Columbia condo tower might not get built
The developer, Florida-based WCI Communities Inc., "insists that the project is solid despite financial problems that caused it last week to announce 575 job cuts -- about a quarter of its work force," Arney reports. But others are skeptical, noting that the company is losing money and will face pressure from lenders.
"I would be shocked if WCI could actually go forward with that tower in Columbia, Md.," said Susan Berliner, a senior managing director and analyst at Bear Stearns Co. who follows the company and the homebuilding sector. "To me, there's no way it's going to get built."