| Wall Street wants to be Grandma's landlord
Not the memory-lapse kind. Rather, the kind where big investors go wild over senior housing, pumping billions into buying and expanding companies that house and care for aging Americans. Nobody's forgotten how the sector was swamped with bankruptcies after the last wave of Wall Street overinvestment, in the late 1990s. Or have they? "It was irresponsible growth because Wall Street was pushing them to grow," recalls Dan Madsen, president and CEO of Seattle-based and privately held Leisure Care, which runs 40 senior communities. "They were just popping (new projects) out like 7-Elevens." As before, Pacific Northwest companies are in the thick of the recent investment action. The granddaddy of deals was quietly unveiled right before Christmas when hard-charging hedge fund Fortress Investments agreed to pay an estimated $6 billion for one of the nation's largest operators of senior housing projects, Holiday Retirement of Salem, Ore.
The 'death trap' menacing middle Britain is a myth
As Gordon Brown finalises his budget, the bleatings of the "middle Britain" lobby are reaching a climax. The Daily Express and the Daily Mail compete in the virulence with which they denounce inheritance tax - the "death trap" as some ingenious subeditor has dubbed it. As a Labour peer I hope that the chancellor is going to show more backbone in resisting their blandishments than Tony Blair has ever shown, and here is why. First, let's get the facts clear. Inheritance tax is not a tax on middle Britain at all. It is a tax on the rich. To be liable for it, even in theory, you need to have more than £285,000 in assets. In the tax year 2006-07, only the top 6% of estates will be liable. .
If you care full-time for aging parents, you may be due a tax break
If you care for an aging parent, you're not alone. The National Alliance for Caregiving and the AARP estimate that 21 percent of all American adults care for other adults. Seven million Americans take care of someone 55 or older and live at least an hour away, a Pew Center study reports. And that number is growing - it is expected to double within 15 years.There is some tax relief for adult children who support their aging parents. You can reduce your 2006 taxable income by $3,300 if you claim a parent as your dependent.
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Briefs: Leads sought in death of man outside bar
Pittsburgh police homicide detectives say they hope some of the many people at a Homewood bar early Wednesday witnessed the fatal shooting of a man outside. The victim, a 32-year-old Duquesne man whose name wasn't released because his relatives haven't been notified, died about 3 a.m. at UPMC Presbyterian in Oakland, police said. Officers were called to the 7101 Lounge on Frankstown Avenue for a large fight shortly about 2 a.m. As police and bar security guards broke up the fight and dispersed the crowd, they were told a man was on the ground outside. Investigators are unsure if the fight inside the bar is related to the victim's slaying outside. Anyone with information is asked to call 412-323-7161. .
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