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|Articles - January 2013|
|Monday, December 10, 2012|
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Strong relationships with banks have been another stabilizing force. “The banks know I’m there,” says Schnitzer, who refinances about $500 million worth of property annually. “We’re very honest, transparent and open.”
About that blocking and tackling: When the housing collapse hit, regional managers were empowered to give “more specials, free rent, more tenant-improvement dollars — anything to get the space full,” Schnitzer says. In 2011 he sold a signature property, the Alameda Towne Centre in the Bay Area, for $181 million. Harsch had purchased the shopping center in 1979 for $13 million, then invested another $75 million in upgrades in 2002. The sale helped Harsch maintain cash flow and pay off short-term debt, says Schnitzer, who also has written down tens of millions of dollars in internal asset values.
The past few years have been tough personally as well as professionally, says Schnitzer, who divorced a few years ago and recently lost his father. Along with the economic downturn, these family trials may help explain why such a powerful and admired member of Oregon’s business community seems a bit equivocal about the future. On the one hand, occupancy rates are up in a couple of cities, and this past October, Harsch made its first postrecession acquisition: an 18,000-square-foot warehouse in Sacramento purchased for $875,000. “We’re doing our best to lead the market up,” says Schnitzer, who recently instituted a program to raise rents by a penny per square foot, an increase that would generate an additional $200,000.
On the other hand, despite the positive indicators, Schnitzer says one big issue still haunts him: the idea that “this was not just another recession” and that the real-estate market may not return to “normal.” In the civic arena, meeting a fundraising goal is cause for celebration, says Schnitzer, who has served on more than 30 boards and, this year, received the 2012 Simon Benson Award for philanthropy. But the business world — you guessed it — requires a little more humility.
“The best deal you’ve done,” Schnitzer says, “is always the next one.”
Thursday, October 01, 2015
PHOTOS BY JASON E. KAPLAN
Images from the big 2015 celebration of worker-friendly organizations that make a difference.
Thursday, September 10, 2015
BY KIM MOORE
Oregon is set to become a hub of a new type of wooden building design as a southern Oregon timber company becomes the first certified manufacturer of a high-tech wood product, known as cross-laminated timber, or CLT.
Tuesday, September 15, 2015
BY LINDA BAKER
The 2016 presidential election is shaping up to be the year of the outsider, with Bernie Sanders and Donald Trump capturing leads in the polls and the headlines. In Portland, Wheeler vs. Hales is bucking the outlier trend.
Monday, September 28, 2015
BY CHRIS NOBLE
This year has been so dry we were caught napping when it finally started to sprinkle. Hopefully you didn’t get caught in a downpour while eagerly awaiting — don’t deny it — our curation of Oregon-grown wet weather wear.
Tuesday, September 08, 2015
BY LINDA BAKER
Alan Lehto, TriMet's director of policy & planning, shares a few thoughts on ride sharing and more nimble bus services.
Wednesday, August 26, 2015
BY KIM MOORE AND LINDA BAKER
Child care in Oregon is expensive and hard to find. We delved into the numbers and talked to a few executives and managers about day care costs, accessibility and work-life balance.
Wednesday, August 19, 2015
BY GARY THILL | PHOTOS BY JASON E. KAPLAN
A storied institution climbs down from the ivory tower.
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|Amazon to emulate parts of Uber's model|
|Another former Daimler alleges discrimination|
|Struggling Whole Foods announces layoffs|
Wage gaps and workforce shortages are threatening the quality of care and supports to Oregonians with intellectual and developmental disabilities. Who’s caring for those who care for our most vulnerable residents?
Engaging employees and customers along the way.
After first visiting as tourists, entrepreneurs relocate to Oregon and spur economic growth.
Are you planning a meeting, party, gala, fundraiser, holiday party, golf tournament, retirement party, team building or birthday? You won’t want to miss this show to get hundreds of great ideas!
Promoting from within its own ranks, PacificSource Health Plans has tapped Tony Kopki to head its commercial lines of business in Oregon, Idaho and Montana. In his new role as Vice President of Commercial Programs, Kopki will provide strategic, product and market leadership for PacificSource’s commercial programs.
Thomson brings 25 years of healthcare experience in provider relations, sales, marketing and communications.