CEO Pay Day

This week a study was reported on compensation analysis firm Equilar, Inc., which looked at CEO compensation increases in public companies with at least $1 billion in revenue. They found that CEOs, on average, enjoyed a leap in compensation of 16% between 2011 and 2012, as reported in public proxy disclosures. An even more interesting factoid was that the CEOs' median 2012 pay package came in at $15.1 million. With all the hub-bub that shareholders are making with corporate boards, one would think that growth in these extraordinary packages would be somewhat tempered year-over-year, especially when the average financial performance of these same companies was only a meager 3% higher than the percentage of pay increase. There were a couple of standout pay packages, but one of the best was Yahoo CEO Marissa Mayer who topped out at $31.6 million as the highest-paid woman. I understand that she has made some great moves over her short tenure with the company, but come on, Yahoo remains on the ropes, and a real turnaround is not around the corner. My problem is that companies continue to pay for short-term results instead of rewarding CEOs for investing in innovation and research, or longer-term strategies with pay that is aligned with results.

Tony LoPinto

ROSS STORES, INC.
Director, Real Estate
(PLEASANTON, CA) Duties include directing the analysis, selection, negotiation, administration and coordination of Ross' new store real estate program, and/or the relocation, replacement, expansion and surplus store programs. Specific duties include negotiating the business points for sites approved by the company as well as lease renewals, store expansions, modifications and surplus store space available for sublease; training real estate manager and staff and improving negotiation skills; and traveling to required market areas to visually inspect and evaluate proposed sites, existing stores and competitors within the trade area.

URBAN LAND CONSERVANCY
Vice President of Master Site Development
(DENVER) Urban Land Conservancy (ULC), a nonprofit organization established in 2003, uses real estate as a tool to enrich urban communities through a variety of community benefits. The vice president will work closely with the president and vice president of real estate to identify project concept, sites, and market with input from the president, development committee and other partners. He/she will evaluate feasibility and develop reviews; analyze and maintains project budgets, including assessing and coordinating personnel, green building designs; and define resources needed to complete projects. Ten-plus years of experience in master site development, construction, real estate, and project management required.

ESSEX PROPERTY
Senior Attorney
(PALO ALTO, CA) Duties include reviewing and negotiating various real estate documents; reviewing contracts with outside vendors, consultants and other third parties for development, property operations, property management and marketing; counsel and provide guidance regarding property operations and leasing (i.e. landlord-tenant disputes, contract disputes and other operational disputes); and possess a strong interest in litigation/employment law.

CASSIDY TURLEY
Financial Analyst, Structured Finance
(WASHINGTON, DC) Specific duties include working with senior brokers who are responsible for leading structured finance business; maintaining a primary focus on apartment, condominium, and office projects; preparing financial models in Excel and Argus for clients which outline valuation and pricing structures; researching, analyzing, and evaluating feasibility of various real estate transactions; manage the preparation of detailed equity and financing request packages and capital sources; and convey all particulars of a transaction (financial projections, market and location issues, tenant analysis, etc.) verbally and in formal written format to potential capital sources.

AMERICAN REALTY ADVISORS
Manager, Construction & Design
(LOS ANGELES) The manager, construction and design will be responsible for project design and construction oversight, and coordination services for a national portfolio of real estate assets, reporting to the national director, construction and design. Specific duties include reviewing asset management goals and objectives and preparing design programs to support asset management strategies for each property assigned; sourcing the architectural, engineering, and construction management disciplines for each project; managing overall project estimates, schedules and controls, and informing management regularly of project status; and negotiating design/construction contracts.

SELECTLEADERS
Analyst
(ATLANTA) Our client, Eastdil Secured, a wholly owned subsidiary of Wells Fargo, is a real estate investment bank that provides its clients with transactional services focusing on real estate assets and real estate companies. Eastdil Secured serves as an intermediary on behalf of private and public real estate companies, designing capital market strategies and executing transactions on their behalf. Duties include: financial analysis and underwriting; assisting in preparation of offering materials and new business presentations; gathering and evaluating real estate market data; due diligence collection and review; and providing general analytical support to the deal team.

VORNADO/CHARES E. SMITH
Development Manager
(ARLINGTON, VA) The development manager will work on all facets of development projects in a collaborative team environment. The development manager will be responsible for coordinating the day-to-day activities of assigned projects from pre-development through construction and transition to property management. Projects will include new and re-development high-rise, mid-rise and mixed-use office/retail/ residential/hotel developments located throughout the Washington, DC metropolitan area.

MARCUS & MILLICHAP
Vice President Production, Central Region
(CHICAGO) The vice president will manage the mortgage production in five states and eleven offices: Texas (Houston, Dallas, Fort Worth, Austin, San Antonio); Illinois (Chicago Loop, Chicago O'Hare, Oak Brook); Michigan (Detroit); Indiana (Indianapolis); Wisconsin (Milwaukee). This position will alsol be responsible for hiring, training and management of mortgage brokers; establishing and maintaining working relationship with local management; establishing and maintaining relationships with lenders; recruiting; and revenue growth.

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COLVILL OFFICE PROPERTIES
(HOUSTON) Win Haggard Jr. has been promoted to vice president with Colvill Office Properties. Haggard has been a leasing representative with Colvill for seven years and has leased more than one million square feet during that time.

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SIMON PROPERTY GROUP
(SUNRISE, FL) Sawgrass Mills, an outlet and value retail shopping destination with more than 350 stores, owned by Simon Property Groupo, has named Chris Valle as the new tenant relationship manager. Prior to joining the marketing team at Sawgrass Mills, Valle worked for 10 years with Oakley, most recently as a retail district manager.

WEICHERT COMMERCIAL BROKERAGE
(MORRIS PLAINS, NJ) Peter Naumann has joined Weichert Commercial Brokerage as sales associate. Prior to joining Weichert, he was vice president at Teleran specializing in technology recruiting.

HILLWOOD INVESTMENT PROPERTIES
(DALLAS) Hillwood Investment Properties announced that Bates Arnot has joined the firm as market director. Prior to joining Hillwood, Arnot served as senior associate with Stream Realty Partners in Dallas where he focused on institutional leasing, acquisitions and dispositions in the Southwest industrial market.

MOODY RAMBIN
(CHICAGO) Mike Bowlin has joined Moody Rambin as property manager for the office services property management group. Prior to joining Moody Rambin, he served as the director of property management for Fredricks Commercial Management where he oversaw a portfolio of retail, industrial and office properties.

MARCUS & MILLICHAP CAPITAL CORP.
(SALT LAKE CITY) Marcus & Millichap Capital Corporation has named Tracy Wright as an associate director in the firm's Salt Lake City office. Most recently, he served as vice president of RealSource Commercial in Salt Lake City.

CARRFOUR SUPPORTIVE HOUSING
(MIAMI) Carrfour Supportive Housing, a nonprofit affordable housing developer, announced today that it has named Anthea M. Pennant as director of fund development and external affairs. Prior to joining Carrfour, she served as director of development and external affairs at Feeding South Florida.

SPERRY VAN NESS INTERNATIONAL CORP.
(IRVINE, CA) Sperry Van Ness International Corporation(SVNIC), a commercial real estate franchisor, announced that George Slusser, CCIM has been named the company's new chief growth officer. SVNIC will look to Slusser to shape and execute its strategy for continued expansion in 2013 and beyond. Slusser was most recently the executive vice president of business development at Xceligent, Inc., a nationwide provider of commercial real estate information.