caption Brad Pitt on a walking tour through the Make it Right houses in 2012. source Julie Dermansky/Corbis/Getty Images Brad Pitt’s ambitious housing project tried to rebuild a New Orleans neighborhood after Hurricane Katrina, but residents are now complaining that their homes are rotting, collapsing, and caving in. The damages have generated multiple lawsuits, including one against Pitt and his foundation, Make It Right. Pitt’s lawyers petitioned to have him removed from the suit, which has now moved to federal court. Brad Pitt’s nonprofit foundation, Make It Right, started with the goal of helping New Orleans after Hurricane Katrina. As the city’s Lower 9th Ward recovered from the deadly Category 5 storm in 2005, the foundation sought to satisfy its most pressing need: housing. “We went into it incredibly naive,” Pitt told the New Orleans Times-Picayune in 2015. “Just thinking we can build homes – how hard is … [Read more...] about Brad Pitt’s post-Katrina housing project faces even more backlash after residents discover their homes are rotting and caving in
caption The bridge opened in October. source Bobby Yip/Reuters China unveiled the world’s longest sea bridge at an October ceremony in Hong Kong. The bridge saw an influx of tourists from the Chinese mainland, but Hong Kong seemed ill-prepared to deal with the traffic. The nation’s Guangdong province issued a 48-hour suspension of one-day weekend trips and imposed certain restrictions on shuttle services, leading to a major drop off in passengers. Two months after China unveiled the world’s longest sea bridge at a ceremony in Hong Kong, the nation has already struggled to accommodate an influx of tourists. In November, the Guangdong province temporarily suspended one-day weekend trips to Hong Kong to reduce the number of tourists entering from mainland China. The ban only lasted for two days, but it seemed to spark a major dip in passengers. Community members have said that restrictions to the bridge’s shuttle services are also … [Read more...] about China is running into problems with the world’s longest sea bridge, which cost $20 billion and is 20 times as long as the Golden Gate Bridge
caption A large coastal storm hits Massachusetts in March 2018. source Scott Eisen/Getty Images Around 300,000 coastal homes in the US could experience chronic flooding by 2045, placing $117.5 billion worth of residential property at risk. Despite this threat, real estate professionals in vulnerable areas say there’s still a premium on coastal homes. While rebuilding homes to withstand hurricanes or floods is an expensive undertaking, it could save entire communities from devastation. When Hurricane Michael touched down in mid-October, it destroyed rows of homes in the Florida Panhandle, leaving behind just a few surviving structures. In Mexico Beach, Florida, only one oceanfront home was left fully intact: a two-story property made of concrete and steel cables. Unlike other structures in the area, the miracle home – known as Sand Palace – had been built to withstand winds of up to 250 mph. Its owners, Russell King and Lebron Lackey, … [Read more...] about The next housing crash could be caused by weather, not Wall Street – here are the places that should be worried
caption The bridge will open to traffic on Wednesday. source Bobby Yip/Reuters After nine years of construction and controversy, China is set to officially unveil the world’s longest sea bridge on Tuesday at a ceremony in Hong Kong. At more than 34 miles long, the Hong Kong-Zhuhai-Macau Bridge is part of a master plan to create a global science and technology hub by connecting two Chinese territories, Hong Kong and Macau (the world’s largest gambling center), to nine nearby cities. With an economic output of $1.5 trillion, the new mega-region – known as the Greater Bay Area – is positioned to rival Silicon Valley. The plan also includes the construction of an $11 billion bullet train, which opened in September. The bridge is expected to open to traffic on Wednesday, though only certain vehicles – shuttles, freight cars, and private cars with permits – are allowed to cross. Pedestrians and bicyclists are prohibited. While … [Read more...] about China is about to open the world’s longest sea bridge. It cost $20 billion and is 20 times as long as the Golden Gate Bridge.
caption Melinda Gates didn’t think her future husband was “spontaneous” enough at first. source Scott Olson/Getty Images Bill Gates, the founder of Microsoft, married Melinda French in 1994. They met at Microsoft when Melinda was brought on a product manager. She initially turned down Bill’s request for a date at a company picnic. Today, they run the Bill & Melinda Gates Foundation, which has an endowment of $40.3 billion. Melinda French was less than impressed when her boss asked her out on a date. It was 1987, and the recent Duke graduate had just joined Microsoft as a product manager. CEO Bill Gates approached her at a company picnic and asked if she’d be interested in grabbing dinner in two weeks. She responded, “That’s not spontaneous enough for me,” Fortune reported in 2015. Fast-forward three decades, and Bill and Melinda Gates are married with three kids, worth $98.1 billion, … [Read more...] about Inside the marriage of Bill and Melinda Gates, who met at work, live in a $124 million home, and will leave their children only a small fraction of their $98.1 billion fortune