_Economy and Finance

At long last, World Wide Plaza hits the market August 28, 2012 10:30 AM Worldwide Plaza, the behemoth office building located at 825 Eighth Avenue, will go up for auction, the New York Observer reported. The owners of the 59-story tower, George Comfort & Sons and RGC Longview, first tapped Eastdil Secured to market the building in May. After failing to secure an off-market bid they were happy with, Adam Spies and Doug Harmon of Eastdil told the Observer they were ready to head to auction with 1.8-million-square-foot tower. The current owners nabbed the building for about $600 million in 2009, and the sale price for the building now is expected to be at least twice that, the Observer said. [NYO] http://therealdeal.com/blog/2012/08/28/at-long-last-world-wide-plaza-hits-the-market/

Europe is already in recession. Germany is still growing very, very slightly, but is likely to go into recession soon. The U.S. economy has decelerated and I don't see much growth in the next six to 12 months. ... I think that if you look at the injection of liquidity and the intervention by the Federal Reserve and the Treasury with fiscal measures, it has already impoverished the U.S. economy. - Marc Faber (1946- ), CNBC, 2012.08.23

Docklands pulls its weight August 20, 2012 Philip Hopkins DOCKLANDS, which is 48 per cent complete, has shifted the geographical heart of the Melbourne CBD to the west and is now the second-largest office precinct for prime-grade stock in the CBD. http://www.smh.com.au/business/property/docklands-pulls-its-weight-20120819-24gge.html#ixzz243o9lUuN

http://www.mysanantonio.com/news/local_news/article/Permian-Basin-Booming-Again-3781623.php#photo-3314867 Three decades after oil bust, Permian Basin booms again BY JOHN MACCORMACK : AUGUST 11, 2012 MIDLAND – Nearly three decades ago, Texas Monthly ran a post mortem on the Texas oil industry with headline reading “So long, it was fun while it lasted,” and a forlorn James Dean figure hitchhiking out of town.

http://seekingalpha.com/ The Mississippian Lime: America's Next Big Resource Play By Braden Holt There's no doubt that shale plays are sexy in the oil and gas realm these days, but prudent investors know all that really matters is return on investment. Valuations are high in South Texas' Eagle Ford Shale, where private equity firm Kohlberg, Kravis, Roberts & Co (KKR) recently agreed to pay $25k per acre in a participation agreement for up to 1/3 of Comstock Resources' (CRK) undeveloped Eagle Ford acreage. In North Dakota's Bakken Shale, Bakken pure-play Kodiak Oil & Gas (KOG) paid $11,800 per acre in a deal late last year with two private companies. If investors are looking for a value play, they should turn their heads to the Mississippian Lime, where acquisition prices averaged $3,284 per acre1 during the past year.

Docklands nears 20% of Melbourne’s Prime Market MELBOURNE, 8 August 2012 - The Docklands precinct is now larger than Melbourne’s Eastern Core and is the second largest office precinct for prime grade stock in the Melbourne CBD. According to Jones Lang LaSalle Research, Melbourne’s CBD office market is 4.27 million square meters of which 2.44 million square meters are prime grade. http://www.joneslanglasalle.com/Pages/NewsItem.aspx?ItemID=25855

http://wiki.fool.com/ How to Calculate Net Revenue Interest for Oil & Gas Original post by D. Laverne O'Neal of Demand Media Net revenue interest is defined as a share of oil or gas production that is calculated after deducting any burdens from the working interest. For example, an oil well typically has a mineral rights owner and an overriding royalty owner. These owners receive a flat percentage "off the top," so to speak, of the well proceeds. The remaining owners are known as working interest owners. Each owns a working interest percentage of the well proceeds. Each must calculate her net revenue interest in production.