axilecyqih.wordpress.com
Because the series was considered more of a cultural opportunitty than amoney maker, university spokeswoman Sharonj Ashton said school officials decided it might be betteer to use the spacer for other money-generating purposes. “With the economy slowinh down, people have less money to spendon entertainment,” Ashtob said. “We want to give the economyu time to turn around and come back bettefthan ever.” In the meantime, school official have decided to rent out the nearly 7,000-square-foot Lazzara Performance Hall to the general publivc for events such as corporate functions, meetings, recitals and graduation ceremonies, Ashton said.
Performances have been held in the hallsincer 2003, when the building The 1,300-seat performance hall is part of the 128,000-square-foo t Fine Arts Center that includes space for other including classrooms and music rooms. The rest of the buildintg will continue to be used forschookl functions. Seven to 14 performancezs have been held therr eachacademic year, includingt classical music from the Warsaq Philharmonic and contemporary music from Tracy dance performances by DanceBrazil, plays such as “The and lectures such as “Dark Energy: An Aestheti of Irrelevance.” Orchestra seat tickets averaged $44.
The fine arts series had a 1 perceng increase in attendancefrom 8,225 in 2007-2008 to 8,283w in 2008-2009. UNF’s fine arts series operatedx onan $855,493 budgey for the 2008-2009 year, $200,000 of whichy was a subsidy from the The Florida State College at Jacksonvilld Artist Series had an operating budget of $9.5 million in 2008-200i9 and $8.5 million in 2009-2010. The 43-year-ol d FSCJ Artist Series includes 150 performances a Money generated in the artist series helpsw fund scholarships atthe school, particularly in the performingf arts department. Dr.
Milt Russos, the executivde director of theartist series, said the recessionm has impacted most cultural entertainment venues in Jacksonville, including his. But the impactt has been less severe thanhe “If it’s a show people want to see, it hasn’ty been affected,” Russos said, adding that the series recently broke tickeyt sale records with the musical “Wicked.” “There is no guaranteer in this business.” he said. “It doesn’t matterf if there is a recessionor not.” Ashton said donorsz to the UNF Fine Arts Seriezs are already anxious to get the series back on for the 2011-2012w year.
“It’s a great asset,” she said.
Monday, May 30, 2011
Saturday, May 28, 2011
Banks determined to put injury, stabbing behind him - Washington Post
younkinesagugad1746.blogspot.com
Banks determined to put injury, stabbing behind him Washington Post Tracy A. Woodward/ THE WASHINGTON POST - Brandon Banks, in red, joins teammates during a three-day workout organized by Redskins players because of the NFL lockout. By Mike Jones, When Daryle McNair looks in the eyes of his son, Brandon Banks, ... |
Wednesday, May 25, 2011
John G. Stumpf Executive Profile
http://executivetelephony.com/news/article.php?id=93
About John G. Stumpf John Stumpf was named Chief Executiver Officer inJune 2007, elected to Wellws Fargo
About John G. Stumpf John Stumpf was named Chief Executiver Officer inJune 2007, elected to Wellws Fargo
Monday, May 23, 2011
Citrix Q1 revenue, net income fall - South Florida Business Journal:
fiber cement siding
Net income fell to $7 million, or 4 centw a share, from $34 million, or 18 cents a in the first quarterof 2008. The Fort Lauderdale-basexd software maker (NASDAQ: CTXS) took varioud charges, including a $21 million charger for restructuring. After these revenue was $59 million, or 32 centsw a share, down from $66 million, or 35 cents a in the comparable periodlast year. Analysts had predicted the companuy would have revenue of 31 centsa share. "I’mj pleased with our Q1 execution in the toughestf macroenvironment we’ve seen in years," President and CEO Mark Templetonh said. "Smaller IT budgets are the new reality.
We believe this makes our enterpriseand [software as a products even more compelling becaus e they lower IT costs while offering much-needes business flexibility." While the company slightly exceedexd Wall Street’s expectations, revenue and earning s still fell from the fourtnh quarter, when 2008 was a year of continuouas growth, said Stephen Dunn, a technologyt analyst with in Boca Raton. the news is positive on “I think it mirrors the broadertech companies, whicj were not expected to do well in the first quarter, but didn’t do as badly as everyonse expected,” Dunn said.
