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BUSINESS
August 5, 2002 | From Associated Press
The company that held the lease for the World Trade Center estimates its losses at $8.2 billion from the terrorist attacks. Silverstein Properties had previously estimated the losses at $6.5 billion but adjusted it to show tenant-improvement costs and depreciation estimates. The figure includes a $2.5-billion estimate of interrupted business losses from the attacks and a $5.7-billion loss for the twin skyscrapers and adjacent buildings destroyed on Sept. 11. Swiss Reinsurance Co.
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BUSINESS
August 5, 2002 | From Associated Press
The company that held the lease for the World Trade Center estimates its losses at $8.2 billion from the terrorist attacks. Silverstein Properties had previously estimated the losses at $6.5 billion but adjusted it to show tenant-improvement costs and depreciation estimates. The figure includes a $2.5-billion estimate of interrupted business losses from the attacks and a $5.7-billion loss for the twin skyscrapers and adjacent buildings destroyed on Sept. 11. Swiss Reinsurance Co.
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BUSINESS
September 11, 1986 | MARTHA GROVES, Times Staff Writer
Gimbel Bros. is about to be no more. After nine months of trying, Batus Inc. said Wednesday that it has agreed to sell the last of its Gimbels stores, including the famous flagship in Manhattan's Herald Square, to a group of real estate developers. The sale of the two stores and a Long Island warehouse--for undisclosed terms--essentially completes a restructuring of retail operations announced last January by Batus, the U.S. unit of British-based BAT Industries.
NATIONAL
September 14, 2004 | From Times Wire Reports
Hundreds of people who worked on the World Trade Center cleanup in New York have filed a class-action lawsuit against the leaseholder of the towers and those who supervised the job, alleging that they did little to protect workers from asbestos and other toxins in the air. The lawsuit, filed in federal court, was brought against Silverstein Properties and the four construction companies hired to oversee the debris removal.
REAL ESTATE
January 27, 1985
California Federal Savings & Loan Assn., Los Angeles, is heading a consortium of five California-based financial institutions supplying $300 million in permanent financing for a 47-story office tower under construction in lower Manhattan. In addition to the $150-million commitment from Cal Fed, the loan--one of the largest mortgages ever placed on a single building--will be funded by Home Savings of America, Glendale Federal Savings & Loan Assn., Gilbraltar Savings and Coast Savings & Loan Assn.
BUSINESS
October 23, 2001 | Reuters
One of the World Trade Center's insurers filed suit, asking a federal court to rule that the Sept. 11 attack on the twin towers, carried out by two hijacked planes, is one loss instead of two separate losses. The suit, filed in Manhattan federal court by SR International Business Insurance Co., also known as Swiss Re, asks the court to determine how insurance funds will be distributed. The suit claims that Larry Silverstein of Silverstein Properties Inc.
ENTERTAINMENT
January 24, 2003 | Christopher Reynolds, Times Staff Writer
One of the seven architectural teams vying to redesign the World Trade Center site has been dropped from the competition, a move prompted by the withdrawal of one of the team's key members, industry giant Skidmore Owings & Merrill. Along with Skidmore, its many teammates on the effort, including Los Angeles architect Michael Maltzan, have been removed from contention -- action that insiders said came as a surprise to some team members. The flurry of activity began with a Dec.
NATIONAL
July 21, 2002 | JOSH GETLIN, TIMES STAFF WRITER
It had all the trappings of a Big Apple nightmare: Put 5,000 New Yorkers in a room and, with TV cameras rolling, ask them to vent their opinions on how to rebuild the World Trade Center. But the high-tech town hall meeting Saturday was anything but disorderly. In a remarkable display of civility, victims' families, rescue workers, residents of Lower Manhattan and thousands of others calmly dissected six development plans recently unveiled by the city.
REAL ESTATE
December 24, 1989 | RON GALPERIN, Galperin is a Los Angeles-based free-lance writer who has covered the commercial real estate scene for several years
Airport officials finally opened bids this month on a 2-mile extension of Westchester Parkway that could be the site of up to two dozen commercial buildings on 358 acres in Westchester, just north of Los Angeles International Airport. Tutor-Saliba Corp. turned in the low bid with a $22.3-million proposal to build 5 million square feet of office, industrial and retail space on a site that would stretch Westchester Parkway from Sepulveda Westway to Pershing Drive, near the coast.
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