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Delos Chang  //  My name is Delos Chang and I like to create magic effects. Check out YouTube channel.

May 22 / 2:00am

Key deal forged for Brooklyn Bridge Park

The city announced Monday afternoon that it has settled a lawsuit with preservationists and community groups. The deal will guarantee the future development of the 85-acre Brooklyn Bridge Park and preserve parkland there.
Last year, a number of groups banded together and sued the city to protect Brooklyn Bridge Park's historic Tobacco Warehouse and Empire Stores from being developed and to block the transfer of the properties over to the city. Before any development can begin on the two sites, state legislation has to be passed and the National Park Service needs to approve such development. Under the new agreement, the Tobacco Warehouse will be preserved and re-used as a cultural and community facility by schools, community organizations and the public.
If the necessary approvals are reached, the Tobacco Warehouse could reopen for programming as early as this summer, according to the city. Additionally, St. Ann's Warehouse, a Brooklyn nonprofit theater group, has been conditionally designated as the tenant of the Tobacco Warehouse. Meanwhile, the Empire Stores will be used as a mixed-use retail and commercial development that will provide revenue to help fund Brooklyn Bridge Park's operation and maintenance costs. Last year, the city planned to release a request for proposals to redevelop the Empire Stores building but the efforts were delayed because of the lawsuit.
The settlement calls for 38,000 square feet of new parkland immediately below the Manhattan Bridge and owned by the city to be added to Brooklyn Bridge Park. The parkland will substitute any parkland taken away as a result of developing Tobacco Warehouse and Empire Stores. The preservation of such parkland and public involvement were key to the plaintiffs' lawsuit against the city. Under the deal, the city also agreed to keep the community actively involved in its plans for developing the two sites.
"This agreement solidifies our ongoing partnership with the community to build Brooklyn Bridge Park for generations to come," said Regina Myer, president of the Brooklyn Bridge Park Corp., the entity responsible for overseeing planning, building and maintaining the park, in a press statement. "I look forward to working to incorporate new parkland in the Park, developing a vibrant community and theatre space in consultation with the community, and ensuring that the successful adaptive re-use of Empires Stores and Tobacco Warehouse benefits park visitors."
"Today is another sign that public process matters, and that when the community stands up it's possible to make real progress on difficult issues," said Sen. Daniel Squadron, who along with Assemblywoman Joan Millman played a major role in the settlement and ensured that the community plays an expanded role in the planning, design and construction of new parkland "Moving forward we will now have a collaborative process in place and new publicly accessible parkland."
Jim Walden of the law firm of Gibson, Dunn & Crutcher, who represents the plaintiffs in the case, referred comment to his clients—The Fulton Ferry Landing Association, the Brooklyn Heights Association, the New York Landmarks Conservancy, and the Preservation League of New York State.
"The expansion of the park is a great victory for everyone," said Joan Zimmerman, president of the Fulton Ferry Landing Association, in a statement. "We are glad that the settlement agreement today solidifies public process and ensures that, if any re-use of the Tobacco Warehouse or Empire Stores is approved, replacement parkland is a 'must'."

Source: http://feeds.crainsnewyork.com/~r/crainsnewyork/latestnews/~3/__468CF34y0/120529993

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May 21 / 10:00pm

CITI: PANIC RESURFACES

One of our favorite stock market sentiment indicators is the Citigroup Panic/Euphoria Model.  Indeed, it's the favored metric of Tobias Levkovich, Citi's top U.S. equity strategist.

The model is a contrarian indicator, which means high levels of panic mean it's time to buy stocks.

In his latest Monday Morning Musings report, Levkovich notes "sentiment has shifted rapidly from complacency in March to panic in the latest readings on our unique Panic/Euphoria Model."  More from his note:

“Panic” resurfaces. Admittedly, markets rarely get that "cataclysmic crescendo of capitulation" to call for buying stocks, but proprietary measures such as the Panic/Euphoria Model now are intimating that upside opportunity has re-emerged. Meetings with institutional investors do not anecdotally demonstrate that people are “freaked out,” but the sharp decline over the past six weeks has caused significant deterioration of sentiment (even amongst credit investors). Other metrics still are not providing the requisite buy inflection such that a more positive view for stocks is appropriate but that nuance does not imply a willingness to grow long bull horns yet.

The model isn't screaming buy yet.  But it's worth noting that it's pretty reliable.  Last October, it predicted a 98 percent chance of a double-digit return in stocks, and it was right.

