News
WHERE'S THE BEEF? (OR THE BIG CHEESE?)
April 27, 2011
| Yesterday, ULI members agreed there's a leadership crisis in business and government right now. (Donald Trump just obviously isn't trying hard enough to get noticed.) But they listened carefully tolocal execs as they went over the parts of their strategies that have worked over the last four years. | |||
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| Public and private companies both faced challenges during the recession, but they were different, Security Capital Research and Management's Tony Manno said. Private companies were having trouble getting capital while public companies struggled to create value. This resulted in firms taking little or no action and creating zombie companies. Jones Lang LaSalle's Lauralee Martin says the biggest challenge has been getting people to think differently. Corporations got addicted to the medicine that got us out of the last recession: cheap money. | |||
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| Heitman's Maury Tognarelli (right) says that a good management team will power through the recession, whether it's private or public. The key to that success is communication: Maury says there can never be too much. Equity Residential's David Neithercut (yes, he's making the rounds this week; we already featured him on Monday) says his company right-sized from 225,000 to 127,000 units and will continue to invest in only the best properties to keep its success going into the recovery. | |||
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| Some audience members are also seeing recovery: Morningside'sDavid Strosberg and Ron Wetzel (right) just celebrated the opening of River 595, a rehabbed apartment building in Des Plaines. The first tenants moved in three weeks ago. And OKW Architects' Jon Taltyis working on The Presbyterian House, designing new residences and a welcome center for the seniors housing facility in Evanston, and student housing at Illinois State. | |||
