jerry i. speyer ( born june 23 , 1940 ) is an american real estate developer .

he is one of two founding partners of the new york real estate company tishman speyer , which controls the rockefeller center and the chrysler building .

jerry speyer

leaders interview with jerry i . speyer , chairman and co - chief executive officer , tishman speyer
an interview with jerry i . speyer , chairman and co - chief executive officer , tishman speyer
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real estate baron jerry speyer developed landmarks like rockefeller center and the chrysler building in manhattan .
click here to download a pdf of an interview with jerry i . speyer , chairman and co - chief executive officer , tishman speyer
henry kravis is a founding partner of the leveraged buyout firm kohlberg kravis roberts ; jerry speyer is president and ceo of tishman speyer properties .
jerry is the chairman of tishman speyer and his son rob is ceo . until 2015 , they held co - ceo titles .
the president : he didn’t have to say his name . he was ready to say his name — we know . jerry speyer , everybody .
the mansion will be the home of jerry i . speyer , president of tishman speyer properties and past chairman of the real estate board of new york . mr . speyer declined to talk about the mansion ' s design - - or anything else .
paul tishman ( uncle ) john l . tishman ( cousin ) jerry speyer ( son - in - law ) alan v . tishman ( brother )
my friendship with our college roommate , jerry speyer , has also been central to my life —and especially deep . jerry was there for me during my campaign to recover my life without eyesight . that campaign continues , and jerry is still with me , as he has always been — to this very moment . in 2008 , jerry delivered a commencement address at columbia ' s business school talking about a critical and memorable moment for the three of us after i returned to columbia , newly blinded .
he hired her at tishman speyer in 1984 . they became romantically involved years later , after speyer split from his first wife , lynne , in 1987 . speyer and farley married in 1991 .
every few years the new york cultural world produces a power couple of the moment . by any measure this particular moment belongs to jerry i . speyer and katherine g . farley .
ms . farley went to mr . speyer , and mr . speyer found the tenant other quarters for the run of the performance .
i congratulate jerry speyer on his new leadership position ,
responded mr . menschel .
jerry is an outstanding example of a highly intelligent , extremely successful individual who uses his significant abilities to give back . more importantly , jerry is steadfastly committed to the museum ' s mission . he is an enthusiastic collector of contemporary and modern art , and will continue to share his special knowledge and enthusiasm with moma as it moves forward .
he said no , in part because mr . speyer and ms . farley , a senior managing director at tishman speyer , so often say yes .
katherine farley , just named chairwoman of lincoln center , is the wife of jerry speyer , chairman of moma . how much philanthropy can one couple handle—even with a net worth of $ 1 . 5 billion ?
because there were no models for the type of institution we envisioned , we had to build one . henry kravis , chairman of the board , jerry speyer , vice president , the new york city investment fund 2 .
jerry speyer the lifeblood , the heart , of the fund is its network of investors , board members , and volunteers , including their connections . let’s see how it works at a june 12 , 2001 reception in midtown manhattan .
mr . speyer is chairman of tishman speyer . he is one of the two founding partners of the company , formed in 1978 . he remains involved in the company enterprise .
mr . speyer formed tishman speyer properties in 1978 . from 1966 to 1978 , he served as senior vice president and director of tishman realty & construction co . , inc . mr . speyer began his career in 1964 as assistant to the vice president of madison square garden .
what a tuesday for jerry speyer ! first , his firm partners with lehman brothers to buy apartment behemoth archstone - smith in a historic deal worth $ 22 . 2 billion . then , the board of trustees of the museum of modern art elects him its chairman . effective july 1 , mr . speyer will take over from outgoing chairman robert menschel .
speyer is chairman of the museum of modern art and vice chairman of new york presbyterian hospital .
new york – the board of governors of the federal reserve system designated jerry i . speyer chairman of the board of directors of the federal reserve bank of new york for 2007 . he was also reappointed a class c director for this period . mr . speyer , who is president and chief executive officer of tishman speyer , has served as a class c director and deputy chairman since january 2004 . he joined the board as a class b director in 2001 .
the couple met at tishman speyer , where ms . farley was hired in 1984 . they began dating in 1988 , a year after the divorce of mr . speyer and lynne tishman , whose great - grandfather julius tishman founded the realty and construction company that became tishman speyer . mr . speyer and ms . farley were married in 1991 . they have a daughter ; he has three children from his previous marriage .
( fortune magazine ) - - social humiliation loomed . it was just moments before the dinner was to begin , and a senior executive at real estate firm tishman speyer realized that he had no idea which titles to use to properly introduce his guests , a group of american diplomats . flummoxed , he called carole karpel , executive assistant to jerry speyer , tishman ' s chairman and co - ceo .
when power brokers like donald trump and george steinbrenner met on a panel that developed plans to build a domed stadium in new york , the real estate developer jerry i . speyer was all but overshadowed . but he was quietly building his own empire . although the stadium plan ultimately failed , mr . speyer made the most of the effort : he bought the midtown tower where the panel held its meetings .
sanford greenberg , a washington businessman who roomed with mr . speyer at columbia , recalls :
jerry always had a sense of perspective . he had visions , goals and he lacked cynicism .
the two had a third roommate , the musician art garfunkel , and all three remain close today .
jerry speyer , president & ceo of tishman speyer properties , has been as a member of the moma board of trustees since 1982 . he becomes chairman after serving as vice chairman since 1996 . he was integral to the new building project and instrumental in the museum’s sale of the west end properties . in addition to acting as a member of the executive committee and chairing the fund for the 21 st century and the development committee , mr . speyer has been a member of the nominating committee , finance committee , ad hoc committee on government relations , committee on painting and sculpture , new building committee , and library council . mr . speyer has been listed since 2004 in
gov . george e . pataki last month asked mr . speyer , the president and chief executive of tishman speyer properties , to raise $ 600 million for a memorial , museum and performing arts center at the world trade center site .
the exhibition is made possible by the andy warhol foundation for the visual arts , the horace w . goldsmith foundation , moma’s wallis annenberg fund for innovation in contemporary art through the annenberg foundation , the julia stoschek foundation , jerry i . speyer and katherine g . farley , the jacques and natasha gelman trust , and the moma ps1 board of directors .
“the board of trustees looks forward with great anticipation to working under the leadership of jerry speyer , ” ms . kravis said . “jerry has long been a committed , trusted , and valuable member of moma’s board , and we fully appreciate the additional commitment he exhibits in taking on this new role . at the same time , we honor bob menschel , who has been an exemplary chairman . we are extremely pleased that bob remains with us as chairman emeritus and look forward to many more years of working closely with him . we also welcome leon black as a vice chairman . ”
speyer and his wife , katherine , were ranked one among the
top 200 art collectors
by artnews from 2012 to 2015 .
real estate sources , who were skittish about discussing anything about the project or their dealings with mr . speyer , say mr . speyer had spent at least three years looking at a number of large co - op and condominium apartments as well as several wide townhouses .
jerry speyer is one of the two founding partners of tishman speyer . he is also chairman of the museum of modern art and vice chair of new york - presbyterian hospital . he is the former chairman of the board of directors of the federal reserve bank of new york ; chairman emeritus of columbia university ; chairman emeritus of the real estate board of new york ; chair emeritus of the partnership for new york city ; and past president of the board of trustees of the dalton school . speyer’s other board affiliations include yankee global enterprises , the economic club of new york , and the asia society . he is a member of the council on foreign relations and the business roundtable . speyer graduated from columbia college in 1962 and columbia university graduate school of business in 1964
tishman speyer has developed over 152 million square feet , including skyscrapers in new york , chicago , berlin , london , frankfurt and paris .
that is not to say that mr . speyer and ms . farley hesitate to deploy their connections and expertise on behalf of their cultural interests .
glenn d . lowry , moma director , commented :
the museum of modern art’s trustees are among the most dedicated in the world , and we have been fortunate to have had so many remarkable chairmen guide the museum , including , most recently , bob menschel who has done an outstanding job in overseeing the museum’s transition into its new space . jerry speyer continues this tradition with his love of contemporary art and his understanding of the museum gained over 25 years as trustee . as one of new york city’s foremost civic leaders , jerry brings an extraordinary range of talent to the job and we all look forward to working with him in the coming years . ”
some people say that mr . speyer comes closest to being his generation ' s david rockefeller . the two men have been friends since 1982 , when mr . speyer joined the board of the modern , where mr . rockefeller is chairman . they are now partners in the ownership of rockefeller center .
sanford d . greenberg : i could tell you that i lost my eyesight while pitching in a baseball game . or when boarding a subway car . or while speaking on behalf of the presidential campaign of the young john kennedy . or while eating pizza with my roommates , art garfunkel and jerry speyer . or during a final exam . i could say any of that . yet none of that would matter .
