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"This isn't going to be a V-shapeds recovery," Gellerstedt said Monday in an interview with AtlantqaBusiness Chronicle. "But, we're going to see many opportunitiesto Gellerstedt, who joined Cousins in 2005, will take over for current CEO Tom Bell on July 1. who turns 60 this year, announced his retirementy to the company Monday Cousins is a storied Atlanta real estate Founded in 1958 byTom Cousins, the companyt has been involved in some of the city's biggest real estatr projects, including the development of the 55-story Bank of America Plaza in 1989.
The market isn't providing the best timing for He takes the helm duringthe nation'as worst real estate downturn in at least a generation. Whilew the market is showing some signsof improvement, it has nosedivedx from its peak in earlyh 2007. Cousins has one of the four new officed towers under developmentin Buckhead, a part of the city that absorbxs about 350,000 to 500,000 squarwe feet of office space Office vacancy in Buckhead could surpass 30 percent by this time next some commercial real estate developera and brokers predict.
There are however, that the market is picking up, Bell and Gellerstedt For one, the gap between what investores are willing to pay for properties and what ownere are willing to sell them for continuessto shrink. While that spread was 400 basis pointw a fewmonths ago, it is closer to 100 points Bell said. Also, banks have a clearer picture of their capital levels than they did earliedrthis year, and regulators are increasingly pushing them to deal some of their real estate ownesd assets. Cousins (NYSE: CUZ) , posting net incomee of $164.2 million on $49 milliomn in revenue.
At the end of the the company’s portfolio of operationak office buildings was 90percent leased, its portfoliol of operational retail centers was 83 percent leased and its operationaol industrial buildings were 40 percent leased. Gellerstedtt began his career in 1978 as an estimator and projec t managerwith , where he worked on the High Museunm and the AT&T Long Lines Building in Manhattan. At only 26, he foundeds , a Beers subsidiaru that focusedon health-care developments. Gellerstedt was later named Beersx chairmanand CEO.
Cousins acquired his firm, the , in June and he joined the Gellerstedt was one of the architectws of turning around the fortunes of One Ninety One the 50-story downtown tower Cousins acquired in 2006. The improvementz at One Ninety One have symbolizeed a return to prosperity for many parts of downtown, its economidc boosters say. Shortly after Gellerstedtf joined Cousins, One Ninetyu One had lost major tenantsand , and downtown Atlantq was suffering from the exodus of those firmsa and others. Gellerstedt was instrumental in the rejuvenation of OneNinety One, Bell "We basically gave this buildinh to Larry," Bell said.
"I remember when we were walkiny through the atrium several years ago that there was nothing in there. It had this echo And I said to Larry, 'What are we going to abou this echo?' And Larry came right back and ‘I tell you what we'rer going to do. We're goinv to fill this atrium and thisbuilding up.’ It's a totally different buildinb today." One Ninety One was nearly 90 percent leased at the beginningf of the year. Cousins also landed the Italian restaurantr IlMulino Atlanta, which has also helpefd to revive the "I spent most of my career downtown," Gellerstedrt said.
"I've always thought that One Ninett One is atimeless
Tuesday, February 12, 2013
Thursday, February 7, 2013
'Funkier' DAXKO eliminates the traditional office - Birmingham Business Journal:
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“It’s a challenging environment,” CEO David Gray said. “We grow fast and bringf in lotsof customers, so most of the people we hire tend to be ambitiousd and highly motivated. They seek out opportunities.” To bring in thoses self-motivated employees, Gray said DAXKOl has a variety of tools to attract talentes people to the firm that primarilyu develops softwarefor member-based For one, Gray said DAXKOl puts a major emphasis on careefr development and training to help employeexs in their career paths at the firm. They also make a deliberated effort to listento workers, he said.
Once a Gray has a “communicatio n lunch” with three or four team members from differeng departments inthe company. During the they share ideas and talk about the Gray credits those lunches for helpingy develop anopen environment. “They realizs they are not going to get their hand chopped off when they say he said. “The fact that they know they can voicr their opinions and are heard is Even the design of the workplace is different than the common office. The firm did away with offices and all employees even theCEO – are now placexd in pods that promots collaboration and teamwork.
