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VANCOUVER - ski resort giant Intrawest ULC may default on a US $1.4 billion loan and is in talks with lenders about debt repayment options. Intrawest may be pushed closer to default if it fails to make a US$524 million payment due Wednesday. The Vancouver-based company which operates some 2010 Winter Olympics venues in British Columbia, is owned by private equity firm Fortress Investment Group LLC of New York. Fortress scrambled to refinance the loan after Intrawest, which holds the debt, was pushed to the brink of creditor protection. In November Intrawest said it agreed to sell one of its...

Iowans affected by lender linked to EdwardsWhile he worked for an equity company that dealt in mortgages, those lenders foreclosed on 107 homes in the state. He says his anti-poverty stance isn't affected. By THOMAS BEAUMONT REGISTER STAFF WRITER September 27, 2007 A total of 107 Iowa homeowners were foreclosed upon by subprime mortgage companies owned by Fortress Investment Group while Democratic presidential candidate John Edwards was associated with the equity company, court records show. Fortress foreclosures have occurred in other states, but the Iowa cases bring Edwards' tie to subprime lending to the leadoff presidential nominating state, where he...

Embarrassed presidential hopeful John Edwards promised yesterday to take millions of dollars of his own fortune out of a hedge fund tied to subprime lenders who foreclosed on victims of Hurricane Katrina. The populist candidate - who has denounced such lenders - invested $16 million of his $30 million in assets in Fortress Investment Group. The Wall Street Journal reported that 34 New Orleans homeowners struggling to overcome Katrina's aftermath faced foreclosure suits from subprime-lending units of Fortress. Yesterday, the red-faced Democratic candidate vowed to remove from his portfolio any Fortress funds that have a stake in those lender units....

There are two Americas -- and John Edwards is fighting as hard as he can to keep it that way. Gotta keep the riff-raff down, you know. God Bless 'im. "...Democratic presidential contender John Edwards has investing ties to subprime lenders who are foreclosing on victims of Katrina, according to a report published Friday. The Wall Street Journal said there are 34 homes in New Orleans that face foreclosure from the subprime unit of Fortress Investment Group. Edwards has about $16 million in Fortress (Charts), a hedge fund and private equity manager, the newspaper said. Edwards, the former senator from...

Two years ago, former senator John Edwards of North Carolina, gearing up for his second run at the Democratic presidential nomination, gave a speech decrying the "two different economies in this country: one for wealthy insiders and then one for everybody else." Four months later, he began working for the kind of firm that to many Wall Street critics embodies the economy of wealthy insiders -- a hedge fund. Edwards became a consultant for Fortress Investment Group, a New York-based firm known mainly for its hedge funds, just as the funds were gaining prominence in the financial world ... run...

LONDON (CNNMoney.com) -- Democratic presidential contender John Edwards has investing ties to subprime lenders who are foreclosing on victims of Katrina, according to a report published Friday. The Wall Street Journal said there are 34 homes in New Orleans that face foreclosure from the subprime unit of Fortress Investment Group. Edwards has about $16 million in Fortress (Charts), a hedge fund and private equity manager, the newspaper said. Democratic presidential contender John Edwards has investing ties to subprime lenders. Edwards, the former senator from North Carolina, has been a vocal critic of subprime lenders and told the Journal that he...

Democrat John Edwards said Tuesday that he worked for a hedge fund between presidential campaigns to learn about financial markets and their relationship to poverty—and to make money too. In an interview with The Associated Press, the former North Carolina senator said his yearlong, part-time position with Fortress Investment Group helped his understanding of the connection but he has more to learn. Edwards has made eradicating poverty a focus of his second White House bid. Edwards, a multimillionaire after years as a trial lawyer, would not disclose how much he got paid for a year of consulting beginning in October...