Free Republic

The Looming Crisis in Commercial Real Estate By Michael Weisskopf The bailout may be coming to your local mall. The credit crunch has thus far focused on the residential mortgage mess. But with $1.3 trillion in loans to shopping centers and other commercial properties coming due between now and 2013, another time bomb is ticking. In a report scheduled for release on Wednesday, Deutsche Bank estimates that at least half the loans — and two-thirds of those packaged and resold as securities — will not qualify for refinancing. As a result, many borrowers will likely default, leading to losses on...

  Army honors Time Magazine reporter By Sgt. Lorie Jewell Michael Weisskopf, a senior correspondent with Time Magazine, accepts the Fourth Estate Award from Brig. Gen. Robert Gaylord, chief of Army Public Affairs. Weisskopf was honored at an Aug. 17 reception in the Fort McNair Officer's Club and the U.S. Army Band's Overture 1812 concert on the National Mall for his coverage of Soldiers serving in Iraq. Weisskopf lost his right hand in a grenade attack on a Humvee he was riding in while on patrol with Soldiers.Sgt. Lorie Jewell WASHINGTON, D.C. (Army News Service, Aug. 19, 2004) – Before...

2 Time Magazine Journalists Hurt in Iraq BAGHDAD, Iraq - A senior reporter and a veteran photographer for Time magazine were wounded along with two U.S. soldiers when a grenade was tossed into their Humvee, the military and the magazine said Thursday. Time senior correspondent Michael Weisskopf and contributing photographer James Nachtwey were traveling with a U.S. Army patrol in Baghdad on Wednesday night when the attack occurred, a statement from Time managing editor Jim Kelley said. A military spokesman said they were with a unit of the Army's 1st Armored Division. The military official, who spoke only condition of...