industryterm:real estate

  • How We Investigated the New York Taxi Medallion Bubble - The New York Times
    https://www.nytimes.com/2019/05/22/reader-center/taxi-medallion-investigation.html

    It took a year, 450 interviews and a database built from scratch to answer a simple question: Why had anyone ever agreed to pay $1 million for the right to drive a yellow cab?

    By Brian M. Rosenthal
    May 22, 2019

    Times Insider explains who we are and what we do, and delivers behind-the-scenes insights into how our journalism comes together.

    The story started, like a lot of stories seem to, with President Trump’s former lawyer, Michael D. Cohen.

    On April 9, 2018, the F.B.I. raided Mr. Cohen’s office, thrusting him into the national spotlight. The next day, the top editors at The New York Times asked five reporters to start working on a profile. I was one of them.

    The other reporters researched Mr. Cohen’s family, his legal career, his real estate interests and, of course, his work for the president. I took on the last piece of his business empire: his ownership of 30 New York taxi medallions, the coveted permits needed to own a yellow cab.

    After a few weeks of reporting, the team learned enough to publish our story on Mr. Cohen. And I discovered enough to know what I wanted to investigate next.

    At that time, the taxi industry was becoming a big story. Mr. Cohen had owned his medallions as an investment, counting on them rising in value because of the city’s decision to issue only about 13,000 permits. But thousands of the medallions were owned by drivers themselves, and two driver-owners had just died by suicide. Public officials were talking about how the price of a medallion had plummeted from over $1 million to under $150,000. Most were blaming ride-hailing companies such as Uber and Lyft.

    I had a different question: Why had anybody ever paid $1 million for the right to the grueling job of being a cabby?

    When I pursue an investigation, I identify the single most important question that I am trying to answer, and orient all of my reporting around it. (For example, why did it cost more to build subway track in New York than anywhere else in the world? Or why did Texas have the lowest special education rate in the country?) In this case, I ended up interviewing about 450 people, and I asked almost all the same question: Why did the price reach $1 million? It became my North Star.

    I heard plenty of theories, but I began to get somewhere only when I had an epiphany: No driver-owner had ever really paid close to $1 million for a medallion. On paper, thousands of low-income immigrants had. But while they had poured their life savings into their purchase, virtually all had signed loans for most of the cost — and never really had a chance to repay.

    I needed to examine as many loans as possible, to see if they were as unusual and reckless — and predatory — as some of my sources said they were. But how?

    I got a lead from an unexpected source: the lenders themselves.

    After prices had started crashing, the lenders in the industry had tried to squeeze money out of borrowers. Many of them had filed lawsuits against borrowers — lawsuits which had to include copies of the loans.

    I ultimately reviewed 500 of these loans, and I saw disturbing patterns: Almost none of them included a large down payment. Almost all of them required the borrower to repay everything within three years, which was impossible. There were a lot of interest-only loans, and a wide variety of fees, including charges for paying loans off too early. Many of the loans required borrowers to sign away their legal rights.

    Armed with the loan documents, I started calling dozens of current and former industry bankers, brokers, lawyers and investors. Some pointed me to disclosures that lenders had filed with the government, which were enormously helpful. Others shared internal records, which were even better.

    New York City did not have reliable digital data on medallion sales, so I used paper records to build a database of all the 10,888 sales between 1995 and 2018. The city taxi commission had never analyzed the financial records submitted by medallion buyers, so I did. Nobody knew how many medallion owners had gone bankrupt because of the crisis, so I convinced my boss to pay a technology company, Epiq, to create a program that sped through court records and spat out a tentative list — and then two news assistants helped me verify every result.

    As I dug into the data and the documents, I sought out driver-owners. I wanted to understand what they had been through. To find them, I went to Kennedy International Airport.

    The fare from taking someone from the airport into Manhattan can make a cabby’s day, and so drivers wait in line for hours. And over several visits during a couple of months, I waited with them, striking up conversations outside a food stand run by a Greek family and next to pay phones that had stopped working years ago. After talking briefly, I asked if I could visit their homes and meet their friends.

    In all, I met 200 taxi drivers, including several I interviewed through translators because they did not speak English fluently. (Some of those men still had signed loans of up to $1 million.) One by one, they told me how they had come to New York seeking the American dream, worked hard and gotten trapped in loans they did not understand, which often made them give up almost all of their monthly income. Several said that after the medallion bubble burst, wiping out their savings and their futures, they had contemplated suicide. One said he had already attempted it.

    The day after we began publishing our findings, city officials announced they were exploring ways to help these driver-owners, and the mayor and state attorney general said they were going to investigate the people who channeled them into the loans.

    In the end, the three front-page stories that we published this week about the taxi industry barely mentioned Mr. Cohen at all.

    But they did something much more important: They told the stories of Mohammed Hoque, of Jean Demosthenes and of Wael Ghobrayal.

    Brian M. Rosenthal is an investigative reporter on the Metro Desk. Previously, he covered state government for the Houston Chronicle and for The Seattle Times. @brianmrosenthal

    #USA #New_York #Taxi #Betrug #Ausbeutung

  • In Baltimore and Beyond, a Stolen N.S.A. Tool Wreaks Havoc
    https://www.nytimes.com/2019/05/25/us/nsa-hacking-tool-baltimore.html

    For nearly three weeks, Baltimore has struggled with a cyberattack by digital extortionists that has frozen thousands of computers, shut down email and disrupted real estate sales, water bills, health alerts and many other services.

    But here is what frustrated city employees and residents do not know: A key component of the malware that cybercriminals used in the attack was developed at taxpayer expense a short drive down the Baltimore-Washington Parkway at the National Security Agency, according to security experts briefed on the case.

    Since 2017, when the N.S.A. lost control of the tool, EternalBlue, it has been picked up by state hackers in North Korea, Russia and, more recently, China, to cut a path of destruction around the world, leaving billions of dollars in damage. But over the past year, the cyberweapon has boomeranged back and is now showing up in the N.S.A.’s own backyard.

    #boomerang

  • AR and VR Applications in Healthcare, Education, and eCommerce
    https://hackernoon.com/how-ar-and-vr-technologies-transforming-enterprises-43f44784353e?source=

    AR and VR Technologies Transforming EnterprisesAR and VR are the most trending technologies of the running era.One of the biggest benefits in a VR and AR-enabled environment is the ability to innovate your products and services in a completely new way. Many industries and business sectors are taking advantage of these technologies such as — healthcare, education, e-commerce, manufacturing, etc.Both virtual reality (VR) and augmented reality (AR) combined with AI and ML will create a better future and take your work to an entirely new level. How?As an example, I recently founded eXp Realty a real estate company with a virtual office space built out on the VirBELA platform. With their centralized VR office space, they have around 14,000 agents across all 50 US states, 3 Canadian provinces, (...)

    #mobile-app-development #application-developer #hire-dedicated-programmer #augmented-reality #virtual-reality

  • Sean Lourdes Shares a Vital Hack for #success in Life and #business
    https://hackernoon.com/sean-lourdes-shares-a-vital-hack-for-success-in-life-and-business-35054b

    Behind every successful business is a solid strategy. Every year, companies invest collective hundreds of millions of dollars in professionals who they hope would give them the best strategies for their businesses. They do this because they know that in the predominantly capitalist society of today, brands that don’t compete well die off fast.For Sean Lourdes, a business that starts out without a solid blueprint reduces its chances of thriving in the markets to near zero. In his words “Launching a business without drafting an effective strategy for its survival is similar to going to battle with a fierce enemy without defining techniques for assault”. And Sean is not alone. In the book “The Art of the Deal”, real estate billionaire and United States president, Donald Trump, gave insights on (...)

