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Commercial News for 12/22/14

WSJ.com: Commercial Real Estate

Thomas Kwok Found Guilty of Corruption
A jury in Hong Kong found Thomas Kwok, the co-chairman of one of Hong Kong?s biggest property developers, guilty in a corruption trial involving the city?s former No. 2 official, but found his brother, Raymond, not guilty.

In Sri Lanka's Post-Tsunami Rise, China Is Key
A town laid to waste by the 2004 Indian Ocean tsunami is now getting a $1 billion port and a new airport with the help of Chinese money. But some worry that funding comes with strings attached.

Trump Taj Mahal Expected to Remain Open, for Now
The endangered Trump Taj Mahal in Atlantic City, N.J., is expected to remain open through the weekend while lawyers work to complete a $20 million lifeline from billionaire Carl Icahn.

Las Vegas 'Player' Gets Bounced From Casino
Stockbridge Capital Partners said Sam Nazarian no longer would be involved in the management of the new SLS Las Vegas hotel and casino that Stockbridge controls.

Elevators Set to Take New Direction
ThyssenKrupp is working on a cable-free elevator that would allow multiple cars to run in the same shaft, and to run sideways and diagonally as well as up and down.

Miami Condo Project Looks to Lure Chinese Buyers
Miami has been a magnet for wealthy South American home buyers for years. Now, developers are setting their sights set on buyers from China.

Hotels Sue L.A. Over Minimum-Wage Law
Two national hotel-industry groups are suing Los Angeles, arguing a recent minimum-wage increase unfairly targets the hospitality business and that certain provisions interfere with federal labor law.

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Charles Elfsten, President
Charles A. Elfsten
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