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

10/08/03: Pandemonium almost broke out with last week’s reported expansion of the nation’s payrolls by 57,000 jobs. This is welcome news. However, if you scratch a little below the surface, there are strong fundamental problems that still need to be addressed. Last week’s news pales in comparison to the nation’s burden of long-term joblessness–described as being out of work for 27 weeks or longer. This now represents 2.1 million people–the highest rate since November 1983. It can’t be overstated enough by economists, business leaders and our government officials how important this issue has become. The next year will show an incredible increase in rhetoric from those running for office. Let’s hope there is some actual detail in what they have to say. Simply saying that the economy will “cycle” out of this downturn is no longer good enough.

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MARCUS & MILLICHAP (CHICAGO) The firm announced the promotion of Donald Wenzel Jr. to senior director of its national multi housing group. In his new role he will focus on multi-family investments in the greater Chicago market. Wenzel has been with the firm since 1992 as an associate. Since then he has received six national sales achievement awards; ranked in the top 20 agents and earned the title of senior investment associate.


STAUBACH (NEW YORK) The company has promoted Paul Formichelli to director. In his new position, he will develop and oversee office and industrial leasing transactions for corporate clients.Since joining Staubach Formichelli has developed and completed transactions totaling over two million square feet.


RELATED CAPITAL CO. (NEW YORK) Stephen D. Roger has joined the firm as senior vice president in charge of capital transactions. Roger will oversee the dispositions and refinancing of affordable-housing properties with tax benefits expiring in the near future. He brings three decades of experience to the post and was previously a principal of Lend Lease LLC.


GE BUSINESS ASSET FUNDING (BELLEVUE, WA) Kale Gaston has been named managing director to lead a 10-member team in a newly formed region serving customers in southern states. Prior to joining the firm, Gaston managed sales teams with the Money Store Investment Corp., State Bank and Trust, and served as general manager of the Pikes Peak Regional Development Corp.

PIRCHER, NICHOLS & MEEKS (CHICAGO) Robert Walner has joined the firm as counsel in the corporate and securities department. Prior to joining Walner served as executive vice president; chief administrative; legal officer and corporate secretary for Grubb & Ellis, he also held position as senior vice president and general counsel for Balcor/American Express, Inc.


Leasing and Real Estate Marketing Director


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