Extended cut: Sorkin interviews Buffett on the 2008 financial crisis

When the banks began to fail in 2008, executives turned to Warren Buffett in a plea for last-minute funding.

He later called the events that followed an “economic Pearl Harbor.”

Watch the video above for an in-depth discussion between CNBC’s Andrew Ross Sorkin and the Oracle of Omaha as he reflects on the week that led to the worst financial crisis in decades.

The CNBC Original “Crisis On Wall Street: The Week That Shook The World” premieres Wednesday, 10pm ET/PT.

 

Click to watch the video www.cnbc.com .

Tax Breaks for Luxury Towers Spur Redevelopment, and Backlash

Twenty years ago, it was unimaginable that a new residential high-rise would ever adorn the modest skyline of downtown Kansas City, Mo. But in the last three years, two luxury apartment towers have opened, and a third is planned.

The buildings are part of a revitalization effort in the city’s core, but some officials are questioning whether tax abatements and other incentives given to the developer, Cordish Companies of Baltimore, are appropriate for residential projects that cater to the affluent.

Click to read more at www.nytimes.com .

Truck-stop king looks to corner hauling in chaotic Permian

America’s biggest truck-stop company wants to be the solution to some of the shortages bedeviling the Permian shale basin.

Pilot Flying J, better known for its more than 750 roadside travel centers, announced two deals earlier this year to almost double its crude-hauling capacity to 220,000 barrels a day. The company backed by Warren Buffett’s Berkshire Hathaway Inc. has plans for even more growth…

Click to read more at www.expressnews.com

Shop Cos. launches Houston office focused on retail real estate

Dallas-based Shop Cos. has established Houston office focused on retail real estate. Several seasoned professionals have joined the team since setting up shop in May.

The commercial real estate firm, which offers services such as retail brokerage, development, and investment sales, has named Chris Reyes, Christie Amezquita and Matt Reed as partners in the local office at WeWork Galleria, 2700 Post Oak Blvd.

Click to read more at www.chron.com

REITs Meet Evolving Needs of Office Space Tenants

A REIT-owned office building under construction in the Hollywood district of Los Angeles epitomizes the evolution underway in office real estate today.

The Hudson Pacific Properties, Inc(NYSE: HPP) project, dubbed “EPIC,” will eventually be a 300,000 square-foot terraced office building, situated on Sunset Boulevard, close to entertainment studios, eateries, coffee shops, theaters, and public transportation. Set to open in 2020, the interior will feature 15-foot ceilings and floor-to-ceiling windows. It will also have built-in flexibility, such as the option to link floors with open staircases. It will have electric car charging stations, bike storage, and a fitness center with showers and lockers. A street-side lobby will have a rideshare drop-off. Yet its biggest draw might be its outdoor space.

Click to read more at www.mrej.com

Post 1980s: Residential buildings drive growth in tall towers

America’s new office towers have gotten shorter since the heyday of the 1980s, when so many buildings burst onto the Houston skyline, while residential buildings are rising taller, according to a new Commercial Cafe/Yardi Matrix report.

Two of the tallest five buildings to go up in Houston since 2000 are residential, according to Yardi Systems. The apartment buildings are downtown’s Market Square Tower and 2929 Weslayan near the River Oaks neighborhood. The newest office towers are the 48-story 609 Main, 46-story 811 Main and 40-story 1500 Louisiana.

Click to read more on www.chron.com.