' ' speyer called me up and said , ' if we guarantee you $ 5 . 5 million , will you give us an exclusive for 60 days ? ' ' ' mr . bernhard recalled . ' ' he did , and he now manages the building . another bidder was very irritated with me . but jerry took an aggressive point of view , and nobody else came forward with anything like that . ' '
tishman speyer is committed to fostering a workplace that respects and values diversity , for we know that our long - term growth and impact depend on it .
speyer started the firm with his late father - in - law , robert tishman , in 1978 . the marriage ended in divorce , but the company survived .
the most exclusive of these clubs was clearly the modern , which speyer was invited to join in 1982 . the rockefellers had been co - founders of the museum , and david rockefeller remained a major force in its affairs when speyer joined . the board had always been open to jews , but not to real - estate men . speyer was , however , the right kind of real - estate man . and he was eager to be of service . soon after speyer joined the board , rockefeller recalls , ' ' he asked if we could have lunch , and he made it clear that he wanted to be in the inner circle of the museum . ' ' rockefeller , of course , had been born into the inner circle ; speyer was willing to make the effort needed to get there .
today tishman speyer owns or manages 25 million square feet of office space on three continents , a portfolio that in manhattan includes rockefeller center , the chrysler building and the lipstick building . after selling heavily in the last two years , mr . speyer became a buyer early this year , adding $ 1 billion in properties .
and mr . speyer has begun building an upper east side home at a cost of about $ 10 million , one of the few mansions built in decades in new york city . it is an uncharacteristic case of conspicuous consumption , given his low - key reputation .
with jerry , there ' s not a long limo and there are no fancy parties ,
said steve spinola , chairman of the real estate board of new york .
while many of nyc’s billionaires made their fortunes in finance and media , 11 of them built — or inherited — real estate empires , including stephen ross , richard lefrak , donald trump , jerry speyer , leonard stern , sheldon solow , john catsimatidis , jeff sutton , mortimer zuckerman , david walentas , alexander rovt and leon charney ( who died last month ) . while their commercial holdings are well documented , their personal residences are less so .
all the circles of mr . speyer ' s life connected in 1997 , when he was one of the finalists in the hotly contested bidding for the chrysler building .
over a series of interviews , mr . speyer is charming , yet guarded . when he is prodded to talk about himself , he smiles , but speaks through clenched teeth .
it ' s not in either my personal or business interest to be a highly visible person ,
he explained . he seems to long to be thought of as a regular guy .
i eat tuna fish everyday for lunch ,
he said .
that ' s all i ever have .
( it ' s true . but it ' s often of the $ 30 variety at the four seasons . ) his late father , a shoe manufacturer who fled nazi germany and immigrated to the united states , moved his family from milwaukee to new york city when jerry was 3 months old . so successful was the elder mr . speyer at investing the profits from his businesses , he never worked a day after the age of 52 .
he was a great trader ,
jerry speyer said , shaking his head and grinning in awe of his father ' s achievements .
—in elections held yesterday by the board of trustees of the museum of modern art , jerry i . speyer was elected as chairman , succeeding robert b . menschel . leon black was elected a vice chairman , joining sid r . bass , kathleen fuld , and mimi haas in that capacity . donald b . marron becomes president emeritus . marie - josée kravis , elected president in june 2005 , remains in office . the elections are effective july 1 , 2007 .
mr . speyer : mr . president , you’re doing a great job , and we’re all really grateful to you for the sacrifices you’re making . hope you heard that .
but few think of jerry speyer as cheap or tasteless . he has spent more than 30 years and millions of dollars satisfying his penchant for contemporary art . the reception areas of many of his buildings are filled with the work of his favorites , like frank stella , julian schnabel and eric fischl . he is a board member of the museum of modern art and the hirshhorn museum . his new mansion , people familiar with the plans say , is being designed around his art collection .
four years ago , mr . speyer married katherine g . farley , whom he hired in 1984 to oversee international development at the company . the couple have a 3 - year - old daughter , laura . one of mr . speyer ' s three adult children , valerie , works at tishman speyer . his son , robert , is a reporter at the daily news . ( the developer says he gives no news tips to his son . ) a younger daughter , holly , works in production for the television show
central park west .
in conversation , speyer often told me how he preferred to ' ' fly beneath the radar . ' ' and yet he agreed not only to talk to me but also to let me watch as he met with his own executives , other developers , major tenants and officials at the modern . he even tried to get me into a private meeting at gracie mansion . when i asked , speyer couldn ' t say why he had so opened himself up for scrutiny . perhaps he is something of a mystery even to himself . burt lehman , a corporate lawyer and a friend of speyer ' s since college , observes that ' ' jerry loves the image of being a very important man in new york without necessarily cultivating that the way a donald trump does . ' ' there is a kind of exalted standing that comes of not being seen to seek any standing at all .
tennery , amy .
tishman speyer co - founder robert tishman dies at 94
, the real deal ( magazine ) , october 12 , 2010 . accessed october 13 , 2010 .
the tishman speyer co - founder spent an estimated $ 10 million to build this 7 , 900 - square - foot limestone mansion . speyer reportedly paid $ 3 million in 1997 for adjoining victorian brownstones at 174 and 176 east 72nd , which he later demolished to make way for the three - story house , which includes five fireplaces , a basement swimming pool and two gardens .
mr . speyer , meanwhile , has positioned himself above the rough and tumble of the real estate world , a role that has at times put him at odds with his real estate brethren .
while the real estate board of new york actively opposed mayor michael r . bloomberg ' s property tax increase last year , for example , mr . speyer and the partnership for new york city supported it . today mr . speyer and the partnership favor mr . bloomberg ' s plan to give middle - class homeowners a $ 400 tax rebate , while the real estate board opposes it .
you can learn a good deal about jerry speyer from watching him eat . one morning in september , i joined him for breakfast at the carlyle hotel , where he had agreed to meet with p . c . chatterjee , who runs a global - investment company . speyer occupied the restaurant ' s seat of honor , on a flowered circular banquette beneath a magnificent urn brimming with white lilies and pear leaves . he and chatterjee exchanged global - economy chitchat - - the millennium bug , the euro conversion , the ' ' software gap . ' ' speyer ordered one of those bizarre breakfasts consumed almost only by powerful middle - aged men : an egg - white omelet , very well done , with seven - grain toast . as chatterjee tried unsuccessfully to interest him in a real - estate joint venture - - too small , too much risk for the profit - - speyer lapsed into one of his disconcerting silences . he began to consume his meal with comical fastidiousness , cutting the omelet into identical rectangles and pushing each one in turn against the edge of his toast until it rested on the center of his fork . it was a performance that seem designed either to rein in a large appetite or to impose a kind of transcendent tidiness on the act of eating . not coincidentally , speyer ' s princely demeanor had the effect of unsettling chatterjee .
mr . speyer is chairman of tishman speyer . he is one of the two founding partners of the company , which was formed in 1978 . mr . speyer is chairman of the museum of modern art . he is vice chair of new york presbyterian hospital . he is the former chairman of the board of directors , the federal reserve bank of new york ; chairman emeritus of columbia university ; chairman emeritus of the real estate board of new york ; chair emeritus partnership for new york city ; and past president of the board of trustees of the dalton school . mr . speyer’s other board affiliations include yankee global enterprises , the economic club of new york , the municipal art society of new york , columbia business school board of overseers , the asia society and national september 11 memorial & museum . he is a member of the council on foreign relations and the business roundtable . mr . speyer graduated from columbia college and received an m . b . a . from columbia university graduate school of business .