    #entrepreneurship #lifestyle #success-story

  • 4 Tools to Schedule Google My Business Posts
    https://hackernoon.com/4-tools-to-schedule-google-my-business-posts-593ea05f810?source=rss----3

    Learn how to dominate local #seo through Google My BusinessAre you using Google My Business?For those unfamiliar, Google My Business (not to be confused with Google+) is a free platform that Google created to help businesses manage the search results that show when someone searches your business name. This is where businesses manage the contact information, open hours, reviews, and pictures that show in Google search results.Recently, Google added the ability for business owners to post updates to their Google My Business listing, allowing you to share photos, announce sales or specials, showcase new products, and list upcoming events.These Google My Business posts show up when someone searches your business’s name on Google, giving you an easy way of occupying more real estate in the (...)

    #local-seo #google-my-business #social-media-marketing #google-my-business-setup

  • #top 7 Real Estate #crowdfunding Platforms in 2019
    https://hackernoon.com/top-7-real-estate-crowdfunding-platforms-in-2019-2f1312fe4e19?source=rss

    As we all know capital is still considered one of the biggest barriers when entering real estate investments simply because you haven’t created any value yet to collateralized a loan, it simply doesn’t allow you to borrow any funds as a startup. Luckily for us, real estate crowdfunding platforms have opened its doors towards more opportunity for real estate investments.According to Forbes, real estate crowdfunding continues to be a dynamic and ever-evolving industry, growing to an estimated $3.5 billion in 2016. By 2025, the crowdfunding industry as a whole is anticipated to be valued at more than $300 billion and online real estate marketplaces are primed to capitalize on that explosive growth.So let’s go over on how Crowdfunding works.What is Crowdfunding?Crowdfunding is a way of (...)

    #real-estate #marketing #crowdfunding-platforms

  • Behind China’s Corruption Crackdown: Whistleblowers
    https://www.forbes.com/sites/riskmap/2015/02/12/behind-chinas-corruption-crackdown-whistleblowers/#5e02f2532e89

    By Kent D. Kedl

    SHANGHAI – A top concern for most multinational companies doing business in China the last year has been the Chinese government’s dogged crackdown against corruption. Ask CEOs in China what wakes them at 2 a.m. in a cold sweat and their answer is simple: the dreaded “dawn raid.” What is less widely known is the outsized role that whistleblowers have played. Almost every major fraud or corruption crisis faced by multinational companies in the past year kicked off because of a whistleblower allegation. According to Chinese officials, four out of every five anti-corruption investigations are initiated by whistleblowers. Often these are former and disgruntled employees, suppliers, distributors, consumers, scammers and competitors—some complaints are legitimate, others not.

    Whistleblower complaints in China have historically been an internal matter; any reports were logged with senior management and subject to internal investigations. But there has been a significant trend toward reporting—or threatening to report—directly to Chinese regulators. Whistleblowers are discovering the power of involving regulatory authorities in China to help them achieve their objectives, which range from reporting and rectifying a genuine integrity and governance issue, to extortive attempts to extract monetary or other concessions from management, or simply to take revenge following disputes. In the new, turbo-charged China environment for regulatory oversight, such whistleblowers represent a significant source of risk for multinational corporations.

    Several market dynamics have converged to create this perfect storm of opportunity for whistleblowers in China. They include an uptick in regulatory enforcement, a slowing economy and new pressures on investigators.

    Regulatory oversight and enforcement began to increase in 2013 and shows no sign of down. Regulators that were quite passive in the past will maintain their more active and aggressive stance, and multinationals are on their collective radars. China’s political leadership has provided a mandate for regulator activity and we will continue to see high levels of enforcement, particularly in the key sectors of healthcare, automotive and consumer products, with likely increasing enforcement in energy, telecoms, infrastructure and real estate.

    The slowdown in the Chinese economy means two things. First, companies are not hiring aggressively and employees find it harder to seek alternative employment. Second, companies are restructuring commercial agreements with distributors and suppliers who are feeling the squeeze on their own business. The combined effect is that both employees and third parties have additional incentive to leverage information of potentially unethical or illegal activity. Threatening to blow the whistle to regulatory authorities is an often-successful way for them to retain their positions, even if they are themselves complicit in the activity they are threatening to report.
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    Meanwhile, Chinese regulators are under pressure to deliver results. Pressure to resolve a case with a finding against a foreign company may come from the whistleblower, the media or their own peers; regardless of the legitimacy or accuracy of the claims being made. Within agencies, investigators have additional pressure and targets from their bosses. They will often confront the company with allegations taken verbatim from a whistleblower letter, typically without performing much (if any) due diligence on an allegation’s veracity.

    It often unfolds like this. A company is approached by a mid-level regulator with vague allegations of “impropriety.” The company might be told that “we have information that one of your distributors is taking bribes” and will be asked to investigate itself and report back to the authorities on the findings. The company will not be shown any specific evidence nor will it be given any legal basis for the regulator’s suspicion – but will often be threatened with legal or administrative action if it doesn’t cooperate (fines, loss of license, employee detentions, etc.). In many cases, regulators return the results of a company’s own investigation with additional “guidance” on other areas to examine, until the company presents the desired investigative findings and evidence: this is often what is meant by “cooperating with the authorities.”

    So what can companies do to limit their own risk of a regulatory investigation? It starts with thinking through the processes they use to accept and process whistleblower allegations. Getting ahead of any allegations and proactively correcting any perceived wrongdoing can help to stave off a visit from the regulators. Best practice in China includes four items:

    Understanding the regulators: Nearly every company’s stakeholder map in China has changed drastically in the past two years, so it is critical to take a fresh look at the broad spectrum of regulators against a given business and identify which regulators would be legitimately interested in what parts of the business. For example, a company that relies heavily on third-party distributors to sell to customers will be vulnerable to allegations of bribery and corruption, which would be investigated by local Administration of Industry and Commerce (AIC) offices to investigate. Companies with a fragmented business structure and many sales offices in China may get called out on not paying the proper amount in local taxes, resulting in a State Administration of Tax (SAT) visit. For each type of allegation, a company can identify which regulator might be interested and how active they are in each province where the company operates. From there, a company can begin to understand what the regulators look for and how they operate, and get ahead of any allegations of wrongdoing.
    Create a feedback loop to in-country management: Whistleblower allegations should be handled by a neutral party, not by the operation against whom the allegations are leveled. However, this does not mean a multinational company should keep its China management team in the dark about allegations of wrongdoing in China. In-country managers need basic information in order to monitor the risk of whistleblowers reporting to local regulators. Too often, an office in China will be dealing with a regulator but have no idea that an allegation along similar lines was made to their head office whistleblower hotline a few weeks earlier. Tracking allegations over geography and time is also essential. Companies who log and track the details of whistleblower complaints often see patterns that can be dealt with; ahead of any regulator getting involved.
    Investigate outside the four walls: All whistleblower allegations should be thoroughly investigated; a simple “audit” will not suffice. Looking outside of their own books and records allows companies to trace allegations back to activities of third-parties and other outsiders. Any confirmatory evidence of conflicts of interest or collusion will not be found within a company’s four walls.
    Don’t give in to extortion: Companies that receive an extortive threat to report information to a regulator must resist the temptation to immediately concede to any demands. It may seem like an effective short term solution, but there is a very high risk that it comes back to cause bigger problems in future. It is critical that multinational companies cooperate with Chinese regulators and one’s “attitude” will be important to reaching a conclusion; however, there are many ways to be “cooperative” and companies should consider all scenarios before responding.

    Kent Kedl is the Shanghai-based Managing Director for Greater China and North Asia at Control Risks, the global risk consultancy.

