Days of Reckoning
Two weeks ago I voiced my anger and utter frustration with the "Amateur Hour" going on in Washington. What sparked my concern was the public hyperbole that erupted on both sides of the aisle, and in the White House. President Obama said in a prime time news conference in his starkest terms yet that, "the US is on the brink of a default that could trigger an economic upheaval." Well, Mr. President, the dominos that are falling across the global financial markets have triggered a mood akin to September 2008. But this is not the same. The 2008 market collapse was triggered from the bottom up. A housing market bust triggered a day of reckoning for a host of financial ponzi schemes that were, by the way, not recognized or acted upon by Standard & Poor's. Today, this is a top down affair, with a government incapable of getting its house in order and unable to kick-start its economy. Alas, this time around, we have a serious and growing lack of trust and a sovereign debt issue. In Washington yesterday, I observed the gang blaming the other side, and the White House scrambling, unable to calm growing fears. This time, S&P took action and downgraded US debt. Go figure. And the bureaucrats will not be able to slap down Wall Street, because the blame is squarely and firmly on the shoulders of government. Or should I say, the lack of it.
Tony LoPinto is the Global Sector Leader of Korn/Ferry International's Real Estate Practice and founder of SelectLeaders. The views expressed in this article are the author’s own.
Job Opportunities HFF
Producer – Investment Sales –Industrial
(IRVINE, CA) The producer will be responsible for originating; directing the marketing; negotiating and closing commercial real estate sale assignments; and/or equity joint ventures for industrial or other types of commercial properties; among other duties.
GENERAL GROWTH PROPERTIES
Sr. Finance Analyst – Investments
(CHICAGO) The analyst will underwrite real estate acquisitions and/or dispositions including preparation of cash flow projections in excel and Argus; assist in analysis of potential investments and preparation of detailed memos used to evaluate investment opportunities; and assist in the development of reporting to support executive business decisions and meet internal client requirements; among other duties.
MARCUS & MILLICHAP
Sales Manager
(SAN DIEGO) We seek seasoned managers within the commercial real estate sector, professionals who possess a track record of success at the transactional level and the management level. Specific experience identifying and recruiting new associates and experienced agents is required.
MICROSOFT CORP.
Regional Portfolio Manager – NY/NJ
(NEW YORK CITY) The manager will develop and implement a multi-year plan for the NY/NJ real estate portfolio, including strategy, business, financial and operational planning in alignment with the REF area goals and client strategy; ensure successful execution; engage with area and site leaders and/or management teams as the REF point of contact and accountability for the assigned area sites; and partner with the field site-specific management teams to ensure that needs are understood and properly addressed; among other duties.
COSTAR GROUP
Director of US Research
(BETHESDA, MD) The director will attract, develop and retain a strong team of experienced economists; lead by example, promoting teamwork, collaboration, strong work ethic and a results driven team; prioritize a high degree of integration with CoStar data, processes and personnel; and improve the quality and consistency of analytics and forecasting, while providing feedback to the property research team; among other duties.
PHILLIPS EDISON & CO.
Acquisitions Director
(CINCINNATI) The director will have an excellent reputation and established network of industry connections with demonstrated experience in sourcing and vetting retail, mixed use and regional shopping center opportunities. Comprehensive retail leasing and development experience will be critical to the ability to evaluate leases, credit, financial leverage, cash flow, long term retail viability and overall investment return.
SELECTLEADERS
Assistant Director of Operations & Facilities Management
(NEW YORK CITY) The assistant manager will oversee tenant construction projects to assure conformance with ESB Design Guidelines and Construction Standards; oversee employees in their performance shift duties including preventive/repair/maintenance programs and facility improvement measures; and directly oversee engineering, janitorial and elevator staff; and monitor outside service contracts waste Removal, pest control, metal and marble.
CAMDEN PROPERTY TRUST
Division Vice President
(LAS VEGAS) The vice president will be responsible for overall operations, leadership, and management of a portfolio of multifamily properties in multiple markets; and work with district and regional management team to complete annual budgets and forecasts; among other duties.
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.
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