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Happy Anniversary

The current economic malaise erupted one year ago this August, as I recall, and it seems like it was just yesterday. First, we thought it was simply a subprime mess affecting the residential front, but the situation slowly but surely evolved into almost a wholesale credit collapse. Now, one year later, the commercial real estate business is nowhere near a shutdown, but it is in a protracted slowdown. Nevertheless, on the hiring front, activity continues. In fact, hiring is quite active at strategic levels. We see companies hiring for new initiatives and to add bench strength. Senior capital market and investment professionals who can help sort out the dramatically changing market and help strategically prepare for emerging opportunities, albeit with very different ground rules, are particularly popular. What’s in store for the second anniversary of this mess? I expect that we’ll see renewed transaction activity, lots of workouts on the credit side and signs of life on the investment banking front as those who are left begin to gear up for a recovery.

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HINESProperty Manager(LOS ANGELES) Responsibilities include providing day-to-day operations management of a property and maintaining relationships with tenants and contractors.

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