    #Chine #politique #corruption #tireurs_d_alarme

  • The Mystery of the Exiled Billionaire Whistle-Blower - The New York Times
    https://www.nytimes.com/2018/01/10/magazine/the-mystery-of-the-exiled-billionaire-whistleblower.html

    From a penthouse on Central Park, Guo Wengui has exposed a phenomenal web of corruption in China’s ruling elite — if, that is, he’s telling the truth.

    By Lauren Hilgers, Jan. 10, 2018

    阅读简体中文版閱讀繁體中文版

    On a recent Saturday afternoon, an exiled Chinese billionaire named Guo Wengui was holding forth in his New York apartment, sipping tea while an assistant lingered quietly just outside the door, slipping in occasionally to keep Guo’s glass cup perfectly full. The tycoon’s Twitter account had been suspended again — it was the fifth or sixth time, by Guo’s count — and he blamed the Communist Party of China. “It’s not normal!” he said, about this cycle of blocking and reinstating. “But it doesn’t matter. I don’t need anyone.”

    Guo’s New York apartment is a 9,000-square-foot residence along Central Park that he bought for $67.5 million in 2015. He sat in a Victorian-style chair, his back to a pair of west-facing windows, the sunset casting craggy shadows. A black-and-white painting of an angry-looking monkey hung on the wall to Guo’s right, a hat bearing a star-and-wreath Soviet insignia on its head and a cigarette hanging from its lips. Guo had arrived dressed entirely in black, except for two silver stripes on each lapel. “I have the best houses,” he told me. Guo had picked his apartment for its location, its three sprawling balconies and the meticulously tiled floor in the entryway. He has the best apartment in London, he said; the biggest apartment in Hong Kong. His yacht is docked along the Hudson River. He is comfortable and, anyway, Guo likes to say that as a Buddhist, he wants for nothing. If it were down to his own needs alone, he would have kept his profile low. But he has a higher purpose. He is going to save China.

    Guo pitches himself as a former insider, a man who knows the secrets of a government that tightly controls the flow of information. A man who, in 2017, did the unthinkable — tearing open the veil of secrecy that has long surrounded China’s political elite, lobbing accusations about corruption, extramarital affairs and murder plots over Facebook and Twitter. His YouTube videos and tweets have drawn in farmers and shopkeepers, democracy activists, writers and businesspeople. In China, people have been arrested for chatting about Guo online and distributing T-shirts with one of his slogans printed on the front (“This is only the beginning!”). In New York, Guo has split a community of dissidents and democracy activists down the middle. Some support him. Others believe that Guo himself is a government spy.

    Nothing in Guo’s story is as straightforward as he would like it to seem. Guo is 47 years old, or 48, or 49. Although he has captured the attention of publications like The Guardian, The New York Times and The Wall Street Journal, the articles that have run about him have offered only hazy details about his life. This is because his biography varies so widely from one source to the next. Maybe his name isn’t even Guo Wengui. It could be Guo Wugui. There are reports that in Hong Kong, Guo occasionally goes by the name Guo Haoyun.

    When pressed, Guo claims a record of unblemished integrity in his business dealings, both in real estate and in finance (when it comes to his personal life, he strikes a more careful balance between virility and dedication to his family). “I never took a square of land from the government,” he said. “I didn’t take a penny of investment from the banks.” If you accept favors, he said, people will try to exploit your weaknesses. So, Guo claims, he opted to take no money and have no weaknesses.

    Yet when Guo left China in 2014, he fled in anticipation of corruption charges. A former business partner had been detained just days before, and his political patron would be detained a few days afterward. In 2015, articles about corruption in Guo’s business dealings — stories that he claims are largely fabrications — started appearing in the media. He was accused of defrauding business partners and colluding with corrupt officials. To hear Guo tell it, his political and business opponents used a national corruption campaign as a cover for a personal vendetta.

    Whatever prompted Guo to take action, his campaign came during an important year for China’s president, Xi Jinping. In October, the Communist Party of China (C.P.C.) convened its 19th National Congress, a twice-a-decade event that sets the contours of political power for the next five years. The country is in the throes of a far-reaching anti-corruption campaign, and Xi has overseen a crackdown on dissidents and human rights activists while increasing investment in censorship and surveillance. Guo has become a thorn in China’s side at the precise moment the country is working to expand its influence, and its censorship program, overseas.

    In November 2017, the Tiananmen Square activist Wang Dan warned of the growing influence of the C.P.C. on university campuses in the United States. His own attempts to hold “China salons” on college campuses had largely been blocked by the Chinese Students and Scholars Association — a group with ties to China’s government. Around the same time, the academic publisher Springer Nature agreed to block access to hundreds of articles on its Chinese site, cutting off access to articles on Tibet, Taiwan and China’s political elite. Reports emerged last year that China is spending hundreds of thousands of dollars quarterly to purchase ads on Facebook (a service that is blocked within China’s borders). In Australia, concerns about China’s growing influence led to a ban on foreign political donations.

    “That’s why I’m telling the United States they should really be careful,” Guo said. China’s influence is spreading, he says, and he believes his own efforts to change China will have global consequences. “Like in an American movie,” he told me with unflinching self-confidence. “In the last minutes, we will save the world.”

    Propaganda, censorship and rewritten histories have long been specialties of authoritarian nations. The aim, as famously explained by the political philosopher Hannah Arendt, is to confuse: to breed a combination of cynicism and gullibility. Propaganda can leave people in doubt of all news sources, suspicious of their neighbors, picking and choosing at random what pieces of information to believe. Without a political reality grounded in facts, people are left unmoored, building their world on whatever foundation — imaginary or otherwise — they might choose.

    The tight grip that the C.P.C. keeps on information may be nothing new, but China’s leadership has been working hard to update the way it censors and broadcasts. People in China distrusted print and television media long before U.S. politicians started throwing around accusations of “fake news.” In 2016, President Xi Jinping was explicit about the arrangement, informing the country’s media that it should be “surnamed Party.” Likewise, while the West has only recently begun to grapple with government-sponsored commenters on social media, China’s government has been manipulating online conversations for over a decade.

    “They create all kinds of confusion,” said Ha Jin, the National Book Award-winning American novelist born in China’s Liaoning Province, and a vocal supporter of Guo. “You don’t know what information you have and whether it’s right. You don’t know who are the informers, who are the agents.”

    Online, the C.P.C. controls information by blocking websites, monitoring content and employing an army of commenters widely known as the 50-cent party. The name was used as early as 2004, when a municipal government in Hunan Province hired a number of online commenters, offering a stipend of 600 yuan, or about $72. Since then, the 50-cent party has spread. In 2016, researchers from Harvard, Stanford and the University of California-San Diego estimated that these paid commenters generated 448 million social-media comments annually. The posts, researchers found, were conflict averse, cheerleading for the party rather than defending it. Their aim seemed not to be engaging in argument but rather distracting the public and redirecting attention from sensitive issues.

    In early 2017, Guo issued his first salvos against China’s ruling elite through more traditional channels. He contacted a handful of Chinese-language media outlets based in the United States. He gave interviews to the Long Island-based publication Mingjing News and to Voice of America — a live event that was cut short by producers, leading to speculation that V.O.A. had caved to Chinese government pressure. He called The New York Times and spoke with reporters at The Wall Street Journal. It did not take long, however, before the billionaire turned to direct appeals through social media. The accusations he made were explosive — he attacked Wang Qishan, Xi Jinping’s corruption czar, and Meng Jianzhu, the secretary of the Central Political and Legal Affairs Commission, another prominent player in Xi’s anti-corruption campaign. He talked about Wang’s mistresses, his business interests and conflicts within the party.

