Shifting tides of Panama real estate echo Miami trends

PANAMA CITY, Panama — As a real estate agent shows off a model apartment — white leather sectional, stainless steel appliances, open concept, ocean views — in the 59-story Yacht Club Tower, and touts its fitness center and pool deck designed to mimic a ship floating on the sea, he makes a telling statement:

“We tried to emulate the Miami style in this building.”

Approaching this Central American capital from the air, the first thing a traveler notices is a skyline on steroids — gleaming towers jutting skyward like so many pickets on a fence. There’s even a Trump high-rise here — the sail-shaped 72-story Trump Ocean Club International Hotel & Tower. And it’s not uncommon for those active in Miami real estate and development circles to try their luck in Panama or move back and forth between the markets.

Although Miami is nearly 1,200 miles from Panama City, the real estate markets of the two cities share certain similarities. Both went through booms and overbuilding and then had way too many empty condominiums. Wealthy Latin American buyers were a salvation in both cities when traditional segments of the market fell off.

“Now that things are starting to pick up in the States, they are picking up here too. Now that there’s not as much economic uncertainty in the United States, people feel more confident about Panama too,’’ said Morris Hafeitz, general manger of Emporium Developers. He used to work in Miami as a project manager for Odebrecht, the Brazilian conglomerate.

Now Hafeitz is trying to sell Allure at the Park, a 50-story building Emporium developed in Panama City’s Bella Vista neighborhood. The building is chock full of amenities — gym, teenage game room, adult lounge, toddler playroom, pool, squash court and even miniature golf on the roof — but one of its main selling points is that it overlooks a park and two low-rise historic buildings. “In the heart of the city without the hassles of the city,’’ said Hafeitz.

During the boom, many buildings in central Panama City went up practically on top of each other. “In the beginning of the boom there were no regulations on density,’’ said Mauricio Saba, a project manager at Zoom Development in Panama City and another Miami real estate alum. “I have a friend who said he could watch his neighbor’s TV from his balcony.’’

Margarita Sanclemente, a Miami real estate broker with offices in Panama City and New York, has seen it all — the boom, the irrational building and the slowdown — and has stuck with the Panamanian market.

She first ventured into Panama in 2005. The Panamanian real estate market, which had been sluggish for more than a decade, was undergoing a rebirth and Americans, lured by low prices and the low cost of living, were snapping up properties.

The sweet spot was the 1,000 to 1,500-square-foot apartment, sans maid’s quarters, which appealed to retirees from Canada and the United States, she said.

That was back when Americans still believed you couldn’t go wrong with real estate. “Some of the buyers didn’t even see the units. We sold them by phone,’’ Sanclemente said. Condo prices at new buildings such as Destiny averaged $98 to $120 per square foot. She herself bought a 1,000 square foot, one bedroom condo for $123,000 back in 2005.

Read More..

Three local Fantasy 5 winners take $67,943 each

TALLAHASSEE, Fla. (AP) – Four tickets — three sold in South Florida — matched all five Fantasy 5 numbers and will collect $67,943. each.

The Florida Lottery said Sunday that the winning tickets were bought in North Miami, Opa-locka, Hialeah and St. Augustine.

The numbers drawn Saturday night were 6-17-26-31-34

The 384 tickets matching four numbers won $114 each; another 10,816 tickets matching three numbers won $11 each.

.

Read More..

Saudi telco regulator suspends Mobily prepaid sim sales

(Reuters) – Saudi Arabia‘s No.2 telecom operator Etihad Etisalat Co (Mobily) has been suspended from selling pre-paid sim cards by the industry regulator, the firm said in a statement to the kingdom’s bourse on Sunday.

Mobily’s sales of pre-paid, or pay-as-you-go, sim cards will remain halted until the company “fully meets the prepaid service provisioning requirements,” the telco said in the statement.

These requirements include a September order from regulator, Communication and Information Technology Commission (CITC). This states all pre-paid sim users must enter a personal identification number when recharging their accounts and that this number must be the same as the one registered with their mobile operator when the sim card was bought, according to a statement on the CITC website.

This measure is designed to ensure customer account details are kept up to date, the CITC said.