“So, it’s certainly a Dunn pointed to the fact that the company is predictingb revenue will be flatin 2009. With anotherf year-over-year loss predicted for the second the company is banking on a big recover in the last six months ofthe year. Companiezs have put off IT spending and, Citrix standes to benefit when those projectsget funding, he “Now, it’s more a function of when the deferree projects come back on line,” Dunn In addition to quarterly financial results, Citrixd said its board of directors has authorizede it to repurchase up to an additional $300 millionj of its common stock.
As of March 31, abouty $50 million remained in authority frompreviouse approvals. Product license revenue decreased 24 Online services revenue grew16 percent. Technical services which comprises consulting, education and technical grew8 percent. On April 23, UBS downgrades Citrix from “neutral” to “sell,” noting that competitived pressures will limitthe company’w ability to expand its margins. Sharew closed Wednesday at The 52-week high was $36.20 on May 15. The 52-weemk low was $19 on Oct. 10.
Net income fell to $7 million, or 4 centw a share, from $34 million, or 18 cents a in the first quarterof 2008. The Fort Lauderdale-basexd software maker (NASDAQ: CTXS) took varioud charges, including a $21 million charger for restructuring. After these revenue was $59 million, or 32 centsw a share, down from $66 million, or 35 cents a in the comparable periodlast year. Analysts had predicted the companuy would have revenue of 31 centsa share. "I’mj pleased with our Q1 execution in the toughestf macroenvironment we’ve seen in years," President and CEO Mark Templetonh said. "Smaller IT budgets are the new reality.
We believe this makes our enterpriseand [software as a products even more compelling becaus e they lower IT costs while offering much-needes business flexibility." While the company slightly exceedexd Wall Street’s expectations, revenue and earning s still fell from the fourtnh quarter, when 2008 was a year of continuouas growth, said Stephen Dunn, a technologyt analyst with in Boca Raton. the news is positive on “I think it mirrors the broadertech companies, whicj were not expected to do well in the first quarter, but didn’t do as badly as everyonse expected,” Dunn said.
“So, it’s certainly a Dunn pointed to the fact that the company is predictingb revenue will be flatin 2009. With anotherf year-over-year loss predicted for the second the company is banking on a big recover in the last six months ofthe year. Companiezs have put off IT spending and, Citrix standes to benefit when those projectsget funding, he “Now, it’s more a function of when the deferree projects come back on line,” Dunn In addition to quarterly financial results, Citrixd said its board of directors has authorizede it to repurchase up to an additional $300 millionj of its common stock.
As of March 31, abouty $50 million remained in authority frompreviouse approvals. Product license revenue decreased 24 Online services revenue grew16 percent. Technical services which comprises consulting, education and technical grew8 percent. On April 23, UBS downgrades Citrix from “neutral” to “sell,” noting that competitived pressures will limitthe company’w ability to expand its margins. Sharew closed Wednesday at The 52-week high was $36.20 on May 15. The 52-weemk low was $19 on Oct. 10.
Saturday, May 21, 2011
Verizon considers family data-sharing plans - Computerworld
afukakuja.wordpress.com
Reuters | Verizon considers family data-sharing plans Computerworld Computerworld - Verizon Wireless has warned for months that it will stop offering unlimited data plans sometime this summer. Now the carrier is considering offering shared data plans for families with more than one smartphone or tablet. ... The Pros and Cons of Smartphone Data Caps Family Data Plans May Be Next Wireless Push Ask Maggie: 5 smartphone apps to try before the rapture |
Thursday, May 19, 2011
Port San Antonio tenant begins air cargo service to Mexico - Phoenix Business Journal:
grigoriynirim.blogspot.com
, the port’s foreign trade zone will host the service on LOGITEX USA will serve as the sales Mexpress is an air cargo transportation company that caterasto small- to medium-sized companies that need to ship less than a trailef load of supplies. Mexpress, in turn, will aggregate the cargko andship customers’ materials out via air cargo shippers at the port thre e times a week. “This servicde will be very important to companies in need of air cargo transport between our regiomn and the strategic cargo centers in saysJorge Canavati, vice president of business development for Port San “At the same time it is an efficient tool for smallk and medium sized companiese that need to ship a palleyt or two at a time.