    In one YouTube video, released on Aug. 4, Guo addressed the tension between Wang and another anti-corruption official named Zhang Huawei. He recounted having dinner with Zhang when “he called Wang Qishan’s secretary and gave him orders,” Guo said. “Think about what Wang had to suffer in silence back then. They slept with the same women, and Zhang knew everything about Wang.” In addition, Guo said, Zhang knew about Wang’s corrupt business dealings. When Zhang Huawei was placed under official investigation in April, Guo claimed, it was a result of a grudge.

    “Everyone in China is a slave,” Guo said in the video. “With the exception of the nobility.”

    To those who believe Guo’s claims, they expose a depth of corruption that would surprise even the most jaded opponent of the C.P.C. “The corruption is on such a scale,” Ha Jin said. “Who could imagine that the czar of anti-corruption would himself be corrupt? It is extraordinary.”

    Retaliation came quickly. A barrage of counteraccusations began pouring out against Guo, most published in the pages of the state-run Chinese media. Warrants for his arrest were issued on charges of corruption, bribery and even rape. China asked Interpol to issue a red notice calling for Guo’s arrest and extradition. He was running out of money, it was reported. In September, Guo recorded a video during which he received what he said was a phone call from his fifth brother: Two of Guo’s former employees had been detained, and their family members were threatening suicide. “My Twitter followers are so important they are like heaven to me,” Guo said. But, he declared, he could not ignore the well-being of his family and his employees. “I cannot finish the show as I had planned,” he said. Later, Guo told his followers in a video that he was planning to divorce his wife, in order to shield her from the backlash against him.

    Guo quickly resumed posting videos and encouraging his followers. His accusations continued to accumulate throughout 2017, and he recently started his own YouTube channel (and has yet to divorce his wife). His YouTube videos are released according to no particular schedule, sometimes several days in a row, some weeks not at all. He has developed a casual, talkative style. In some, Guo is running on a treadmill or still sweating after a workout. He has demonstrated cooking techniques and played with a tiny, fluffy dog, a gift from his daughter. He invites his viewers into a world of luxury and offers them a mix of secrets, gossip and insider knowledge.

    Wang Qishan, Guo has claimed, is hiding the money he secretly earned in the Hainan-based conglomerate HNA Group, a company with an estimated $35 billion worth of investments in the United States. (HNA Group denies any ties to Wang and is suing Guo.) He accused Wang of carrying on an affair with the actress Fan Bingbing. (Fan is reportedly suing Guo for defamation.) He told stories of petty arguments among officials and claimed that Chinese officials sabotaged Malaysia Airlines Flight 370, which disappeared in 2014 en route to Beijing, in order to cover up an organ-harvesting scheme. Most of Guo’s accusations have proved nearly impossible to verify.

    “This guy is just covered in question marks,” said Minxin Pei, a professor at Claremont McKenna who specializes in Chinese governance.

    The questions that cover Guo have posed a problem for both the United States government and the Western journalists who, in trying to write about him, have found themselves buffeted by the currents of propaganda, misinformation and the tight-lipped code of the C.P.C. elite. His claims have also divided a group of exiled dissidents and democracy activists — people who might seem like Guo’s natural allies. For the most part, the democracy activists who flee China have been chased from their country for protesting the government or promoting human rights, not because of corruption charges. They tell stories of personal persecution, not insider tales of bribery, sex and money. And perhaps as a consequence, few exiled activists command as large an audience as Guo. “I will believe him,” Ha Jin said, “until one of his serious accusations is proved to be false.”

    Pei, the professor, warns not to take any of Guo’s accusations at face value. The reaction from the C.P.C. has been so extreme, however, that Pei believes Guo must know something. “He must mean something to the government,” he said. “They must be really bothered by this billionaire.” In May, Chinese officials visited Guo on visas that did not allow them to conduct official business, causing a confrontation with the F.B.I. A few weeks later, according to The Washington Times, China’s calls for Guo’s extradition led to a White House showdown, during which Jeff Sessions threatened to resign if Guo was sent back to China.

    Guo has a history of cultivating relationships with the politically influential, and the trend has continued in New York. He famously bought 5,000 copies of a book by Cherie Blair, Tony Blair’s wife. (“It was to give to my employees,” Guo told me. “I often gave my employees books to read.”) Guo has also cultivated a special relationship with Steve Bannon, whom he says he has met with a handful of times, although the two have no financial relationship. Not long after one of their meetings, Bannon appeared on Breitbart Radio and called China “an enemy of incalculable power.”

    Despite Guo’s high-powered supporters and his army of online followers, one important mark of believability has continued to elude him. Western news organizations have struggled to find evidence that would corroborate Guo’s claims. When his claims appear in print, they are carefully hedged — delivered with none of his signature charm and bombast. “Why do you need more evidence?” Guo complained in his apartment. “I can give them evidence, no problem. But while they’re out spending time investigating, I’m waiting around to get killed!”

    The details of Guo’s life may be impossible to verify, but the broad strokes confirm a picture of a man whose fortunes have risen and fallen with the political climate in China. To hear Guo tell it, he was born in Jilin Province, in a mining town where his parents were sent during the Cultural Revolution. “There were foreigners there,” Guo says in a video recorded on what he claims is his birthday. (Guo was born on Feb. 2, or May 10, or sometime in June.) “They had the most advanced machinery. People wore popular clothing.” Guo, as a result, was not ignorant of the world. He was, however, extremely poor. “Sometimes we didn’t even have firewood,” he says. “So we burned the wet twigs from the mountains — the smoke was so thick.” Guo emphasizes this history: He came from hardship. He pulled himself up.

    The story continues into Guo’s pre-teenage years, when he moved back to his hometown in Shandong Province. He met his wife and married her when he was only 15, she 14. They moved to Heilongjiang, where they started a small manufacturing operation, taking advantage of the early days of China’s economic rise, and then to Henan. Guo got his start in real estate in a city called Zhengzhou, where he founded the Zhengzhou Yuda Property Company and built the tallest building the city had seen so far, the Yuda International Trade Center. According to Guo, he was only 25 when he made this first deal.

    The string of businesses and properties that Guo developed provide some of the confirmable scaffolding of his life. No one disputes that Guo went on to start both the Beijing Morgan Investment Company and Beijing Zenith Holdings. Morgan Investment was responsible for building a cluster of office towers called the Pangu Plaza, the tallest of which has a wavy top that loosely resembles a dragon, or perhaps a precarious cone of soft-serve ice cream. Guo is in agreement with the Chinese media that in buying the property for Pangu Plaza, he clashed with the deputy mayor of Beijing. The dispute ended when Guo turned in a lengthy sex tape capturing the deputy mayor in bed with his mistress.

    There are other details in Guo’s biography, however, that vary from one source to the next. Guo says that he never took government loans; Caixin, a Beijing-based publication, quoted “sources close to the matter” in a 2015 article claiming that Guo took out 28 loans totaling 588 million yuan, or about $89 million. Guo, according to Caixin, eventually defaulted. At some point in this story — the timeline varies — Guo became friends with the vice minister of China’s Ministry of State Security, Ma Jian. The M.S.S. is China’s answer to the C.I.A. and the F.B.I. combined. It spies on civilians and foreigners alike, conducting operations domestically and internationally, amassing information on diplomats, businessmen and even the members of the C.P.C. Describing Ma, Guo leans back in his chair and mimes smoking a cigarette. “Ma Jian! He was fat and his skin was tan.” According to Guo, Ma sat like this during their first meeting, listening to Guo’s side of a dispute. Then Ma told him to trust the country. “Trust the law,” he told Guo. “We will treat you fairly.” The older master of spycraft and the young businessman struck up a friendship that would become a cornerstone in Guo’s claims of insider knowledge, and also possibly the reason for the businessman’s downfall in China.