Mobily said the financial impact of the CITC’s decision would be “insignificant”, claiming data, corporate and postpaid revenues would meet its main growth drivers.

The firm, which competes with Saudi Telecom Co (STC) and Zain Saudi, reported a 23 percent rise in third-quarter profit in October, beating forecasts.

Prepaid mobile subscriptions are typically more popular among middle and lower income groups, with telecom operators pushing customers to shift to monthly contracts that include a data allowance.

Customers on monthly, or postpaid, contracts are also less likely to switch provider, but the bulk of customers remain on pre-paid accounts.

Mobily shares were trading down 1.4 percent at 0820 GMT on the Saudi bourse.

(Reporting by Matt Smith; Editing by Dinesh Nair)

Tech News Headlines – Yahoo! News

Read More..

Larry Hagman Dies

Larry Hagman, best known for playing Dallas villain J.R. Ewing, died Friday morning from complications stemming from his recent battle with cancer.

He was 81 years old.

Video: Larry Hagman Talks 'Dallas', Cancer and Veganism

"Larry was back in his beloved Dallas, re-enacting the iconic role he loved most," his family said in a statement via The Dallas Morning News. "When he passed, he was surrounded by loved ones. It was a peaceful passing, just as he had wished for. The family requests privacy at this time."

Hagman's rep says the late actor will be cremated.

His Dallas co-stars Linda Gray (who played his wife Sue Ellen) and Patrick Duffy (who played his brother Bobby) were reportedly at his bedside when he died, The Sun is reporting.

"Larry Hagman was my best friend for 35 years. He was the Pied Piper of life and brought joy to everyone he knew," Gray told ET in a statement. "He was creative, generous, funny, loving and talented, and I will miss him enormously. He was an original and lived life to the fullest ... The world was a brighter place because of Larry Hagman."

"Friday I lost one of the greatest friends ever to grace my life. The loneliness is only what is difficult, as Larry's peace and comfort is always what is important to me, now as when he was here," Duffy said in a statement. "He was a fighter in the gentlest way, against his obstacles and for his friends. I wear his friendship with honor."

Victoria Principal, who played Pamela Barnes Ewing, added, "Larry was bigger than life ... on screen and off. He is unforgettable, and irreplaceable, to millions of fans around the world, and in the hearts of each of us, who was lucky enough to know and love him. Look out God ... Larry's leading the parade."

Video: J.R. Menaces in New 'Dallas'

Hagman, who also starred as Air Force Captain Anthony Nelson in I Dream of Jeannie, was last seen on television in TNT's Dallas reboot, where he returned to play his most well-known character.

"Larry Hagman was a giant, a larger-than-life personality whose iconic performance as J.R. Ewing will endure as one of the most indelible in entertainment history," Warner Bros., Dallas executive producers Cynthia Cidre and Michael M. Robin, and the show's cast and crew said in a statement. "He truly loved portraying this globally recognized character, and he leaves a legacy of entertainment, generosity and grace. Everyone at Warner Bros. and in the Dallas family is deeply saddened by Larry's passing, and our thoughts are with his family and dear friends during this difficult time."

"It was truly an honor to share the screen with Mr. Larry Hagman," Dallas reboot star Jesse Metcalfe, who plays Christopher Ewing, said in a statement. "With piercing wit and undeniable charm he brought to life one of the most legendary television characters of all time. But to know the man, however briefly, was to know a passion and dedication for life and acting that was profoundly inspirational."

Read More..

No way out: 112 killed in fire at 'high risk' Bangladesh garment factory

AP

Bangladeshis and firefighters battle a fire at a garment factory in the Savar neighborhood in Dhaka, Bangladesh,where more than 100 workers were killed Saturday.

DHAKA, Bangladesh — At least 112 people were killed in a fire that raced through a multi-story garment factory just outside of Bangladesh's capital, Dhaka, an official said Sunday.

The blaze broke out late Saturday at the eight-story factory operated by Tazreen Fashions Ltd., a subsidiary of the Tuba Group, which supplies Walmart and other major retailers in the U.S. and Europe.