” The companies involved in this partnershio envision offering this service to othe r markets in Mexico and Central The companies could also serve as a feeder to and from Asia througuh international air cargo hubs. “We are opening new trade horizons in dealinb with PortSan Antonio.” Mexpress President Carlos Duron
, the port’s foreign trade zone will host the service on LOGITEX USA will serve as the sales Mexpress is an air cargo transportation company that caterasto small- to medium-sized companies that need to ship less than a trailef load of supplies. Mexpress, in turn, will aggregate the cargko andship customers’ materials out via air cargo shippers at the port thre e times a week. “This servicde will be very important to companies in need of air cargo transport between our regiomn and the strategic cargo centers in saysJorge Canavati, vice president of business development for Port San “At the same time it is an efficient tool for smallk and medium sized companiese that need to ship a palleyt or two at a time.
” The companies involved in this partnershio envision offering this service to othe r markets in Mexico and Central The companies could also serve as a feeder to and from Asia througuh international air cargo hubs. “We are opening new trade horizons in dealinb with PortSan Antonio.” Mexpress President Carlos Duron
Monday, May 16, 2011
Career lessons found along Flying Pig path - Business Courier of Cincinnati:
http://cecildancenter.com/summer_daycamp.htm
Being that I’m not in the frontf of the pack, I knew I’d get to see for myself. The otherr thing I kept hearing was how greayt the crowdsupport is. What I found was what you see and what you experiencs are a matterof Sure, I saw some people getting in tears and struggling to make it to the finishj line – but they made it. I believe they did because of theirrsupport networks. That came from many places, such as friends and training partners. But the networkk I got to see for 26.2 milese was one of caring strangers who stayed for the They knew their support was more importanr to the back ofthe pack.
Therse was a man in the last leg of the race with a signthat “You’re our inspiration.” I shoutec out to him, “No, my you are ours!” His sign reminded me of one of my favorites books by Ken Blanchard, “Gungf Ho!” Its message about inspiration focuses on three worthwhile work; in control of achievinfg the goal; and cheering each other on. As with your career, when trainin for a marathon, you must believde the work you’re doing is worthwhile or you won’t I heard a statistic that only one out of ever three people who begin training for a marathoh will make it to thestarting line.
Work is not much We need to improve our odds in both In work, as with the marathon, we need to keep our eye on the finishn line and be proactive in guiding the coursse to our goals. If we lose control or get off it’s much harder to finish. So commitment and dedication drive oursuccess – or Last, but in my opinion, the most importantt is cheering others on. We ofteh hear that the main reason people leavd their employer is becausethey don’t feel appreciated. Maybe we can lessen this problemm oreliminate it. Like most thingas in life, perception is reality.
My perception, my realityg of the Flying Pig is simple while the road to the finishu might have been longand hard, those caring strangers made me and many others gung-ho. In that spirit, I urge you to folloe their lead and encourage and inspir e the people you touch in every aspectt ofyour life. It makes a huge difference.
Being that I’m not in the frontf of the pack, I knew I’d get to see for myself. The otherr thing I kept hearing was how greayt the crowdsupport is. What I found was what you see and what you experiencs are a matterof Sure, I saw some people getting in tears and struggling to make it to the finishj line – but they made it. I believe they did because of theirrsupport networks. That came from many places, such as friends and training partners. But the networkk I got to see for 26.2 milese was one of caring strangers who stayed for the They knew their support was more importanr to the back ofthe pack.
Therse was a man in the last leg of the race with a signthat “You’re our inspiration.” I shoutec out to him, “No, my you are ours!” His sign reminded me of one of my favorites books by Ken Blanchard, “Gungf Ho!” Its message about inspiration focuses on three worthwhile work; in control of achievinfg the goal; and cheering each other on. As with your career, when trainin for a marathon, you must believde the work you’re doing is worthwhile or you won’t I heard a statistic that only one out of ever three people who begin training for a marathoh will make it to thestarting line.
