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Jonathan A. Schein President & CEO Real Estate Media GlobeSt.com

06/25/03: What will save our intellectual capital? That may seem like an innocuous question, but it’s more of a threat than you think. In fact, at our recent RealShare Chicago conference, REIT guru Sam Zell stated flatly that “Intellectual outsourcing is a larger threat to the US than the exodus of manufacturing jobs overseas.” Sobering words–and they came with a still-more sobering analogy: Zell described his recent trip to India where he saw local college graduates replacing US workers on an outsourcing basis. Keep in mind that these are graduates earning $3,000 to $5,000 per year–about 85% less than the earnings of the US workers they were replacing. What does this say about our own job growth and recovery? The importance of maintaining our own intellectual franchise must be a high priority if we are to maintain our economic security.

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Furer

KUSHNER PROPERTIES (NEW JERSEY)The company has appointed long-time employee Donny Furer as director of commercial management. Furer is responsible for overseeing property management for all of the firm’s office, industrial and retail projects. He initially joined Kushner Companies in 1991 as property manager and over the past 12 years has taken on additional management projects.

Closson

PRUDENTIAL JOHN AAROE (LOS ANGELES) The company has promoted three members to regional management. John Closson now oversees the firm’s two west LA offices. Closson joined the firm to open the pacific Palisades office. Since then he has established the Prudential California division. Tom Dunlap oversees six offices in LA. Prior to joining the firm Dunlap owned an independent mortgage brokerage company which handled an expensive annual loan production. Kathy King is now responsible for the firm’s four Valley offices. King owned and operated her own firm for more than twenty-two years and has been actively involved with SRAR serving as chairperson on numerous committees.

Herold

RICHARDS BARRY JOYCE & PARTNERS (BOSTON, MA) Shannon Herald has joined the firm’s downtown team as an associate. Herold will focus on the leasing of office space for tenants and landlords in the downtown Boston market. She was previously with CB Richard Ellis focusing on investment sales and office leasing services in the metropolitan Hartford market.

Heskel

MANSUR CAPITAL (CHICAGO)The company has been appointed Dennis Heskel as managing director for the firm. Heskel will lead the marketing and operation of Ontario Partners, the firm’s highly successful hedge fund of funds. He brings more than 15 years of experience in investing and trading to the firm.

Thrasher

GLOBAL REALTY OUTSOURCING, INC. (STAMFORD, CT) Susan Thrasher joins the company as SVP, Residential Servies. Thrasher’s responsibilities will include business development for residential outsourcing services and the management of all aspects of the company’s residential operations, including the master servicing operation for a $25 billion client portfolio.

RREEF

Research Manager

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