By Sunday morning, firefighters had recovered 100 bodies, fire department Operations Director Maj. Mohammad Mahbub told The Associated Press. He said another 12 people who had suffered injuries after jumping from the building to escape the fire later died at hospitals. The death toll could rise as the search for victims was continuing, he said.

Local media reported that up to 124 people were killed in the fire. The cause of the blaze was not immediately clear, and authorities have ordered an investigation.

Army soldiers and paramilitary border guards were deployed to help police keep the situation under control as thousands of onlookers and anxious relatives of the factory workers gathered at the scene, Mahbub said. He would not say how many people were still missing.

Tazreen was given a "high risk" safety rating after May 16, 2011, audit conducted by an ethical sourcing assessor for Wal-Mart, according to a document posted on the Tuba Group's website. It did not specify the conditions or violations that led to the rating.

A spokesman for Wal-Mart said online documents indicating that the factory received an orange or "high risk" assessment after the May 2011 inspection and a yellow or "medium risk" report after an inspection in August 2011 appeared to pertain to the factory where the fire occurred.

The August 2011 letter said Wal-Mart would conduct another inspection within one year. Spokesman Kevin Gardner said it was not clear if that inspection had been conducted, or if the factory was still making products for Wal-Mart.

If a factory is rated "orange" three times in a two-year period, Wal-Mart won't place any orders for one year. The May 2011 report was the first orange rating for the factory.

There was no indication whether the violations had been fixed since the May inspection. Neither Tazreen's owner nor Tuba Group officials could be reached for comment.

AP

Smoke billows out of the building as firefighters try and bring equipment to bear.

Read More..

Is the electric car dying again?

A second administration of President Barack Obama will be forced to revisit the issue of subsidies for renewable energy and, with it, those for electric vehicles. Despite the millions of dollars spent on government incentives, marketing and promotion, sales of fully electric cars are well below projected targets. Investment in vehicle charging infrastructure also has fallen victim to budget cutbacks, limited usage and concern over the return on money spent.

Indeed, only last month, a leading automotive battery manufacturer, A123 Systems, was forced to declare bankruptcy. And the founder and CEO of Better Place, Shai Agassi, whose company (in which I was employed) promotes all-electric vehicles with batteries that can be both charged and replaced, was himself replaced due to low sales figures and high capital expenses arising from the deployment of battery-switching stations.

As a result, the question is now being raised: Are we again bearing witness to the death of the electric car?

Any such conclusion over the longer term may be premature. With declining costs and gradually improving technologies that can extend battery range beyond its current limitations, the electric car continues to hold promise. Rising gasoline prices and potential disruptions in oil supply favor alternative sources of energy.

To achieve mass market adoption, however, cars running on electricity — or any other alternative energy source — must satisfy the three “C’s”: cost, convenience and connectivity.

Few buyers are able or willing to pay more for a car running on clean energy unless the upfront cost of the car roughly equals or is below its carbon-powered alternative. Advertised savings over time in powering a car using alternative “fuels” so far have failed to persuade the average driver to buy. And while government subsidies play a role in reducing initial costs to consumers, such incentives so far have not been sufficient to attract large numbers of drivers to switch to electric vehicles.

Cars driven solely or partially by electricity or other alternative energies also must be at least as convenient as those powered exclusively by internal combustion engines. Drivers appear unwilling to sacrifice the expected hundreds of miles in driving range between refuelings. Likewise, drivers demand refueling times equal to what they are accustomed — about five minutes at the gasoline station.

Further, there must be adequate infrastructure in place to enable large numbers of drivers to connect to an alternative energy source before that source can be widely adopted. While a scattering of drivers simultaneously connecting to a power grid may not have much impact, large numbers of drivers doing so can cause major power outages that escalate absent the real-time balancing of energy loads across the network. Moreover, the environmental impact of the connected cycle between car and infrastructure, often referred to as the “well-to-wheel” balance, has to result in less pollution overall for alternative energy vehicles to achieve significant market traction.

Until the fully electric car can satisfy all three C’s, any assessment of projected vehicle sales must reflect a variety of energy sourcing options, both traditional and alternative, all competing for market share.

