Westfield Group, which, remember, managed the mall under the World Trade Center, has announced plans to invest $625 million in lower Manhattan. The New York/New Jersey Port Authority will invest $825 million in the project as well. ...
In a very positive sign that the credit crunch may be easing, the volume of asset-backed commercial paper grew after declining for 20 straight weeks. Companies issue asset-backed commercial paper to fund short-term operations. The market slowed...
Retailer Talbots Inc. said Friday it will close its kids' and mens' concepts by September as part of a bid to focus more on its core customer -- women who are 35 years old or older. Talbots said it will close 78 stores as a result of the decision...
Here's a clip from Bloomberg TV where they say that Centro has been approached by Morgan Stanley and Westfield about a buyout. Another Bloomberg report identifies Blackstone and Citadel as possible suitors.
There's some good news on the Centro front. The company says it has been receiving offers--both for parts and all of the company--so now the firm is officially "seeking expressions of interest for key alternatives." The New York Times also...
The Washington Post has a good piece up on the continuing retrenchment affecting private equity players. The subprime fallout stopped the private equity tsunami in its tracks midway through 2007 and things don't seem any closer to opening up now...
