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The estimated cost of the Troubled Asset Relief Program (TARP) keeps falling, according to the nonpartisan Congressional Budget Office (CBO).   The latest estimate is that TARP will cost the taxpayers just $25 billion – significantly less than the $700 billion allocated for the financial bailout in the fall of 2008.  The CBO’s last estimate – […]

The annual ritual of heading to the local Christmas tree lot or cut-it-down-yourself farm is giving way to the age of the internet and online buying.   Even Rick Dungey, a spokesman for the National Christmas Tree Association, has joined the trend, saying “I point and click and it shows up on my front door.  For […]

The Pontiac – renowned for its muscle cars in the 1960s and 1970s – recently ended its 84-year run when General Motors (GM) pulled the plug on the once-iconic brand.  Pontiacs – which peaked at nearly one million sales a year in 1968 – came to an end due to a combination of bad corporate […]

Against its will, Ireland is now in a state of receivership mandated by the European Union (EU) and the International Monetary Fund (IMF) in an effort to resolve the Emerald Isle’s debt crisis.   European central bankers have paid £111 billion into Ireland’s banks to prevent damage to the euro in what is being jokingly referred […]

Sloppy foreclosure paperwork could upset the nation’s housing market and destabilize the economy in general,  according to a report released by the Congressional Oversight Panel.  This group oversees the government bailout and its statement marks the first time a federal watchdog has issued an opinion on the foreclosure issue.  Consumer advocates and financial analysts had […]

The Securities & Exchange Commission (SEC) is advising banks to divulge their anticipated losses from bad foreclosure documents. Lenders are required to divulge conditions where they “reasonably expect” to have an “unfavorable impact” on financial results, according to a letter posted by the SEC on their website.  SEC posted the letter as a response to […]

One of the biggest albums of the year is “The Suburbs” by the Canadian group, Arcade Fire, which exposes the dark side of urban sprawl.  The band, fronted by the husband and wife duo of Win Butler and Régine Chassagne have created a concept album as emblematic of our generation as The Wall was for […]

The Federal Reserve is going to subject the nation’s 19 largest banks to a new round of stress tests to determine if they are healthy enough to pay dividends to their shareholders again.   The Fed plans to use a conservative approach, applied with an even hand, on the nation’s largest and most complex banks.  The […]

Because Chicago is home to approximately 80 wind companies, including corporate headquarters and turbine factories, the city is seen as a hub for the wind industry.   With plenty of farmland suited to wind turbines, Illinois has a law mandating that the state gets at least 18 percent of its electricity from wind by 2025.  Unfortunately, […]

With the Patient Protection and Affordable Care Act now the law of the land, commercial real estate executives are waiting to see what impact the legislation will have on their business.   Consensus is that the new healthcare law changes crucial demand drivers for real estate by introducing alternative models to deliver medical services.  The potential […]