PITTSBURGH-Seimens Westinghouse announces that it has wrapped up its nine-month site search for the expansion of its Stationary Fuel Cells business with the selection of a 22-acre site in Allegheny County.

NEW YORK CITY-Ernst & Young's Hospitality Services Group has revised its US 2001 lodging industry forecast from 3.7% positive growth to negative 5.7% and occupancy rates are predicted to fall from an already-low 63.7% to 60.5%.

NEW YORK CITY-Local REITS take major steps in their respective restructuring processes. Aegis Realty Inc. hires an investment advisor to find a buyer for the company and Clarion Commercial Holdings announces its first liquidation payout.

NEW YORK CITY-Real estate trusts have performed relatively well through the recent economic downturn, but a prolonged recession may "chip away at the strengths" that have made REITs such an attractive investment option, an S&P analyst says.

NEW YORK CITY-Ernst & Young's Hospitality Services Group has revised its US 2001 lodging industry forecast from 3.7% positive growth to negative 5.7% and occupancy rates are predicted to fall from an already-low 63.7% to 60.5%.

NEW YORK CITY-Reports that Morgan Stanley plans to sell its new Midtown building before the paint dries were confirmed yesterday. Lehman Brothers will buy the 32-story building, which cost roughly $400 million to build.

NEW YORK CITY-Morgan Stanley is considering selling its unfinished Midtown building to rival securities firm Lehman Brothers and moving a chunk of its operations out of Manhattan.

NEW YORK CITY-Real estate trusts have performed relatively well through the recent economic downturn, but a prolonged recession may "chip away at the strengths" that have made REITs such an attractive investment option, an S&P analyst says.