June 2010


From ICSC.org:

On June 24th, the U.S. Senate held another procedural vote on H.R. 4213, which includes the carried interest tax increase. The purpose of this vote was to end debate on the bill, and it required a three-fifths majority or 60 votes in the Senate. This vote failed with the final tally at 57-41. For the most part the vote fell along party lines, except for Senator Ben Nelson (D-NE) who joined Republicans to vote no. Senators Robert Byrd (D-WV) and Lisa Murkowski (R-AK) did not vote. After this third failed attempt to move the bill forward, Senate Majority Leader Harry Reid (D-NV) has said that the Senate will move on to other business. It is unclear if or when the Senate will resume consideration of H.R.4213.  Senate Leadership was unable to get the votes necessary because of outstanding concerns relating to several provisions in the bill including the carried interest tax increase. The outreach made by ICSC members was hugely important in educating Senators on the unintended consequences of this provision and the negative impact it would have on jobs.  ICSC members sent more than 8,600 emails and letters up to Capitol Hill and made numerous phone calls to their U.S. Representatives and Senators. This tremendous effort will give us more time to strengthen our case against this detrimental tax increase. ICSC will continue to work closely with the tax writing committees in both the House and Senate to educate them on the technical problems that exist in the carried interest tax provision.

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Tampa Bay Real Estate Broker, Eric Odum, interviews Scott Jacobsen, Commercial Banking Manager for NorthStar Bank in Tampa, Florida. They discuss options for business owners to locate capital to continue to grow their businesses in a challenging environment. While finding debt to buy commercial real estate can be tough in today’s market, there are a number of programs available to help. In this video, we discuss the 504 SBA lending program for owner-occupied commercial real estate loans. For more info see http://www.floridatriplenet.com/blog

I have been asked to moderate a panel at the upcoming Crittenden Commercial Real Estate Finance Conference in Atlanta, GA. The topic:

Reinvention: Adaptation = Survival

We will be discussing the fact that commercial real estate transaction volume is down 85-99% and in order to survive in this new economy we need to be able to think “outside the box” and adapt to the new realities of the marketplace. We will be discussing areas of growth for the next 36 months, ideas on retooling your skill set and how “survival” is the new “good”.

The conference will be held at the JW Marriott in Buckhead October 24-26. Attendees include commercial real estate investors, developers, financiers, consultants, brokers, attorneys and vendors to the industry. Past conferences I have attended ranged from 200-300 people.

If you are selected to the panel you will be able to attend the conference for free and bring a guest (each seat is sold for $695).

Please send an e-mail to dave@bisonfinancial.com with your inspiring story of adaptation and survival.