Hiring on Hold The Dow broke through 10,000 last week, the economy is clearly on the rebound, the financial system is repairing itself, and the investment bankers are in for a big payday this year as Wall Street has come alive. Overall, the mood has improved greatly since early summer, so one would expect that headhunters are getting busy. Not so. Employers are slow to start hiring again so unemployment remains at record levels. The Wall Street Journal ran a story today in the first section saying, “companies across the economy are holding off on hiring even as profit outlook improves, amid economic uncertainty and their own success at raising productivity in rough waters”. It will be interesting to observe if the economic bust of ’09 is going to result in a systemic change with a longer term reduction in the workforce. With companies more efficient, workers more productive, consumers–especially the baby-boomers–spending less and saving more, hiring will definitely lag. What does this mean for real estate? Well, once commercial property valuations hit bottom and the gears begin to role, the rebound will be lower and slower, with fewer jobs. The same workforce efficiencies that the general economy has realized will hold true for real estate.
Tony LoPinto is CEO of Equinox Partners, an executive search firm specializing in the real estate industry, and parent company of SelectLeaders. The views expressed in this article are the author’s own.  Job Opportunities | SELECTLEADERS Head of Marketing (STATEWIDE, FL) The head of marketing will create and execute the company’s overall marketing strategy; assist with the creation of distinct brands for the company’s active adult and all-age community portfolios; leverage the two brands and work with regional operations and sales management teams to establish an identity for each property as the lifestyle leader in its market area; and for each brand, develop and direct multimedia marketing campaigns including online initiatives, corporate sponsorship, partner sites, promotion and advertising. NEWMARK KNIGHT FRANK Executive Vice President (NEW YORK CITY) The EVP will be responsible for the strategic operations of the NKFGCS corporate facility and third party managed properties including operating policies and procedures, financial budgets and controls and the management of all facilities services; as well as direct financial responsibility and accountability for the funding and disbursement of client funds, accounting policies and controls and financial operating practices of the operations under his/her control; among other duties. HOLLIDAY FENOGLIO FOWLER, L.P. Loan Sales Producer (CHICAGO) The loan sales producer will call regional, community and money center banks, CDOs and other holders of commercial mortgage notes as well as the marketing and sales of such notes; among other duties. SELECTLEADERS Vice President Property Management–Distribution Facilities (ANNAPOLIS, MD) The VP property management–distribution facilities will have primary responsibility for property management and tenant relations of a $500-million portfolio of approximately four million square feet; among numerous other duties. | BROOKFIELD PROPERTIES Financial Analyst (HOUSTON) The analyst will be responsible for inputting and tracking leasing activity through internal leasing management software; economic analysis, market analysis, and preparation of presentations for management review; preparing cash flow projections and analysis of existing properties, including analysis for loan compliance and property and corporate planning; preparing annual budgets and cash flow projections for corporate business plan as required for lenders; tracking operating results for forecast cash flow. THE PNC FINANCIAL SERVICES GROUP Manager, Real Estate Solutions/Commercial Loan Workout–Midland Loan Service (DALLAS) The manager will be responsible for resolving and/or disposing of non-performing commercial real estate assets with the goal of minimizing losses and maximizing value for our clients and their investors. Leading your team, you will be responsible for the development, implementation and management of workout and/or disposition strategies of complex, high-profile distressed assets; among other duties. THE BOZZUTO GROUP VP/Director of Interactive Marketing (GREENBELT, MD) The VP/director will work closely with SVP, CEO and executive team to create digital marketing strategies and tactics for The Bozzuto Group and all of the Bozzuto-related brand positions; project management of specific web initiatives, collaborating with multiple internal and external partners and agencies; coordinate approvals of brand visuals, website schematics, display banners, rich media, and other creative assets with appropriate staff members. THE PRAEDIUM GROUP Associate–Investor Relations (NEW YORK CITY) The associate will be responsible for direct and frequent contact with investors; coordinating with investment and financial control staff to respond to investor inquiries; assisting with all reports to investors; and assisting with regular and ad hoc investor and consultant questionnaires, among other duties. |  Promotions No more than one submission per company will be considered per week. Submissions with multiple names will be capped at three for coverage in Executive Watch. <!—-> | FIRSTSERVICE WILLIAMS (STAMFORD) FirstService Williams is promoting Joseph Caridi head of regional operations for the firm’s northern suburban region. | HANOVER REAL ESTATE PARTNERS (GREENWICH, CT) Hanover Real Estate Partners is hiring Romano Orlando as CFO. Prior to Hanover, Orlando was the finance manager of Wittek Development, LLC, a real estate investment and development company. MAX SPANN’S REAL ESTATE & AUCTION CO. (CLINTON, NJ) Max Spann is hiring Glenn McDonald joined the firm as regional director of business development. |  New Hires No more than one submission per company will be considered per week. Submissions with multiple names will be capped at three for coverage in Executive Watch. | MOHR PARTNERS (DALLAS) Mohr Partners, Inc. is hiring James Wassel as managing director based in New Jersey/New York. Most recently, Wassel served as a senior operating executive with Cushman & Wakefield. JONES LANG LASALLE (SAN FRANCISCO) Jones Lang LaSalle has appointed Colin Yasukochi as the director of research for the firm’s real estate operations in Northern California and the Pacific Northwest. | GRUBB & ELLIS CO. (EDISON, NJ) Grubb & Ellis is hiring Robert F. Black as vice president, Office Group.Prior to joining Grubb & Ellis, Black was principal and chief operating officer of Black & Company. | |
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