RESUMO Este artigo atravessa diferentes camadas históricas na metrópole paulistana, recolhendo pistas sobre operações imobiliárias de grande envergadura decisivas para o padrão de acumulação e segregação socioespacial em São Paulo no último século. O primeiro ato, nosso ponto de partida, é a operação imobiliária realizada a partir de 1910 pelo capital financeiro internacional em associação com agentes públicos e privados locais, em terras que correspondiam a mais de um terço da área urbana do município, sob liderança da Companhia City. O segundo ato, lida com os primórdios da articulação mais recente por trás da produção de um skyline que mimetiza aquele das chamadas cidades globais, nas margens do Rio Pinheiros. Entre eles, outra operação com terras que marcaria a história da cidade, com a captura de 21 mil hectares de áreas lindeiras ao Rio Pinheiros, obtidas com a canalização e retificação do rio, e drenagem de suas margens. A sucessão desses arranjos e coalizões que discutiremos não é linear nem indica necessariamente progresso, menos ainda desenvolvimento, mas sim estratégias de cada momento da máquina imobiliária de crescimento.

ABSTRACT This article traverses different historical layers of the metropolis of São Paulo, gathering clues about large-scale real estate operations decisive to the pattern of accumulation and socio-spatial segregation in over the last century. The first act, our starting point, is the 1910 real estate development operation of international financial capital in association with local public and private agents. It spanned more than one third of the city’s urban area, under the leadership of the Companhia City. The second act concerns the very beginnings of the more recent deal-making underlying the construction of a skyline that mimics that of so-called global cities, along the banks of the Pinheiros river. We address, among others, a land development operation that became a milestone in the city’s history, with the capture of 21,000 hectares in areas adjacent to the Pinheiros river, obtained by canalizing and rectifying the river and draining its banks. The succession of the arrangements and coalitions we shall discuss is neither linear nor necessarily indicative of progress - and even less of development. Rather, these are moment-to-moment strategies for the growth of the real estate development machine.

RESUMO O presente artigo tem dois objetivos: 1) precisar conceitos que estão envolvidos na relação entre o mercado imobiliário e a financeirização da acumulação de capital; e 2) aprofundar a reflexão sobre as contradições existentes no tratamento da terra como puro ativo financeiro. Sempre que possível, exemplos concretos serão trazidos para ilustrar esse esforço conceitual.

ABSTRACT The present article has two goals: 1) to specify the concepts involved in the relationship between the real estate market and the financialisation of capital accumulation; and 2) to reflect more deeply on the contradictions of treating the land as a pure financial asset. In both cases, whenever possible, concrete examples will be brought to illustrate this conceptual effort.

OBJECTIVES: Acute retinal necrosis is a rapidly progressive and devastating viral retinitis caused by the herpesvirus family. Systemic acyclovir is the treatment of choice; however, the progression of retinal lesions ceases approximately 2 days after treatment initiation. An intravitreal injection of acyclovir may be used an adjuvant therapy during the first 2 days of treatment when systemically administered acyclovir has not reached therapeutic levels in the retina. The aims of this study were to determine the pharmacokinetic profile of acyclovir in the rabbit vitreous after intravitreal injection and the functional effects of acyclovir in the rabbit retina. METHODS: Acyclovir (Acyclovir; Bedford Laboratories, Bedford, OH, USA) 1 mg in 0.1 mL was injected into the right eye vitreous of 32 New Zealand white rabbits, and 0.1 mL sterile saline solution was injected into the left eye as a control. The animals were sacrificed after 2, 9, 14, or 28 days. The eyes were enucleated, and the vitreous was removed. The half-life of acyclovir was determined using high-performance liquid chromatography. Electroretinograms were recorded on days 2, 9, 14, and 28 in the eight animals that were sacrificed 28 days after injection according to a modified protocol of the International Society for Clinical Electrophysiology of Vision. RESULTS: Acyclovir rapidly decayed in the vitreous within the first two days after treatment and remained at low levels from day 9 onward. The eyes that were injected with acyclovir did not present any electroretinographic changes compared with the control eyes. CONCLUSIONS: The vitreous half-life of acyclovir is short, and the electrophysiological findings suggest that the intravitreal delivery of 1 mg acyclovir is safe and well tolerated by the rabbit retina.

Este artigo analisa conflitos e articulações por trás da transformação de uma antiga área alagadiça, as várzeas do rio Pinheiros, em uma das regiões mais valorizadas de São Paulo e, atualmente, sua fachada globalizada. O texto discute, particularmente, os nexos que se constituem, nas últimas décadas, entre a financeirização global da economia e os arranjos específicos que se configuram em São Paulo; entre mecanismos supostamente avançados - como operações urbanas, Cepacs e fundos de investimento imobiliário - e formas típicas de acumulação primitiva, nas quais força, fraude, opressão e pilhagem são exibidas de modo recorrente; entre "a cidade própria" das elites e a cidade dita clandestina, que ocupa beiras de córrego, encostas de morros, margens de represas. Tomo como referência três ícones dessa paisagem urbana: uma ponte estaiada, imagem-síntese da cenografia da "nova cidade"; um gigantesco emprendimento murado, que mescla residência, comércio de luxo e escritórios; e um complexo empresarial com torres de escritório e hotel, interligados por um shopping subterrâneo.

This paper analyzes the conflicts and articulations behind the transformation of an old swampish area, the meadows of the Pinheiros river, in one of the most valued regions of São Paulo and its globalized face. The text discusses particularly the connections made in the last decades between the global financialization of the economy and the specific arrangements that take place in São Paulo; among supposedly advanced mechanisms - such as urban operations, Cepacs and real estate investment funds - and typical forms of primitive accumulation, in which strength, frauds, oppression and pillage are recurrently exhibited; between the "city proper" of the elites and the so-called clandestine city, that occupies stream edges, hillsides, margins of dams. I investigate three icons of that urban landscape: a cable-supported bridge, synthesis of the "new city" scenery; a gigantic walled development, that mixes residential, luxury trade and office buildings; and a business compound with office and hotel towers, interlinked by an underground shopping center.

Cet article analyse les conflits et les négociations sous-jacentes à la transformation d'une ancienne région inondée, la plaine inondable du fleuve Pinheiros, située dans l'une des parties les plus valorisées de São Paulo et maintenant son côté mondialisé. On y présente en particulier les liens établis au cours des dernières décennies entre la financiarisation mondiale de l'économie et les agencements spécifiques qui surgissent à São Paulo; entre des mécanismes supposés avancés - tels les plans d'actions urbains, les Cepacs et les fonds d'investissement immobilier - et des formes typiques d'accumulation primitive dans lesquelles la force, la fraude l'oppression et le pillage se répètent constamment; entre la "ville typique" des élites et la ville, dite clandestine, qui occupe les bords des ruisseaux, les pentes des collines, les bas-côtés des barrages. Trois icônes de ce paysage urbain nous servent de points de repère: un pont suspendu , une image synthèse de la scénographie de la "nouvelle ville"; une œuvre gigantesque murée qui mélange des résidences, des commerces de luxe et des bureaux; et un complexe d'entreprises avec des tours de bureaux et d'hôtels liées entre elles par un centre commercial souterrain.