Work is not much We need to improve our odds in both In work, as with the marathon, we need to keep our eye on the finishn line and be proactive in guiding the coursse to our goals. If we lose control or get off it’s much harder to finish. So commitment and dedication drive oursuccess – or Last, but in my opinion, the most importantt is cheering others on. We ofteh hear that the main reason people leavd their employer is becausethey don’t feel appreciated. Maybe we can lessen this problemm oreliminate it. Like most thingas in life, perception is reality.
My perception, my realityg of the Flying Pig is simple while the road to the finishu might have been longand hard, those caring strangers made me and many others gung-ho. In that spirit, I urge you to folloe their lead and encourage and inspir e the people you touch in every aspectt ofyour life. It makes a huge difference.
Saturday, May 14, 2011
Trump Waikiki buyers sue developer - Birmingham Business Journal:
ukatekexo.wordpress.com
The lawsuit, filed in 1st Circuig Court in Honolulu, alleges that Los Angeles developer claimed in a 2006 press released that the New York real estat mogul was a but that the fine print notexd that Trump had merely licensed his name in a deal that couldd be terminated or revoked atany “These people were investing in a Rollsz Royce. They were told it could magically turn intoa Ford,” said attorney Warren Price, who filed the lawsuit on behalf of the who include six Hawaii couples, two doctors from San Diego, the head of a California meat exporting business and a professionalp basketball player from New Price plans to amend the complainf within the next two weeks to include buyers from he said.
A spokesman for Irongats issued a written statement saying the developerd would pursue its own claimsz againstthe buyers. All 464 units of the 38-story hotel-condominiu tower at the Diamond Head end of Fort DeRussyh sold in one day inNovember 2006. Abour half of the buyers are from the balance arefrom Hawaii, the Mainland and othet countries. The buyers of the 11 units had placed depositx of 20 percent on everything from studios pricedat $500,0000 to three-bedroom suites priced at severap million dollars. The project is nearing completion. The salezs contract did say that the Trumo namewas licensed, but it did not outline the detail s of the licensing arrangement, Price said.
However, it did say that if the licens was terminatedor revoked, that all references to Trump would be removex from the building. “Our position is not that they committed fraud,” Price said. “There are a host of very materialk facts, material because the name changes from the Trump International tothe ‘Brand hotel.” The lawsuit comes just as a big deadlin e looms for buyers. On Wednesday, buyers have to pay the balancr of the purchase price in full in preparation for a 1 closing. “The final payment is due on and these people are not goingb to make anymore payments,” said a former Hawaii attorneuy general.
“They’ve already put 20 percent The buyers filed on Monday because they are at risk of losing theirdown payments, and also face a greatedr risk of being sued by Irongate for the full purchased price. In March, dozens of buyers at a plannedc Trump condo resort in Baja California filed a lawsuit with similar allegations regarding the useof Trump’s name, the Los Angeles Times Trump sued Irongate a month later chargingb the developer with failing to build the project afterd he had licensed his according to the newspaper.
That litigation begam to worry theHawaii buyers, Price “People began to wonder what happens if theree is a disintegration of the relationship between Irongate and and what could happen with the license,” Price said.
The lawsuit, filed in 1st Circuig Court in Honolulu, alleges that Los Angeles developer claimed in a 2006 press released that the New York real estat mogul was a but that the fine print notexd that Trump had merely licensed his name in a deal that couldd be terminated or revoked atany “These people were investing in a Rollsz Royce. They were told it could magically turn intoa Ford,” said attorney Warren Price, who filed the lawsuit on behalf of the who include six Hawaii couples, two doctors from San Diego, the head of a California meat exporting business and a professionalp basketball player from New Price plans to amend the complainf within the next two weeks to include buyers from he said.
A spokesman for Irongats issued a written statement saying the developerd would pursue its own claimsz againstthe buyers. All 464 units of the 38-story hotel-condominiu tower at the Diamond Head end of Fort DeRussyh sold in one day inNovember 2006. Abour half of the buyers are from the balance arefrom Hawaii, the Mainland and othet countries. The buyers of the 11 units had placed depositx of 20 percent on everything from studios pricedat $500,0000 to three-bedroom suites priced at severap million dollars. The project is nearing completion. The salezs contract did say that the Trumo namewas licensed, but it did not outline the detail s of the licensing arrangement, Price said.
