"It is a challenging and daunting time to talk about the economy, which isn't news to anyone," Rising said. He attributed much of the crisis to over consumption. "Since the 1980s, Americas have consumed more than they produce and they have been able to do this by borrowing."
Although Rising said that according to the current definition of a recession, it hasn't hit yet, and will not hit here until at least Jan. 1, 2009, he says that if this recession follows past recession length averages, it should only last roughly 11 months. He did note, however, that "no one has a crystal ball" and that "only time will tell."
Rising continued that "one of the most troubling things I have seen, is consumer confidence decreasing." However, he noted that it is important to look at history as background of how "we got to where we are today," but he also said that it is important to learn from that history and various recessions and look at "what our economy is going to be in the aftermath, going forward."
The 20th anniversary ceremony, held at the Hyatt Regency Irvine, attracted more than 550 attendees and honored several of the real estate industry's most respected leaders. The presentation included a special presentation of the "Lifetime Achievement Award" to Phil Belling and Steve Layton, founders of LBA Realty and the Center's "Rising Star Award" to Derek Chen, Jerome Fink and David Kim, cofounders of the Bascom Group. Additionally, the Orange County Community Foundation presented its "Power-Packed Philanthropist Award" to John Parker, chairman of Parker Properties.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
