William Ackman

LOS ANGELES, CA -- (MARKET WIRE) -- 07/01/09 -- With desirable features like modern kitchenettes, all-new fixtures, exposed brickwork, finished concrete floors and free high-speed Internet access, over 250 affordable Micro-Lofts® hit the market today at Rosslyn Lofts in downtown L.A. This badly needed influx of quality, affordable apartments in the city's historic district is the fruition of a $20 million renovation carried out by Rosslyn Lofts Housing Partners L.P., which purchased the former Rosslyn Hotel in October 2007 for $24.5 million with the intent of transforming it into a residential building that would cater to the city's underserved downtown workforce. Built by the Hart brothers in 1913, the concrete-and-steel building at 451 S. Main Street was known for decades as the "Rosslyn Million Dollar Fireproof Hotel." Frequently featured in both Hollywood and international films, it was designed by John Parkinson, architect of Union Station, City Hall and the LA Coliseum. "The Rosslyn ...

MINNEAPOLIS--(BUSINESS WIRE)-- Target Corporation (NYSE: TGT) announced today that IVS Associates, Inc., the independent Inspector of Elections, has certified the voting results for Target's 2009 Annual Meeting of Shareholders held on May 28, 2009. Based on the final tabulation and certification by IVS Associates, Target shareholders have elected to the Target Board of Directors all four of the company's incumbent director nominees - Mary N. Dillon, Richard M. Kovacevich, George W. Tamke, and Solomon D. Trujillo. The results also confirm that shareholders have approved the proposal to set the size of the Target ...

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CHICAGO--(BUSINESS WIRE)-- GENERAL GROWTH PROPERTIES, INC. today announced the appointment of William A. Ackman to its Board of Directors. Mr. Ackman brings more than 16 years of investment fund manager and advisor experience to the Company. Mr. Ackman is the founder and managing member of the general partner of Pershing Square Capital Management, L.P., an investment advisor founded in 2003. He is a member of the Board of Dean's Advisors of Harvard Business School and a Trustee of the Pershing Square Foundation. ...

Here is a recap of the top news items from this week on Wall Street:

1. Late Friday, General Motors (NYSE: GM) officials confirmed that its UAW-represented employees have ratified the modifications to the GM-UAW 2007 National Labor Agreement. Despite this development, market players are still expecting GM to file for bankruptcy either this weekend or by Monday. Sources have indicated that the government will hold a 72.5% stake in the "new GM".

2. The so-called yield curve rose to a record 2.75% this week, indicating investor concerns related to rising levels of U.S. debt. The yield curve, which plots yields of Treasury bills along a graph ranging from shortest duration to longest, is now sloping upward to unprecedented levels as traders are worried that debt sales will overwhelm the Fed's attempts to keep borrowing costs low.

3. Commodities outperformed the broader markets this week as ...