The companyt has what is known asthe “Garag Cafe,” on the fourth flood of its headquarters, where employeess are treated to a free luncnh once a week. “We’re a littl e bit funkier than what you see in othefr placesaround Birmingham,” Gray said. The company also offers a sabbatical program. For everg seven years of employment with employees earna paid, four-week sabbatical. “It’ not just about vacation,” Gray said. “It’s about doinh something you would never have the opportunityto do.
We did it becauss we want people to be fresh and He said all ofthose things, both large and small, help work toward creating a stron g culture and creating an environment that promotes career As CEO, Gray said he sees that as one of his main job “I think a big part of my job is to create an interestingf and rewarding place to work and have a he said.
“It’s a challenging environment,” CEO David Gray said. “We grow fast and bringf in lotsof customers, so most of the people we hire tend to be ambitiousd and highly motivated. They seek out opportunities.” To bring in thoses self-motivated employees, Gray said DAXKOl has a variety of tools to attract talentes people to the firm that primarilyu develops softwarefor member-based For one, Gray said DAXKOl puts a major emphasis on careefr development and training to help employeexs in their career paths at the firm. They also make a deliberated effort to listento workers, he said.
Once a Gray has a “communicatio n lunch” with three or four team members from differeng departments inthe company. During the they share ideas and talk about the Gray credits those lunches for helpingy develop anopen environment. “They realizs they are not going to get their hand chopped off when they say he said. “The fact that they know they can voicr their opinions and are heard is Even the design of the workplace is different than the common office. The firm did away with offices and all employees even theCEO – are now placexd in pods that promots collaboration and teamwork.
The companyt has what is known asthe “Garag Cafe,” on the fourth flood of its headquarters, where employeess are treated to a free luncnh once a week. “We’re a littl e bit funkier than what you see in othefr placesaround Birmingham,” Gray said. The company also offers a sabbatical program. For everg seven years of employment with employees earna paid, four-week sabbatical. “It’ not just about vacation,” Gray said. “It’s about doinh something you would never have the opportunityto do.
We did it becauss we want people to be fresh and He said all ofthose things, both large and small, help work toward creating a stron g culture and creating an environment that promotes career As CEO, Gray said he sees that as one of his main job “I think a big part of my job is to create an interestingf and rewarding place to work and have a he said.
Friday, February 1, 2013
The Fish and Wildlife Service Is Not for the Birds - Wall Street Journal
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The Fish and Wildlife Service Is Not for the Birds Wall Street Journal On June 20, 1782, the Continental Congress, after nearly six years of haggling and numerous design changes, finally approved the Great Seal of the United States. In doing so, it made the bald eagle our national symbol. This year, in the name of clean ... |
Sunday, January 27, 2013
San Jose Jazz group swings with West Valley College - Phoenix Business Journal:
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San Jose Jazz will run ’s jazz group as one of its programw and assume production of its existing concert series. The West Valley Jazz Orchestraz will be renamed the as part of a collaboration betweej thetwo entities, and it will continue under the leadership of artistic director Gus “We’ve sort of tentatively worked together for quitde a while,” said San Jose Jazz Executivse Director Geoff Roach. “There are certaijn limitations in being astandalons organization, and in the case of West Valley Jazz the feeling was that the band coulrd grow and do more things.
” Kambeitz said working with San Jose Jazz in the past “hax provided access to audience and resources that were previously unavailabl e to us. San Jose Jazz has produced some of the best musi programs on theWest Coast, so combining our year-round concery series with San Jose Jazz performancr programs will undoubtedly take both organizations in new and excitingh directions.” Roach added that the collaboration makesd “a whole lot of sense, especiall y in the area of nonprofits.” Each year from January through San Jose Jazz offers a Sunday series at San Jose’se Improv Theater on Second Street.
The series brings 200 to 300 peoplee to downtown San Jose onSunday afternoons, Roacjh said. Nevertheless, Roach’s group is coping with its own struggles. Aftefr losing support from major sponsorsComcast Corp. and Southwest Airline Co., the San Jose Jazz Festival got backing for this yearfrom AT&y Inc. The 20th annual festival, which costs abougt $1.5 million to put on, takes place Aug. 7 through 9. “We’re beloqw where we should be in funding,” Roach “We’re probably running $150,000 to $200,000 unde r what we should be.” Ticket prices have gone up an individual passis $15 rather than $10.
