by David Bodamer November 13th, 2008
Check out the spreads.
The spreads, for example, on CMBX-NA-BB4 went from 1,200 basis points to 4,200 basis points in one day.
This is clearly a reaction to Treasury Secretary Henry Paulson’s decision to alter the TARP program by deciding not to purchase any toxic assets after all. As Bloomberg points out, this means the return of systemic risk.
Did Paulson exacerbate the problem by proposing and eventually getting TARP? Did the commercial real estate industry make a mistake in getting behind this?
Related Topics: Finance, Management & Leasing, News, Retail Real Estate, Trends |
by David Bodamer November 13th, 2008
The release just hit the wires. Kimco Vice Chairman and Chief Investment Office David Henry will be the company’s president. Milton Cooper will remain Chairman and CEO, but “will also lead an expanded office of the chairman.”
David Lukes, an executive vice president, will become chief operating officer. Michael Flynn, the company’s previous chief operating officer, will retire effective December 31, 2008.
Michael V. Pappagallo, the company’s chief financial officer, has also been appointed chief administrative officer.
Collectively, Cooper, Henry, Lukes and Pappagallowill form the office of the chairman. “The office will set overall strategic direction for the company, determine investment policy and focus on organizational development.”
Related Topics: Management & Leasing, News, REITs, Retail Real Estate |
