Lehman, SunCal, and Alameda Point

``SunCal boasts of being the largest privately owned land developer in the West and currently has more than fifty projects in various stages of development throughout California and New Mexico. But for all its size and scope, some of SunCal's recent publicity has been as toxic as the assets it bid big on in the years before the real estate bubble burst. And in the wake of the collapse of its biggest backer, the investment bank Lehman Brothers, SunCal's spotlight at the center of the current crisis has some Alameda officials worried that yet another developer might have to walk away from its promise to develop the Point.''