1.
U.S. markets recover from steep losses
TRENTON, N.J., Feb. 28 (UPI) -- New Jersey Inspector General Mary Jane Cooper has asked the state's Division of Criminal Justice to investigate a state-backed development project.
Taxpayers stand to lose $50 million if the 785-acre EnCap project fails, the New Jersey Star Ledger reported Thursday.
The EnCap project, including a golf course, a hotel and thousands of homes, was begun in 2004, but has run into a series of delays on environmental issues and funding difficulties, the newspaper said.
In January, the New Jersey Attorney General's office gave EnCap, which is managed by developer Donald Trump, until May to clean up the polluted property, which is on massive landfills in the Meadowlands area.
Trump was hired to oversee the EnCap project in November for a $15 million fee. His contract runs until 2010.
The developer, EnCap Golf Holdings, is controlled by Cherokee Investment Partners, a North Carolina-based private equity company.
|
|
|
|
|
|
| Additional Business News Stories | |
CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
|
ORLANDO, Fla., May 23 (UPI) --
The U.S. Air Force has added Lockheed Martin to its list of companies for support of its medical services worldwide.
|
The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
|
What if Europe turned out to be the new Japan?
|
| Stories | Photos | People | Comments |
View Caption
