Ghost malls, Bill Cosby is wrong, Canada’s foresight, High Line Park video, more
Hayley Richardson | Fri, Jan 11th, 2008 | Category: Headlines | Tags: hayley richardson, eminent domain, ghost malls, high line park, bill cosby, drew carey, canada's foresight
Check this out: Drew Carey (who knew?) examines eminent domain abuse in Los Angeles:
“The retail real estate market has already started to slow. In the third quarter of 2007, 7.4 percent of retail space nationwide was vacant, according to Reis Inc. A vacancy rate of 7.4 percent isn’t tragic by any means. But it’s the highest level since 2002, and it’s up from 6.8 percent at the end of 2005. The third quarter of 2007 marked “the tenth consecutive quarter of flat or deteriorating retail occupancy at the national level,” noted Sam Chandan, chief economist at Reis Inc., in a recent report.”
On Bling (Or Why Minorities Love Conspicuous Consumption)
“Economists Kerwin Charles, Erik Hurst, and Nikolai Roussanov have taken up this rather sensitive question in a recent unpublished study, “Conspicuous Consumption and Race.” Using data from the Consumer Expenditure Survey for 1986-2002, they find that blacks and Hispanics indeed spend more than whites with comparable incomes on what the authors classify as “visible goods” (clothes, cars, and jewelry). A lot more, in fact—up to an additional 30 percent of their annual income. The authors provide evidence, however, that this is not because of some inherent weakness on the part of blacks and Hispanics. The disparity, they suggest, is related to the way that all people—black, Hispanic, and white—strive for social status within their respective communities.”
“Amtrak officials and union negotiators for its employees expect to return to the bargaining table next week, but Long Island Rail Road President Helena Williams said she still has to prepare for the worst: a strike that would mean a total shutdown of Penn Station on Jan. 30 and hobble the commutes of an estimated 85,000 rush-hour riders.”
High Speed Rail Plans for Canada
“Ontario and Quebec are reviving old plans to run high-speed trains between Quebec City and Windsor, Ont., the premiers of both provinces announced Thursday. Dalton McGuinty of Ontario and Jean Charest of Quebec said they will spend $2 million to study the project and expect to have a report ready in a year. It will focus on the development of a high-speed rail system linking major cities such as Toronto, Ottawa and Montreal.”
Immigration and the Lower East Side
Readers are encouraged to submit their questions for Steve Long, Vice President of Collections at the Lower East Side Tenement Museum.
Be sure to also check out this video about building the High Line Park in the Chelsea section of Manhattan.