' ' jerry draws the hardest line i ' ve ever seen between his business interests and his philanthropic interests , ' ' she said . he refused , for example , to help the partnership lobby governor pataki on behalf of a proposal by goldman sachs to build a new headquarters in lower manhattan , because he was involved in goldman ' s project .
what mr . trump was to the flamboyant 80 ' s , mr . speyer is becoming to the more reserved 90 ' s . instead of being a celebrated master of the real estate universe , mr . speyer is more like the forrest gump of new york developers , landing in the right place at the right time and remaining unscathed as he ambles his way to the top of an industry littered with carcasses .
speyer always met me in the conference room rather than in his adjoining office . one morning , i persuaded speyer ' s longtime assistant , carol karpel , to let me see the office . speyer ' s desk was littered with toy trucks and taxis and all sorts of bric - a - brac . there was a relaxed and cluttered feel to the place that was almost the reverse of the austerely tasteful decor of the conference room - - the cozy private space of a man who arranges his public space with great care . speyer came in and quickly led me back outside . about half an hour later , while we were talking about something else , he blurted out : ' ' i was really shocked when i walked into the room and you were there in my office . i never meet people outside the company in my office . ' '
ms . farley and mr . speyer were on opposite sides of the table . they are close friends of sanford i . weill , the chairman of carnegie hall and of citigroup , and his wife , joan . mr . speyer is on carnegie hall ' s board with mr . weill , and the two men and their companies have done business together . ms . farley is on the ailey board with ms . weill .
speyer and his first wife separated in 1987 . that should have marked the end of tishman speyer , but the business relationship was , by all accounts , undisturbed . ' ' it was about the most decent divorce i ' ve ever heard of , ' ' bob tishman says . ' ' there was no reason in the world to destroy what we built up over 20 - something years . ' ' in fact , tishman still has an emeritus role at the firm . speyer , meanwhile , married katherine in 1991 . in addition to three children from his first marriage , he has a 6 - year - old daughter from his second .
at tishman speyer , we cultivate a merit - based workplace where we reward our employees based on their ability to produce results . we also promote from within whenever possible , knowing that our future leaders emerge as their skills and experiences multiply . tishman speyer’s compensation structure is competitive within the industry and includes base salary , bonuses and long - term incentives—components that are all designed to reinforce and reward our global performance and culture of teamwork .
using a combination of social connections and aggressive bargaining , mr . speyer outmaneuvered the other bidders with a phone call to the chairman of cooper union , robert a . bernhard . mr . bernhard , a friend of the tishman family , said he and mr . speyer had known each other for years . they were both members of the century country club in purchase , n . y . , and shared an interest in the arts .
tishman speyer strives to give our employees exciting challenges that not only broaden their skill sets , but enhance career satisfaction . many of our executives have moved into different parts of the company and to offices around the world .
of course , there are financial advantages to owning a mansion rather than just renting one , although mr . speyer might have trouble getting his $ 10 million back if he decides , someday , that he wants something cozier .
' ' clearly he has a wealth of contacts and experience that is invaluable when you ' re doing a big building project , ' ' said glenn d . lowry , the museum ' s director . ' ' the museum of modern art has no clout in the construction world , has no connection to city planners . having someone like jerry on the board makes all the difference . ' '
kind of interests , passion and hobbies : art description : speyer has a collection of artwork displayed at his various properties . it includes artwork by his favorite artists , jeff koons and frank stella . especially interested in contemporary art .
the partnership between the two men has endured , even outlasting the speyers ' s marriage , which ended after 24 years and three children . although he said he still has a good relationship with his ex - wife , mr . speyer refused to talk about their life together . lynne tishman speyer , a social worker who lives in a contemporary upper east side town house the couple built in the 80 ' s , did not respond to messages seeking comment .
but mr . halstead said that getting his money back is probably
a distant second in consideration .
he said mr . speyer does not care about the cost of the house ,
and he probably shouldn ' t .
kathryn s . wylde , president of the partnership for new york city , a civic - business organization founded in the 1970 ' s by david rockefeller , said that mr . speyer was scrupulous about separating the various facets of his life .
when the museum of modern art wanted to buy the dorset hotel on 53rd street as part of its expansion , mr . speyer used his relationship with the owners to persuade them to sell the building for $ 50 million rather than $ 75 million .
mr . speyer : i think from new york’s point of view we send a lot of money into the economy . as a number of people have said , it’s over a trillion dollars . we’re worried we’re going to have a problem with congress .
but she praised mr . speyer for not building as high as he might have . zoning regulations would have allowed him to go up at least 12 stories , and instead of building 7 , 900 square feet he could have built 34 , 055 , according to the city building applications . mrs . millard said she has not seen a design for what is to be built , but said that if mr . speyer
does something modern with taste , we can ' t be against it .
taste , like beauty , may be in the eye of the beholder , but mr . speyer could make a legitimate claim to having it . he is a member of the board of the museum of modern art and a collector of abstract art .
in recent years , mr . speyer has triumphed in his timing of the real estate market . as prices tumbled during the late 80 ' s , he scaled back domestic operations , refinanced debt , and went into europe , where most other developers feared that smaller markets would mean weak demand . however , tishman speyer ' s success with major projects in frankfurt and berlin burnished his professional reputation and positioned him to resurge in the united states and pursue distressed properties like rockefeller center and the world financial center .
as the fund’s network has expanded and developed , it is little wonder that henry kravis and jerry speyer emphasize that the network of business leaders and industry experts , entrepreneurs , and venture capitalists is the fund’s “real success - and its legacy to the city . ” 10 . of course , the extraordinary capacity of this network has to be put to use - and figuring out how to do this involves making investments that generate benefits for a place - for new york city - not just for a business . this means learning to invest in ways that create social outcomes - job generation , neighborhood redevelopment , environmental improvement , and essential , missing services provisions - not just financial outcomes captured by business .
and because amec construction management , the company responsible for the museum ' s $ 858 million renovation , recently said that it would go out of business in two to three years , mr . speyer ' s team has enhanced its oversight of the project .
jerry , i think , has been very good at predicting where the market is ,
said mr . spinola of the real estate board .
he ' s very shrewd and smart in understanding the true value of projects . so i think his looking at some of these deals in new york is an indication that those properties have significant untapped value and this may be the time to step in and take advantage of that value .
mr . speyer ' s other board affiliations include yankee global enterprises , columbia business school board of overseers , the national september 11 memorial & museum , the national committee on united states - china relations and the kennedy center corporate fund board . he is a trustee of the stã¤del museum in frankfurt and a member of the council on foreign relations , the business roundtable and the american academy of arts and sciences . mr . speyer holds a ba from columbia college and an mba from columbia university graduate school of business .
president of the speyer family foundation . in 2013 , the foundation had assets exceeding $ 900 , 000 and donated more than $ 5 million ; gives primarily to arts and culture , civil and human rights , education , health , social and human services , and jewish organizations . recipients include : museum of modern art , newyork - presbyterian fund , lincoln center for the performing arts , the dalton school and central synagogue . speyer has had a major presence on some of the most significant nonprofit boards in new york .
in major markets across the globe , tishman speyer’s portfolio of landmark properties is second to none . but it’s our people who enable our success . regardless of title or job description , our employees use their drive , intelligence and creativity to achieve excellence every day .
among his many professional and civic associations , mr . speyer is vice chairman of the museum of modern art , the rand corporation and the new york presbyterian hospital , and his board affiliations include yankeenets and the new york presbyterian foundation , inc . he is also a member of the council on foreign relations . mr . speyer has been chairman of the new york city partnership , columbia university and the real estate board of new york , and has also served as president of the board of trustees of the dalton school .
it was in this family - - about as blue - blooded as they come in the real estate business - - that mr . speyer discovered the value of quiet observation and letting results do the talking .
one of the greatest listeners i know is bob tishman ,
mr . speyer said .
that has probably had the greatest impact on my life than any other thing .
in an interview , robert tishman , who at age 79 is no longer involved in the company ' s day - to - day activity , called mr . speyer
a very smart man
who has
stayed out of the public eye for the same reason that i did when i ran the company . i don ' t believe that this sort of company should be personalized .
several friends of speyer ' s suggested that he looked to rockefeller as a kind of exemplar - - a distant , glittering polestar of quiet power and public regard . when i asked speyer what he thought of rockefeller , he fell to musing , and finally said , in his softest and most silken tones , ' ' he ' s one of the most thoughtful people i ' ve ever met in my life . ' ' he thought some more . ' ' and modest , ' ' he added , ' ' extraordinarily modest . ' ' one can imagine speyer wanting to have those very words carved on his tombstone . i asked if his friendship with rockefeller included a feeling of emulation . now there was a very , very long pause . at last , looking somewhere over my shoulder , halting to reflect every few words , speyer said : ' ' i would say that david is probably an absolutely unique person in this century . it would be pretty presumptuous for me to think of him as a role model . it would be absurd . ' '
speyer graduated from columbia university in 1964 and started his career in the same year as an assistant to the vice president of madison square garden . later worked for a company that built middle - income housing in new york . in 1966 , he joined his father - in - law robert tishman ' s company tishman realty & construction , where he served as senior vice president . in 1978 , he and robert tishman liquidated tishman realty & construction and founded tishman speyer properties , a real estate company , which is presently known as . . .
