Quantcast

Latest Articles

Adobe Cuts 680 – 9% of Workforce

November 10, 2009

Adobe Systems (ADBE: 64.04 +1.59%) has confirmed reports of layoffs by filing an 8-K with the SEC. The final cuts are 680 full-time employees, which amounts to about 9% of the company’s workforce, with a large number of cuts being here locally in the valley.

Commercial Real Estate Lending Remains Tight

November 10, 2009

The Federal Reserve released yesterday its October 2009 Senior Loan Officer Opinion Survey on Bank Lending Practices. Generally speaking, standards are still tightening at many banks, and banks are pushing out distress by extending loans. The October survey included a special question on the status of CRE loans on banks’ books that, at the beginning of 2009, […]

Adobe Reportedly Laying Off 15%

November 10, 2009

Reports are circling around the web that San Jose-based Adobe (ADBE: 64.04 +1.59%) is having layoffs today. Some (unconfirmed) reports put the number at up to 15% of staff (this likely includes contractors). We will be hearing of deals getting done over the next few quarters, some fairly big, but the thing to keep in […]

Weakness In Apartments; San Jose Rent Falls Most

November 10, 2009

With unemployment at record numbers, it is no mystery that rents and vacancy rates would weaken in apartments. Especially hit hard are high priced areas such as San Jose, New York, and San Francisco, places where tenants typically leave if they remain jobless. What is also fueling the decline in vacancy rates is the home buyer tax […]

Electronic Arts To Slash 1500 Jobs

November 10, 2009

Redwood Shores’ Electronic Arts (ERTS: 0.00 N/A) has announced that it will be cutting about 1500 additional jobs. These jobs cuts come on top of about 1100 jobs in February of 2009 cut in and 600 in October of 2008. The company recently bought its headquarters in Redwood Shores for some $233M.

Management Fees Down; Hurdle Rates Up

November 10, 2009

Raising money for a new fund? Cut your management fee and throw off better returns. That’s the trend following years of mismanagement by many real estate investment firms who continued to invest wildly despite clearly being in a market which was detached from historical norms and reality. Pension funds, endowments, and other investors are now […]

Calling Gordon Gekko

November 7, 2009

Definitely time for Gordon Gekko to do a sequel. We make the rules, pal. The news, war, peace, famine, upheaval, the price of a paper clip. We pick that rabbit out of a hat while everybody sits around wondering how the hell we did it. Now you’re not naïve enough to think that we’re living […]

Stuyvestant Town’s $3B Loan Goes to Special Servicing

November 7, 2009

Not really news as the previous income and debt-coverage numbers revealed this asset is in a world of hurt, not to mention the hit it will take as a result of all the legal wrangling going on about rent controls. This is one big capital stack. Fitch has already reduced CMBS ratings on a number […]

United Commercial Bank Goes Down

November 6, 2009

United Commercial Bank of San Francisco has bitten the dust. The FDIC took over UCB on Friday. United Commercial Bank got into a lot of trouble with its commercial real estate loan portfolio recently, taking hits on loans made on assets such as Vietnam Town, and Cupertino Square/Vallco Mall. It has significant assets however, including […]

4280 Hacienda in Pleasanton In Default

November 6, 2009

A notice of default was filed on the 141,000 SF Britannia II building in Pleasanton. The building is 141,000 SF, and has a $41M first deed of trust on it with Bank of America. The property sits on about 8.3 acres. The notice of default was filed on October 27, 2009. Asking rate is $1.75 […]

Page 20 of 99« First...10...1819202122...304050...Last »