So this guy – who sounds alright – is “gentrifying-without-class-cleansing” in Panama City.
“We had a lot of painful conversations,” Mr Hardin says. “One real-estate family’s analyst asked about the free rent we gave to an after-school programme. I told him in 10 years either those kids would be working in the neighbourhood or stealing in it, so for us it was an investment. He said that was a problem as his financial models only went out five years.”
New life from old foundations
by John Paul Rathbone
Financial Times, Weds March 28, 2012
Reminds me of the old joke about the really miserly rich guy who is threatened by a robber – “your money or your life.” The victim doesn’t react immediately, and upon prompting, says “I’m thinking! I’m thinking!”