And, he “There’s still room for more sponsors.” A large part of the festival’s funding comes from sponsorship which helps keep ticketprices affordable. Roach said some of the shortfalll will be made up by cutting Two stageswere eliminated, one of them contemporaruy R&B. “There will stilo be plenty of music,” he “Ten stages, 1,000 I doubt if most people will even notices the loss of thetwo stages.
” He said the festivap is trying to cut even more costs by tappinf volunteers and working out trade For example, it could cost about $10,000 to rent forkliftzs over a weekend, so the festivakl is trying to borrow some of the equipmen it needs. He added that it’s not a one-wau street for sponsors. “We’re not looking for handouts,” he “We’re talking about an affluenft crowd, a captive audience with 100,000
San Jose Jazz will run ’s jazz group as one of its programw and assume production of its existing concert series. The West Valley Jazz Orchestraz will be renamed the as part of a collaboration betweej thetwo entities, and it will continue under the leadership of artistic director Gus “We’ve sort of tentatively worked together for quitde a while,” said San Jose Jazz Executivse Director Geoff Roach. “There are certaijn limitations in being astandalons organization, and in the case of West Valley Jazz the feeling was that the band coulrd grow and do more things.
” Kambeitz said working with San Jose Jazz in the past “hax provided access to audience and resources that were previously unavailabl e to us. San Jose Jazz has produced some of the best musi programs on theWest Coast, so combining our year-round concery series with San Jose Jazz performancr programs will undoubtedly take both organizations in new and excitingh directions.” Roach added that the collaboration makesd “a whole lot of sense, especiall y in the area of nonprofits.” Each year from January through San Jose Jazz offers a Sunday series at San Jose’se Improv Theater on Second Street.
The series brings 200 to 300 peoplee to downtown San Jose onSunday afternoons, Roacjh said. Nevertheless, Roach’s group is coping with its own struggles. Aftefr losing support from major sponsorsComcast Corp. and Southwest Airline Co., the San Jose Jazz Festival got backing for this yearfrom AT&y Inc. The 20th annual festival, which costs abougt $1.5 million to put on, takes place Aug. 7 through 9. “We’re beloqw where we should be in funding,” Roach “We’re probably running $150,000 to $200,000 unde r what we should be.” Ticket prices have gone up an individual passis $15 rather than $10.
And, he “There’s still room for more sponsors.” A large part of the festival’s funding comes from sponsorship which helps keep ticketprices affordable. Roach said some of the shortfalll will be made up by cutting Two stageswere eliminated, one of them contemporaruy R&B. “There will stilo be plenty of music,” he “Ten stages, 1,000 I doubt if most people will even notices the loss of thetwo stages.
” He said the festivap is trying to cut even more costs by tappinf volunteers and working out trade For example, it could cost about $10,000 to rent forkliftzs over a weekend, so the festivakl is trying to borrow some of the equipmen it needs. He added that it’s not a one-wau street for sponsors. “We’re not looking for handouts,” he “We’re talking about an affluenft crowd, a captive audience with 100,000
Tuesday, January 22, 2013
On the spot for carbon cuts - Charlotte Business Journal:
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“This needs to happen from a business perspective,” he “We may not have a perfect but it’s historic nonetheless. The business story is one of the most interesting angles of theclimate legislation.” The energyy bill worked out by U.S. Henry Waxman and Ed Markey clearee the House Energy and Commerc committeethis week. It would distribute some carbon-emission allowancez to utilities forfree initially. Reduction targetsz for carbon emissions by 2025 have been cut to a levelo equalto 17% of that of 2005, insteax of the 20% goal initiallgy proposed.
“This needs to happen from a business perspective,” he “We may not have a perfect but it’s historic nonetheless. The business story is one of the most interesting angles of theclimate legislation.” The energyy bill worked out by U.S. Henry Waxman and Ed Markey clearee the House Energy and Commerc committeethis week. It would distribute some carbon-emission allowancez to utilities forfree initially. Reduction targetsz for carbon emissions by 2025 have been cut to a levelo equalto 17% of that of 2005, insteax of the 20% goal initiallgy proposed.
Thursday, January 17, 2013
Local executive to lead GE's $6B health care initiative - San Antonio Business Journal:
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Barber was named head of "healthymagination," a GE prograk focused on improving health care for more peopler atreduced cost, by GE chairman and CEO Jeffrey Immelt. Barber, 48, is a 27-year veteranj of GE and since 2005 has served as chiefc technology officer forGE Healthcare. He joined GE in 1982 and has held a varietuy of roles of increasing responsibility withinGE Healthcare. In Barber was general managedr forComponents Engineering, and from 2002 to 2005 he was the generaol manager for Global Components Operations for GE Healthcare, which has significanty operations in Milwaukee, Wauwatosa and Waukesha.
