| Louis Winnick, 85, housing advocate
MANHASSET, N.Y. - Louis Winnick, an economist who helped guide the investments of the Ford Foundation and promoted low-income home ownership, has died. He was 85. Winnick died Saturday at a hospice in Manhasset, on Long Island. The cause of death was mesothelioma, a type of lung cancer that his daughter Pamela Winnick attributed to exposure to asbestos when he worked in the Brooklyn Navy Yard during World War II. Winnick was born in Romania and came to Brooklyn when he was a year old. He graduated from Brooklyn College and earned a graduate degree in economics at Columbia University. He worked for the New York City Planning Commission and the Housing and Redevelopment Board before joining the Ford Foundation in 1962. He served as deputy vice president in the national affairs division from 1968 to 1986.
SUNDAY, JULY 23, 2006
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Puzzling actions surround Hardie asbestos debacle
WINSTON Churchill described Russia as a riddle wrapped in a mystery inside an enigma, which can also be applied to the developing debacle around the latest attempt to coax money from James Hardie for the victims of asbestos poisoning. The riddle is the Australian Tax Office's ruling that the new entity set up by James Hardie working title: Special Purpose Fund is not a charity, thereby threatening the December deal to keep money flowing to asbestos victims. The mystery is why this fund had to be set up. Why not use the existing charity, the Medical Research and Compensation Foundation, which has been channelling compensation to James Hardie's victims? And the enigma is: why do investors think James Hardie's liability to its victims has been capped and are optimistically bidding up its share price? It has not been capped; the liability each year is limited to 35 per cent of cash flow, but the time for paying it is open-ended, and on one assessment the potential future claims are equal to the company's entire intrinsic value.
Economist Louis Winnick Dies at 85
Louis Winnick, an economist who helped guide the investments of the Ford Foundation and promoted low-income home ownership, has died. He was 85. Winnick died Saturday at a hospice in Manhasset, on Long Island. The cause of death was mesothelioma, a type of lung cancer that his daughter Pamela Winnick attributed to exposure to asbestos when he worked in the Brooklyn Navy Yard during World War II. Winnick was born in Romania and came to Brooklyn when he was 1. He graduated from Brooklyn College and earned a graduate degree in economics at Columbia University. He worked for the New York City Planning Commission and the Housing and Redevelopment Board before joining the Ford Foundation in 1962. He served as deputy vice president in the national affairs division from 1968 to 1986.
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