Companies in U.S. Plan to Boost Hiring, Invesment Into 2010, Survey Shows Oct 26, 2009
The service-industries group, which includes retailers, health-care providers and hotels and restaurants, had the most positive outlook on employment, followed by finance, insurance and real estate. On net, manufacturers said they planned more job cuts over the next six months, the report showed. (Bloomberg -- US)
Economists forecast hiring, GDP increasing Oct 26, 2009
Finance, insurance and real estate also posted gains. Demand in transportation, utilities, information and communications did wane, but at a slower pace than the first half of the year. (MSNBC -- Business)
More of this story Oct 25, 2009
The Bartlesville Examiner-Enterprise was voted best local Web site by on-line readers and RE/MAX of Bartlesville was tabbed as best real estate agency. In the medical services field, Green Country Village and Retirement Community ranked number one for best assisted living community. (Bartlesville Examiner-Enterprise, OK)
Cubs days away from changing hands Oct 24, 2009
The proceeds from the sale will be used to pay Tribunes biggest creditors, including J. P. Morgan Chase which lent real estate mogul more than $8 billion in 2007 to take control of what was then a publicly traded company. What do you think. (Crain's Chicago Business)
Ultrahigh-end homes slow to sell in crowded market Oct 23, 2009
"It used to be when we showed a $3 million house, we'd show three or five," said Jaime Adams, a real estate agent with Adams & Myers Realtors, Hinsdale, Ill ... "It tells you a lot, on a home that already has come down $1.7 million," said Lisa Trace, a real estate agent with Griffith, Grant & Lackie Realtors in Lake Forest. (Herald Online, SC -- Lifestyles)
Up to 3,000 homes proposed for ex-Ryerson site Oct 22, 2009
Mr. Kelly, a veteran commercial real estate lender, is chairman and CEO of Oak Park-based bank holding company , which owns Park National ... Amid the real estate crisis, FBOP has suffered increasing loan losses, and regulators recently ordered the company to raise capital ... Learn what type of real estate is faring the worst and why many havent been scooped up by. (Crain's Chicago Business)
Boeing loses $1.6B in Q3 Oct 22, 2009
6B in Q3 - Puget Sound Business Journal (Seattle). for free extra services. (Puget Sound Business Journal, WA)
Concordia turning dirt on baseball field Oct 22, 2009
Concordia U. breaking ground on baseball field - Austin Business Journal. for free extra services. (Austin Business Journal, TX)
Stocks erase gains in final hour on concern over banks Oct 22, 2009
Real solutions for your real estate needs. Choose from the selections below. (USA Today -- Money)
Slight Holiday Sales Increase Forecasted Oct 21, 2009
Real Estate Information. Sponsored Links. (KSBW 8, CA)
IVY PRIDE: The Next Trend in Meeting Your Mate Oct 20, 2009
Anderson, who also has a day job as a real estate development attorney, said the answer is most likely yes. "If you hear about this party of Harvard, Yale, University of Chicago and MIT alums getting together, and you say that sounds like a lot of fun, and I could use a little smart, sexy fun in my life, I would venture to guess that you'd be a dynamic, engaged, fun person who would add to the party," said Anderson. (ABC News)
Earnings blitz to test US markets mettle this week Oct 19, 2009
Youre going to hear a lot about commercial real estate this week, with a lot of regional banks reporting their earnings, said NorthStars Kuby. Throughout this entire 7-month rally, the two areas of concern that people continue to point out are the consumer and commercial real estate. (The Star Online, Malaysia -- Business)
Kendall trying again to sell Goose Island campus Oct 18, 2009
The option includes the real estate ... As the turmoil in the commercial real estate mortgage market drags on, buyers and lenders are carefully scrutinizing the creditworthiness of tenants. (Crain's Chicago Business)
No Punches, Just Praise As Tyson, Holyfield Meet Oct 17, 2009
Learn how you can avoid the top 10 real estate nightmares. Try these simple and fun ways to break out of your routine and find a more positive, confident you. (KSBW 8, CA)
Mortgage Madness, Again Oct 15, 2009
Given the collapse in real estate prices, the weak economy and the epidemic of foreclosures, banks are acting with more caution than before. They now commonly require home buyers to make down payments of 20 percent to qualify for a loan. (Townhall.com)
Dow crosses 5 figures Oct 15, 2009
Commercial real estate loans still threaten U.S. banks and the larger economy. With more than 7 million jobs lost in the recession, office space has sat empty and developers have defaulted on their loans. (The Augusta Chronicle)
