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October 29, 1991 | DANIEL ASKT
It's strange behavior for a fat cat. Five mornings a week, Jim Smith rises at midnight to work the graveyard shift as a mail handler. When he gets off at 9:30 a.m., he begins his building maintenance chores. Smith had hoped to quit the Postal Service long ago, but he made one big mistake. He plowed his hard-earned money into rental housing in Berkeley, where he and many other working-class landlords were stuck with 1970s rents and no way to recoup investments in their own property.
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BUSINESS
October 29, 1991 | DANIEL ASKT
It's strange behavior for a fat cat. Five mornings a week, Jim Smith rises at midnight to work the graveyard shift as a mail handler. When he gets off at 9:30 a.m., he begins his building maintenance chores. Smith had hoped to quit the Postal Service long ago, but he made one big mistake. He plowed his hard-earned money into rental housing in Berkeley, where he and many other working-class landlords were stuck with 1970s rents and no way to recoup investments in their own property.
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