Bad News Offshore
Last week the US Commerce Department reported that the big brand name US multinational companies have been cutting back their work forces in the United States while hiring abroad. In the 2000s, 2.9 million domestic jobs were cut, while 2.4 million were added overseas. Not surprisingly a large proportion of jobs were added in Asia by big businesses such as Microsoft, GE, Caterpillar, and Wal-Mart. This is bad news for the US economy. This trend signals that the US economic recovery is not going to result in the kind of job growth that has historically occurred when the tide turns. Alas, we are probably in for a longer lag in the real estate recovery.

Tony LoPinto is a senior client partner and head of Korn//Ferry International’s Real Estate Practice and founder of SelectLeaders. The views expressed in this article are the author’s own.

HFF, L.P.
Producer Debt
(IRVINE, CA) The producer will be responsible for originating, structuring credit terms, negotiating and closing commercial real estate loans, and/or equity joint ventures for multi-family, industrial, retail, office space or other types of commercial properties; and working closely with the local markets, borrowers and lending customers of commercial real estate, and develop significant long term relationships with the borrowers and service providers to promote those markets; among other duties.