Here's the up-to-date chart:

chart

SEE ALSO: CITI: These 6 Trends Should Make You A 'Raging Bull' On America >

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Source: http://feedproxy.google.com/~r/businessinsider/~3/6nI1QUhy_tg/citi-panic-resurfaces-2012-5

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May 21 / 2:00pm

Facebook Cofounder Disses Yammer By Saying It Looks Like Facebook (FB)

Dustin Moskowitz Asana cofounder

Facebook cofounder Dustin Moskovitz is doing a little trash talking about his competition.

Moskowitz's current project, Asana, aims to make it easier to split up work tasks. As such, it competes with companies like Yammer, Salesforce.com, and Jive.

"The first time I looked at Yammer, I thought I was on Facebook,” Moskowitz told the New York Times. “Work is not a social network, with serendipitous communications and photo collections. Work is about managing tasks, and responding to things quickly.”

Moskowitz seems to have figured out that he's in the business of enterprise software, where trash-talking the competition is much more popular than in we-love-everybody-and-have-no-competitors consumer Web-startup land.

We've asked Yammer CEO David Sacks for a response. Should be good.

Other nuggets from the NYT's Asana profile:

  • Moskowitz's title at Asana is "Asana." So is everyone else's. It means "easeful posture" in Sanskrit.
  • Moskowitz makes $33,280 a year, rather than the token $1 salary some wealthy tech CEOs opt for, on his lawyers' advice.
  • There's no foosball at Asana. But there is a game of Twister.

Read the New York Times profile of Dustin Moskowitz's Asana >>

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Source: http://feedproxy.google.com/~r/businessinsider/~3/l_M95pE95Fg/dustin-moskowitz-asana-yammer-2012-5

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May 21 / 6:00am

DÉJÀ VU: Dominique Strauss-Kahn Is Being Investigated For Sexual Assault

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As if Dominique Strauss-Kahn's lawyers didn't have enough on their platter already, the scope of the inquiry into the former International Monetary Fund's chief involvement in a prostitution ring has widened, say French prosecutors.

This time around, the subject of the investigation has broadened to the possibility that DSK assaulted more than one woman during an alleged encounter.

The French prosecutors had this to say, according to CNN.

"Following the decision by the examining magistrates, who are in charge of the affair known as the 'Carlton affair,' they have reason to believe ... pertaining to events which allegedly took place in Washington between December 15 and 18, 2010, that there is suspicion of gang rape."

The French newspaper Liberation first reported on the accusations. According to the women who came forward, Strauss-Kahn used force on at least one of them during a seuxal encounter at the W Hotel in Washington, D.C, 

At the moment, Agence France Presse reports that Strauss-Kahn's lawyers have denied all the allegations.

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Source: http://feedproxy.google.com/~r/businessinsider/~3/RWk7ys1TfNk/dj-vu-dominique-strauss-kahn-being-investigated-for-sexual-assault-2012-5

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May 20 / 10:00pm

Cha Cha! Gap Unveils New Video for Cabana Collection

Courtesy Gap Ready to head south of the border with Gap? The brand’s recently launched Cabana collection features loads of bright colors and tropical prints paired with cool chambray and soft cotton fabrics, all inspired by Mexico’s luxurious vacation spot, Tulum. You’ll find pretty floral frocks and beautiful embroidered tops for girls, plus casual button [...]

Source: http://feeds.celebritybabies.com/~r/celebrity-babies/~3/NB_qCtJapuQ/

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May 20 / 6:00pm

5 Art Cashin Brain Teasers That Will Make You Feel Like An Idiot

Art CashinArt CashinUBS Financial Services' director of floor operations at the NYSE, never forgets to include a fun trivia question at the end of his daily newsletter, Cashin's Comments.

The questions are will typically test your logic, math or history skills, and can get a bit frustrating because Cashin won't release the answer until his newsletter the next day.

We collected the questions and answers from this week. Can you figure them out before you click the "next" button?

Last Friday's Question

It was for a good cause anyway - Half the floor turned out to watch a charity mini-marathon.  The runners were Mike, Pete, Rich, Dan and Ed.  Mike finished in front of Pete but behind Rich.  Dan finished in front of Ed but behind Pete.  What was the order of finish?

Source: Cashin's Comments

Last Friday's Answer

The order of finish was Rich, Mike, Pete, Dan and Ed.

Source: Cashin's Comments

Monday's Question

Work smarter not harder - If 6 people can paint 9 landscapes in a day and a half.....how many people would it take to paint 270 landscapes in 30 day??

Source: Cashin's Comments

See the rest of the story at Business Insider

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Source: http://feedproxy.google.com/~r/businessinsider/~3/c37aSZwYx8c/art-cashin-brain-teasers-2012-5

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