everyone

GlobeSt.com: Are the liquidations in the industry actually good for your business?

Friedman: I use an expression: 'It's so bad that it's too bad.' It's not good for anybody. Bankruptcies now are causing all companies to liquidate. Very few companies reorganize. That's not good for the company, and that's not good for selling leases because nobody is buying leases, or at least very few people are buying leases. Much of our business is renegotiating leases. In bankruptcies past, we had a year or so to renegotiate the lease because the landlord thought that they would have a tenant if they reduced the rent. Now there's not going to be a tenant, so there's no rent relief to be gotten in bankruptcy cases. It's not good for me because we derive a lot of fees from rent relief. Bankruptcies are so short that it's not good for the bankruptcy attorneys because they bill by the hour. Need I go on? It's terrible.

GlobeSt.com: And I thought your business might be a bright spot…