over the past several months , i spent a good deal of time sitting at speyer ' s conference table while he considered deals and met with industry figures . the table itself was a beautiful slab of blond , burled wood with slender drawers for yellow pads and pencils and a little square of black marble in the center where an extra pair of speyer ' s glasses always rested . a maid in a light blue uniform with an apron would come in with a glass of cold water or diet coke on a silver tray . it was all quite immaculate .
but there is no sign that the abandonment of the merger eroded the couple ' s standing , a tribute to mr . speyer and ms . farley ' s tireless work for various groups and perhaps to the healing power of money , which in their case comes from real estate .
sarah arison sid r . bass lawrence b . benenson leon d . black david booth clarissa alcock bronfman patricia phelps de cisneros steven cohen edith cooper paula crown david dechman anne dias griffin glenn dubin joel s . ehrenkranz john elkann laurence fink glenn fuhrman kathleen fuld howard gardner agnes gund mimi haas marlene hess ronnie heyman ac hudgins barbara jakobson werner h . kramarsky jill kraus marie - josée kravis ronald s . lauder michael lynne donald b . marron robert b . menschel khalil gibran muhammad philip s . niarchos james g . niven peter norton daniel s . och maja oeri michael s . ovitz emily rauh pulitzer sharon percy rockefeller richard e . salomon anna marie shapiro anna deavere smith jerry i . speyer ricardo steinbruch jon stryker daniel sundheim tony tamer steven tananbaum alice m . tisch edgar wachenheim iii gary winnick
tishman died at the age of 94 on october 11 , 2010 , at his home in manhattan . he is survived by his two daughters , lynne speyer and nancy gonchar , six grandchildren and 12 great - grandchildren . [ 3 ] his wife phyllis gordon had died in july 1985 . [ 8 ]
several agents said that mr . speyer ' s decision may have been influenced by the fact that 72d street , unlike much of the most desirable part of the upper east side , is not in a historic district , where his plans would have have had to pass review by the landmarks preservation commission .
mr . speyer : well , that , too . that , too . but we’re worried about various programs that help the city . the city is doing fine right now — even the yankees are doing fine . but what we’re really concerned about is the future . do you have any advice for us ?
according to blueprints filed with the city , mr . speyer ' s house will be a cream - colored , mondrian - like assemblage of limestone , bead - blasted textured glass and metal panels . the door will be simple and flush - mounted at street level . ornaments will be kept to a minimum .
one afternoon , we went into the lobby of 50 rockefeller center ; in an area where two stores once stood there was now a marble wall pierced by a frosted - glass rectangle . the glass has been carved with arcing motifs that evoke the art deco vocabulary of the surrounding architecture . as we stood there , speyer asked me proudly , ' ' if you had never been here before , would you be able to tell that the lobby was redone ? ' ' you would not , i thought . it was , like speyer himself , a study in the artful and intricate superimposition of the new upon the old .
in the fall of 2002 , for example , they were co - chairmen for the opening gala at carnegie hall . after a reception and chicago symphony orchestra concert of ravel and bizet , mr . speyer and ms . farley presided over a dinner for 850 at the waldorf - astoria that raised $ 2 million .
only a handful of contemporary new houses have been built on the upper east side in the last decade , according to mr . halstead and other real estate agents . one of them , a limestone and glass house at 209 east 71st street between second and third avenues , was owned by mr . speyer himself .
real estate agents said mr . speyer was know to be very particular ; he wanted large rooms in a specific layout , so he decided to build . to a few real estate agents , his choice of east 72d , and not a quiet side street , was somewhat surprising because of his penchant for privacy .
… is helped by his … with carnegie hall , where speyer sat on the executive committee . ( they may have had help from sanford weill , carnegie’s chairman , and his wife , joan , who’s on the alvin ailey board with farley . ) the deal broke down over the allocation of performance time for the orchestra .
his personal profile is also on the rise . yesterday , mr . speyer ( pronounced spy - er ) presided over his first meeting as chairman of the trustees of columbia university , his alma mater . he has also served as an adviser to political leaders , including mayor rudolph w . giuliani and mario m . cuomo .
this is the sort of ubiquitous do - gooding that gets noticed in new york , where social , business and philanthropic interests merge in a swirl of boardroom dramas , benefit dinners and opening night galas . mr . speyer , 63 , and ms . farley , 54 , say they do not seek the attention ; they declined to be interviewed for this article . but they have become bona fide new york royalty . ' ' jerry and his wife play a very important role that bridges the business and cultural communities in the city , ' ' said the financier felix g . rohatyn , who together with his wife , elizabeth , played that role in the 1970 ' s and 80 ' s . ' ' the city has to continue as a cultural , media and financial capital of the world . to do that you need people who can straddle a couple if not more of these constituencies . ' '
speyer seems not altogether easy with himself , as perhaps befits a person who has crossed from another world . his mother is swiss , and his father comes from one of the old jewish families of frankfurt ; his father fled germany in 1939 . speyer grew up in a cultivated and proper german - jewish household on riverside drive . at columbia university , he majored in german literature and joined zeta beta thau , the right jewish fraternity . speyer was one of those people who were solid , and even solemn , at an age when others are still flailing and unsure of themselves . according to burt lehman , who was a frat brother : ' ' even at z . b . t . , he stood out from the rest of us . he wore a jacket and tie - - most of us hadn ' t worn a jacket and tie since our bar mitzvahs . ' ' after graduation , he chucked literature and enrolled at columbia business school . and he abandoned merchant banking for real estate .
ms . farley finds socializing much easier than does mr . speyer , who has told friends that he ' ' doesn ' t do warm and cuddly well . ' ' he resists being honored at dinners , but together the couple are frequently hosts or chairmen of the fund - raising galas that define a certain stratum of new york society .
in addition to his affiliation with moma , mr . speyer serves on the boards of a number of other organizations , including carnegie hall , new york - presbyterian hospital , the partnership for new york city , rand corporation , urban land institute , columbia university , the new york city investment fund , and survivors of the shoah visual history foundation .
how he got the top job as a trustee , speyer helped moma buy the dorset hotel site in 1996 for its subsequent expansion . ( his deal - making shaved $ 25 million off the price . ) then he persuaded the giuliani administration to contribute $ 65 million ( of the $ 858 million total ) . he became chairman in 2007 .
but there is a widening base of wealth and power . tishman speyer properties , where mr . speyer is president and chief executive officer , is the largest owner of office space in new york city , according to the real estate board . with his former father - in - law , robert v . tishman , he has built a portfolio of properties worth an estimated $ 5 billion , stretching across the united states and europe . the closely held 17 - year - old company manages more than 15 million square feet of real estate and has developed landmarks like the equitable center in new york , the nbc tower in chicago and continental europe ' s tallest building , the messeturm in frankfurt .
mr . speyer may not succeed in his pursuit of rockefeller center or the portfolio of buildings that includes the world financial center . both deals are facing competitive bids from other investor groups .
i ' m hopeful they will come through ,
he said friday afternoon .
if not , we ' ll look for the next best deal .
mr . speyer ' s soon - to - be - neighbors were saddened when the two brownstones were torn down , according to ann millard , who is president of the friends of the upper east side and who lives around the corner on 71st street .
those two wonderful old houses fit in with the whole streetscape ,
she said wistfully .
its goal :
to establish a bond of cooperation and friendship among secretaries to leaders
- - and , by leveraging this network , help both them and their bosses do a better job .
when i find it hard to track someone down ,
says speyer ,
i can always rely on carole and her seraphic society pals .
of course , this whole dialectic of constancy and change is a terribly delicate thing : rigor mortis lies on one side and vulgarity on the other . speyer knows exactly what the world will say if he isn ' t careful . ' ' there ' s a culture in each of these buildings that ' s really important to respect , ' ' he said , lest i miss the point . yes , some of the shoe - repair guys would have to go , but he would find a new spot for the hallowed , dingy barbershop - to - the - schlockenheimer - stars . ' ' we ' re staying absolutely away from anything that ' s faddish , ' ' speyer said . there will be no theme restaurants .
