Archive for October, 2009
Slump Hits Howard Hughes’s Heirs
October 22nd, 2009 | 
Author: By KRIS HUDSON
Reclusive billionaire Howard Hughes was an only child, dying in 1976 with no will or children.
Mr. Hughes’s estate now has more than 1,000 heirs and beneficiaries who are hoping for one last, big payout from a swath of Las Vegas land bought by the tycoon in the 1940s to establish an inland base for his aerospace operations.
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Housing sales slump forces Land Registry to cut 1,500 jobs
Major restructuring to save £500m over five years will also mean closing five local offices
The Land Registry has announced a major reorganisation in which it will cut one-quarter of its 6,000 staff and close five local offices in an attempt to save almost £500m over the next five years.
Gateshead council to undertake £200m of housing improvements
Firms interested in four-year deal to improve 400 homes must tender before 24 November
Gateshead council is tendering for up to £200m worth of work on its Housing Market Renewal programme to regeneration rundown areas of the Tyneside city.
Radar-invisible turbine could blow away wind farm objectors
QinetiQ/Vestas ’stealth’ turbine is hoped to remove a major planning barrier to wind power developments
Technology consultant QinetiQ and manufacturer Vestas Wind Systems have developed a “stealth” wind turbine that reduces interference with radar systems and could remove one of the major barriers to the development of wind farms.
Government to pay for home energy makeovers
Up to 90,000 low-income homes will benefit from energy efficiency measures in plan to curb fuel poverty
The government is to provide energy makeovers to homes in poor areas as part of a four-step plan to curb fuel poverty.
Commercial Market Gains Footing
By WILLIAM BOSTON | SPECIAL TO THE WSJ
The increase in European commercial-property sales, which was evident in the third quarter, is picking up steam. But the market still has a long way to go before it reaches a semblance of normalcy.
MGM Mirage to Take Write-Downs
By ALEXANDRA BERZON
MGM Mirage’s biggest shareholder, Kirk Kerkorian, Tuesday said he is exploring alternatives to his investment in the company on the same day the casino giant announced a $955 million write-down on the value of its City Center construction project.
Morgan and Waning Crescent
By LINGLING WEI
Morgan Stanley may decide to take its final lumps on its unsuccessful $6.5 billion acquisition of Crescent Real Estate Equities Co., the latest of several setbacks for the firm known as one of Wall Street’s largest property investors and managers.