David B. Henry
David B. Henry, 58, vice chairman and chief investment officer of Kimco Realty Corp., is sculpting a new vision for the nation’s largest publicly traded owner and operator of neighborhood and community shopping centers, transforming it from a developer of real estate to a financial firm. He is joined in the effort by Kimco’s 77-year-old chairman and CEO, Milton Cooper.
When Cooper brought in Henry in 2005, the move raised a few eyebrows. Though he was well-equipped with real estate experience, Henry was a financial wizard first—having served as senior VP and chief investment officer of GE Capital Real Estate and chairman of GE Capital Investment Advisors. He had no direct management experience.
No matter. Henry brought in a new perspective and, with that new perspective, new business initiatives that included entry into Mexico and a participating lending program called Preferred Equity that provides equity/mezzanine debt to developers and owners of retail centers. With Henry on board, Kimco has taken to thinking outside the real estate box—and the company is reaping the rewards from it.
Borders to offer free resolution workshops
ANN ARBOR, Mich. Borders said Thursday that it is offering customers free in store events throughout the month of January to help them kick start their new year’s resolutions and learn how to keep them through the year. Programs include wellness fairs, yoga classes and diet seminars.
Borders reported that local organizations and community groups will be featured in activities and events at its stores across the country ranging from fitness centers and hospitals to singles groups and retirement centers.
Schulze sells 440K shares of company stock
MINNEAPOLIS Best Buy chairman and founder Richard Schulze sold 440,000 shares of Best Buy stock last week valued at $22.4 million. Schulze sold the stock at prices ranging from $50.71 to $51.18 per share. Earlier this month, Schulze sold 2.35 million shares valued at more than $120 million.
While Schulze’s stock sales are considerable, they represent just a fraction of his holdings at Best Buy. He’s estimated to still hold more than 68 million shares of stock amassed during 41 years with the company.