Partnership to advise shopping center owners
Newport Beach, Calif. A pair of landlord-tenant real estate advisors announced they have joined forces and launched a new partnership. Linda Crowley and Carie Boyce formed Crowley & Boyce Retail Property Advisors to enhance retail property value, provide market, demographic and tenant operations analyses, as well as offer repositioning and tenant-retention strategies.
“Both shopping center stabilization and rent repositioning require full focus and immersion into the process, which we can provide, thus freeing up time for our clients to continue to manage their businesses in this very competitive climate,” said Crowley.
Prior to forming Crowley & Boyce, Crowley was president of Urban Street Advisors. Boyce is a former retailer, having held positions with Wherehouse Entertainment, Bristol Farms and Gelson’s Market, as well as served the site selection and lease-negotiation needs for numerous retailers, including A/X Armani Exchange, The Cheesecake Factory, Kenneth Cole, Marshalls (TJX Cos.) and Office Depot.
U.S. job losses slow in April, but unemployment rises
Washington, D.C. The pace of layoffs slowed in April as U.S. employers cut 539,000 jobs, the fewest in six months. But the unemployment rate climbed to 8.9%, the highest since late 1983, as many businesses remain wary of hiring given all the economic uncertainties.
The Labor Department tally released Friday wasn’t nearly as deep as the 620,000 job cuts that economists were expecting, and was helped by a burst of government hiring. However, the rise in the unemployment rate from 8.5% in March matched economists’ forecasts.
While the government department highlighted the toll the recession — the longest since World War II — has taken on America’s workers and companies, the slowdown in layoffs may be a glimmer of hope for the near future.
Companies across the board have turned to layoffs and other cost-cutting measures, including capping workers’ hours and freezing or cutting pay to survive the recession. Since the recession began in December 2007, there has been a net total of 5.7 million lost jobs, the article said.
EEOC files suit against Wal-Mart over Sam’s Club
Fresno, Calif. The U.S. Equal Employment Opportunity Commission claims some Hispanic employees at a Fresno, Calif., Sam’s Club were subjected to a hostile work environment.
The suit filed Thursday in U.S. District Court against parent company Wal-Mart Stores alleges that managers failed to stop repeated verbal harassment, including the use of derogatory words, against employees of Mexican origin.
EEOC officials say they filed the suit after attempting a voluntary settlement. They are seeking compensatory and punitive damages and creation of a formal complaint procedure.
Wal-Mart spokeswoman Michelle Bradford said the company works to ensure employees are treated fairly.