Editorial Roundup Oct 14, 2009
Unable to submit Real Estate, Services, and Business Investements at this time. Map the Valley. (Hanford Sentinal, CA)
Chicago Fares Could Soon Be Among Nation's Highest Oct 13, 2009
The agency is receiving 30 percent less income from sales and real estate taxes than expected. Many cities face similar woes and also have raised ticket prices, including New York, which boasts the nation's biggest mass-transit system. (ABC News -- Wire)
Morning roundup-- Cougar attacks, kills family dog-- Motorcyclist in serious condition-- Homebuyers can still get tax credit Oct 13, 2009
There's also been speculation the credit may be continued, local real estate agents say. Home sales increasing: August home sales, although lower than in July for completed transactions, showed an increase in pending sales and an increase in the median sales price. (Klamath Falls Herald & News, OR)
An incentive for buyersDeadline near for homebuyers using tax credit Oct 13, 2009
Ron Rogers, a real estate agent with Coldwell Banker Holman Premier Realty, said the approaching deadline to take advantage of the government incentive, which does not have to be repaid, appears to be providing more motivation ... Lisa Stewart, owner of Signature Real Estate Services, said while just 25 percent of her buyers qualified for the tax credit, it helped during a time when the Klamath County market had significant reductions in price and sales ... Closing: The final exchange in the... (Klamath Falls Herald & News, OR)
Key ShoreBank executive leaves lender Oct 10, 2009
James Bringley, ShoreBanks senior vice-president in charge of real estate lending, departed within the last few weeks after more than three decades at ShoreBank, a spokeswoman confirmed ... Commercial real estate loans, including loans to apartment building owners, which played such a large role in ShoreBanks success, now are generating losses. (Crain's Chicago Business)
Aye Carumba! Marge Simpson poses for Playboy cover Oct 10, 2009
"But he stressed that the mother of three the youngest a baby, by the way has a lot to be proud of."She is a stunning example of the cartoon form," he said on Friday at the magazine's headquarters in Chicago, appearing both pleased and surprised at the words coming out of his mouth.For Playboy, which has seen its circulation slip from 3.15 million to 2.6 million since 2006, putting Marge on the cover was designed to attract younger readers to a magazine where the median age of readers is 35,... (Seacoast New Hampshire)
Dreier Loses Law License Oct 10, 2009
Marc S. Dreier, 59, the former sole equity partner of 250-lawyer Dreier LLP who in May pleaded guilty in federal court to selling more than $700 million in bogus real estate and pension plan notes, was disbarred Thursday. "As respondent's criminal offenses, if committed under New York law, would constitute felonies, they are a proper predicate for automatic disbarment," the New York Appellate Division, 1st Department, wrote. (Law.com)
In brief: Chicago 2016 HQ | Law firm move | Turtle Wax Oct 10, 2009
Mirvac, an Australian real estate investment trust, took control of the Willowbrook building in 2005 in a 68-property joint-venture deal with Oak Brook-based CenterPoint Properties. What do you think. (Crain's Chicago Business)
Jewish Federation buys suburban site for retirement home Oct 10, 2009
McGuire and Ceisel, now both deceased, originally bought 20-some acres there in the early 70s from a farmer, says Mr. McGuires son, Michael, a principal with Carpentersville-based real estate investment firm McDewey Properties LLC. Mr. McGuire assisted with this deal and the sale of the groups other two office buildings to Walgreen Co.. Related story. (Crain's Chicago Business)
No more goats Oct 9, 2009
Lobsang Dargey makes transition from Tibetan monk to successful real estate developer - bizjournals ... Lobsang Dargey makes transition from Tibetan monk to successful real estate developer ... From Tibetan monk to being a successful real estate developer, landlord and property manager is pretty incredible, said Mike Deller, CEO of the. (San Jose Business Journal, CA)
Reyes brothers join ranks of ultra-rich on Forbes 400 list Oct 9, 2009
Missing from the 2009 ranking are real estate investor Matthew Bucksbaum and family and investment manager John Calamos and family ... Real estate magnate and Tribune Co. CEO , members of the Pritzker family, entertainment mogul and Morningstar Inc. owner were among the 18 Chicagoans on the most recent Forbes 400 list. (Crain's Chicago Business)
Northbrook retail center fetches $15 million Oct 8, 2009