“moma is one of the world’s great cultural institutions with one of the world’s premier boards and museum leadership , ” mr . speyer said . “it is my distinct pleasure to work with such a talented and highly qualified group . i salute bob menschel for the high bar he has set and follow him in the position of chairman with all the respect he has earned . ”
recent news reports that revealed details of the extravagant contemporary design , and the location of the new mansion he is building , left mr . speyer feeling hurt , he said . he expressed fear that the publicity jeopardized his family ' s safety , and
made me sound like some nouveau riche guy - - something i ' ve never wanted to be seen as .
now , i’ve always liked it because it gave people that could go through that process an advantage , like jerry , but it gave us an advantage if you could get through the process . but getting a building approved in new york is a horrible , horrible thing . and that’s nothing compared to when you get into the highways and the dams — they don’t even talk about dams anymore . hydropower is a great , great , form of power — we don’t even talk about it , because to get the environmental permits are virtually impossible . it’s one of the best things you can do — hydro . but we don’t talk about it anymore .
speyer himself is a pudgy fellow with a boxer ' s jutting chin and flattened planes ; he has a way of talking out of the side of his mouth that is almost endearing in a man so self - consciously respectable . with his employees , he was casual and often jovial . nevertheless , he had a few highly effective mechanisms of control . sometimes he went so long without speaking as to completely unnerve the person across the table . complicated crosscurrents were at play beneath speyer ' s smooth surface : he invariably wore a dark tie and a white shirt , though underneath the starched cuff he sported a mickey mouse watch - - a kind of secret sign that he held himself ever so slightly apart from the corporate conventions that he otherwise scrupulously observed .
transfer records show that mr . speyer bought the two brownstones , at 174 and 176 east 72d , in march 1994 for just over $ 3 million . the seller was dr . thomas rees , a plastic surgeon who had lived in one of the houses , rented out the other and used the combined ground floors as professional space . the five - story buildings were demolished last july .
the couple ' s home on the upper east side , built in 1995 on the site of two razed town houses , has a vast collection of contemporary art . visitors are given a catalog of what is on the walls . mr . speyer bought his first piece of art 40 years ago and has not sold a single item since . his favorite artists include frank stella and jeff koons .
mr . speyer , chairman emeritus of columbia university , is already leading a campaign to raise $ 1 billion for new york - presbyterian hospital . ms . farley is involved in the $ 325 million reconstruction of west 65th street and alice tully hall at lincoln center , where she is on the executive committee . she is also on the boards of lincoln center theater and alvin ailey american dance theater .


sandbag is a community interest company , campaigning for changes to european climate change policy , especially emissions trading .

the organisation was launched in 2008 by bryony worthington and was the first ( and founding ) member of the guardian 's environment network .

sandbag ( non - profit organisation )

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to raise money for layla’s treatment her family and friends have started the raising hope for layla non - profit organisation , which asks for donations from the public .
sandbag is a not - for - profit climate change policy think tank based in brussels and london .
thameslink operates a train from london luton airport ( ltn ) to sandbag ( non - profit organisation ) every 20 minutes . tickets cost $ 15 - $ 21 and the journey takes 36 min . alternatively , national express operates a bus from london luton airport ( ltn ) to sandbag ( non - profit organisation ) every 30 minutes . tickets cost $ 7 - $ 10 and the journey takes 50 min . terravision uk also services this route every 30 minutes .
the ovd - info monitoring group , a non - profit organisation , said preliminary figures showed 730 people had been detained in moscow . the interior ministry said 500 people were detained in st petersburg .
find all the transport options for your trip from london luton airport ( ltn ) to sandbag ( non - profit organisation ) right here . rome2rio displays up to date schedules , route maps , journey times and estimated fares from relevant transport operators , ensuring you can make an informed decision about which option will suit you best . rome2rio also offers online bookings for selected operators , making reservations easy and straightforward .
sandbag’s advocacy activity is underpinned by sophisticated modelling , data tools and data visualisation .
is sandbag’s founder , and is now director at the environmental defense fund europe .
sandbag is a community interest company , campaigning to increase public awareness of emissions trading .
the health and environment alliance ( heal ) is a leading european not - for - profit organisation addressing how the environment affects health in the european union ( eu ) . we demonstrate how policy changes can help protect health and enhance people’s quality of life . read more »
sandbag content is released under a creative commons attribution licence ( cc by 2 . 0 uk )
sandbag … strikes a balance between underlining the merits of the eu ets and criticising the weaknesses .
sandbag is playing a crucial role in making sure that europe’s cornerstone climate policy actually does its job .
more data will often be available on request . contact phil ( phil @ sandbag . org . uk )
the msc health policy will develop your understanding of , and critical engagement with , key challenges in health policy . both state and non - state actors grapple with how best to . . .
“handing these assets at a cut - price , or even a negative price , to a faceless organisation is big gamble . eph have no public shareholders to be responsible to , no electricity customers to be responsible to , and no ownership from regional or national government to be responsible to , ” said dave jones of sandbag .
as with all websites , sandbag ' s site functions using cookies . by continuing to use this website you consent to our cookies .
but , she says , governments tend to be weak when facing the collective might of industry lobbyists . she hopes sandbag will help individuals counter that .
published today by the european environmental bureau ( eeb ) , the health and environment alliance ( heal ) , climate action network ( can ) europe , wwf and sandbag .
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the first member of the guardian environment network is the carbon emissions campaign sandbag , which aims to reduce emissions by obtaining and retiring permits to pollute from the european emissions trading scheme .
our mission is to provide targeted , evidence - based advocacy at the points of highest leverage , with sandbag’s analysis and data tools being trusted and consulted by key decision - makers .
sandbag’s vision is that climate policy in europe , including the uk , should be robustly designed to drive rapid , sustainable and cost - effective emissions reductions , consistent with achieving internationally - agreed targets .
sandbag content is released under a creative commons attribution licence ( cc by 2 . 0 uk ) - see our about page for more details or contact phil macdonald phil @ urltoken | website powered by wordpress divi theme
sandbag building is now being introduced into kwazulu - natal after 20 years of successful building in the western cape , where it’s been used to construct many diverse structures , from double - storey houses to large commercial structures .
video footage showed a protester clambering onto a mock - up of a wartime sandbag fortification holding a poster calling putin a liar , before being pulled to the ground by a cast member dressed as a world war two soviet soldier .
heal has over 70 member organisations , representing health professionals , not - for - profit health insurers , doctors , nurses , cancer and asthma groups , citizens , women’s groups , youth groups , environmental ngos , scientists and public health institutes . members include international and europe - wide organisations , as well as national and local groups . read more »
baroness worthington is the executive director of environmental defense fund europe . she was appointed to the role in 2016 and is the first to hold this position for the european affiliate of the international nonprofit organisation , environmental defense fund . drawing from her varied experiences , bryony elevates edf’s voice in the european environmental debate and helps oversee our activities and partnerships in key countries .
sandbag was founded in 2008 by baroness bryony worthington to shine a light on what was really going on in emissions trading in the eu and to enable people to buy and remove the surplus carbon allowances from the eu emissions trading system ( eu ets ) .
she sees sandbag ' s role as offering a platform to help people subvert , agitate and campaign against the imperfections and injustices embedded in the current emissions trading scheme . she would far prefer to use the collective voice of future sandbag members to coax the big industrial polluters into handing over their surplus credits than have to rely on members to buy them . but , i put to her , surely this is an idealistic dream ? why on earth would these firms with surplus credits - which worthington estimates to be about two - thirds of the 300 - odd firms currently operating within the eu ets - wish to give up the chance to earn millions by selling them ?
an ngo can ' t expect to win against this without some kind of major civil movement behind them . we have to target the educated , informed and affluent to do something . it ' s our responsibility , the ones who have all these privileges . that ' s what i ' m trying to do with sandbag .
the system is fully endorsed and supported by the nhbrc . the one thing that we have taken for granted and yet have used so often is the sandbag . we have used sandbags for good protection , sound insulation and even shelter from bullets . so should it really be that difficult for us to believe that we can build a house from sandbags ? . . .
sandbag informs and influences european and uk legislation on climate change by working with the key policymakers and business representatives to change climate policy , supported by our in - depth research and analysis . we also work with campaigning organisations across europe , supplying the data and evidence - base to secure wins for the climate . and – with the right pressure at the right time – we are able to make a big difference .
next week , worthington launches urltoken , a not - for - profit website that allows members to buy up surplus
permits to pollute
that form the currency of the european union ' s emissions trading scheme ( or eu etss ) . members can then
retire
them so that they cannot continue to be traded between the industrial polluters - cement , steel and car manufacturers etc - forced by eu regulation to operate within the system .
i suppose it ' s a bit like burning money in front of someone so they can ' t spend it on something bad ,
she explains .
i really want to distance sandbag from the term ' offsetting ' . most schemes today are simply saying to someone in a country such as india , ' you can ' t use a diesel pump for your water hole . use this hand pump instead because we ' re trying to get carbon emissions down ' . so these people end up using a more labour - intensive device so that we can drive down to sainsbury ' s to pick up some evian ? that ' s just wrong .
