 |
 |
 |  | |  |
|
 |
|
 |
|
 |
 |
||
 |
HOME > Marketplace Reflections > issue 113
"The eye only sees what the mind is prepared to comprehend.
" Marketplace Reflections: Issue 113We hope you enjoy this issue of Marketplace Reflections. Dudley & Associates has been engaged in Executive Search and Recruiting since 1983. Our web site is www.dudleyandassoc.com. The phone number is (972) 265-7915. ANNOUNCEMENTSOPPORTUNITIES311 S National Partner, Build-To-Suit(Denver, CO)Our client has an outstanding record of providing quality BTS development services to corporate clients nationwide. Product types include industrial, office and medical. Your role as an equity partner is to provide team leadership and business development to fan and increase an already blazing fire of opportunity for the company and yourself. Bring your expertise and passion, and set them free in a dynamic private firm. If your successful record of accomplishments includes serving the Fortune 1000 in this manner, you might want to strongly consider this unique opening. Your confidentiality is secure. Contact Sayres Dudley at asdudley@dudleyandassoc.com312 S National Retail Development Partner(Open Location)This dynamic, respected and well capitalized private developer, with offices nationwide, has opened a new equity partner position. Your role will be very diversified. Call on national retailers to negotiate development agreements. Assist and lead existing development teams on major retail and mixed use projects. Work with executive team to open new retail development offices nationally, and help strengthen current offices. Double production and profits in the next few years. This partner role can operate from any present office within the company. It is like running your own business, with someone else’s capital. Interested? Excellent. Contact Sayres Dudley at asdudley@dudleyandassoc.com313 S Senior Project Manager (Development Manager)(San Diego, CA)As a retained search firm, we pursue companies whom the marketplace indicates are outstanding places to work, and attempt to convert them into clients. We accomplished our goal on this new assignment and couldn’t be more thrilled. Do you love a creative environment, where team work, collaboration, fresh ideas and hard work are honored? Love involvement on architecturally significant retail and mixed use projects? Enjoy doing it all with the team: budgets, pro-formas, entitlements, design coordination, schedules, municipal relationships, etc? Then you should take a look. Projects are scattered, but office is in San Diego. Client will relocate the selected candidate if necessary. Contact Sayres Dudley at asdudley@dudleyandassoc.comMEETINGSTREC Today - A Focus on Public AffairsJune 18, 2008 Three Lincoln Center, Dallas, TX For more information please visit http://www.recouncil.com/txdalcnl/events2.nsf/Events/Featured/4A7DDAE40DE2AC7187256E2B00701E32?Open&LayoutID= ArticleThis article is shared with the kind permission of David Rosenthal, with Curtis-Rosenthal, Inc. We thought this article would be of particular interest to readers of Marketplace Reflections, as it highlights an interview David conducted with Scott Anderson of Wells Fargo.For more information on the services of Curtis-Rosenthal, Inc., please visit www.curtisrosenthal. Friends and Colleagues This week Scott Anderson, Senior Economist of Wells Fargo Economics talks with us about the current state of the economy....Recession?.....Stagflation?.....Rising Interest Rates? Read on to hear his thoughts and projections. What was that about a Recession?!? • 1st quarter GDP growth was revised to 0.9% from the 0.6% previously reported. • This is noticeably above the 4th quarter pace of 0.6% GDP growth. • According to Mr. Anderson, this reduces the probability of a 1930’s-style depression to virtually nil. • He projects that the more likely path for the economy is a Stagflationary environment similar to the 1970’s. Now just a minute...What happened to all those ominous fundamentals? • Yes, the U.S. labor market, and consumer & business spending weakened further in the 1st quarter. • Sure, the bank credit crunch intensified. • OK, so oil prices marched to new record highs. • Oh, and U.S. home prices plunged the most since the Great Depression. And what about inflation? • The Bureau of Labor Statistics’ current reading on CPI inflation is 3.9% over the past year....not too bad right? • However, consumer expectations for inflation over the next 12 months hit 7.7% in May!! • This is the highest reading ever recorded for this measure! So with all this sobering news, what happened to our Recession? • It turns out that Q1 GDP growth was heavily supported by that prior drag on our economy...the U.S. trade deficit! • Apparently, the U.S. dollar’s 37% depreciation since 2002, combined with rapid growth in emerging market economies, is having a noticeable impact on our export performance. • The timing is good, as slowing consumer demand is taming our taste for foreign imports (other than gasoline). • The improving trade deficit added 0.8% to GDP growth in Q1, accounting for nearly all the growth in the U.S. economy. Well, Mr. Anderson, where do we go from here? • Anderson tells us that we are not totally out of the woods yet. • Many of the negative economic trends that intensified in the 1st quarter will impact GDP growth with a lag. • However, these economic headwinds should be nearly matched by the fiscal stimulus package over the next couple of quarters. • Anderson calls it a stalemate between economic stimulus and plunging home values and rising energy costs. • He says that Wells Fargo Economics is no longer forecasting any negative quarter of GDP growth for 2008 or 2009 (i.e.- No Recession!). • They have however been marking down their growth estimates for next year, given the lingering credit crunch, home price declines and fading fiscal stimulus. With all of these offsetting factors, where are interest rates headed? • Anderson contends that the Fed’s aggressive rate cuts, liquidity injections, and Bear Stearns rescue have effectively truncated the downside risks to the economy. • He says that the market’s attention is now fully focused on the inflation problem, and the Fed will soon shift its focus as well. • Anderson projects that the next rate move from the Fed "will almost certainly be a rate hike". • The Fed funds futures market has been aggressively pricing in Fed rate hikes starting as soon as the Q4 2008. • Anderson says the futures market predicts the Fed will hike rates by 1/4% at least three times by mid-2009. Have a great week! Sayres & Kathy Dudley Dudley & Associates 80 S. Lake Ave. #702 Pasadena, CA 91101 Phone (626) 564-0800 Fax (626) 564-0802 www.dudleyandassoc.com Copyright © Dudley & Associates 2008 All Rights Reserved
|
 |