Gasoline and diesel likely will remain the predominant source of energy in the foreseeable future for new car buyers, with hybrid vehicles that run on both petroleum and alternative energy sources taking an increasingly larger share of the market. Although more costly than pure gasoline-driven cars, hybrids do offer a more environmentally friendly solution and provide the driving range demanded by car buyers.

Read More..

Miami-Dade Police: One dead, one wounded in Friday night shooting

Miami-Dade homicide detectives are investigating a Friday night shooting that killed one man and sent another to a hospital.

The shooting started about 8:11 p.m. in the area of 17th Avenue and Northwest 92nd Street in West Little River, according to police. People began arguing and then fighting, and then “several shots were fired,” according to a police statement.

One victim, a 22-year-old man, was killed at the scene of the shooting. A second, 40-year-old man was taken to Jackson Memorial Hospital’s Ryder Trauma Center, where police said he is listed in critical condition. Neither man has been identified.

Police are searching for the shooter.

Anyone with information should call Miami Dade CrimeStoppers at 305-471-8477.

Read More..

6 ways to tweet yourself out of a job

Hate your job? Want to leave without giving two weeks notice? Thanks to Twitter, it’s never been easier to get fired, says Rob Lammie at Mental Floss

Step 1: Drunk tweet
As any Spring Break partier knows, drinking impairs your judgment. It seems to have also impaired the judgment of Major League pitcher-turned-sports-radio-host Mike Bacsik, who put on quite a show during a San Antonio Spurs and Dallas Mavericks NBA game in April 2010. While watching the game, Bacsik bragged that he was “About 12 deep and some shots.” He proceeded to unleash a string of insults aimed at NBA commissioner David Stern, accused the refs of fixing the game, and even threatened to blow up the NBA’s offices. But the one that really got people riled up came after the Mavericks lost the game, when Bacsik tweeted: 

SEE MORE: Why popular kids make more money as adults

@MikeBacsik: “Congrats to all the dirty mexicans in San Antonio.”

After sobering up, Bacsik deleted the offending tweets and issued an apology. But it was too little, too late. Numerous people complained to his radio station, which first suspended Bacsik and later fired him. After his dismissal, he told ESPN Dallas, “When you tweet like that, it’s not a playful, harmless thing… I’m very sorry and will try my best for my actions to speak louder than my tweets.”

Step 2: Break the law (or just anger your governor)
Twitter has become a great tool for politicians to connect to the voting public. Former Mississippi Governor Haley Barbour, for one, has really embraced the technology as a way to share his opinions and views. For example, in December 2009, he sent out a tweet saying:

 @HaleyBarbour: “Glad the Legislature recognizes our dire fiscal situation. Look forward to hearing their ideas on how to trim expenses.”

Jennifer Carter, one of his Twitter followers who worked for the University of Mississippi Medical Center (UMC), read this message and offered up a suggestion on how Governor Barbour could personally save the taxpayers money:

“Schedule regular medical exams like everyone else instead of paying UMC employees overtime to do it when clinics are usually closed.” 

This “Oh, snap!” moment referred to an incident that had occurred three years earlier, when the governor requested the medical center open on a Saturday, when they were normally closed, and bring in a staff of 15-20 people who were paid overtime to administer his annual check-up. This happened before Carter worked for UMC and she was simply repeating what she had been told by other employees. 

SEE MORE: Does a shaved head give you an advantage in corporate America?

The governor’s office tracked down Carter and made a formal complaint to UMC, saying Carter had violated the Health Insurance Portability and Accountability Act, a privacy law that states no employee of a medical facility can reveal any information about a person’s “protected health information.” Some argued that Carter didn’t violate HIPAA, since she didn’t actually give out any information about the health of the governor. However, others believe that simply saying the governor had even visited a doctor is a violation. 

Semantics aside, UMC administrators said it was a violation, so they suspended Carter for three days without pay and strongly suggested she resign to avoid further disciplinary action, which she did.

SEE MORE: Facebook’s new jobs board: Is LinkedIn toast?

