Bankers Head to Church!

November 4, 2009

Tweet Barclays Plc Chief Executive Officer John Varley stood at the wooden lectern in St. Martin-in-the- Fields on London’s Trafalgar Square last night and told the packed pews of the church that “profit is not satanic.” The 53-year-old head of Britain’s second-biggest bank said banks are the “backbone” of the economy. Rewarding high- performing bankers […]


Recession Hits The Upper East Side

November 4, 2009

Tweet PBS Frontline had a special about a week ago where producer Ofra Bikel setup a camera in a salon in the Upper East Side of NYC to gain insight into the economic and personal situations of patrons… In Close to Home, Bikel sets up her cameras in the hair salon she’s patronized for 20 […]


Johnson & Johnson to Cut 8500 Globally

November 3, 2009

Tweet Johnson & Johnson (JNJ: 99.83 -0.19%) announced that it will be cutting about 7%, or about 8500 of its global workforce. The company has tentacles everywhere, so the cuts most likely won’t hit one market particularly hard, but nonetheless underscores some of the weakness in the sector. Two weeks ago, Pfizer announced that it […]


That Didn’t Take Long: Stuy Town Case Being Used as Precedent

October 26, 2009

Tweet Tenants at a Bronx apartment building at 1600 Sedgwick Avenue in Morris Heights will head to court today to make their case against landlord Riverview Redevelopment, which they say illegally hiked rents in their building. The residents face eviction for refusing to pay rent, following the landlord’s move to take 80 apartments in the […]


$4.50 NNN? You Must Be Joking

October 23, 2009

Tweet We’ve generally refrained from turning this blog into a Burbed for commercial real estate, but occasionally we see a listing that makes us reconsider. So in the Burbed spirit ladies and gentlemen, we would like to present you with 350 Winchester Blvd! Only $4.50 NNN (that’s $54 for those of you in SF). At […]


Laugh or Cry? 4-Year Old Buys A House

October 22, 2009

Tweet Ah, the great american tax credit. Not a deduction, but a fully refundable tax credit. And when you can get into a house for 3.5% down or less (with seller or other first time home buyer program help) with the government’s help, what did you expect to happen? It seems we’ve come a long way since […]


RREEF Outsources Retail Property Management

October 21, 2009

Tweet Completing its program of getting out of the property management business, RREEF Real Estate has outsourced about 11 million square feet of retail at 58 centers across the US, the company announced Wednesday. Jones Lang LaSalle, United Commercial Realty, Mid-America Asset Management Inc., Crosland and KeyPoint Partners will take over direct property management of […]


Government Sachs Exec To SEC Enforcement Post

October 18, 2009

Tweet The Securities and Exchange Commission tapped Goldman Sachs Group Inc. executive Adam Storch on Friday to serve as the agency’s first-ever chief operating officer of the enforcement division. Well, we can all surely rest easy now. Goldman seems to have now moved an executive over to their US Government desk, the SEC. This move […]


Dear Business Journal: Drop The Annoying Ads

October 17, 2009

Tweet The Business Journal is a pretty good publication. They manage to pump out a pretty good variety of news on a daily basis. They also cover a lot of different markets which make it a consistent source to look to when searching for current and past news. But, they have for a while been […]


How A Zoning Change Turned Into a Debate About Healthcare

October 16, 2009

Tweet Bay Area Surgical, seeking to open a new surgical center in Campbell has run into some serious opposition. On October 6th, the group was seeking a zoning change to convert an industrial property into a surgical center. What should have been a fairly straight-forward meeting turned into a session where some pretty heavy hitters contested […]

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