The report, called Leading the Enterprise 2008, is a summary ofthe responses of nearly 200 CEOs and other senior executives inreal estate and related industries. The Real Estate Roundtable andFPL Advisory Group sponsored the report.

Despite the dismal headlines, the majority surveyed had positiveviews of the industry: 69% of executives who were surveyed forecastincreases in revenues in 2008 and 71% expect profitability toincrease. The numbers are down from a survey conducted one yearago, when 85% of respondents predicted increased revenue and 80%predicted profit growth--but the optimistic consensus is clear,says reports author, William Ferguson, FPL's co-chairman.

"While we're seeing a more cautious approach to enterprisemanagement in 2008, new opportunities are opening up due toindustry globalization, which presents new areas of investment forUS capital while also attracting foreign equity capital to ourshores," Ferguson says. "Many Leading the Enterprise respondentswere buoyed by the continued flow of equity capital in new andexisting markets, as well as the prospects of assuming market shareleft by weaker competitors, and new technological advances that areimproving cost management and customer communication. They alsoexpressed enthusiasm for the growing trend toward environmentallysustainable development."