Boy, there's enough bad news this week that I am catching up on to make you want to crawl in a hole. But I won't. It is a spectacular day and as soon as I can get done with work and before trick-or-treating begins, I am going out for a nice walk or maybe even nine holes.
Michael Mandel, citing a Morningstar report, tells us there's a 20% chance that CB Richard Ellis could go bankrupt. For dirt folks, that's would be as impossible as, say, Lehman going under. Oops....
I did not go to ULI, but David Bodamer did, and the mood there was pessimistic. Doug Cornelius has a link to the trends report here. On a side note, I got an email from ICSC yesterday telling me that hotels are cutting rates for next year's convention in Las Vegas. You know what that means -- fewer attendees.
No wonder the store closing signs are out at Value City -- they filed a BK the other day and plan to liquidate. Don't laugh, but maybe I should go check out the furniture outlets they have for a piece or two.
At the risk of being political, do you think if Tony Rezko was associated with John McCain the media would not be talking about it? (Yes, there was yet another indictment in Illinois yesterday.) And regardless of you you vote for, you have to almost laugh at the media bias this cycle, in particular the negative McCain stories. The independent report from Pew seems to say that Fox News really might be somewhat fair and balanced (I'm shocked at this, actually). MSNBC? Not so much.
Here's a Bloomberg story on Trump Tower Chicago and the Spire. Donald's working hard to extend his loans.
Speaking of loans, good move, imo, by Golub in refinancing the office portion of Block 37 a year early. Why take chances?
Enough. Enjoy your weekend!