    Following the construction of Pangu Plaza in Beijing, Guo’s life story becomes increasingly hard to parse. He started a securities business with a man named Li You. After a falling-out, Li was detained by the authorities. Guo’s company accused Li and his company of insider trading. According to the 2015 article in Caixin, Li then penned a letter to the authorities accusing Guo of “wrongdoing.”

    As this dispute was going on, China’s anti-​corruption operation was building a case against Ma Jian. In Guo’s telling, Ma had long been rumored to be collecting intelligence on China’s leaders. As the anti-corruption campaign gained speed and officials like Wang Qishan gained power, Ma’s well of intelligence started to look like a threat. It was Guo’s relationship with Ma, the tycoon maintains, that made officials nervous. Ma was detained by the authorities in January 2015, shortly after Guo fled the country. Soon after Ma’s detention, accounts began appearing in China’s state-run media claiming that Ma had six Beijing villas, six mistresses and at least two illegitimate sons. In a 2015 article that ran in the party-run newspaper The China Daily, the writer added another detail: “The investigation also found that Ma had acted as an umbrella for the business ventures of Guo Wengui, a tycoon from Henan Province.”

    In the mix of spies, corrupt business dealings, mistresses and sex scandals, Guo has one more unbelievable story to tell about his past. It is one reason, he says, that he was mentally prepared to confront the leaders of the Communist Party. It happened nearly 29 years ago, in the aftermath of the crackdown on Tiananmen Square. According to Guo, he had donated money to the students protesting in the square, and so a group of local police officers came to find him at his home. An overzealous officer fired off a shot at Guo’s wife — at which point Guo’s younger brother jumped in front of the bullet, suffering a fatal wound. “That was when I started my plan,” he said. “If your brother had been killed in front of your eyes, would you just forget it?” Never mind the fact that it would take 28 years for him to take any public stand against the party that caused his brother’s death. Never mind that the leadership had changed. “I’m not saying everyone in the Communist Party is bad,” he said. “The system is bad. So what I need to oppose is the system.”

    On an unusually warm Saturday afternoon in Flushing, Queens, a group of around 30 of Guo’s supporters gathered for a barbecue in Kissena Park. They laid out a spread of vegetables and skewers of shrimp and squid. Some children toddled through the crowd, chewing on hot dogs and rolling around an unopened can of Coke. The adults fussed with a loudspeaker and a banner that featured the name that Guo goes by in English, Miles Kwok. “Miles Kwok, NY loves U,” it said, a heart standing in for the word “loves.” “Democracy, Justice, Liberty for China.” Someone else had carried in a life-size cutout of the billionaire.

    The revelers decided to hold the event in the park partly for the available grills but also partly because the square in front of Guo’s penthouse had turned dangerous. A few weeks earlier, some older women had been out supporting Guo when a group of Chinese men holding flags and banners showed up. At one point, the men wrapped the women in a protest banner and hit them. The park was a safer option. And the protesters had learned from Guo — it wasn’t a live audience they were hoping for. The group would be filming the protest and posting it on social media. Halfway through, Guo would call in on someone’s cellphone, and the crowd would cheer.

    Despite this show of support, Guo’s claims have divided China’s exiled dissidents to such an extent that on a single day near the end of September, two dueling meetings of pro-democracy activists were held in New York, one supporting Guo, the other casting doubt on his motivations. (“They are jealous of me,” Guo said of his detractors. “They think: Why is he so handsome? Why are so many people listening to him?”) Some of Guo’s claims are verifiably untrue — he claimed in an interview with Vice that he paid $82 million for his apartment — and others seem comically aggrandized. (Guo says he never wears the same pair of underwear twice.) But the repercussions he is facing are real.

    In December, Guo’s brother was sentenced to three years and six months in prison for destroying accounting records. The lawsuits filed against Guo for defamation are piling up, and Guo has claimed to be amassing a “war chest” of $150 million to cover his legal expenses. In September, a new set of claims against Guo were made in a 49-page document circulated by a former business rival. For Ha Jin, Guo’s significance runs deeper than his soap-opera tales of scandal and corruption. “The grand propaganda scheme is to suppress and control all the voices,” Jin said. “Now everybody knows that you can create your own voice. You can have your own show. That fact alone is historical.” In the future, Jin predicts, there will be more rebels like Guo. “There is something very primitive about this, realizing that this is a man, a regular citizen who can confront state power.”

    Ho Pin, the founder of Long Island’s Mingjing News, echoed Jin. Mingjing’s reporters felt that covering Guo was imperative, no matter the haziness of the information. “In China, the political elite that Guo was attacking had platforms of their own,” Ho said. “They have the opportunity, the power and the ability to use all the government’s apparatus to refute and oppose Guo Wengui. So our most important job is to allow Guo Wengui’s insider knowledge reach the fair, open-minded people in China.” Still, people like Pei urge caution when dealing with Guo’s claims. Even Guo’s escape raises questions. Few others have slipped through the net of China’s anti-corruption drive. “How could he get so lucky?” Pei asked. “He must have been tipped off long before.”

    At the barbecue, a supporter named Ye Rong tucked one of his children under his arm and acknowledged that Guo’s past life is riddled with holes. There was always the possibility that Guo used to be a thug, but Ye didn’t think it mattered. The rules of the conflict had been set by the Communist Party. “You need all kinds of people to oppose the Chinese government,” Ye said. “We need intellectuals; we also need thugs.”

    Guo, of course, has his own opinions about his legacy. He warned of dark times for Americans and for the world, if he doesn’t succeed in his mission to change China. “I am trying to help,” he told me. “I am not joking with you.” He continued: “I will change China within the next three years. If I don’t change it, I won’t be able to survive.”
    Correction: Jan. 12, 2018

    An earlier version of this article misidentified the name of the province where the Chinese government hired online commenters in 2004. It is Hunan Province, not Henan.

    #Chine #politique #corruption #tireurs_d_alarme

  • What a wall means for landowners on the border

    Customs and Border Protection has been preparing to acquire land in the Rio Grande Valley for new barriers since last fall, according to a lawsuit challenging President Donald Trump’s national emergency declaration.
    Last Friday, the advocacy group Public Citizen filed a lawsuit on behalf of three landowners and a nature preserve arguing that the President had exceeded his authority and the declaration violated the separation of powers. But some attempts to acquire land came well before the declaration was announced.
    In September, Customs and Border Protection requested access to survey private property in the Rio Grande Valley region “for possible acquisition in support of US Customs and Border Protection’s construction of border infrastructure authorized by Congress in the Fiscal Year 2019 appropriation and other funded tactical infrastructure projects,” according to a letter reviewed by CNN.

