The U.S. office sector will be the slowest to recover as companies absorb empty space and advances in technology reduce the need for square footage, said Kenneth Rosen , a professor at the University of California, Berkeley.
New York City Opera, which filed for bankruptcy court protection last week after years of management missteps, told a judge at least one other cultural institution may be interested in buying some of its operations.
Three weeks into the bankruptcy of New York City Opera, there’s discussion in opera circles about how to reconstitute it under a different management to provide the country’s most populous city with an alternative to the Metropolitan Opera.
Two years ago, San Francisco offered a payroll-tax break to keep Twitter Inc., then with 400 employees, from moving its headquarters out of town. The gamble has since paid off, spurring other technology companies to choose the city as their base and boosting the local economy.
A surge in wealth from technology stock sales and initial public offerings is spilling into the Silicon Valley real estate market as newly rich workers bid up home values in suburban cities south of San Francisco.