When developers make huge offerings to cash-strapped councils, as part of the planning process, their interests will outweigh those of residents.
Stocks in London started out strongly, then lost ground amid concern over a huge offering of stock in the British Petroleum Company.
The underwriters of the huge offering, led by Daiwa Securities Company, faced a difficult time persuading large institutional buyers to snatch up the shares.
The market was held back by concern about the dollar and about the huge offering of shares in the British Petroleum Company.
The Bolsa index fell 45.02 points, or 1.87 percent, to close at 2366.59, partly, analysts said, because of the huge offering.
A huge offering of Nippon Telegraph was absorbed without the disruption the shaky market had feared.
Every month there are more huge offerings of stock here.
With Duracell, Ann Taylor and other companies coming to market with huge offerings in the last quarter, fees were virtually guaranteed to climb rapidly.
Share prices in Hong Kong have also been buoyed by huge initial public offerings of Chinese companies.
But people in the remainders business said that such a huge offering of books was extraordinary.