06/30/04: The Federal Reserve Bank has decided to eliminate 13 of its 45 check-processing sites this year with the dubious promise that more will follow in 2005. This is due mainly to the declining use of paper checks. The cutback is not only a sign of the times but also a sample of some forward thinking on the part of the Fed in that it is transitioning these workers into other positions, starting  with training  programs to help them learn new skills. It's curious, with all the talk on Capitol Hill about job losses through such menaces as  offshoring and obsolescence, that  politicians don't realize that the answer to this threat is being practiced in their own backyard. 

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THE MACERICH CO.
(SANTA MONICA, CA) Jerry Anderson and Ray Bewley have been bumped up to assistant vice presidents for leasing from their previous positions of senior leasing manager. Anderson joined the firm in 1987; Bewley has been at the firm since 1986.

GVA WILLIAMS
(NEW YORK CITY) The firm has promoted Steve Jaray to senior managing director, Richard Plehn to senior director, Hal Stein to director and Cristina Hawes to associate director.

LASALLE INVESTMENT MANAGEMENT
(CHICAGO; NEW YORK CITY) The firm has named Joyce T. Shapiro as head of its US Client Services group. Based in New York , Shapiro will manage all client relationships in the US . She joined the firm in 1994.

GVA WILLIAMS NEW JERSEY
(PARSIPPANY, NJ) Scott Lawliss is new to the firm, joining as director. He will specialize in office landlord and tenant services. Lawliss was previously with CB Richard Ellis. In addition, James D. Hersh has joined the firm as first vice president. Hersh was also most recently with CB Richard Ellis.

ALVAREZ & MARSAL
(ATLANTA) Gregory Ford has joined the firm's real estate advisory group as director. Ford was most recently vice president in structured finance at a major investment bank.

TISHMAN REAL ESTATE SERVICES
(NEW YORK CITY) Ronald H. Bowman Jr . has been named executive vice president. Prior to joining Tishman, Bowman founded and ran Unique Infrastructure Group LLC, which provided brokerage and real estate advisory services.

NEWMARK
(NEW YORK CITY) The company has hired Stephen Snell as general manager for the Lincoln Building , a 55-story office tower in Midtown Manhattan. Snell was most recently director of leasing and marketing at Bergman Real Estate Group.

LASALLE BANK

Senior Underwriting Specialist

( ILLINOIS )

Ideal candidate will underwrite loan applications for multifamily properties, which includes reviewing conditions, analyzing creditworthiness, evaluating quantity and quality of property income and preparing commitment letters.

SELECTLEADERS

Asset Manager – Western Region

( CALIFORNIA )

In this role, the appropriate professional will lead and oversee investments in the company's Western region, which involves strategic planning for each asset, frequent communications with property managers, leasing agents, tenants and colleagues, and significant involvement in sales or purchases.

TIAA-CREF

Senior Investment Associate – High-Yield Investments

( NEW YORK )

This position demands the solicitation, identification, analysis, structuring and negotiation of high-yield debt investments, such as mezzanine debt and B-notes. Appropriate candidate will present new high-yield opportunities to investment committee while assisting in servicing matters as necessary.

PREFERRED REAL ESTATE INVESTMENTS INC.

Development/Acquisitions Manager

(PENNSYLVANIA )

Using a general knowledge of the construction process and experience in development, successful applicant will lead all development activities from start to finish, including obtaining appropriate RFPs, permits and documentation, creating and managing development schedules and budgets and preparing reports and other correspondence.

CRIIMI MAE INC.

Workout Specialist/Asset Manager

MARYLAND )

Ideal candidate will use his or her experience with loan defaults and resolution strategies to manage nonperforming loans. He or she will analyze cash flow, determine property values, prepare budgets, review appraisals and conduct property inspections.

SELECTLEADERS

Financial Analyst

( TEXAS )

On behalf of a mixed-use community developer, this professional will study relevant economic, demographic, psychographic and real estate capital market factors that affect investment decisions. He or she will also perform underwriting and planning and communicate with senior management on investment recommendations.

FIRST INDUSTRIAL REALTY TRUST

Business Development Officer

( CALIFORNIA )

In this role, suitable applicant will work with senior management to identify new investments, development, build-to-suit opportunities, sale/leasebacks and other transactions, while managing daily administrative activities, such as database coordination and deal tracking.

TRIMONT REAL ESTATE ADVISORS

Analyst

( GEORGIA )

This job requires analyzing property operations and lease and loan modification proposals, managing operating and construction budgets and preparing CMBS packages. Ideal candidate will also conduct market review, perform site inspections and deal with property managers, leasing agents and borrower/client representatives.

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