Subject: Economic News (ECO)

June 14, 2002The U.S. Senate has put off until Monday further debate on the proposed Terrorism Risk Insurance Act of 2002, the bill known as S.2600.A vote on the measure could come as early as Tuesday, but even if it ...

A new 20-page document from the Congressional Joint Economic Committee makes an official call for the need for federal backstop legislation to help insure insurers. It has strong numbers to make its case.

May 22, 2002 Senator Christopher Dodd (D-Conn.), a supporter of federal backstop legislation for property insurers, said chances for passage of any sort of law anytime soon were not strong."It's harder to convince members, absent an event," Dodd told Reuters.The ...

May 14, 2002 The current inability of property owners to secure affordable terrorism insurance is having a profound impact on the real estate sector. So says the National Association of Real Estate Investment Trusts in response to a recent Federal ...

April 25, 2002 Commercial Real Estate DirectThe Financial Accounting Standards Board is due to issue its exposure draft soon regarding FAS 94, the "Consolidation of all Majority-owned Subsidiaries."The rules have to do with identifying and accounting for special purpose entities, ...

April 11, 2002 PHILADELPHIA – ACE USA will provide terrorism insurance to commercial real estate industry throughout the United States and Canada.Terrorism insurance has been an issue in the industry since Sept. 11. While difficult to obtain for a while, ...

As the federal government has been mulling whether or not to lend a hand to the insurance industry, real estate owners gradually are seeing more options, both in terms of cost and carriers. But no one is saying the issue ...

Investors and other real estate insiders say that none of the handful of high-profile terrorism insurance policies written over the past few weeks include biological, chemical or radiological acts of terrorism, and probably never will.

March 14, 2002 BOISE, Idaho – Food and drug retailer Albertson's (NYSE:ABS) intends to exit four under-performing markets in Tennessee and Texas through store closures and sales.The markets are in Memphis, Nashville, Houston and San Antonio.Combined, the markets represent about ...

March 12, 2002 NEW YORK – Grubb & Ellis (NYSE:GBE) is acting to increase its immediate operating efficiencies by reducing its work force, but did not disclose how many employees would be affected by the cuts.Grubb & Ellis Chief Operating ...