_Economy and Finance

http://geology.com/usgs/uses-of-copper/ Facts About Copper Copper Uses, Resources, Supply, Demand and Production Information Republished from a USGS Fact Sheet from June, 2009 Copper - A Metal Used Through The Ages Copper was one of the first metals ever extracted and used by humans, and it has made vital contributions to sustaining and improving society since the dawn of civilization. Copper was first used in coins and ornaments starting about 8000 B.C., and at about 5500 B.C., copper tools helped civilization emerge from the Stone Age. The discovery that copper alloyed with tin produces bronze marked the beginning of the Bronze Age at about 3000 B.C.

George Comfort blames Deutsche Bank for botched Worldwide Plaza deal June 24, 2009 02:58PM http://therealdeal.com/blog/2009/06/24/george-comfort-blames-deutsche-bank-botched-worldwide-plaza-deal-harry-macklowe-rcg-longview-peter-duncan/ George Comfort & Sons President Peter Duncan blamed lender Deutsche Bank for the breakdown in a deal to buy the former Macklowe Properties Worldwide Plaza west of Times Square. The real estate firm and investment partner RCG Longview were “disappointed that the seller, Deutsche Bank AG, has decided not to honor the contract,” Duncan said in a statement. The companies were in contract to purchase the 1.8 million-square-foot office tower at 825 Eighth Avenue between 49th and 50th streets after the bank took it back from Macklowe Properties. Duncan held out hope the deal could still be finalized. “We have an executed sales contract, a significant hard deposit in place, and even a closing date of June 30th from the seller’s attorneys. We are ready ...

Worldwide Plaza deal in trouble June 23, 2009 02:00 PM Real estate sources say a deal to sell Worldwide Plaza — one of the seven office towers Harry Macklowe was forced to return to his lenders — has fallen apart. This is the second time a deal to sell the building has fallen through, and both instances involved George Comfort & Sons as the buyer. In the latest transaction to break down, George Comfort and real estate investment firm RCG Longview struck a deal to purchase the 47-story tower for an undisclosed sum earlier this month. Deutsche Bank, which controls the building, would have retained a stake and provided financing for the deal. Sources say Deutsche Bank killed the transaction. According to the Wall Street Journal, the building is on the market again. http://therealdeal.com/blog/2009/06/23/worldwide-plaza-deal-in-trouble/

COMFORT SCORES WORLDWIDE DEAL By LOIS WEISS Last Updated: 5:31 PM, June 10, 2009 Posted: 2:17 AM, June 5, 2009 In what will be the city's largest office transaction this year, Worldwide Plaza is in contract to be sold to a joint venture led by George Comfort & Sons that includes RCG Longview and the building's lender, Deutsche Bank. http://www.nypost.com/p/news/business/item_mgaWEstKJCzUgj9xAJSbdO

http://www.rreef.com/ Global Commercial Real Estate Debt: Deleveraging into Distress Executive Summary The quantity of distressed commercial real estate (CRE) will continue to increase globally as the deleveraging process unfolds over the coming years. Implosion of the global financing market coupled with the economic recession has increased stress on both properties and their owners. Seizure of the commercial mortgage backed securities (CMBS) market is increasing the demand of properties needing to refinance but the dislocated financing market is limiting the supply of new loans available.

Worldwide Plaza for sale May 27, 2009 09:00 AM Worldwide Plaza, the last piece of Macklowe Properties’ portfolio, is for sale. The lender in control of the 1.7 million-square-foot building, Deutsche Bank, wants to retain an ownership stake, but is also prepared to write down the current $1.02 billion in outstanding principal to an $800 million mortgage. The buyer of the building at 825 Eighth Avenue, at 50th Street, is expected to contribute $200 million in equity, and the deal would be valued between $300 and $350 per foot. The leading potential buyer, according to the Post, is George Comfort & Sons. According to CoStar Group, 639,540 square feet is available in the building. http://therealdeal.com/blog/2009/05/27/worldwide-plaza-for-sale-macklowe-deutsche-bank/

IGD Siiq opens new mall in Catania Date: 4 May 2009 Category: City Watch Italy's IGD Siiq said on Monday that its Katanè shopping centre will open its doors on Tuesday in the Sicilian city of Gravina, near Catania. The mall, with a total of 15,000 m2, houses 70 stores and six larger shops and an 8,000 m2 hypermarket owned by Ipercoop Sicilia. IGD invested a total of EUR 59 mln in the project. The mall is fully rented. http://www.propertyeu.info/index-newsletter/igd-siiq-opens-new-mall-in-catania/