Date: June 14th, 2007

Selling the family silver

14 June, 2007 (10:18) | Public housing | 1 comment

What does a business do when it’s losing money, has exhausted its internal cash reserves, has cut its operating expenses to the bone, and cannot raise capital?  Aside from insolvency, there’s only one thing to do: start selling assets.

It’s either the silver or the chateau
 
That predicament now confronts the New York City Housing Authority, [...]