as part of a major expansion of its coverage of the environment , urltoken is founding a network of the best environmental websites in the world .
this will connect sites across the globe that provide high quality news , information and advice , as well as blogs , data providers and relevant tools . we believe information should lead to action and will therefore include selected campaigns .
visit the guardian environment network for the full list of contributors . in the meantime , why not tell us who you think should be included , in the comment section below
© 2018 guardian news and media limited or its affiliated companies . all rights reserved .
bryony worthington , who has lived and breathed emissions trading every day for the past decade , has had enough . she tells leo hickman why
bryony worthington . . . ' offsetting can be more evil than doing nothing ' . photograph : martin godwin
if you ever try to discuss carbon emissions trading you are soon left feeling as if you ' re wading through a giant bowl of alphabeti spaghetti . the subject drips with acronyms : cdm , rocs , eu ets , crc , euas , cers . rumour has it that some ministers have been known to carry cribsheets into high - level discussions to protect themselves against this blizzard of jargon - and who can blame them ?
it can be such a , let ' s be frank , dull and impenetrable subject that there are those who believe the obfuscation is intentional , to repel prying eyes from exposing the murky workings of the only truly international system up and running that ' s designed , by curbing greenhouse gas emissions via the
cap and trade
principle , to protect us against runaway climate change .
bryony worthington , who has inhaled the fug of emissions trading every day for the past decade , first as an environmental campaigner , then as a government official , and finally as a lobbyist for a giant energy firm , has had enough .
using her unique knowledge of how
this game
works , she wants to expose its underbelly and help to spark greater debate about what , she believes , is a vitally important component of our collective fight against climate change .
sunlight is the best disinfectant ,
she says , sitting inside her temporary new ' office ' , a corner in her local pub in north london .
if you open all this process up to the public and show them what ' s happening , then you stand a much better chance of cleaning this up .
the concept sounds like a clever variation of carbon offsetting , the now mocked method of allowing people to atone for their
carbon sins
- flying , driving , heating - by letting them pay for , say , a tree to be planted , or someone else , often in a developing country , to reduce emissions on their behalf .
worthington is sensitive to the charge .
we ' ve deliberately tried not to look like an offsetting website ,
she says , adding that some offsetting firms can , in her view , be
more evil than doing nothing
due to the often neo - imperialistic veneer of some of the offsetting projects they fund in the developing world .
there ' s no carbon calculator on our site , for example . my pitch is simply that if you haven ' t got a lot of time , but do have a credit card , you can take , say , a tonne of carbon dioxide out of the atmosphere in a second by paying for an emissions credit to be withdrawn from the system .
at the current rate of trading in the eu ets , a tonne of carbon is priced at about €23 ( £18 ) , around twice the average price to offset a tonne of co2 as charged by an offsetting company .
we need to explain to these companies that they need a carbon market that works ,
she says , stressing that the current surplus threatens to kill the market dead , because the price remains far too low to encourage firms to implement meaningful reductions .
what we have to tell them is that if the current system is allowed to fall over then the alternative will be a world of heavy regulation and high taxes . the allocation was calculated on nothing more than guesswork .
they know the current surplus is a windfall . we know it ' s a windfall . just give it back . we need to shame them into it by getting some forward - thinking firms to make the leap first .
it can be tempting to view worthington as just another principled environmental campaigner : well intentioned , but hopelessly naïve to the motivations of those who sit in boardrooms . but her cv reveals plenty of experience of operating within the world of pin stripes and double strength lattes .
worthington grew up on a farm in wales .
i can remember doing talks at school about saving the whale . i wasn ' t a hippy , but i had a sentimental view of the environment .
after studying english literature , she travelled before joining operation raleigh as a fundraiser . it was in the mid - 1990s , working for a conservation charity , that climate change pricked her consciousness . by 2000 she had moved to friends of the earth as a climate - change campaigner . but it was never a natural home for her .
i didn ' t fit the mould at foe . i was keen to talk to civil servants and talk about the detail of the policy . i ' ve always been pragmatic . foe is a great brand and has a brilliant media team , but i suppose it has quite a limiting perspective .
since going into government and the private sector i ' ve noticed things aren ' t as black and white as you ' d like them to be in the ngo world .
a spell at the department for environment , food and rural affairs implementing public awareness campaigns and helping draft the climate change bill , was followed by another career swerve . she became a lobbyist ,
head of government relations
, for scottish and southern energy , one of the uk ' s largest energy companies .
for some former colleagues , this role reversal must have seemed as if she had not only danced with the devil but gone back to his place for the proverbial coffee . but her experience has given her a rare insight into the workings of three very different , yet interlocking , worlds .
working for the government can be amazing if you can get things going , but there ' s just so much inertia in the system ,
she says . by comparison , the private sector was
great
.
people are motivated . meetings are barely tolerated , whereas at ngos everyone loves two to three - hour meetings . government is even worse . in the private sector , i found a refreshing lack of politics .
when i first walked in , they had pinned my old ' carbon dinosaur ' campaigning leaflets to the computer screen to remind me that they knew where i had come from . but i wouldn ' t have gone there if i didn ' t think they were a forward - thinking company .
i did think briefly , ' what have i done ? ' but in the time i was there , they invested massively in renewables and are one of the few energy companies working to help customers reduce their energy demand . they still do need to sort out what they are doing with coal , though . but then , no one really knows what to do yet .
worthington says her time at scottish and southern energy taught her that a market - based emissions reduction mechanism , such as the eu ets , is the only option if we are ever to convince polluters to change . she welcomes the announcement by gordon brown on thursday that the energy firms must help pay for homes to be better insulated , but says there are more important things the government could be concentrating on , such as carbon capture and storage ( ccs ) technology - the great , unproven hope for cleaning up coal .
the government can ' t expect an incumbent industry to innovate towards ccs . why would they change direction if they are making lots of money now ? they need both a carrot and stick . the [ emissions trading system ] , despite its problems , gives companies both . you need a market .
you need to get capitalists interested - that ' s when you get big cash flow . most people think we need credits to be worth €75 a tonne to get ccs off the ground . that ' s why we must fight to reduce the surplus .
having been a lobbyist myself you can ' t overstate how easy it is to get things done your way . in brussels there is a key vote next month in which the environment council will begin deciding what it thinks the ets allocations should be beyond 2013 .
every industrial lobbyist worth their salt has been there all summer . by comparison , there are probably just five or so representatives from the ngos . it ' s a complicated policy and many lobbyists are trying to wreck amendments as we speak .
registered as a community interest company in england & wales : company no . 6714443 , trading address : 40 bermondsey street , london , uk , se1 3ud
vattenfall on monday signed a deal to sell its loss - making german lignite operations to privately - held czech investor eph , confirming a move that will substantially cut the swedish state - owned utility’s carbon footprint .
the deal , still needing around two months to be signed off by the swedish government , will cut vattenfall’s ets - regulated exposure to less than 25 million tonnes a year . that’s down from more than 80 million tonnes last year , when it was europe’s second largest emitter .
“this divestment of our lignite assets is good strategically , but also financially given current and expected market conditions . we are now accelerating our shift towards a more sustainable production . the sale means more than 75 % of our production will be climate neutral compared to about 50 % today , ” said magnus hall , vattenfall’s president and ceo .
“after thorough due diligence we are pleased to have found a well - established new owner for the lignite business with approximately 7 , 500 skilled and committed employees , ” he added .
the deal will transfer the ownership of 8 , 000 mw of installed capacity in power plants jaenschwalde , boxberg , schwarze pumpe and a 50 % stake in lippendorf , as well as four open cast mines .
the companies declined to disclose the deal’s value , with some market sources saying it was symbolic , according to reuters .
vattenfall said it is expecting have sek 22 - 27 billion ( $ 2 . 7 - 3 . 3 billion ) in revenues wiped off its quarterly income statement due to the sale .
it said it will transfer sek 15 billion in cash holdings along with liabilities , including recultivating the pits , that are estimated at sek 18 billion . the forward power hedges , worth around sek 9 billion , will remain with vattenfall .
eph , with its financial partner ppf investments , will be restricted from selling on any part of the business for five years , and will only be able to pay out dividends after three years .
with german power prices having fallen by around 40 % since in 2014 , coal - fired generators face a less certain future that is more reliant on capacity payments from governments .
vattenfall is keen to lessen its exposure to this market and to regulatory risk , and instead focus on developing its low - carbon assets and strengthen its green credentials .
