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August 14th, 2009
Space elevator chase yields Earthly rewards
Abstract:
On an April day two years ago in Boulder, Colo., Michael Laine sat onstage in front of a large audience, struggling to hold back tears. That afternoon he was supposed to be presenting to the attendees of the Conference on World Affairs, but at the moment, Laine was finding it hard to concentrate. "Two hours ago I lost a $3 million building," he declared to the room. "And now I don't have a place to live."
It was the seventh time Laine had gone into foreclosure in just five years, all in pursuit of an entrepreneurial dream. Always before, he'd managed to raise the cash to buy his office building -- also his home and only source of income -- back at auction. This time, he was out of luck, as was the nine-employee company, LiftPort, that Laine financed almost entirely by leveraging his property.
Source:
money.cnn.com
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