Executive Watch

Perspective

Jonathan A. Schein - President & CEO - Real Estate Media - GlobeSt.com2/14/06: President Bush's Council of Economic Advisers wrote in the Economic Report of the President that in 2005, Americans' savings rate fell below zero for the first time since the Great Depression. From an economic point of view, this is an incredibly under-reported story. It's well known that Americans traditionally have low savings rates, and much wealth-building is based on real estate and other investments. Obviously, the idea that US citizens are now running their private accounts at a deficit will have serious long-term consequences for their financial security. But, look at the example they're following. The President and Congress justify out-of-control budget deficits year after year. This kind of "leadership by example" is way off base, and it's only a matter of time before the country gets a real lesson in economics.

The views expressed in this article are the author's own.
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Promotions

DENHOLTZ ASSOCIATES
 (RAHWAY, NJ) In a restructuring of the financial group, 10-year employee Stuart Green retains the chief investment officer's title, but relinquishes the CFO's role to Stephen Cassidy, who joined the firm in 2002 as director of finance.

DIVERSIFIED PROJECT MANAGEMENT
 (NEWTON, MA) Denise Booras and Susan Buchanan earn berths as senior project managers, assuming responsibility for all aspects of the field and ongoing facilities operations for corporate clients.
New Hires

PALISADES FINANCIAL
 (ENGLEWOOD CLIFFS, NJ) James F. Calvano is named chairman of the firm, freeing up principal William Procida to lead the launch of a second private investment fund. Calvano's background includes top posts with companies like Avis Inc., Olivetti Corp. of America and American Express Travel Related Services. The 40-year executive also will sit on the deal-review committee. The firm also hires John Chimento as principal after a 20-year stint with Bear Stearns. Chimento will lead the capital-raising campaign for the firm.

WESTMOUNT REALTY CAPITAL
 (DALLAS) John W McDowell IV comes aboard as chief acquisitions director, Thomas Allan Doss as controller and Gideon Posner as asset manager and financial analyst.

TRAMMELL CROW CO.
 (ATLANTA) Carla Bass becomes vice president of project leasing for Ashford Perimeter and Parkside Terrace. The top-ranked professional previously was a leasing broker for CBCO Real Estate and Trizec Properties Inc.

WRIGHTWOOD CAPITAL
(ATLANTA) Reed Skinner joins the firm as senior director of investments after previously working as senior vice president of real estate lending for United Community Banks. Skinner will handle structured finance and other investment types for the Southeastern US, focusing on the Florida markets.

SPERRY VAN NESS
(KANSAS CITY, MO) Gib Kerr, former vice president for Tower Properties, takes the helm as senior adviser to launch the Kansas City office.
Job Opportunities
Title Description

EQUINOX PARTNERS

Managing Director-Houston Development Group

(TEXAS)

One of the nation's largest privately held real estate services companies is seeking an experienced professional to lead all aspects of the development of multiple office, industrial and retail projects in the company's fastest growing region.

JONES LANG LASALLE

Leasing Analyst

(PENNSYLVANIA)

We are currently seeking a leasing analyst to join our Lease Administration Team located in Pittsburgh. The team identifies and evaluates strategic real estate data relevant to the operational, financial and transactional needs of some of the world's leading organizations.

GRUBB & ELLIS

Managing Director

(GEORGIA)

The managing director will plan, organize, direct and control the activities of the Atlanta region so as to optimize the utilization of all resources under his/her control. He or she will also participate in formulation of overall corporate objectives, policies and plans as they pertain to the Atlanta region.

MARCUS & MILLICHAP

Financial Analyst

(CALIFORNIA)

The selected candidate is responsible for database management and financial analysis for medical office properties on a national level. Argus and Microsoft Office, CCIM knowledge preferred but not required.

NEW PLAN EXCEL REALTY TRUST INC.

Acquisitions /Dispositions Associate

(NEW YORK)

The associate will analyze and underwrite potential acquisitions and dispositions of retail properties and portfolios. He or she will also manage due-diligence process for real estate investments while conducting thorough audit of property-level cash flows and projections.

WACHOVIA

Real Estate Risk Sr. Credit Manager

(VIRGINIA)

The credit manager will serve as the primary risk management contact for clients while underwriting, closing and managing new loan requests, renewals and modifications for commercial real estate loans.

TRAMMELL CROW RESIDENTIAL

Development Associate

(WASHINGTON)

This position will be responsible for assisting the managing director with market research, site acquisition, due diligence, managing the design process, financing and zoning.

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