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Daniel Lintz, President & Chief Executive Officer

Daniel LintzPresident & Chief Executive OfficerSafe Harbour Japan K.K. What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Aiful Debt Moratorium Spells Trouble for Takefuji, Promise

September 18, 2009

Aiful To Ask For Debt Moratorium; Shares Drop 27% | www.nni.nikkei.co.jp

Shares of ailing consumer finance company Aiful Corp. (8515) fell 27% Friday following announcement of plans to seek a delay in repayment of nearly $3 billion in loans. Unsympathetic comments by Japan's Minister for Postal and Financial Services Hon. Shizuka Kamei served further rattle the market, sending many foreign investors running for the door. Market fear is likely to drive down share prices and drive up the cost of capital for major consumer lenders Takefuji and Promise .

Daniel Lintz, President & Chief Executive Officer

Daniel LintzPresident & Chief Executive OfficerSafe Harbour Japan K.K. What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

New Japan Financial Services Minister shows little sympathy for lenders

September 18, 2009

Aiful Preparing To Apply For Debt Relief Procedures | www.nni.nikkei.co.jp

With credit default swaps (CDS) for Aiful and Takefuji trading at historic highs, Japan's newly appointed Financial Services Minister shows little sympathy for lenders in proposing a 3-year moratorium on repayment of small business loans.

Robert Canter, President-Founder

Robert CanterPresident-FounderPerformance Realty Solutions, LLC What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Commercial real estate will not benefit from the end of the current recession.

September 8, 2009

New frugality is the new normal, by necessity | www.wtop.com

News headlines of the past few weeks have the spin doctors trying their best to make us believe the worst is over for this current recession…however if you read between the lines you should not get too excited as any recovery is many years away. We all need to get used to the “new normal” as the subject article suggests. To do otherwise could be financially fatal.

Robert Canter, President-Founder

Robert CanterPresident-FounderPerformance Realty Solutions, LLC What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

How the bad times keep on rolling in commercial real estate

August 11, 2009

Maguire results show bad times for commercial real estate | latimesblogs.latimes.com

The key element which this brief article highlights is the fact with re-financing near impossible and building rental prices going south very rapidly, which in turn puts increased downward pressure on total asset values, how can anyone say the bottom is near for commercial real estate.

Harnath SithamrajuConsultantHarnath Sithamraju What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Investment in Indian Equity should be selective

July 26, 2009

India Inc tapping foreign funds for equity binge | uk.reuters.com

1. Indian economy is in a growth phase.Notwithstanding global meltdown.Need for infrastructure development has seen a flurry of activity in that sector.Growth of a company is dependent on its proximity to the political class except perhaps for a Tata. 2. Choose companies that meet International Accounting standards.

Gavin Campbell, Managing Principal

Gavin CampbellManaging PrincipalSteelbridge Capital LLC What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Foreclosures Set to Add More Years of Supply to Downtown Miami Condo Market

July 22, 2009

Downtown Miami condos pass 60% occupancy | www.frej.net

The article describes a recent study that takes comfort in the fact that "62% of units in new downtown Miami condo buildings are occupied..., defying the perception that the majority of high rises built in recent years are empty." But this ignores the fact that there is still a 10 year supply of unsold inventory at today's absorption rates and pricing , and ignores the fact that foreclosures of previously sold units increased 500% last year in Miami Dade, which will only add to the glut.

Gavin Campbell, Managing Principal

Gavin CampbellManaging PrincipalSteelbridge Capital LLC What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Banks and Special Servicers Continue to Postpone the Inevitable

July 22, 2009

Pru Sees Debt as Best Investment Bet | www.globest.com

The article notes that distressed debt provides the best near term opportunities for r investors. And, in a perfect world, it should be; banks and conduits learned in the last downturn that they were not good at owning foreclosed properties, so their instincts this time are to just sell the paper. But, to do this they must mark it to market, and that, ironically, prevents many of them from selling it. But, they will face reality sooner rather than later, and the market will be better for it.

Robert Canter, President-Founder

Robert CanterPresident-FounderPerformance Realty Solutions, LLC What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

REIT stock prices are on the rise…but what is really behind this latest scenario?

July 13, 2009

CRE Markets Yet to Hit Bottom, Analyst Tells Congressional Panel | reit.com

The most alarming element of this circumstance is once again naïve investors are being duped into believing the few REITS which are re-capitalizing through the equity markets will be standard bearers of a new REIT revival.  

Justin HupetConsultantJustin Hupet What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Genworth MI Canada: Successful IPO, But Mixed Market Reaction

July 9, 2009

What to take from Genworth's IPO | www.theglobeandmail.com

Genworth Financial (NYSE:GNW) completed an IPO of their Canadian operations in a bid to raise capital to pay down debt at the parent company.  The mortgage insurer’s Canadian offering raised at least C$850 million (44.7mm shares priced at C$19 per share and the underwriters have the option to sell an additional C$127mm (6.7mm shares) up until August 6th).  If the option is exercised in full, Genworth Financial would have a 56% ownership interest in Genworth MI Canada (TSX:MIC).  This is the largest IPO in the Canadian marketplace since 2007, when gold miner Franco-Nevada raised C$1.3bn, and is only one of a handful of IPO’s completed in Canada YTD.

David PottsFormer Finance DirectorLLOYDS T S B ASSET FINANCE DIVISION LTD What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Rate of UK job cuts in financial services forecast to decline in Q3

July 1, 2009

U.K. Financial Firms Plan 13,000 Job Cuts Even as Optimism Grows, CBI Says | www.bloomberg.com

The Confederation of British Industry talks about further job cuts in financial services in the next quarter but should this be surprising? The forecast represents a fall in the rate of compared with Q1 and Q2 2009 and this at a time when a major banking merger in the UK is in progress.

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