The Sanders Court property, first built in 1974, was under contract to another buyer who ultimately walked from the deal because of the economys meltdown, says Michael George, president of Oakbrook Terrace-based Mid-America Real Estate Corp., who represented the sellers in the transaction. The turmoil in financing markets, the turmoil in valuations and the turmoil in just tenant health all caused people to be very cautious, says Mr. George, who wouldnt name the prospective buyer. (Crain's Chicago Business)
BNIA flights on time, majority of time Oct 8, 2009
for free extra services. Subscribe to Business First. (Buffalo Business First, NY)
CTA eyes $122M in cuts to help plug $300M gap Oct 8, 2009
Because of the recession, revenue from retail sales and real estate transfer taxes, from which all three benefit, has fallen. The CTA's portion of the tax revenue is 34% lower than originally estimated. (Crain's Chicago Business)
Student housing planned for Plymouth Building Oct 8, 2009
The deal marks another local investment by Mr. Conlons new fund, Conlon Real Estate Opportunities Fund L.P. The native Irishman raised $27. 5 million from Irish investors, including Dublin-based insurer Liberty Asset Management Ltd. Mr. Conlons fund also bought a site in River West and plans a seven-story apartment building there. (Crain's Chicago Business)
Mass. energy co. plugs into Buffalo Oct 8, 2009
energy co. plugs into Buffalo - Business First of Buffalo. for free extra services. (Buffalo Business First, NY)
Boeing takes $1B charge for 747-8, citing higher costs Oct 7, 2009
Boeing to take $1B charge for 747-8 program - Puget Sound Business Journal (Seattle). for free extra services. (Puget Sound Business Journal, WA)
Learn How to Prosper in Commercial Real Estate With This Comprehensive Book -- New Book is An Official Entry At This Year's California Library Association Regional Book Exhibit Oct 7, 2009
CHICAGO, Oct. 6, 2009 (GLOBE NEWSWIRE) -- In the world of real estate, money is the name of the game ... These are some of the lessons that are waiting to be discovered in Intent to Prosper: Vol. 1, Commercial Real Estate, a new book authored by Chicago attorney R. Kymn Harp ... Intent to Prosper is a comprehensive guide that offers a witty and unique look into the world of commercial real estate, with strategies and insights useful to experienced commercial real estate professionals and... (Primezone Releases)
37 comments Oct 7, 2009
Upon arrival, Mrs. O, her "chit-chat buddy," Chicago-based talk-show queen Oprah Winfrey, and Chicago powerbroker/interest-conflicted real estate mogul/senior White House adviser Valerie Jarrett immediately embarked on a grueling, grip-and-grin campaign to secure the Olympics for their hometown. Our smile muscles ache in sympathy. (Human Events Online)
Weber grills maker signs big industrial lease Oct 6, 2009
Amid the slowdown in the industrial real estate market, landlords are becoming more creative in their efforts to make deals. While some building owners would have focused on filling the 125,000 square feet that Exel had already vacated, ING Clarion saw a larger deal to be made, Mr. Franzese notes. (Crain's Chicago Business)
The 'Vacancy' Blight: Finding New Uses for Empty Stores Oct 4, 2009
That's the highest percentage of vacancies since 1992 what you get when you mix a bad recession with a commercial real estate bust (thanks to years of overzealous building) ... Such endeavors are not going to solve the retail real estate glut. (Time.com)
The Looming Crisis in Commercial Real Estate Oct 4, 2009
As a result, many borrowers will likely default, leading to losses on securitized mortgages of $50 billion or more and losses of at least $200 billion on commercial real estate loans overall, according to Deutsche analyst Richard Parkus, who authored the report ... Financial analysts believe government incentives to banks to extend existing commercial real estate loans will be necessary to limit the damage ... Most mortgages for commercial real estate office and apartment buildings, hotels,... (Time.com)
New Century attempts to get ahead of possible fed order Oct 2, 2009
(Crains) , the Chicago commercial real estate lender run by , is attempting to raise capital to meet requirements of a regulatory order the bank has told its investors it expects to receive in the near future ... In a letter to shareholders, Ms. Pantazelos, chairman and CEO, said the bank expects its primary regulator, the Federal Deposit Insurance Corp., to issue an order requiring New Century to raise capital, reduce its reliance on commercial real estate loans and cut its level of... (Crain's Chicago Business)
W.H. Attacks Glenn Beck Blog Post Oct 2, 2009