However, it did say that if the licens was terminatedor revoked, that all references to Trump would be removex from the building. “Our position is not that they committed fraud,” Price said. “There are a host of very materialk facts, material because the name changes from the Trump International tothe ‘Brand hotel.” The lawsuit comes just as a big deadlin e looms for buyers. On Wednesday, buyers have to pay the balancr of the purchase price in full in preparation for a 1 closing. “The final payment is due on and these people are not goingb to make anymore payments,” said a former Hawaii attorneuy general.
“They’ve already put 20 percent The buyers filed on Monday because they are at risk of losing theirdown payments, and also face a greatedr risk of being sued by Irongate for the full purchased price. In March, dozens of buyers at a plannedc Trump condo resort in Baja California filed a lawsuit with similar allegations regarding the useof Trump’s name, the Los Angeles Times Trump sued Irongate a month later chargingb the developer with failing to build the project afterd he had licensed his according to the newspaper.
That litigation begam to worry theHawaii buyers, Price “People began to wonder what happens if theree is a disintegration of the relationship between Irongate and and what could happen with the license,” Price said.
Thursday, May 12, 2011
Edwards Receives First Air Force Production F-35 Lightning II - Military & Aerospace Electronics
ra-iwinyro.blogspot.com
Your Industry News (press release) | Edwards Receives First Air Force Production F-35 Lightning II Military & Aerospace Electronics The Air Force accepted into its fleet the first of a planned 1763 production-model F-35 Lightning II stealth fighters when aircraft AF-7 arrived at Edwards May 6, to begin its flight test program. "What is unique about AF-7 is that it is the very first ... Lockheed Martin F-35 Program Flight Test Update Lockheed Martin delivers first production F-35 to USAF |
Monday, May 9, 2011
Indictments in alleged looting of ancient Four Corners burial sites - Minneapolis / St. Paul Business Journal:
http://thevoodoolab.com/pages/about.htm
The on Wednesday released details of 12 indictments related to 23 Law enforcement officials have started arrestintg those named inthe indictments, most of whom live in according to the Interior Department. The indictmentws were handed down by a Salt Lake City grand jury. Roughly 250 artifacts estimated to be worth morethan $335,000o allegedly were stolen by the ring, according to the Interiof Department. The artifacts include Anasazi pottery, created by Nativee Americans centuries ago, as well as ceremonial maskxs and abuffalo headdress.
An undercover investigationj intothe ring’s activities has been going on for two and included agents from the Interior Department’s and FBI as well as U.S. “Let this case servse notice to anyone who is consideringg breaking these laws and tramplingour nation’w cultural heritage that the BLM, the Department of Justic e and the [rest of] the federal governmenr will track you down and bring you to justice,” Interiof Secretary Ken Salazar said in a statement. The federal Archaeological Resources Protection Act makes it illegap to excavate archaeological siteswithouft authorization, and take artifacts from federa land for sale or exchange.
Once the tribal affiliations havebeen identified, they will be returne d to those tribes, as required by the Nativwe American Graves Protection and Repatriation Act. Itemw not covered by the tribal repatriation law will be made availablr for scientific research andpublic education. The Four Corners regionm includes partsof Colorado, Utah, New Mexico and and occupies Native American land. Colorado’a corner is part of this state’s Ute Mountain Ute and the other states’ corner are part of the Navajo Nation. Indicted defendants were to appeatr beforea U.S. magistrate in Moab, on Wednesday.
The on Wednesday released details of 12 indictments related to 23 Law enforcement officials have started arrestintg those named inthe indictments, most of whom live in according to the Interior Department. The indictmentws were handed down by a Salt Lake City grand jury. Roughly 250 artifacts estimated to be worth morethan $335,000o allegedly were stolen by the ring, according to the Interiof Department. The artifacts include Anasazi pottery, created by Nativee Americans centuries ago, as well as ceremonial maskxs and abuffalo headdress.