    A form is attached to grant permission to the government to conduct “assessment activities.”
    The documents reviewed by CNN were addressed to the late father and grandfather of Yvette Gaytan, one of the plaintiffs. Her home sits on an approximately half-acre lot near the Rio Grande River that she inherited from her father, according to the lawsuit. She is also one of the heirs of land owned by her grandfather.
    Gaytan, a Starr County, Texas, resident, said she signed the form allowing Customs and Border Protection to survey her land, despite her reservations. Still, in January, she received another set of documents from the agency stating it expected to file a “Declaration of Taking and Complaint in Condemnation” in the US District Court for the Southern District of Texas in order to access the land.
    The back-and-forth has been frustrating for Gaytan, who says she’d be cut off from some of her property if a wall were mounted.
    “This is very personal,” she told CNN. “Everyone wants to make it political. This is personal; this is my home.”
    Gaytan’s story is emblematic of what landowners in the region can anticipate as plans move forward to build additional barriers in the Rio Grande Valley, where much of the land is privately owned.
    Generally, the government is allowed to acquire privately owned land if it’s for public use, otherwise known as eminent domain. Eminent domain cases can be lengthy, though they generally don’t keep the agency from being able to proceed with construction. Landowners are often fighting for what is known as just compensation — what they deem a fair price for their property.
    According to the Justice Department, as of last month approximately 80 cases were still outstanding.
    The Trump administration still hasn’t acquired all the land it needs to build new barriers along the border, even as it embarks on new construction that was previously funded.
    Customs and Border Protection plans to begin building about 14 new miles of wall in March, though that partly depends on real estate acquisitions, according to a senior agency official. Those miles were funded through the fiscal year 2018 budget.
    Congress appropriated $1.375 billion for about 55 miles of new construction in its fiscal 2019 budget. Trump, seeing it as insufficient, is tapping into other federal funds through executive action and a national emergency declaration, though not all at the same time.
    The White House does not plan to spend any of the funds that hinge on Trump’s national emergency declaration while lawsuits challenging that authority work their way through the courts, a source close to the White House said.

    Instead, the White House plans to focus on building new portions of the border wall using funds from the Defense Department’s drug interdiction program and the Treasury Department’s asset forfeiture fund, which do not rely on the national emergency declaration. Those two sources of funding alone amount to $3.1 billion.
    That allows the White House to move forward with construction without risking an injunction tied to the national emergency declaration.

    https://edition.cnn.com/2019/02/21/politics/border-wall-land-seizure/index.html
    #terres #murs #barrières_frontalières #frontières #propriété #expropriation #USA #Etats-Unis

  • Commercial Real Estate (CRE) #tokenization — What You Need To Know
    https://hackernoon.com/commercial-real-estate-cre-tokenization-what-you-need-to-know-1c13f3d197

    Commercial Real Estate (CRE) Tokenization — What You Need To KnowThe blockchain is an immutable distributed ledger technology in which transaction data is recorded. Its benefits include transparency, traceability, accessibility, enhanced security, cost reduction of processes, and irrevocable documentation of the processes. More details on Blockchain applications can be found here.The ability of Blockchain-based processes in executing transactions without an intermediary or a clearinghouse very much suits a private market like real estate. The distributed ledger holds a history of a transaction, a property, an asset, or a title; it develops a digital secure identifier for a proposed transaction; and it offers an ability to transfer funds in new ways, for example using a digital encrypted (...)

    #cre-token #cre-tokenization #security-token #commercial-real-estate

  • We’re Saving Time For Home Seekers- Here’s How!
    https://hackernoon.com/were-saving-time-for-home-seekers-here-s-how-c40a1c84148f?source=rss----

    Imagine that you are moving to a new city and looking for a place for rent. What will you do? You will ideally ask for recommendations from someone you know. Maybe you will look online for those localities that are close to your office. You will probably search properties on a real estate portal and get in touch with the owner of a property you liked. Just because you liked a property doesn’t guarantee that you will get the property. You will need to convince the homeowner why you will be a better tenant. If it doesn’t work out the process restarts.Too much work right?Several members within our team had similar personal experience. We planned to listen to hundreds of customer conversations with the agents and homeowners and did a market research to understand crucial aspects that come (...)

    #housing #product #product-design #product-management #real-estate

  • Bloomberg - Bloomberg
    https://www.bloomberg.com/news/articles/2019-02-02/freed-saudis-resurface-billions-poorer-after-prince-s-crackdown

    An anti-corruption commission headed by the crown prince said a total of about $107 billion — a mix of cash, real estate, companies and securities — has been recovered from 87 people.

    Aside from confirming a $1 billion payment from the former head of the National Guard, the government has said little about the nature of the individual settlements. Less than four months ago, the crown prince told Bloomberg News that $35 billion had been collected from the prisoners. Verifying the commission’s claims is made more challenging by the opacity of the Saudi market. Closely held companies rarely disclose financials and the value of real estate — the preferred asset of many wealthy Saudis — is obscured by unrecorded transactions and restrictions on buyers.

    #arabie_saoudite #casse_du_siècle

  • Drone footage reveals hundreds of abandoned Turkish chateaux at Burj Al Babas
    https://www.dezeen.com/2019/01/18/drone-abandoned-turkish-chateau-burj-al-babas

    Approximately halfway between Turkey’s largest city Istanbul and its capital Ankara, the Burj Al Babas development will contain 732 identical mini chateaux when, or if, it completes.

    Au premier regard j’ai cru à des maquettes, mais non !

    #architecture #lotissement

    • Vraiment ? Pas un fake ? Y’a d’autres sources ? Google maps ?
      Parce qu’ un château, c’est bien quand t’es seul. La non seulement tu te tapes des voisins mais en plus, t’as la même baraque que les autres, autant vivre à la Courneuve.
      Une Ferrari c’est bien si le parking du supermarché n’en est pas rempli. Sinon ça devient du mauvais goût, comme là.

    • non pas du tout fake

      #Talia_Saray_Villa

      gg:Maps
      https://www.google.fr/maps/place/Burj+Al+Babas+Villa/@40.4450213,31.1973133,1129m/data=!3m1!1e3!4m5!3m4!1s0x14cd368170cadda5:0x1c3af436b3407cb!8m2!3d40.462581!

      gg:Images

      présenté comme un "projet hôtelier", je crois (mais ce n’est pas très clair) que les pavillons sont destinés à des investisseurs, non pour une gestion directe des locations.

      Talia Saray Project » Burj Global Group
      http://burjglobalgroup.com/property/talia-saray-project

      DESCRIPTION
      Burj Global Real Estate Group Launches Talia Saray Project (Talia Sarai) for Royal Villas (1/5/2017)

      The resort is located in Modorno district of the Polo Turkish state Which is one of the most attractive natural areas for tourists and it is two hours from Istanbul and an hour and  a half from the capital Ankara, an hour from Sabanga, a lively area of ??nature and sulfuric water (therapeutic)  at 860 meters above sea level, where fresh air and 25 degrees Summer degree.

      The area is characterized by a tourist atmosphere in the summer and winter, where tourists go for recreation and  relax with therapeutic water. The Talia Saray project is the company’s sixth project in this region.

      The resort is equipped with all hotel services / large commercial mall / 8 natural and industrial lakes  / restaurants and cafés throughout the resort / indoor and open swimming pools for women and men for privacy / Hotel / children daycare / Mosques / Hospital / Cinema / Spa Jacuzzi & Sauna / Horseback Riding /
      Thermal Water Swimming Pool / Heliport / Aqua Park / Golf Land / Soccer courts, Basketball, Tennis /  Artificial river / Golf cars for mobility within the project / Trips to Istanbul / Maintenance /  Guarding and security 24 hours a week /

      The project consists of 350 villas designed in classic style. The interior of the villa is 300 square meters. Divided into two floors. The ground floor consists of three open living rooms (can be two bedrooms), a dining room,  a kitchen with a bathroom and rooms, a Jacuzzi and steam room with thermal water, with a terrace that can be  turned into a diwaniya and a back terrace overlooking the villa’s back garden. The first floor consists of three bedrooms (one of them master room) and two bathrooms with a large terrace  and a balcony overlooking the lakes in the resort, villas also feature modern furnishings and  full luxurious decor in keeping with the villa’s exterior design.

      The villa garden is organized in an engineering style, decorated with flowers and enjoys full privacy.  A private outdoor swimming pool can also be set up for the villa.
      The land area of each villa ranges from 320 meters to 669 square meters registered under the title deed,  and most of the sites are characterized by the presence of pleas for the right of use of owners villas.

