05/12/05: Junk. GM and Ford's bond status has been downgraded to junk. There are many factors that have led to this, yet, nobody really seems to be talking about them. Sure there was some coverage in the mainstream media, but it lasted only a day or two; the biggest story of the week was about a runaway bride. What does this say about the mainstream media? What does it say about us as a nation? While two of the most important contributors of the last century's economic engine have been sputtering, our attention is being diverted to nonsense--junk. GM and Ford are not the only American companies that are struggling to find their way through the 21st century. Let's hope we keep our eye on the more pressing issues of the day.

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GMH CAPITAL PARTNERS
(NEWTOWN SQUARE, PA) The firm has tapped David R. Forrest as senior vice president for its investment sales division. Forrest, most recently vice president of the division, will run daily operations and overall business development and marketing.

TREPP
(NEW YORK CITY) The firm has promoted Annemarie G. DiCola to chief executive officer, moving her up from her previous role as senior vice president. DiCola has been at Trepp for the past 15 years. She will oversee the company's expansion in the CMBS data and analytics market.

RAL COS. & AFFILIATES
(NEW YORK CITY) Ian Levine has been named chief operating officer and chief financial officer, moving up from his prior role as executive vice president. Levine, who joined the company in 1999, also serves as president of RAL's management arm, Spandrel Property Services.

GMAC MORTGAGE CORP.
(HORSHAM, PA) Sean Curry and Mark Lahiff have joined the company as director of prime assets and director of credit-sensitive assets, respectively. Curry was most recently senior vice president at Bank of America Mortgage in Charlotte, NC. Lahiff has left his post as president and chief operating officer at Keystone Asset Management Inc.

RAL COS. & AFFILIATES
(NEW YORK CITY) Ken Gelman has joined the company in the newly created position of finance compliance officer. Gelman was previously vice president of equipment, controls and maintenance at Great Atlantic and Pacific Tea Co.

TRADEMARK PROPERTY
(FORT WORTH) Dana Hansen has been hired as principal and executive vice president of lifestyle leasing. He will be responsible for leasing at all Trademark properties nationwide. Hansen was previously vice president of leasing at Poag and McEwen Lifestyle Centers.

SCHONBRAUN MCCANN GROUP
(ROSELAND, NJ) Harvey S. Berenson has been named senior director of tax services at the firm. With more than 30 years of real estate tax experience, he was most recently at Ernst & Young's national tax consulting department, where he specialized in leasing and structured finance transactions.

FIRST INDUSTRIAL REALTY TRUST
(CHICAGO) New to the firm is Jeremy Shapiro, who has been named senior regional director of the Miami region. He comes from Codina Development Co., where he was director of development and vice president. Shapiro will be charged with expanding the company's platform into South Florida.

TRAMMELL CROW CO.

Lease Administrator/Auditor

(MASSACHUSETTS)

Ideal candidate will review base rent, CAM charges, real estate taxes and insurance and benchmarking against market data, while also performing analysis and reconciliation of invoices and annual operating expense statements. He or she will develop and prepare financial reports and monitor lease abstracts and database.

HIDROCK REALTY INC.

Associate Director of Leasing

(NEW YORK)

Joining the firm's tenant representation group, this professional will be responsible for cultivating leads, building long-term relationships with potential clients and following through to deal closing. He or she will receive a draw toward leasing commissions.

HOLLIDAY FENOGLIO FOWLER

Senior Real Estate Analyst

(ILLINOIS)

Most qualified applicant will prepare financial analysis models for potential debt and equity transactions, create offering memorandums and interact with clients and capital providers to place deals. Position requires analytical background in finance and experience as a lead analyst or underwriter on multiple product types.

AMERICAN REALTY ADVISORS

Asset Manager

(CALIFORNIA)

Using knowledge of property management, financial analysis and market studies, appropriate candidate will create investment strategies and oversee operations of nationwide portfolio. He or she will communicate daily with property managers, leasing agents, vendors, tenants and senior management.

PACIFIC PROPERTY CO.

Apartment Acquisitions Associate

(CALIFORNIA)

This professional will create and prepare valuations for potential acquisitions while also researching and analyzing submarkets; tracking rent, sales, and new development activities in those markets; and conducting various related due diligence activities.

WALT DISNEY IMAGINEERING

Director, Resort Development & Strategic Planning

(FRANCE)

Working at Disney's Paris theme parks, ideal candidate will identify, analyze, negotiate and implement development strategies, then coordinate initiatives with partners. He or she will also review repositioning and redevelopment approach and review master-planning, land uses and design efforts.

SELECTLEADERS

Controller

(NEW YORK)

Position requires maintaining books and records while also overseeing continuous budget reforecast, including detailed billing, expense and cash flow projections. This professional will also perform cash management and supervise vendors such as auditors and accountants.

GUARDIAN MANAGEMENT LLC

Portfolio Manager

(OREGON)

Most qualified candidate will possess skills and abilities in communication, personnel management, marketing, facilities maintenance, real estate finance and budgeting to manage market-rate and government-assisted properties. LIHTC, HUD and/or RD program experience required.

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