Breaking News
troutmanBenchmark Hospitality Adopts New Business Intel System
Sometimes you have to invest money to save money, and it appears Benchmark Hospitality International has adopted that philosophy with the purchase of Pittsburgh-headquartered Aptech Computer Systems Inc.'s Execuvue Business Intelligence System.
New Firm to Focus on Hotel Investment
Anticipating opportunities to come, Ardent Hotel Advisors, a hospitality management and asset management company, has partnered with Steven Surgent to form Ardent Hotel Investors, a new entity that will invest in hotel properties nationwide.
mcwilliamsCNL, Macquarie Plan $1.5B Global REIT
Orlando-based CNL Financial Group and Sydney's Macquarie Group have joined forces for the first time to establish a new global REIT, CNL Macquarie Global Growth Trust Inc., which will pursue opportunities in just about every sector of commercial real estate in various areas around the world. The partners can afford to think big, as the proposed total offering for the REIT is $1.5 billion.
Dollar Retailing Seeing Good Times
The Dow Jones index took something of a dive yesterday, possibly because of ill tidings from the likes of Time Warner and Intel, or the anticipation of bad job market numbers, or maybe because it was time to yo-yo back to roughly where the market started at the beginning of the year. In any case, the Dow was down 245.40 points, or 2.72 percent, while the S&P 500 lost 3 percent exactly and the Nasdaq lost 3.23 percent.
Pending Home Sales, Factory Orders Dip
It isn't clear that the days of yo-yoing equity markets have gone away--just wait until the next international shock or surprise bankruptcy--but for the moment the Dow Jones index seems to have mellowed out. It fluctuated above its starting point yesterday and ended up gaining a modest 62.21 points, or 0.69 percent.


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CPN feature New Strategies
Uncertain times are causing commercial real estate executives to reexamine their companies. A relatively quiet investment and development market is, not surprisingly, leading to a reduction in hiring and in some cases layoffs, along with a number of executive changes at public REITs. A falloff in asset value suggests that reduced compensation packages are in order, as well.

Guest Column
Gary M. Tenzer Day in Court: Litigation Returns in Tough Economy
When things go wrong in commercial real estate transactions, litigation follows. This is especially prevalent during difficult times. Accordingly, as with the real estate recession of the early ’90s, the recent unprecedented downturn in the real estate economy and in market fundamentals has already spurred a substantial increase in the demand for litigation consulting and expert witness services, based on what I have seen in my own practice.

Letter from the Editor
A New Year’s Plan
Welcome to a new year—one that, I hope, brings better news than the last one. Granted, there are a lot of negative predictions, including higher CMBS loan delinquencies and at least another full year of poor economic performance for the nation, if not the world. More layoffs are expected, which can only reduce consumption further, and at least one entire U.S. industry is in need of a bailout to survive.
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