October 30, 2013 |
When he heard about a shake-up at company headquarters, Mark Sprague got a knot in the pit of his stomach. It wasn't his executive job that was at stake at the international real estate brokerage CBRE Group Inc. It was his spacious office of 11 years, his cherished file cabinets and his trophies. They all had to go. Sprague and everyone else in the company's 200-person office were given no choice by management. Everyone was to be part of an experiment to create the company's first completely "untethered" office in the United States where employees roam freely.
October 29, 2013 |
CBRE Group Inc., the world's largest commercial real estate brokerage, turned a $94-million profit in the third quarter of this year led by growth in lease activity in the United States and the overall real estate recovery in Europe. The Los Angeles firm said Tuesday that income from arranging transactions to buy or rent space in offices, warehouses and other commercial properties helped revenue increase 11% from the third quarter last year to $1.73 billion. Revenue from brokering property sales was up 29% over the same period.
July 3, 2013 |
NEW YORK -- Thomas Joyce, the longtime head of Knight Capital Group, has resigned almost a year after the major Wall Street brokerage suffered a near-fatal trading glitch. Joyce, who became president and chief executive of what was then Knight Trading Group in 2002, stepped down as executive chairman effectively immediately, KCG Holdings Inc. said in a statement Wednesday. KCG Holdings was formed by the merger of Knight Capital in Jersey City, N.J., and GETCO Holding Co. of Chicago.
June 26, 2013 |
This post has been corrected. See bottom for details. The data-mining industry, which tracks down all kinds of personal information about consumers, faced a renewed demand Wednesday from a Federal Trade Commission member determined to get the vast databases opened to consumers. Data brokerages gather information, including shopping histories, arrest records and credit reports. The information is then sold to other companies, such as marketers and manufacturers. Last year, FTC Commissioner Julie Brill suggested that the companies create a website where consumers could go to see the information that's been collected about them.
May 2, 2013
Los Angeles stock brokerage Crowell, Weedon & Co. on Wednesday said it was acquired by a larger rival, though terms were not released. Chief Executive Andrew Crowell said his firm was bought by D.A. Davidson & Co. The deal would further strengthen the firms, Crowell said. Combined, they will hold $43.5 billion in client assets, with Crowell Weedon bringing in $9 billion of that. Discussions of a combination began about three years ago, Crowell said, but really took off in the last year and a half.
March 26, 2013 |
NEW YORK - The legal fallout from Facebook Inc.'s botched initial public offering last year isn't over, although regulators approved the $62-million plan by Nasdaq OMX Group Inc. to repay brokerages that lost money in the debacle. The U.S. Securities and Exchange Commission's approval Monday does not stop the government or other parties from taking further legal action against Nasdaq for losses suffered in the Facebook IPO fiasco in May. Swiss banking giant UBS, for one, tallied its losses at $357 million and wants more money back than the settlement could offer.