05/05/05: The Federal Reserve doesn’t appear to be concerned about the latest disappointing reports that the economy may be slowing down. In fact, the Fed is still quite bullish on the expanding economy and proved so by increasing short-term interest rates by one quarter point–the eighth increase in the past 10 months. The board of governors has taken its bird’s-eye view of conditions and has determined that we’re still going strong. With the belief that we can withstand additional increases in lending rates, the Fed stated that it will continue to increase rates at a “measured” pace. However, much of these increases are due to inflationary pressures that have little to do with growth. Look, for example, at what is happening to energy prices. It will be interesting to see how the summer months will play out as the travel season heats up. How high can gas prices go before we go from expansion to contraction?
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MORRIS SOUTHEAST GROUP/CORFAC INTERNATIONAL (PLANTATION, FL) Joshua Kramer has been named senior associate at the firm, moving up from his previous position as associate. Kramer, who joined the company in 2002, is a specialist in tenant representation in South Florida.
INLAND REAL ESTATE AUCTIONS INC.(OAK BROOK, IL) Frank J. Diliberto has been promoted to president and CEO of the firm. He was hired as senior vice president in 2001. Diliberto is charged with leading the firm’s expansion into new markets.
TRIZEC PROPERTIES (CHICAGO) The company has promoted David Canaday, in the Atlanta office, Thom Ridnour, in Dallas, Paul Schulman, in Washington, DC, and Gerard Schumm, in New York City, to senior vice president positions.
THE DURST ORGANIZATION (NEW YORK CITY) New to the firm is John Grotto, who has become assistant vice president of leasing. Grotto was most recently director at Colliers ABR. He specializes in office and retail leasing in Manhattan.
RENDINA COS. (PALM BEACH GARDENS, FL) The company has tapped Harry R. Darling as executive vice president of construction and development for the eastern region. Darling was previously chief executive officer at Catalfumo Construction and Development Inc.
ALLIANCE COMMUNITIES (AUSTIN, TX) Alexander Condos has been named development director for this company’s newly opened Austin office. He was most recently responsible for directing mortgage banking at Investment Realty Co. LC in San Antonio.
MOHR PARTNERS (DALLAS) Chris Bargowski has joined the Chicago office as managing director. Bargowski was most recently director with ProTen Realty Group in Chicago. He will work in the office sector.
THE PIZZUTI COS. (COLUMBUS, OH) The organization has hired Christiane Isabell as senior property manager. Previously at Jones Lang LaSalle, she will oversee operations, finances and tenant relations in various properties.
Ideal candidate will originate new business on a national scale while also developing calling program, managing marketing, advising public and private real estate companies on corporate finance and coordinating all aspects of the transaction process. The latter includes financial modeling, due diligence, credit analysis, term-sheet preparation and negotiation and deal closing.
COMMERCIAL MORTGAGE SECURITIES ASSOCIATION
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