As for the suggestion from Beck's guest that Obama adviser Valerie Jarrett will benefit financially from the Olympics in Chicago due to her real estate holdings there, the White House said the "reality" is that Jarrett, "upon entering government, divested all her real estate investment holdings except for a single investment that has nothing to do with the Olympic bid.". It didn't matter that it was also Beck's guest, and not Beck himself, that said "Chicago is closing the government several... (Newsmax)
Thrashers line combinations with plenty of updates Oct 1, 2009
Hockey Biltong, I can report that a friend who is in commercial real estate says that the ownership of the Ice Forum Duluth has looked at in-town properties for building a rink. Don t know anymore than that. (Atlanta Journal-Constitution -- Sports)
Beacon Capital Partners Makes History with First Multi-Tenant Platinum LEED Existing Buildings Sep 30, 2009
Real Estate News and Advice ... CME Group is pleased to have supported 550 West Washington s efforts to achieve LEED-EB Oinum Certification as these efforts are in alignment with the company s own sustainability goals and occupancy cost reduction efforts, stated Kevin Lennon, Managing Director of Real Estate at CME Group. (RealtyTimes)
Is it Morally Wrong to Default on a Mortgage? Sep 30, 2009
Real Estate News and Advice ... Bob Hunt is a director of the National Association of Realtors and is author of the recently published book, "Real Estate the Ethical Way." A graduate of Princeton with a master's degree from UCLA in philosophy, Hunt has served as a U.S. Marine, Realtor association president in South Orange County, and director of the California Association of Realtors, and is an award-winning Realtor ... Real Estate News Network. (RealtyTimes)
Disappointing Economic Data Signal Bumpy Recovery Sep 26, 2009
There's a bipartisan push on Capitol Hill to extend the credit, but prospects for the real estate market remain hazy. Similarly, while the manufacturing sector has made gains, they're partly due to the Cash for Clunkers program that supplied buyer rebates but that ended last month. (ABC News -- Wire)
Bernanke: Consumer loan program still needed Sep 26, 2009
"An ongoing need still clearly exists" for the program, which also is aimed at making sure loans flow to the troubled commercial real estate market, Bernanke said in brief remarks to a conference here sponsored by the Congressional Black Caucus Foundation ... They use the money to buy newly issued securities backed by auto and student loans, credit cards, business equipment, commercial real estate and loans guaranteed by the Small Business Administration. (MSNBC -- Business)
City looks to buy Bell Federal building Sep 24, 2009
The nearly 199,824-square-foot building is nearly 93% leased, according to real estate data provider CoStar Group. One key tenant is drugstore chain Walgreen Co., with a 5,000-square-foot store on the first floor. (Crain's Chicago Business)
Forecast predicts commercial values to get even worse Sep 22, 2009
(Crains) After plummeting over the past year, commercial real estate values in the Chicago area are poised to fall further and remain mired at recessionary lows for a couple more years, according to a new forecast ... The forecast, which PricewaterhouseCoopers based on current and historic data from Torto Wheaton Research and REIS, asserts that commercial real estate values here have further to fall ... Lets face the fact: Were in the Great Recession, says Charles DiRocco, the... (Crain's Chicago Business)
Two new companies let you hop a private jet for less Sep 22, 2009
Lawrence Moens, who owns a luxury real estate company in Palm Beach, says that he has been flying private for about 25 years. In recent months, he has used the Greenjets service. (USA Today -- Money)
Alter Group buys into The New Republic Sep 18, 2009
The , a Chicago real estate developer with a significant presence in Phoenix, is expanding its horizons with an investment in magazine ... Though commercial real estate development is its core business, Alter also owns the WNBA s Chicago Sky team along with the magazine investment. (Phoenix Business Journal, AZ)
Sam Zell looks to expand in Brazil: report Sep 17, 2009
(Reuters) American billionaire 's Equity International real estate investment fund plans to expand its investments in Brazil to commercial property, farms, industrial warehouses and infrastructure and logistics in coming years, Valor Economico said on Wednesday. Privately held Equity International is also looking for strategic partners to sell structured financial instruments using residential real estate assets as collateral, Thomas McDonald, a director for the fund and a close aide to... (Crain's Chicago Business)
