12/01/04: Two unrelated numbers–or actually one number shared by two disparate industries–figure heavily in the economy this week–8.5%. First, the Federal Housing Finance Board’s recent survey shows that the average price of a single – family home surged 8.5% in October. Second, Wal-Mart, which contributes to 8.5% of all non-automotive retail sales in the country, posted surprisingly disappointing sales over the Thanksgiving weekend. Coincidence? Of course. But it also underscores a key point. Two of the biggest components of a sustained economy are real estate and retail. And disparate industries though they may be, they are also related, for where homeownership grows, so grows retail. The question for the foreseeable future is not what the number is, but which direction will hold sway over the coming year.
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AZTEC CORP. (ISELIN, NJ) Deborah Walsh has been named principal at the firm, moving up from her previous role as associate. Walsh joined Aztec in 1995 and specializes in project management and space planning.
CENDANT CORP. (PARSIPPANY, NJ) The firm’s hotel group has promoted Peter Strebel to executive vice president and chief marketing officer. Strebel, who has been at Cendant since 2001, was formerly senior vice president for sales and marketing. In addition, the firm’s hospitality division has promoted Jean Thomas as corporate senior vice president of marketing. Thomas, a former senior vice president, joined Cendant in 2002.
CB RICHARD ELLIS (CHICAGO) The firm has promoted Samuel C. Delisi as senior managing director of asset services. Delisi was previously managing director and has been at CBRE since its merger with Insignia/ESG in 2003. He had joined that firm in 1999.
MACRO CONSULTANTS (NEW YORK CITY) Joann Galluccio has come on board as director of project management, specializing in office fixtures, furniture and equipment. She was most recently account manager at Waldner’s Business Environments.
THE TREELINE COS. (NEW YORK CITY) The firm has tapped Howard L. Schor as vice president of strategic operations and planning. Schor has a background in advertising and marketing services.
CUSHMAN & WAKEFIELD (NEW YORK CITY) Timothy Gibson has joined the firm as senior director, specializing in office leasing. He has left his prior post as senior managing director at CB Richard Ellis.
LEGACY PARTNERS RESIDENTIAL DEVELOPMENT (DALLAS) Spencer Stuart Jr. has been named senior vice president and partner, and will head the newly opened Dallas office. Prior to joining Legacy, Stuart was CEO of the Palladium Group EEIG – United States.
SWIG BURRIS EQUITIES (NEW YORK CITY) New to the firm is Todd E. Korren, who comes in as senior vice president and director of leasing. Korren was most recently managing director of the commercial division at Rockrose Development.
Successful candidate will prepare detailed financial models including investment assumptions, develop market analyses, manage assignments from initiation to closing in conjunction with senior partners and lead budgeting and cash-flow forecasting.
JP MORGAN CHASE
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