An undercover investigationj intothe ring’s activities has been going on for two and included agents from the Interior Department’s and FBI as well as U.S. “Let this case servse notice to anyone who is consideringg breaking these laws and tramplingour nation’w cultural heritage that the BLM, the Department of Justic e and the [rest of] the federal governmenr will track you down and bring you to justice,” Interiof Secretary Ken Salazar said in a statement. The federal Archaeological Resources Protection Act makes it illegap to excavate archaeological siteswithouft authorization, and take artifacts from federa land for sale or exchange.
Once the tribal affiliations havebeen identified, they will be returne d to those tribes, as required by the Nativwe American Graves Protection and Repatriation Act. Itemw not covered by the tribal repatriation law will be made availablr for scientific research andpublic education. The Four Corners regionm includes partsof Colorado, Utah, New Mexico and and occupies Native American land. Colorado’a corner is part of this state’s Ute Mountain Ute and the other states’ corner are part of the Navajo Nation. Indicted defendants were to appeatr beforea U.S. magistrate in Moab, on Wednesday.
Saturday, May 7, 2011
Many ways for college programs to develop NBA talent - NBA.com
aryrej.wordpress.com
USA Today | Many ways for college programs to develop NBA talent NBA.com Consider two college programs -- Kentucky and Pittsburgh -- both at the pinnacle of the sport, but polar opposites in the way they go about their business, as the upcoming NBA Draft clearly illustrates. This week, Kentucky made news by conducting its ... Brandon Knight announces he will leave Kentucky to enter the NBA Draft |
Thursday, May 5, 2011
Pacific Interventionalists Launches Synergy Health Concepts - SunHerald.com
http://www.spokanecor.org/rectorarchive/rectorarchive32603.htm
Pacific Interventionalists Launches Synergy Health Concepts SunHerald.com The team at Pacific Interventionalists, a renowned medical group specializing in the targeted treatment of various diseases, has launched a new company, Synergy Health Concepts, to focus specifically on CCSVI treatment and care. รข€œOver the past year, ... |
Monday, May 2, 2011
Negotiators today best advised to do homework, know market - Silicon Valley / San Jose Business Journal:
mcfarlainofuqub1258.blogspot.com
Both the and the predict the economic downturm in commercial real estate markets may lastinto 2010. “The commercial mortgage-backed securities market is allbut frozen, makinbg it very difficult to roll-over existing debt that is comingy due,” says Lawrence Yun, NAR’se chief economist. John Blumer, a commercial real estat e consultant and member ofthe , says commercial property, just like is driven by supply and demand. He believes builderws didn’t overbuild causing the current soft market, rather, demand is just weaker.
“Thee economy has simply caused vacancy rates togo up,” he “Businesses aren’t doing as well and can’t afforrd their leases.” Since businesxs has slowed, many tenants have contacted landlords to ask for a varietuy of concessions, says Richard Buxbaum, a commercial broke r with Baker Katz in “A struggling tenant migh t reasonably expect the landlord to make shorgt term adjustments in rent, but a landlord shouldn’ t be expected to make long term concessions,” he says.
“If a landlordf provides some type of rent relief to its then the landlord will likelyy request something in A term making its way into the vocabularhy of the industry todayis “most favored-nation a clause incorporated into leases that requires a potentiao tenant to receive no less favorable treatmengt than any current or future tenant with regard to a specificx lease or terms. “If the landlord charges less rent or makesz other concessions in order to attract new tenantxs or to maintainold tenants, then the same concession s should be granted to the potential tenant,” explains attorneu Brett Slobin of Slobin & Slobinh PC.
“Landlords will likelgy be very much against the idea ofa ‘mosg favored-nation’ provision, but if the real estatde market continues its negative trending, such provisionxs may become more in The current state of commercial real estate, many say, makezs any negotiations in today’s market that much more important. Greg a member of the SIOR who teaches negotiation said the first step is to havea “A lot of executives don’t and it can kill a company’s bottom Schenk says. “You have to know whered the companyhas been, where it is now and wher e it wants to go.