“we want to reduce our co2 exposure , so for us this is the right thing to do and it frees up resources to focus more on renewable energy . we see significant risks when it comes to the development of future electricity price levels . there are also regulatory risks to take into consideration , ” said hall .
eph , on the other hand , is betting that german power prices will rebound in the next few years as the german government completes its nuclear phase - out by 2022 .
“on a mid - term perspective , the fundamental dynamics of the energy market are set to recover . with our relevant industry expertise and a cost - disciplined and efficient management of operations we are convinced that lignite is in a position to contribute successfully to the rapidly evolving german power mix” , said eph board member jan springl .
the deal means eph , which is owned by investment bank j & t and czech businessman daniel kretinsky , is to become one of europe’s top emitting companies .
it has been steadily building its european power asset portfolio over the past two years , acquiring the uk’s eggborough and lynemouth power stations , majority stakes in three hungarian gas - fired cogeneration plants , and part of e . on’s italian assets including one coal - fired and six gas - fired plants .
it also owns german coal mining firm mibrag , which operates three smaller cogeneration coal power stations .
environmental campaigners expressed concern that eph was less likely to safeguard jobs and fulfil its environmental obligations than a more measured coal phase - out under vattenfall with german government funding .
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as the bulgarian presidency of the european council draws to a close this week , we look at the potential for rapid emission reduction projects in bulgaria through cutting coal used to heat buildings - and cutting energy poverty at the same time . much more analysis on . . .
in the near term the uk grid will require some additional fossil peaking plant , which will work alongside batteries and dsr to ensure the lights stay on .
businesses are clear that changes to the ets benchmarks are needed – to facilitate low - carbon production methods , and eliminate perverse incentives to pollute .
an inspirational idea that promises to make a real and positive difference… and a wonderful opportunity to help sort out the climate mess we’ve all created . prof . chris turney is the author of ice , mud and blood : lessons from climates past
select an option below to see step - by - step directions and to compare ticket prices and travel times in rome2rio ' s travel planner .
the train from luton airport parkway to farringdon takes 36 min including transfers and departs every 20 minutes .
yes , there is a direct train departing from luton airport parkway and arriving at farringdon . services depart every 20 minutes . the journey takes approximately 36 min .
rome2rio ' s travel guide series provide vital information for the global traveller . filled with useful and timely travel information , the guides answer all the hard questions - such as ' how do i buy a ticket ? ' , ' should i book online before i travel ? ' , ' how much should i expect to pay ? ' , ' do the trains and buses have wifi ? ' - to help you get the most out of your next trip .
one of the most popular tourist destinations in the world , london is a traveller’s delight . catering to a wide range of tastes , there’s something for everyone in the english capital . london boasts myriad historical sites , art galleries , sporting attractions , world - class restaurants and eateries , high fashion outlets , and cultural events . take a cruise down the iconic river thames , visit iconic big ben and the tower of london , say hi to the queen at buckingham palace , catch a show at a famous west end theatre or be one with nature in much - loved hyde park or kensington gardens .
the british museum , located in the bloomsbury area of london , united kingdom , is a public institution dedicated to human history , art and culture . its permanent collection , numbering some 8 million works , is among the largest and most comprehensive in existence and originates from all continents , illustrating and documenting the story of human culture from its beginnings to the present .
trafalgar square is a public square in the city of westminster , central london , built around the area formerly known as charing cross . its name commemorates the battle of trafalgar , a british naval victory in the napoleonic wars with france and spain that took place on 21 october 1805 off the coast of cape trafalgar , spain .
st paul ' s cathedral , london , is an anglican cathedral , the seat of the bishop of london and the mother church of the diocese of london . it sits on ludgate hill at the highest point of the city of london and is a grade 1 listed building . its dedication to paul the apostle dates back to the original church on this site , founded in ad 604 . the present cathedral , dating from the late 17th century , was designed in the english baroque style by sir christopher wren . its construction , completed in wren ' s lifetime , was part of a major rebuilding programme in the city after the great fire of london .
tower bridge is a combined bascule and suspension bridge in london built between 1886 and 1894 . the bridge crosses the river thames close to the tower of london and has become an iconic symbol of london , resulting in it sometimes being confused with london bridge , situated some 0 . 5 mi upstream . tower bridge is one of five london bridges now owned and maintained by the bridge house estates , a charitable trust overseen by the city of london corporation . it is the only one of the trust ' s bridges not to connect the city of london directly to the southwark bank , as its northern landfall is in tower hamlets .
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moscow ( reuters ) - baton - wielding riot police broke up anti - corruption protests and detained hundreds of demonstrators in moscow and other russian cities on monday , before a court sentenced opposition leader alexei navalny to his second prison term this year .
the protests , called by navalny , a strong critic of russian president vladimir putin , drew thousands of people and were some of the biggest in russia since 2012 .
“russia without putin” and “russia will be free” chanted the demonstrators , including many young people , who crowded into central moscow on a public holiday .
navalny , who is mounting a long - shot bid to unseat putin in an election next year , had called for mass protests in moscow and other cities against official corruption .
the kremlin has dismissed navalny’s graft allegations , accusing him of irresponsibly trying to whip up unrest .
the scale of monday’s protests in moscow and smaller ones in st . petersburg and scores of other cities suggests navalny has maintained his campaign’s momentum despite more than 1 , 000 people being arrested after the last such protest in march .
that is likely to embolden him to call for more protests and keep putin , who is expected to run for and win re - election next year , under rare domestic pressure .
“neither mass detentions nor criminal cases after march 26 ( the last protest ) worked , ” wrote lyubov sobol , a navalny ally , on social media . “people are not afraid . ”
navalny’s wife , yulia , said her husband was detained as he tried to leave their home . reuters witnesses saw a police car leaving his apartment compound at high speed , followed a few minutes later by a minibus carrying about 10 policemen .
electricity in his office was cut at around the same time as he was detained , briefly bringing down a live feed of the protests , navalny’s spokeswoman said .
at a midnight court hearing , a russian judge later found navalny guilty of repeatedly violating the law on organising public meetings and sentenced him to 30 days in prison . navalny served a 15 - day jail term after the protest in march .
authorities in moscow said monday’s protest was illegal and drafted in riot police who fired pepper spray and used batons to break it up , detaining people and bundling them onto buses .
riot police detain a man during an anti - corruption protest organised by opposition leader alexei navalny , on tverskaya street in central moscow . reuters / maxim shemetov
roman , a 19 - year - old student , said navalny’s campaign against official corruption had struck a chord .
“i’m sick of the putin system , ” he said . “it’s been unchanged for the last 17 years . there is so much evidence that our officials are stealing with impunity . ”
dima , an 18 - year - old florist , said he wanted prime minister medvedev to return what he said were the politician’s ill - gotten gains . medvedev , a close putin ally , flatly denies wrongdoing .
the interior ministry said the turnout at the moscow protest was about 4 , 500 - significantly fewer than the numbers estimated by reuters reporters , who put the turnout in the low tens of thousands .
state media ignored the demonstrations , broadcasting soviet - style coverage of putin handing out state awards instead .
navalny brought thousands onto the streets across russia in march , the largest such protests since a wave of anti - kremlin demonstrations in 2012 . navalny was fined and jailed for 15 days for his role in those protests .
moscow authorities had initially authorised a venue for monday’s protest away from the city centre . but navalny switched it to tverskaya street , moscow’s main avenue near the kremlin . the general prosecutor’s office had warned that a protest there would be illegal .
the area of tverskaya street near where navalny’s supporters congregated was hosting an officially organised festival , with actors re - enacting periods of russian history .
for now , polls suggest navalny has scant chance of unseating putin , who enjoys high ratings . it is unclear too if the kremlin will even let navalny run for the presidency .
but the 41 - year - old lawyer turned political street campaigner hopes anger over corruption may boost his support .
a video he made accusing medvedev of living far beyond his means has garnered over 22 million online views to date .
navalny , who had a green liquid thrown in his face in april , robbing him of some of his sight , said hundreds of people had also attended demonstrations in russia’s far east on monday morning .
“i want changes , ” wrote navalny in a blog post last week . “i want to live in a modern democratic state and i want our taxes to be converted into roads , schools and hospitals , not into yachts , palaces and vineyards . ”
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the welcome dinner project tasmania brings together newly arrived people and established australians over a shared meal in someone’s home or a trusted community space . the aim of these pot - luck - style dinners is to create a platform for meaningful connection , sparking friendships between people of diverse cultures who are living in close proximity to one another but have not had an opportunity to connect in a supported environment .