      Delivery date 2019
      Payment methods cash or installments up to Three-year

    • Faillite en novembre 2018, donc…
      –> #ghost_town !


      Partially completed chateau-like houses in the project
      Source: Sarot Group/Burj Al Babas/Facebook

      Customers from Qatar, Bahrain, Kuwait, United Arab Emirates and Saudi Arabia snapped up 350 of the villas, according to Hurriyet, at a going rate of $370,000 to $530,000. They specifically asked for the chateau-like design, according to the project’s consulting architect, Naci Yoruk.

      Sarot Group Chairman Mehmet Emin Yerdelen blamed his predicament on deadbeat clients.

      We couldn’t get about 7.5 million dollars receivables for the villas we have sold to Gulf countries,Hurriyet quoted Yerdelen as saying. “We applied for bankruptcy protection but the court ruled for bankruptcy. We will appeal the ruling.

      The group finished building 587 villas before it applied for bankruptcy protection.

      Although the court ordered the group to stop construction immediately, Yerdelen is still hopeful.

      Investisseurs défaillants du Golfe…

    • article non daté, mais très certainement du 5/12/2018 vu le numéro de la page…
      (et modifié après puisqu’il reprend une annonce du 16/09/2019

      Bonne nouvelle, le groupe serait plutôt sous redressement judiciaire et a été autorisé à poursuivre la commercialisation des pavillons et châteaux…

      http://i.hurimg.com/i/hdn/75/650x650/5bfbcf4567b0a820a05ea3fd

      http://i.hurimg.com/i/hdn/75/650x650/5bfbcf4867b0a820a05ea3ff

      A lawsuit had been filed against the developers of the Burj Al Babas housing project on grounds that the company destroyed trees and dumped excavated soil on forestland in the district of Mudurnu in the northwestern province of Bolu.

      With the criminal case continuing in the Mudurnu court and the company also appealing the court-declared bankruptcy in Istanbul, the firm’s chairman Mehmet Emin Yerdelen told Demirören News Agency on Jan. 16 that the sale of the villas resumed because the Bankruptcy Directorate allowed it.

      Our companies are currently operating in normal conditions under judicial control. Our sales and construction works continue as part of our resumed commercial activities,” he said.
      […]
      But the court now decided on bankruptcy. That was a wrong decision. The total value of the project is about $200 million. We will object to this decision. We still have 250 villas completed and ready to go on sale. Selling only 100 of them would be enough to pay off the debts and complete the project,” Mehmet Emin Yerdelen, the chair of the Sarot Group, told daily Hürriyet.

  • Anderson Tan — The Renaissance Man
    https://hackernoon.com/anderson-tan-the-renaissance-man-842fcc7ab3e3?source=rss----3a8144eabfe3

    Anderson Tan: The Renaissance ManAnderson Tan — The Renaissance Man first appeared on Blockleaders, written by Jillian Godsil on 4th October 2018Anderson Tan is positively voracious in his search for knowledge and learning. In 2014, while between jobs (and by jobs I mean having sold two companies and being involved in real estate before casting about for a new adventure), he studied continuously computer science, physics, entrepreneurship, philosophy, technology, coding, creative problem solving, space, music among other things through online learning platforms operated by Stanford, MIT, Harvard, Wharton, Yale, Princeton, Babson, Berkeley, Northwestern, IBM, Linux, University of London, University of Edinburgh, University of Oxford, University of Tokyo and many more.He is a graduate of the (...)

    #startup #blockchain #cryptocurrency #angel-investors #profile

  • Holy Land for Sale – Foreign Policy
    https://foreignpolicy.com/2019/01/07/holy-land-for-sale

    The Greek Orthodox Patriarchate is selling church land that’s ending up in the hands of Israeli settler groups. Its Palestinian Christian congregants are furious.

    JERUSALEM—On the eve of Orthodox Christmas, on Jan. 6, dozens of Palestinians lining the cobblestone roads of Bethlehem protested the convoy of the Greek Orthodox patriarch of Jerusalem, Theophilos III, with chants of “traitor” as it made its way to Manger Square under heavy protection by Palestinian security forces. Representatives of Bethlehem municipality gave the patriarch the cold shoulder, refusing to meet him in the square as is customary.

    The protesters’ anger is erupting now because the Greek Orthodox Church, the second-biggest landowner in the Holy Land, has in recent years been embroiled in a real estate controversy.

    The church—which owns about one-third of the land in Jerusalem’s Old City as well as property in the West Bank and in Israel, including the plot on which the Knesset is built—has quietly sold off plots of land and property to frontmen and developers, with many ending up in the hands of Israeli settler groups. The practice of selling off church property or leasing it for decades has pitted the clergy, the majority of whom are Greek, against their Palestinian flock. As these deals began to surface, protests by the church’s majority Palestinian congregation have intensified, as has fear among Israelis whose homes are located on leased church land.

  • Dubai stocks limp to end of worst year since financial crisis | UAE News | Al Jazeera
    https://www.aljazeera.com/news/2018/12/dubai-stocks-limp-worst-year-financial-crisis-181231180807124.html

    Dubai’s stock market ended 2018 on Monday with a 25-percent annual loss, the worst year since the global financial crisis a decade ago, as the real estate and tourism sectors struggled.

    The plunge in the Dubai Financial Market Index was the biggest among Gulf and Arab bourses amid signs of a slowdown in the emirate’s highly diversified economy.

    Une année plombée dans le #Golfe et aux #Emirats en particulier.

  • Centralization Still Rampant in Crypto (and it’s all under the hood)
    https://hackernoon.com/centralization-still-rampant-in-crypto-and-its-all-under-the-hood-299a23

    99% of #cryptocurrency Products are still Centralized and that’s a Problem“He who is given power will inevitably become an oppressor and exploiter of society.” — Mikhail BakuninThe ultimate promise of blockchain technology and cryptocurrencies: the #decentralization of power. The vision was to give transparency, power, control back into the hands of the people. After all, this was born (just 3 weeks) out of the 2008 financial crisis where the culmination of years of abuse of power came to a tipping point. Big banks told us to “give us your money and just trust us”. We did, and we all paid for it.What happened: The creation of the most overvalued real estate market of the century driven by stated income loans. Insolvent banks. Then a $700 billion bailout. People made mistakes (read: committed (...)

    #cryptocurrency-investment #centralized-crypto #bitcoin

  • How can a Digital Monetary System be Beneficial to our Current Financial Climate?
    https://hackernoon.com/how-can-a-digital-monetary-system-be-beneficial-to-our-current-financial

    https://imageapi.khm.at/images/1481/GG_310x.jpgOne of the main purposes of introducing #cryptocurrency was to deal with the imperfections from existing monetary systems that are based on fiat money. As most of us already know (and have probably experienced), inflation is the result of monetary policy — the losses we incur because of it can only be covered by depositing money into banks for interest. Outperforming the system and receiving returns is only possible if you’re involved in trading or own real estate at the very least. However, the current monetary paradigm could be changed through the introduction of a digital monetary system. Let’s find out how!What is a digital monetary system?A monetary system itself simply describes the rules of how a government provides money to the society. (...)

    #fintech #bitcoin #blockchain #education

  • The Journey To Becoming A Web Host
    https://hackernoon.com/the-journey-to-becoming-a-web-host-3de489d2c05c?source=rss----3a8144eabf

    Hosting Your Own Web ServerThis article requires that you have knowledge of #php and cURL.All Websites Need Web HostingIf you aren’t sure what web #hosting is — everything on the Internet usually needs a web host. To summarize: the Internet is the Earth. The websites on it are real estate and could be considered houses or commercial buildings, which can be defined with an IP address. The roads on it are the DNS routes. The browser is the car we all drive to visit those places. A web host is where your files are and how everyone finds your real estate on the web. A registrar helps with getting your address, an IP address, that you actually don’t ever really see — which resolves to a name for your website, and usually starts with www.(dot) and ends with (dot)com or another TLD (top level domain) (...)