Sears adds private-equity exec to board Sep 16, 2009
Mr. Kunkler, 52, is executive vice-president at Chicago-based investment firm CC Industries Inc., which is a unit of Henry Crown nd has interests in manufacturing and real estate. He has been at CC Industries since 1994, serving in various positions. (Crain's Chicago Business)
Receiver named for fmr. Shedd mansion Sep 16, 2009
(Crains) A Lake County judge has appointed a Chicago real estate firm as the receiver of two Lake Forest properties, including a 27-room mansion built by the founder of thats been slow to sell in the lifeless market for luxury homes. The receiver, Millennium Properties R/E Inc., now joins in the marketing efforts for the two properties, says Daniel Hyman, president of the Chicago-based firm. (Crain's Chicago Business)
Tumri moving HQ to San Mateo Sep 15, 2009
for free extra services. Subscribe to Silicon Valley / San Jose Business Journal. (San Jose Business Journal, CA)
FBOP has deadline with Fed to raise capital Sep 15, 2009
Under the Aug. 28 agreement, which was released Monday, FBOP must submit a plan in two weeks that outlines how it will restore its capital levels and address its heavy exposure to commercial real estate loans ... The deal also requires the bank to reduce its concentration of commercial real estate loans. (Crain's Chicago Business)
Condo lender Corus Bank fails Sep 15, 2009
4 billion commercial real estate loan portfolio. Most Read Stories. (Austin Business Journal, TX)
Banks Slow to Recover from Meltdown Sep 15, 2009
According to Bill Gross, of the investment management firm PIMCO, "To the extent that the consumer doesn't come back, then commercial real estate itself won't come back.". That could mean malls or hotels may not be able to meet their mortgage payments, which will mean more losses for the banks. (CBS News)
SMALL BUSINESS DREAMS: Owning one is a life's goal for many Sep 14, 2009
Barbara Corcoran Real estate broker. Hugh Hefner Founder, Playboy Enterprises. (USA Today -- Money)
Jennifer An will win ‘short' America's Next Top Model cycle 13 Sep 10, 2009
Lady who was seating was obviously out of her league regarding handling (Seacoast New Hampshire)
Recession Forcing Retailers to Think Small Sep 10, 2009
Renee Bello, a real estate broker in Sandwich, Mass. is enjoying the bombardment of store coupons, more lower-priced products and better quality in store-label merchandise, particularly at grocery chains. (ABC News -- Wire)
Latest Sonnenschein Layoffs Cut Partners, Too Sep 10, 2009
The firm eliminated most of the attorney positions in the real estate and corporate practices areas, cutting those lawyers who have remained idle because of the ongoing slowdown in banking, capital markets, real estate development, and mergers and acquisitions, the sources said. Most of the lawyers, located across the firm's offices, are expected to exit by Nov. 1. (Law.com)
Consumers cut debt by $21 billion Sep 9, 2009
The Feds measure of consumer borrowing does not include debt secured by real estate, such as mortgages or home equity loans. Even though the unemployment rate dipped in July, it jumped in August to a 26-year high of 9. (MSNBC -- Business)
Golf resort owner buying up acreage (322) Sep 7, 2009
Houses for sale everywhere you look and no jobs for people, so they have to move away to look for work, and nobody moving here to buy any homes, from what I hear from the real estate offices. lyn jernigan wrote on Jan 20, 2007 8:18 PM:I caddie at Bandon Dunes and know Mike Keiser, and not only is he one heck of a man he also is one heck of a business man. (Coos Bay-North Bend The World, OR)
Atlanta commuters stress high Sep 7, 2009
Atlanta commuters stress high - Atlanta Business Chronicle. for free extra services. (Atlanta Business Chronicle, GA)
Ernst & Young quits as Corus auditor Sep 5, 2009
(Crains) The auditor of teetering Chicago-based real estate lender has resigned. Ernst LLP notified the bank it was stepping down on Aug. 31, according to a Corus filing with the Securities and Exchange Commission late Friday. (Crain's Chicago Business)
Gendis Inc. Announces Second Quarter Results Sep 5, 2009
31 except per share) 2009 2008 2009 2008 ---------------------------------------------------------------------------- Revenue Investment 334 380 515 974 Real estate lease rental 872 383 1,636 764 ---------------------------------------------------------------------------- 1,206 763 2,151 1,738 ---------------------------------------------------------------------------- Expenses Property and administrative expenses 754 634 1,484 1,428 Amortization of property and equipment 130 87 261 175 Interest... (CCNMatthews Press Releases)
