"If developers and wealthy property owners can hire a surveyor that shows they own the public beach and get a permit to capitalize on that land to build a bigger house than you normally would, it's going to become, 'Oh, Mitt Romney did it,'" said Ciani.
Executives of both New York Life and the San Francisco company, McMorgan & Company, said they hoped the deal would permit them to capitalize on a trend in union retirement plans in which individual members, rather than trustees, make investment decisions.
China was not permitted to interfere.
Options like the N.C.A.A.'s exist to permit leagues or other sports organizations to capitalize on better financial markets than existed when a deal was signed.
But the Capitals failed to capitalize.
The strategy was to capitalize FPE with an endowment fund and thus permit FPE to set its own direction and finance conservation efforts for decades to come.
Recently, even city authorities have gotten in on the act, as they have sought to capitalize on graffiti's more artistic offshoots by handing out permits to encourage street artists to paint murals in blighted public spaces.
"Randy, permit to underscore Carl's letter.