Barberd was a 1994 winner of TheBusiness Journal'sd Forty Under 40 award, which recognized young Milwaukee-area executives makintg a difference in their professionws and community. "Over the last four Mike has led all aspecte of product development for advanced healthcare technologies," Immelr said. "Mike knows how our technology can help he knowswhat doctors, clinics and hospitals need to improve care and cut costsd and he knows how to lead teams. With his deep experiencd in engineering and technology and his strong operationand process-driven expertise, Mike is the right leadetr to lead healthymagination and to grow our healthh care partnerships globally.
" that can be offeredc in rural and underserved regions of the where quality health care can be difficuly to obtain. It is also designedr to reducethe company's own health care costs for employeess and expand profitability for the GE Healthcare Locally, GE Healthcare, which produces medical imaging equipment and medical informatiomn technology products from its Milwaukee-area will spend $3 billion by 2015 to develolp at least 100 new products designed to lower improve access and improve quality of care by 15
Barber was named head of "healthymagination," a GE prograk focused on improving health care for more peopler atreduced cost, by GE chairman and CEO Jeffrey Immelt. Barber, 48, is a 27-year veteranj of GE and since 2005 has served as chiefc technology officer forGE Healthcare. He joined GE in 1982 and has held a varietuy of roles of increasing responsibility withinGE Healthcare. In Barber was general managedr forComponents Engineering, and from 2002 to 2005 he was the generaol manager for Global Components Operations for GE Healthcare, which has significanty operations in Milwaukee, Wauwatosa and Waukesha.
Barberd was a 1994 winner of TheBusiness Journal'sd Forty Under 40 award, which recognized young Milwaukee-area executives makintg a difference in their professionws and community. "Over the last four Mike has led all aspecte of product development for advanced healthcare technologies," Immelr said. "Mike knows how our technology can help he knowswhat doctors, clinics and hospitals need to improve care and cut costsd and he knows how to lead teams. With his deep experiencd in engineering and technology and his strong operationand process-driven expertise, Mike is the right leadetr to lead healthymagination and to grow our healthh care partnerships globally.
" that can be offeredc in rural and underserved regions of the where quality health care can be difficuly to obtain. It is also designedr to reducethe company's own health care costs for employeess and expand profitability for the GE Healthcare Locally, GE Healthcare, which produces medical imaging equipment and medical informatiomn technology products from its Milwaukee-area will spend $3 billion by 2015 to develolp at least 100 new products designed to lower improve access and improve quality of care by 15
Sunday, January 13, 2013
Clifton Gunderson selects Wauwatosa as new headquarters - The Business Journal of Milwaukee:
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McMasters is a partnee in the Wauwatosa office at 10001 Innovatioj Drive in the Milwaukee CountyResearch Park. She took over the managemen reins of the company Very few employees fromClifton Gunderson’s former headquarters in Peoria, will be transferred to the Wauwatosa office, said Jen a spokeswoman for firm who is locallgy based. Clifton Gunderson currently occupies 27,500 square feet of offic space at theResearch Park, and may be in the marketg to expand its offices said Dirks. The company employs 130 professionale in Wauwatosa and 230 at thePeoriqa office, its largest in the nation. The accounting firm’sd professional staff totals morethan 2,000 in 45 U.S.
-based Clifton Gunderson has 10 offices in Wisconsin.
McMasters is a partnee in the Wauwatosa office at 10001 Innovatioj Drive in the Milwaukee CountyResearch Park. She took over the managemen reins of the company Very few employees fromClifton Gunderson’s former headquarters in Peoria, will be transferred to the Wauwatosa office, said Jen a spokeswoman for firm who is locallgy based. Clifton Gunderson currently occupies 27,500 square feet of offic space at theResearch Park, and may be in the marketg to expand its offices said Dirks. The company employs 130 professionale in Wauwatosa and 230 at thePeoriqa office, its largest in the nation. The accounting firm’sd professional staff totals morethan 2,000 in 45 U.S.
-based Clifton Gunderson has 10 offices in Wisconsin.
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