|
This past week, Barclays Capital added an exchange-traded note that tracks the Indian stock market. ETNs are senior, unsecured debt securities issued by the London-based bank that are traded like a stock, and where returns are linked to the performance of a market index. Philippe El-Asmar, managing director and head of investor solutions for Barclays Capital, said the Indian-linked ETN is for people that "understand emerging markets are more risky, but realize its a good way to diversify their portfolio." He said the company has seen increasing interest this past year for financial instruments that track Russia, India and China. "We're finding ways for them to get easier access," he said. And more are on the way. The New York Stock Exchange hopes to roll out new ETF products once it closes its acquisition of Paris-based Euronext NV.
It took nearly seven months, but the town's planning board has finalized a recommendation for the town board on a revised conservation reserve district. The town board will consider the planning board's recommendation when it meets Jan. 8 at 7 p.m. In May, residents who noticed that conservation reserve districts were on both ends of Sunset Beach island complained, said town administrator Linda Fluegel. To make matters worse, an investigation into the ordinance that created such a district in 1993 had the town's attorney seeking an outside legal opinion as to whether the residents could challenge the validity of the district if the town never gave proper notification to adjoining property owners. The legality issue was settled, giving the planning board the go-ahead to clarify its ordinance.
The foundation is in and workers have begun framing the first home in Gray Goose Estates, a new subdivision in Westbrook. It's a 1,400-square-foot cape with a base price of $204,000, roughly $50,000 below the median home price in Cumberland County. That price point is no accident. The builder, Windham-based Custom Built Homes of Maine, had initially planned "move-up" homes, with garages, paved driveways, gas fireplaces and other extras that would sell for $270,000 or so. But as the housing market slowed and potential customers had trouble selling existing homes, the builder redesigned the project to make it more affordable for first-time homebuyers. The strategy is working. Five of the 20 homes in the first phase went under contract quickly. Cutting amenities is one way southern Maine homebuilders are weathering the national downturn.
|
