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Executive Watch 12.24.03

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By noHead | Updated on December 30, 2003

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

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