Jonathan A. Schein
President & CEO
Real Estate Media
GlobeSt.com
12/24/03: Is the "jobless recovery" a reality? According to Mark Zandi , the chief economist and co-founder of West Chester, PA-based Economy.com, it is. In this week's UpClose on GlobeSt.com, Zandi remarks that not only are we in the middle of a robust upturn, but the next six to 12 months are looking very good as well. What does this have to do with the employment market's prospects? He believes that its only a matter of time before there is real employment growth on the domestic front because in his words, "You can ask workers to suck it up only for so long then you have to go out and hire, particularly if you believe the improvement in demand and output is for real and going to be sustained and businesses now are beginning to believe." With this in mind, it bodes well for filling up empty office space. However, he also believes that it will take close to two years to fill up the excess space that already exist. In reality, his words could be prophetic. It's only a matter of time before the law of diminishing returns comes to pass. The last two years have shown how much productivity we can generate out of our workforce. There is probably very little room to demand any more.
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MIT LENDING
(NEW YORK CITY) The company has promoted Sharon Blitz as senior vice president of its West Coast operations, in which she will co-manage all wholesale and correspondent sales and operational activities among eight branches serving California , the Pacific Northwest , the Southwest and the Rockies . Blitz was promoted from vice president of that region

HINES
(CHICAGO) The firm has bumped up Greg Van Schaack to senior vice president from vice president. Van Schaack, who joined Hines in 1985, originates developments in the Chicago area. He is currently leading the team that's developing a 40-story Central Loop office tower called One South Dearborn, scheduled for completion in 2005.


KOR COS.
(WALL, NJ) Cynthia Mack has come on board as operations manager, in which she will perform a variety of functions. She was most recently administrative assistant to the senior director at Osteotech Inc.

MCSHANE CONSTRUCTION CORP.
( ROSEMONT , IL ) The company has added John C. Daly to its ranks as vice president for health-care services. Daly will be responsible for the development of new health-care design/build construction and development opportunities. He comes from Irmscher Construction, where he was vice president of sales.

CARLTON ADVISORY SERVICES
(NEW YORK CITY) Romano Tio has joined the firm as director, in which he will concentrate on the origination of debt and equity financing while also locating principal investments. Tio has left his role as principal of various multiple residential and hospitality transactions throughout the East Coast. Also joining Carlton is Kenneth L. Herzberg , who comes on board as vice president. Herzberg will work with major hospitality clients. He was most recently responsible for developing various hotels in Manhattan , including Starwood's W Hotel in Times Square .

FREMONT INVESTMENT AND LOAN

VP, Senior Asset Manager

(CALIFORNIA)

For more information, click here.

The successful candidate will manage an assigned portion of the firm's commercial loan portfolio, which includes periodically inspecting existing collateral and tracking renovation or construction of projects that secure loans. This position also requires overseeing the quality of loan underwriting and negotiating work-out agreements with borrowers when necessary.

PARAMOUNT FINANCIAL GROUP

VP of Underwriting

(OHIO)

For more information, click here.

This job requires a professional who can partner with the vice president of acquisitions and developers to ensure appropriate financial and market-based transactions. Appropriate candidate must guide and direct analysis of the equity investment from proposal through fund placement. This professional will also provide supervision and oversight to associates.

GEORGE ELKINS MORTGAGE BANKING CO.

Loan Production Officer

(CALIFORNIA)

For more information, click here.

In this position, the loan production officer will work in an apprentice program with four senior loan originators to gain a general understanding of commercial real estate valuation, feasibility and mortgage underwriting. He or she must also perform direct and indirect research of real estate market conditions and credit information on various tenants.

CORPORATE CAPITAL & DEVELOPMENT INC.

Associate/Analyst

(TEXAS)

For more information, click here.

The successful candidate will analyze potential acquisition opportunities, which he or she will do by reviewing economic analyses of the properties using Argus and Excel modeling as well as market analyses. This position also requires asset management of ongoing portfolio operations and assisting principals in business development.

GMAC COMMERCIAL MORTGAGE

Asset Administrator

(TEXAS)

For more information, click here.

This position requires close interaction with asset managers in monitoring defaulted loan assets as required by servicing agreements, documentation and corporate policies and procedures. It also requires managing each asset regarding funds, advances and payoffs, as well collection, review and dissemination of all documents required in the servicing or disposition of an asset.

To receive the weekly Executive Postings email, register for our free daily NewsBlast in the upper righthand corner of this page. To unsubscribe click here. To post executive news, email a photo (JPEG) and brief employee biography to our site manager. This section of the page is updated daily. To announce an opening please click on Post-A-Job. Past issues of this newsletter can be found here.

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