Step 3: Have an NSFW lifestyle
St. Louis-based blogger “The Beautiful Kind” had been writing online about her polyamorous sex life for years. Knowing that not everyone would agree with her chosen lifestyle, she was always very careful about maintaining her anonymity, especially when it came to the workplace. So when she signed up for Twitter, she wanted to be anonymous there as well. She thought that, thanks to the similarities between the two, it was like signing up for an online message board — you supplied your real name to the website privately, but could choose to be known publicly by your username only. But when she logged in for the first time and saw that, not only did it show her username (@TBK365), but also her real name on her profile, she immediately went back and removed it. 

Thinking she was now safely anonymous, she used Twitter to promote her blog and to discuss sexually explicit topics with her followers. However, when her boss at the non-profit group where she worked was told by upper management to do a Google search of all employees, TBK’s Twitter account information — with her real name still associated — came up on the Twitter tracking site topsy.com.

The next day, TBK was called into her boss’ office and fired on the spot. Afterwards, her former boss sent her a letter saying, “While I know you are a good worker and an intelligent person, I hope you try to understand that our employees are held to a different standard. When it comes to private matters, such as one’s sexual explorations and preferences, our employees must keep their affairs private.” Because Missouri is an at-will employment state, meaning employers can fire someone for just about any reason, TBK was SOL.

Step 4: Question company policy
When California Pizza Kitchen (CPK) traded in their standard white shirts for black ones, employee Tim Chantarangsu wasn’t happy with the change. So he tweeted @calpizzakitchen his opinion:

@traphik: “black button ups are the lamest s**t ever!!!”

He didn’t expect anyone to notice or care, but the next day he received a direct message from corporate asking what restaurant he worked for. He knew better than to respond, but they tracked him down anyway and he was fired. They not only referenced his tweet about the shirts, but also an earlier one where he had said he was getting ready to work at “Calipornia Skeetza Kitchen.” 

Little did they know that Chantarangsu is kind of a big deal on another social website, YouTube. Under the name TimothyDeLaGhetto2, Chantarangsu has hundreds of thousands of subscribers, accounting for over 10,500,000 views of his videos at the time. Of course he made a YouTube video telling his Twitter story and it has been viewed well more than 100,000 times. Shortly after the incident, he asked his followers to bombard CPK’s Twitter account with RTs (re-tweets) of his offending message, which they were more than happy to oblige.

Step 5: Make a celebrity look bad
During his five years on the job, Jon Barrett-Ingels had served a lot of celebrities as a waiter at Barney Greengrass, an upscale restaurant in Beverly Hills. One day, Jane Adams, star of the HBO series Hung, came in and had lunch to the tune of $ 13.44. Unfortunately, when the bill came, Adams realized she had left her wallet in the car. Ingels knew who she was, so he told her she could run out and grab it and come back. The actress left, but didn’t return. Instead, someone from her agency called the next day and paid the bill. However, they didn’t leave a tip. Ingels had recently signed up for Twitter and so, his sixth tweet to his 40 followers said:

@PapaBarrett: Jane Adams, star of HBO series “Hung” skipped out on a $ 13.44 check. Her agent called and payed the following day. NO TIP!!!” 

Over the next few weeks, Ingels started using Twitter to send out a few harmless observations about celebrities that came in to eat — mainly what they ordered or what they looked like that day. Then, out of the blue, Jane Adams came back to the restaurant. According to Ingels’ blog, she was clearly upset and begrudgingly slapped $ 3 on the bar for Ingels as a tip. Surprised, Ingels told the actress she really didn’t have to do that, but her gesture was appreciated. She allegedly replied with, “My friend read about it on Twitter!” before storming off. Adams complained about the tweet to management, so someone from Barney’s corporate started following Ingels on Twitter to see what he was up to. After reading his celebrity tweets, it didn’t take long before they gave him the boot.

Step 6: Don’t get hired in the first place
If you’ve followed steps 1 – 5 and you still have a job, here’s the ultimate way to make sure Twitter will keep you from gainful employment.

When recent college grad Skye Riley heard back from Cisco, the computer networking giant, about her job application, one of her first instincts was to tweet about it. Unfortunately, this is what she tweeted:

@theconnor: Cisco just offered me a job! Now I have to weigh the utility of a fatty paycheck against the daily commute to San Jose and hating the work.

