 3 quarters. The company is now trying to exchange around $1.1Bln in existing bonds at a discount for new notes, to stave off a potential default. If they are not successful, they could be in violation of the loan’s covenants under the senior secured credit facility.
Group to sue Bulova developers; project stagnates The Southampton Press
Last Updated Nov 19, 08 12:58 PM
The Federal Emergency Management Agency’s new preliminary flood insurance rate maps for Suffolk County show far fewer houses in the floodplain than when the last maps were completed in 1983—but Southampton Town’s stormwater manager is concerned that they do not take all of the potential flood areas into account
A builder who finished framing a massive house in the Water Mill hills last winter without a building permit may be able to proceed with work if he tears down a portion of the house.
Rumors of Joe Farrell’s demise greatly exaggerated
By Jennifer Landes, The East Hampton Star
Those who would like to think that Joe Farrell, the house builder for celebrities, politicians, and hedge-fund wunderkinds, is doing poorly will have to wait for a different downturn. Indeed, the bills are stacked up on his desk, but they all have checks attached to them, waiting for his signature.