The New York Times reports on Arizona. “Phoenix has achieved the unwelcome distinction of becoming the first major American city where home prices have fallen in half since the market peaked in the middle of the decade, according to data released Tuesday. ‘Even during the Depression, I’m not sure prices fell this quickly,’ said Karl Guntermann, a professor of real estate at Arizona State University.” “Greg Swann, a Phoenix real estate agent, took a moment to marvel at the news. ‘What happene

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The Prime Minister of Qatar, Sheikh Hamad bin Jassem al-Thani, was reported by a local publication as saying that Qatar is seriously contemplating to take a stake in the famous sports car maker Porsche.As it looks for more investments abroad, Qatar may also invest in other car companies. The official news agency of Qatar said that the Prime Minister is considering auto companies, including those of the German brand. Sheikh Hamad is quoted as saying that they are looking into this possibility

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