The unfortunate part? An employee of Cisco, Tim Levad, came across her post while doing a Twitter search for Cisco. He replied to her by saying:

@timmylevad: Who is the hiring manager. I’m sure they would love to know that you will hate the work. We here at Cisco are versed in the web.

Riley’s story was the tweet heard round the world. It became a hot topic on tech blogs for weeks afterwards, with writers calling it the “Cisco Fatty” incident. She later claimed that the tweet was taken out of context — that part of her message was referring to a well-paid internship she had turned down — but it appears the damage had already been done. While only she and Cisco know what really happened, according to her online resume, she has never worked for the company.

 — Rob Lammie

More from Mental Floss:

View this article on TheWeek.com Get 4 Free Issues of The Week

Other stories from this topic:

Like on Facebook - Follow on Twitter - Sign-up for Daily Newsletter
Social Media News Headlines – Yahoo! News

Read More..

Larry Hagman Dies

Larry Hagman, best known for playing Dallas villain J.R. Ewing, died Friday morning from complications stemming from his recent battle with cancer.

He was 81 years old.

Video: Larry Hagman Talks 'Dallas', Cancer and Veganism

"Larry was back in his beloved Dallas, re-enacting the iconic role he loved most," his family said in a statement via The Dallas Morning News. "When he passed, he was surrounded by loved ones. It was a peaceful passing, just as he had wished for. The family requests privacy at this time."

Hagman's rep says the late actor will be cremated.

His Dallas co-stars Linda Gray (who played his wife Sue Ellen) and Patrick Duffy (who played his brother Bobby) were reportedly at his bedside when he died, The Sun is reporting.

"Larry Hagman was my best friend for 35 years. He was the Pied Piper of life and brought joy to everyone he knew," Gray tells ET in a statement. "He was creative, generous, funny, loving and talented, and I will miss him enormously. He was an original and lived life to the fullest ... The world was a brighter place because of Larry Hagman."

Victoria Principal, who played Pamela Barnes Ewing, added, "Larry was bigger than life ... on screen and off. He is unforgettable, and irreplaceable, to millions of fans around the world, and in the hearts of each of us, who was lucky enough to know and love him. Look out God ... Larry's leading the parade."

Video: J.R. Menaces in New 'Dallas'

Hagman, who also starred as Air Force Captain Anthony Nelson in I Dream of Jeannie, was last seen on television in TNT's Dallas reboot, where he returned to play his most well-known character.

"Larry Hagman was a giant, a larger-than-life personality whose iconic performance as J.R. Ewing will endure as one of the most indelible in entertainment history," Warner Bros., Dallas executive producers Cynthia Cidre and Michael M. Robin, and the show's cast and crew said in a statement. "He truly loved portraying this globally recognized character, and he leaves a legacy of entertainment, generosity and grace. Everyone at Warner Bros. and in the Dallas family is deeply saddened by Larry's passing, and our thoughts are with his family and dear friends during this difficult time."

"It was truly an honor to share the screen with Mr. Larry Hagman," Dallas reboot star Jesse Metcalfe, who plays Christopher Ewing, said in a statement. "With piercing wit and undeniable charm he brought to life one of the most legendary television characters of all time. But to know the man, however briefly, was to know a passion and dedication for life and acting that was profoundly inspirational."

Read More..

Confidential Nassau County police documents — including info on undercover cops — used as confetti in Macy's parade

Red-faced Nassau County officials are investigating how confidential police documents — which contained arrest records, social security numbers, and information about undercover officers — was tossed from windows as confetti during Thursday's Macy's Thanksgiving Day Parade in Midtown.

WPIX reports that paradegoers at the annual event were stunned when the poorly-shredded documents landed on city streets, with the sensitive information still clearly visible despite being cut into strips.

Among the information that could be easily seen included details of Mitt Romney's motorcade during a visit to Long Island, arrest records, and the identities, social security numbers and birth dates of Nassau County police detectives — some of whom appear to be undercover cops, the station reported,

Nassau County police spokesman Inspector Kenneth Lack told the station that the department "is very concerned about this situation" and has launched an investigation.

Macy's told the station that whoever threw the confetti did it on their own: The parade uses "commercially manufactured, multicolor confetti, not shredded paper," Macy's said.

Read More..