AA investor watchdog group is questioning Norman Foster’s recent buyback of shares in an employee trust, which occurred prior to the proposed sale of his practice to private investors. The U.K.’s Telegraph reported on April 1 that the deal could net Foster “hundreds of millions of pounds.” But the Employee Share Ownership Centre wants to investigate how the trust was valued, and whether or not all of Foster’s employees knew of its existence. The Telegraph reports that Foster’s practice is estimated to be worth as much as $1 billion.
The Boston Globe came out swinging in favor of developer Steve Belkin’s proposal to demolish Paul Rudolph’s noted Blue Cross/Blue Shield Building and construct an 80-story skyscraper in its place. In an April 1 editorial, it argued that newer, mediocre skyscrapers have undermined the 1960-vintage building’s place within the streetscape—and that Belkin’s tower, designed by Renzo Piano, “seems like a good deal.” But in an exclusive, RECORD reports today that Piano was willing to save part of the Rudolph building—which contributed to his split from Belkin last month.