Monday, November 28, 2011

Egyptians Form Huge Lines to Vote in New Elections (The Atlantic Wire)

Despite long lines and confusing rules, Egyptians have turned out in droves to vote in the country's first elections since the end of Hosni Mubarak's decades old regime.?

Related: Estimated Bill for the Arab Spring: $55 Billion

Past elections in Egypt have typically been chaotic and violent, while also being mostly pointless due to Mubarak's usual vote-rigging or simple ignoring of results. So far there have been no major reports of violence, despite the fact that a lot of the chaos is still there. Many polling places were not ready to open at 9:00 a.m. as they were supposed to, ballots have been misplaced or misdirected, parties continued last-minute campaigning (which is illegal), and even those who did get to vote were having trouble with the confusing ballot and rules.?More the 50 political parties and thousands of candidates are?competing?for less than 200 seats in the lower house of Parliament. If you can make sense of this plan, you're better than most.

Related: Obama to the British Parliament: 'We Will Not Relent'

And this is just the first stage of a months-long process meant to create a new government ? that may not even have any real power when it comes together, as the military caretakers continue to assert their dominance over the country. Protests have been raging for more than a week, as the military still has not set a date for the presidential election.

Related: 5,000 Soldiers Will Protect Mubarak on His Way to Court

Despite all those concerns and the logistical problems that are popping up turnout is still quite high and people are eager to cast their votes, after years of dictatorship.?If you're interested in live updates, some of the reporters on the ground who gather news from all over, include The Wall Street Journal's?Tamer El-Ghobashy, CNN's Ben Wedeman, McClatchy's Hallah Allam, and of course Al Jazeera.

Source: http://us.rd.yahoo.com/dailynews/rss/africa/*http%3A//news.yahoo.com/s/atlantic/20111128/wl_atlantic/egyptiansformhugelinesvotenewelections45421

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Sunday, November 27, 2011

Business mogul mansions that are up for sale

Even as the gulf between the haves and have-nots grows, and Occupy Wall Street protesters chant and march, the titans of industry continue to buy and sell ever fancier digs. That leaves the 99 percent of us ? mere mortals with smaller paychecks ? to gawk at the sumptuous homes owned by finance tycoons and corporate chiefs.

With the help of Zillow.com and Trulia.com, we tracked 10 business moguls with homes they?re trying to sell and others they?ve recently bought. Some are dropping their stellar asking prices; many have moved on before selling. Others, on the brink of losing membership in the exclusive 1 percent club, had no choice but to sell.

In January 2010, shortly after Kenneth D. Lewis retired as Bank of America CEO, the financier listed his four-bedroom, five-bath French provincial-style mansion in Charlotte, N.C., for $4.5 million. Nearly two years later, the 7,000-square-foot home on 1.27 acres of a gated community is still languishing on the market, currently priced at $3.895 million.

Forbes.com slideshow: Business mogul mansions for sale

Former New Jersey governor Jon Corzine, the Wall Street darling turned poster boy for Occupy Wall Street?s cries against financial malfeasance, resigned in October as chairman and chief executive of MF Global Holdings. This, after his $6.3 billion gamble on European debt flopped, $633 million in customer money went missing and the New York-based futures brokerage fell into bankruptcy. Now the price on Corzine?s undeveloped 2,379-acre ranch 14 miles west of the ski resort town of Telluride, Colo., has dropped from $37.5 million to $29 million. When the former chief of Goldman Sachs bought the spread in 1996, he intended someday to build a home and develop the property, said T.D. Smith, the listing broker. Instead, he put it on the market for $40 million in 2007.

?It?s a beautiful mountain ranch,? Smith said of the expansive property with a sweeping view of the 14,000-foot peaks and protected on two sides by dramatically steep cliffs that fall into two river canyons. Interest is stirring. ?The price hasn?t been adjusted until recently. It was always priced a bit above the market,? said Smith.

Not long after Ursula Burns moved up the ladder to become chairman and chief executive of Xerox, she sold her three-bedroom Manhattan apartment at the Beekman Regent on East 51st Street. In its place she bought a nine-room, 3,326 square foot penthouse ? double the size ? for $8.15 million in the Robert A.M. Stern-designed Brompton Condominium on East 85th Street.

?She wanted something a little more grand,? said Michael Spodek, the selling agent and a senior vice president and associate broker with the Corcoran Group. Spodek described the new condominium as ?absolutely in turnkey condition? and the layout, ?glamorous? with superb sunlight. Burns also owns a home in Connecticut, but her other seven-bedroom home on 1.6 acres in Brighton, N.Y., remains empty and on the market for $879,000.

According to the Nothnagle Realtors listing, the seven-bedroom, seven-bath home on 1.6 acres has a dining room large enough for black-tie galas and is ?suitable for captains of industry, who are accustomed to fine living.?

More from Forbes.com

? 2011 Forbes.com

Source: http://www.msnbc.msn.com/id/45357265/ns/business-forbes_com/

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