According to the Standard, even the fabulous Candy boys are feeling the crunch. The story goes that they're pulling out of their Noho redevelopment plans, and they've defaulted on a $365m loan on a Beverley Hills project. However, the facts aren't at all clear, given a recent report in the FT, claiming that the brothers had taken advantage of falling land values and Icelandic chaos, to buy out their Kaupthing partners on the cheap. Back then, Nick Candy was quoted as saying he expected to extend the terms of the loan. Now, it's a different picture. UPDATE, OCTOBER 31, SOME CLARITY, PERHAPS, FROM THE LA TIMES

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