    #wordpress #web-hosting #web-development

  • A Few Thoughts on #security Tokens
    https://hackernoon.com/a-few-thoughts-on-security-tokens-d5a47f1fbd91?source=rss----3a8144eabfe

    As understood by an engineer with no background in economics, finance or tradingOur economy has evolved to consider and account for a variety of different assets: stocks, bonds, real estate, commodities, intellectual property, and many others. Trading some of these assets is constrained by their physicality, as it may be cumbersome to physically trade ownership, or even to subdivide the asset.In order to help address this issue, we invented securitization. That’s the process of transforming ownership of an asset or a right into an easily tradable security. We predict that, with the emergence and maturity of #blockchain technology, and the development of open standards, we will be enabled to expand on the concept and impact of securitization. We will do this through the tokenization of (...)

    #decentralization #security-token #token

  • Going Through the Back Door : Will UAE Sideline Renewed Iran Sanctions ?
    https://insidearabia.com/uae-sideline-renewed-iran-sanctions

    Les Emirats et leur petite cuisine avec l’Iran : pas de raison deu cela cesse, y compris avec les sanctions US.

    In June 2018, the Center for Advanced Defense Studies in a report entitled, “Tracing Sanctions Evasion Through Dubai’s Luxury Real Estate Market,” revealed that Dubai is used by seven individuals sanctioned by the US and the EU as well as their respective networks who bought 81 luxury properties in the UAE as part of an extensive “money laundering scheme” worth millions.

    The report stated:

    “Dubai, the largest city in the United Arab Emirates (UAE), has become a favorable destination for these funds due in part to its high-end luxury real estate market and lax regulatory environment prizing secrecy and anonymity. While the UAE has taken steps to address this issue, its response thus far has failed to fully confront the underlying drivers enabling the manipulation of its real estate market. The permissive nature of this environment has global security implications far beyond the UAE. In an interconnected global economy with low barriers impeding the movement of funds, a single point of weakness in the regulatory system can empower a range of illicit actors. Our research shows that lax regulatory and enforcement environments –in Dubai, but also in other financial centers – have attracted criminal capital from around the world and offered a pathway into the international financial system for illicit actors and funds.”

    #Emirats #Iran

  • Opinion | New York’s Amazon Deal Is a Bad Bargain - The New York Times
    https://www.nytimes.com/2018/11/14/opinion/new-yorks-amazon-deal.html

    The city has what the company wants, talent. Why pay them $1.5 billion to come?

    Amazon wants to develop a four-million-square-foot campus by the East River because of the talent that resides in New York. Lots of it. According to the Metropolitan Policy Program at the Brookings Institution, New York has more than 320,000 tech workers in the labor pool, the most in the nation. (Washington is second.) That talent commands high salaries, great benefits and won’t move to Pittsburgh or Austin or any other of the perfectly nice cities that tried to woo the online giant.

    Which raises the question: If New York has what Amazon wants, why is it paying the company so much to make the move? Mayor Bill de Blasio and Gov. Andrew Cuomo, who offered to replace his given name with the company’s to land the deal, are doing a victory dance.

    But the plan calls for the state to dispense $1.525 billion to the company, including $1.2 billion from its Excelsior program, which will reimburse Amazon $48,000 for every job. Another state agency, Empire State Development, will offer $325 million to the Amazonians tied to real estate projects. As for the city, Amazon can apply for tax credits that could be worth north of $1 billion from programs known as ICAP and REAP that reward companies for job creation generally, and outside Manhattan specifically. (And the campus is in a federal redevelopment area that qualifies for corporate tax breaks, letting the company’s major stockholder, the world’s richest man, keep more of his wealth.)

    Oh, and Amazon wants a helipad for its chief executive, Jeff Bezos. No problem.

    The prospect of handing Long Island City over to a company recently valued at $1 trillion seems distorted to some Queens politicians. They sense gentrification by fiat — another neighborhood sacrificed to the tech elite.

    “I welcome the jobs if it means Amazon investment in L.I.C. infrastructure, without us having to pay a ransom for them to be here,” said the neighborhood’s state senator, Michael Gianaris.

    That is, rather than the state and the city paying off Amazon, Amazon should be required to invest in the subways, schools and affordable housing. It could also be required to include job guarantees for lower-income residents of Long Island City, not just flimsy promises of job training.

    #Amazon #New_York #Strategie_economique

  • Scum vs. Scum
    https://www.truthdig.com/articles/scum-vs-scum

    Scum versus scum. That sums up this election season. Is it any wonder that 100 million Americans don’t bother to vote? When all you are offered is Bob One or Bob Two, why bother? One-fourth of Democratic challengers in competitive House districts in this week’s elections have backgrounds in the CIA, the military, the National Security Council or the State Department. Nearly all candidates on the ballots in House races are corporate-sponsored, with a few lonely exceptions such as Alexandria Ocasio-Cortez and Rashida Tlaib, members of the Democratic Socialists of America who are running as Democrats. The securities and finance industry has backed Democratic congressional candidates 63 percent to 37 percent over Republicans, according to data collected by the Center for Responsive Politics. Democratic candidates and political action committees have received $56.8 million, compared with Republicans’ $33.4 million, the center reported. The broader sector of finance, insurance and real estate, it found, has given $174 million to Democratic candidates, against $157 million to Republicans. And Michael Bloomberg, weighing his own presidential run, has pledged $100 million to elect a Democratic Congress.

    #etats-unis « #élite » #corruption

  • Introducing a New Standard for Digital Stock Certificates: #erc-1450
    https://hackernoon.com/introducing-a-new-standard-for-digital-stock-certificates-erc-1450-c7ec9

    It is clear by now that one of the most important revolutions brought about by #blockchain technology will be the digitization of the world: transforming assets into tokens that represent the ownership of trillions of dollars worth of securities and real estate. However, in order to make that transition possible, there needs to be a marriage of decentralized applications and regulation. Why regulation?It turns out when you divide assets into small pieces and sell those pieces to investors, those fractional pieces of an asset instantly become securities. Securities are highly regulated by the Securities Exchange Commission (the SEC) and the 50 State Administrators. Effecting transactions of securities requires the intermediate to be a Broker-Dealer.In the past few years, American (...)

    #ethereum #tokenized-revolution #digital-stock-certificate

  • All the president’s men: what to make of Trump’s bizarre new painting | Hannah Jane Parkinson | Opinion | The Guardian
    https://www.theguardian.com/commentisfree/2018/oct/15/president-trump-new-painting-white-house-republican

    They say a picture is worth a thousand words, unless it’s a shredded Banksy, obviously, which is worth around £1m. But how to put a value on the majestic artwork Donald Trump was revealed to have gracing the wall outside the Oval Office, as eagle-eyed viewers of 60 Minutes spotted?

    So far, we know of two other “artworks” that Trump has: that Photoshopped picture of his inauguration crowd (dude, let it go), and the electoral college map. It is no wonder Trump wanted to spruce the place up in his own way, given that he referred to the White House as “a dump”. I still cackle at this, given its sheer, disparaging rudeness – like how when Location, Location, Location’s Phil shows a couple around a three-bedroom semi with a north-facing garden, Kirstie mugs to the camera and draws an imaginary knife across her throat.

    #on_est_en_2018 #allégorie #images #propagande #représentation