everyone

GlobeSt.com: Are the liquidations in the industry actuallygood for your business?

Friedman: I use an expression: 'It's so bad thatit's too bad.' It's not good for anybody. Bankruptcies now arecausing all companies to liquidate. Very few companies reorganize.That's not good for the company, and that's not good for sellingleases because nobody is buying leases, or at least very few peopleare buying leases. Much of our business is renegotiating leases. Inbankruptcies past, we had a year or so to renegotiate the leasebecause the landlord thought that they would have a tenant if theyreduced the rent. Now there's not going to be a tenant, so there'sno rent relief to be gotten in bankruptcy cases. It's not good forme because we derive a lot of fees from rent relief. Bankruptciesare so short that it's not good for the bankruptcy attorneysbecause they bill by the hour. Need I go on? It's terrible.