Abu Dhabi buys Chrysler tower


	Abu Dhabi buys Chrysler tower

sahara

7-10-2008 7:00 PM

265 views

tags:

selling, america, piece by piece

1 Comment |

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7-11-2008 4:58 AM

righthand

I'd only get worried when they start bidding on the White House.

It is capitalism after all. Everything is for sale, right?! Some of them would sell their mothers. Well, grand mothers.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/c93b53d8-026e-4339-b498-4536f58e3f22/D880B69B-0BD1-4704-AEDF-54187130249A/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.guardian.co.uk/business/2008/jul/10/sovereignwealthfunds.usa" href="http://www.guardian.co.uk/business/2008/jul/10/sovereignwealthfunds.usa" style="font-size: 11px;">www.guardian.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/jul/10/sovereignwealthfunds.usa"><div align="center"><img src="http://content9.clipmarks.com/blog_cache/www.guardian.co.uk/img/9911D740-5492-4A0C-A4A8-13505ED6D5F8" alt="New York's Chrysler building" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/jul/10/sovereignwealthfunds.usa"><P>One of the best-loved buildings on the New York skyline has been sold to the investment arm of the Abu Dhabi government for an estimated $800m (£400m).</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/jul/10/sovereignwealthfunds.usa"><P>New Jersey-based Prudential insurance company yesterday confirmed it had sold its 75% stake in the art deco Chrysler building to the Abu Dhabi investment council. Abu Dhabi is the biggest and richest member of the United Arab Emirates.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/jul/10/sovereignwealthfunds.usa"><P>Like other Middle East groups, it has been able to take advantage of collapsing property prices and soaring oil revenues.  </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/jul/10/sovereignwealthfunds.usa"><P>The 77-storey building was completed in 1930 and was briefly the tallest in the world. But it lost that status in 1931 when the Empire State building opened.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/jul/10/sovereignwealthfunds.usa"><P>It is not the first New York landmark to be taken over by foreign investors. Japanese financiers bought the Rockefeller Centre during a collapse in property prices in 1989, and last May a consortium of businesses from the US, Kuwait and Qatar bought the General Motors building on Fifth Avenue.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/D880B69B-0BD1-4704-AEDF-54187130249A/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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