writedowns, page-8

Pauley,

Can you post a link to the article?

I don't think there are any issues with BJT "running the distance". There are no real liquidity, solvency or servicing issues from an internal or "micro" perspective. Asset prices and therefore BJT itself is priced down because of the Japanese economy. Having said that, BJT does have a good asset mix. Bit or retail, bit of office, and a bit of residential.

Residential = good or bad economy, people need a place to sleep

Office = even if your business produces overseas, your business still need sto shuffle paper

Retail = People need to shop and eat....can't go to Taiwan to eat if you live in Japan.

PS: Not drunk yet, but I will be soon.