” He added a plan usually focuses on one of four scenarios: A lease renewal which he said is the case about 70 percenyt of the time — a new a purchase or putting up a new building. Negotiationd typically includea landlord, a broker, a tenang and representative for the tenant. “Ande each principal may hire an plus you have toconsider lenders; they ofte like to see the leasesx or they’ll have lease forms they like to use,” Blume says. Schenk also recommends a certifiedrpublic accountant, a good commercial insurancr agent and finally a good space planner and architect to ensurer the company gets the spacw needed.
Blumer and Schenk warnedc of landmines in negotiations that can blowup “Some go in trying to win at the expens of opponents and end up losingg all around,” Blumer said. “The key pointy of a negotiation is a business arrangement and the tenantss are at the table because they want to operate theirdbusiness profitably. If after six months they can’t do that becauswe of unfair terms, that doesn’t help Schenk added that another mistake is failing to planearlh enough. “We like 18 months to two yeards with most ofour clients,” he says.
“There’s a lot to Rental rates, operating expenses, concessions availablew like free rent, moving allowances, over standarde tenant improvement allowances, tax etc.”
Both the and the predict the economic downturm in commercial real estate markets may lastinto 2010. “The commercial mortgage-backed securities market is allbut frozen, makinbg it very difficult to roll-over existing debt that is comingy due,” says Lawrence Yun, NAR’se chief economist. John Blumer, a commercial real estat e consultant and member ofthe , says commercial property, just like is driven by supply and demand. He believes builderws didn’t overbuild causing the current soft market, rather, demand is just weaker.
“Thee economy has simply caused vacancy rates togo up,” he “Businesses aren’t doing as well and can’t afforrd their leases.” Since businesxs has slowed, many tenants have contacted landlords to ask for a varietuy of concessions, says Richard Buxbaum, a commercial broke r with Baker Katz in “A struggling tenant migh t reasonably expect the landlord to make shorgt term adjustments in rent, but a landlord shouldn’ t be expected to make long term concessions,” he says.
“If a landlordf provides some type of rent relief to its then the landlord will likelyy request something in A term making its way into the vocabularhy of the industry todayis “most favored-nation a clause incorporated into leases that requires a potentiao tenant to receive no less favorable treatmengt than any current or future tenant with regard to a specificx lease or terms. “If the landlord charges less rent or makesz other concessions in order to attract new tenantxs or to maintainold tenants, then the same concession s should be granted to the potential tenant,” explains attorneu Brett Slobin of Slobin & Slobinh PC.
“Landlords will likelgy be very much against the idea ofa ‘mosg favored-nation’ provision, but if the real estatde market continues its negative trending, such provisionxs may become more in The current state of commercial real estate, many say, makezs any negotiations in today’s market that much more important. Greg a member of the SIOR who teaches negotiation said the first step is to havea “A lot of executives don’t and it can kill a company’s bottom Schenk says. “You have to know whered the companyhas been, where it is now and wher e it wants to go.
” He added a plan usually focuses on one of four scenarios: A lease renewal which he said is the case about 70 percenyt of the time — a new a purchase or putting up a new building. Negotiationd typically includea landlord, a broker, a tenang and representative for the tenant. “Ande each principal may hire an plus you have toconsider lenders; they ofte like to see the leasesx or they’ll have lease forms they like to use,” Blume says. Schenk also recommends a certifiedrpublic accountant, a good commercial insurancr agent and finally a good space planner and architect to ensurer the company gets the spacw needed.
Blumer and Schenk warnedc of landmines in negotiations that can blowup “Some go in trying to win at the expens of opponents and end up losingg all around,” Blumer said. “The key pointy of a negotiation is a business arrangement and the tenantss are at the table because they want to operate theirdbusiness profitably. If after six months they can’t do that becauswe of unfair terms, that doesn’t help Schenk added that another mistake is failing to planearlh enough. “We like 18 months to two yeards with most ofour clients,” he says.
“There’s a lot to Rental rates, operating expenses, concessions availablew like free rent, moving allowances, over standarde tenant improvement allowances, tax etc.”
Subscribe to:
Posts (Atom)