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retirees have worked their whole life to reach this point , may as well do it in style ! here we feature a variety of upmarket retirement homes in what some now refer to as mature lifestyle estates .
only by getting a tour around the award winning waterfall valley estate do we understand the scale and majestic facilities . waterfall valley is certainly not the proverbial retirement village but rather . . .
pellet fireplaces are currently the most cost - effective heating solution in south africa . the cost of electricity and gas are rapidly increasing , while their supply can be erratic at peak times . with the new 8 % year on year tariff increase approved by the national energy regulator of south africa , the price of electricity will soon reach the r2 . 00 per kilowatt mark .
the running cost of a pellet fireplace is currently less than half the running cost of equivalent electrical and gas appliances in the market , and will over time become even more cost effective . . .
kleinwingerd , meaning “small vineyard” , is an architect’s weekend house located on the edge of the agricultural town of prince alfred hamlet , located in the warmbokkeveld valley , an important deciduous fruit growing area in south africa .
the design is a pragmatic and regionalist response to the climate and heritage of the area . the main accommodation in the long barn plan form . . .
four - year - old layla o’neill from lonehill suffers from a rare condition called neuroplasm glial ependymoma . this is your chance to help , we did !
the tumours on layla ' s spine cannot be surgically removed as they could paralyse layla for life . her only hope is proton treatment which is only available at the md anderson cancer center in texas . layla’s mother sharyn o’neill explained ,
the treatment itself costs r2 . 8 million and the doctors have told us we need to do it right now , i will never give up hope for my daughter , i will do anything i can to get her this treatment .
how we are helping ! houss and century property developments care for it ' s local communities , and are always ready to extend a helping hand where needed .
our hearts went out to little layla when we heard her story , we immediately made a substantial donation and we urge the public to assist if they can .
a total of 260 stands are for sale , ranging in size from 590m² to 3 , 900m² , with prices starting from as little as r365 , 000 almost half the price compared to the original launch four years ago .
due to huge demand for secure , facility rich property in the pretoria east area , investors have already snapped up over 90 of these stands at never to be repeated low prices . don’t miss out as value is expected to more than double in the short term , making this an extremely secure and savvy financial investment !
the hills game reserve estate is on show 7 days a week from 09h00 until 17h00 . . .
if you have ever had a bad experience as a weekend guest , you know just how awful it can be . dog hair in the sheets , bare windows , nothing for dinner , missed rides at the airport .
when you have friends or relatives coming to stay from out of town , make their visit a pleasure by thinking ahead and offering the same courtesies you would like to be shown . elaborate fruit baskets and floral arrangements are not necessary , just a bit of common sense and good planning . the following 13 steps will walk you through what you need to know to make your next hosting experience a great one for everyone . . .
for melissa and dan brown , moving to south africa from the usa just over five years ago offered a luxury that had eluded them for almost 20 years and one which we so often take for granted : space .
in fourways , johannesburg , couldn’t have offered a more inspiring site . ‘the estate is like no other we’ve ever seen . it’s packed with trees and boulders that have been left unspoiled for decades and is a far cry from the concrete jungle of hollywood , where we could go days without seeing a bird , ’ says dan . . .
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classy ' s platform is helping us engage our diverse network of alumni and donors across the country by providing an online experience that is both seamless and inspiring . merry boak chief development officer teach for america the number one thing that impresses me the most about classy is the people , especially their attentiveness and response rate . josé quiñonez chief executive officer mission asset fund the classy platform enabled us to raise a record breaking $ 190 , 000 on giving tuesday , and we continued that momentum with a 41 % increase in online giving year - over - year . cathy weber director of fundraising operations lustgarten foundation
classy’s user friendly platform and outstanding client support transformed the online giving experience for our staff and donors . stephanie herron chief development officer shriners hospitals for children classy has changed the way we fundraise by helping us empower our supporters to become advocates and fundraisers for world concern . cathy herholdt communications officer world concern with classy , we can create the type of branding and event pages that reflect a best in class organization . it’s intuitive , easy , and integrates well with other platforms we use . darrell mitchell chief executive officer progress house
more than 4 , 000 organizations use classy’s online fundraising platform to raise money and increase their impact . join them today !
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janos pasztor is the executive director of the carnegie climate geoengineering governance initiative ( c2g2 ) , and former un assistant secretary general for climate change during the negotiation of the paris climate agreement . his presentation will be followed by responses from professor david karoly , university of melbourne , currently an oxford martin visiting fellow , and baroness bryony worthington , executive director of environmental defense fund europe , and one of the key architects of the uk climate change act .
janos pasztor is carnegie council senior fellow and executive director of the carnegie climate geoengineering governance initiative ( c2g2 ) .
he has over 35 years of work experience in the areas of energy , environment , climate change , and sustainable development . before taking up his current assignment he was un assistant secretary - general for climate change in new york under secretary - general ban ki - moon .
earlier , he was acting executive director for conservation ( 2014 ) and policy and science director ( 2012 - 2014 ) at wwf international . he directed the unsg’s climate change support team ( 2008 - 2010 ) and later was executive secretary of the unsg’s high - level panel on global sustainability ( 2010 - 2012 ) . in 2007 he directed the geneva - based un environment management group ( emg ) . during 1993 - 2006 he worked , and over time held many responsibilities at the climate change secretariat ( unfccc ) , initially in geneva and later in bonn .
his other assignments included : in the secretariat of the 1992 un conference on environment and development ( earth summit ’92 ) ; stockholm environment institute ; united nations environment programme ( unep ) ; secretariat of the world commission on environment and development ( brundtland commission ) ; the beijer institute ; and the world council of churches .
he has bsc and msc degrees from the massachusetts institute of technology ( mit ) .
professor david karoly is a professor of atmospheric science in the school of earth sciences and the arc centre of excellence for climate system science at the university of melbourne . he is an internationally recognised expert in climate change and climate variability , including greenhouse climate change , stratospheric ozone depletion and interannual climate variations due to el niño - southern oscillation . he was heavily involved in preparation of the fourth assessment report of the intergovernmental panel on climate change ( ipcc ) released in 2007 , in several different roles , and was a review editor of the chapter ' australasia ' in the ipcc fifth assessment report released in 2014 .
professor karoly will spend january to july 2017 as an oxford martin visiting fellow based within the environmental change institute ( eci ) at the school of geography and the environment . professor karoly will work in collaboration with the oxford martin net zero carbon investment initiative and the oxford geoengineering programme . he will also work with the eci’s weather @ home team on the evaluation of perturbed physics experiments for the standard experiment suite .
appointed as a life peer to the british parliament’s house of lords in 2011 , she is a leading expert on climate change policy and carbon trading . she recently served as the shadow minister for energy and climate change in the house of lords , leading on two energy bills for the shadow ministerial team . when raised to the peerage one leading newspaper commented , “the house of lords has become a greener and better place” .
our database of african and international creatives and companies making waves in the design world .
30 days . 30 designers . 30 reasons to re - elect president obama .
with a form follows materials approach , dutch designer piet hein eek creates distinctive designer furniture from scraps of wood .
based in rotterdam , jeanne van heeswijk is a visual artist who creates situations in public places to provoke interactions between members of the public .
creative review writer rachael steven shares her experience of the first day of design indaba conference 2015 .
in the north - west of sa , a wall is being built , an open - ended celebration of the skills and artistry of the people , writes neil stemmet .
a swimming pool of dreams
is the latest immersive project by london - based nigerian designer yinka ilori , telling six narratives of people who pray .
map n 1 a diagrammatic representation of the earth’s surface or part of it . 2 what design indaba asked four cape town creatives to redefine
over the coming months we’ll be dropping some footage of the creatives who lit up design indaba 2017 .
experience designer and everyday astronaut , nelly ben hayoun launches the university of the underground to train up young designers as creative soldiers .
with studio dror ' s design for suitcase and bag manufacturer tumi , on - the - spot monogramming takes the personalised shopping experience to a whole new level .
since its first usage in 2004 , “web 2 . 0” has often been dismissed as a catchphrase . the latest design indaba magazine finds it sticks .
abbott miller commemorates the 175th anniversary of green - wood cemetery with a life - like exhibition symbolising the park ' s paths , roads and burial sites .
hex house is a low - cost house designed by architects for society to accommodate people displaced by disaster or conflict .
fanakalo’s wine label designs for helderberg wijnmakerij are bold and edgy , sure to catch the eye .
the lowline , the world’s first underground park , have raised enough money in a crowdfunding campaign to build their lowline lab .
the outdoor furniture in the urban garden of the national theatre in london is specifically designed to be welcome to bees .