Economic Development and Corporate
In 1990, Ireland’s total work force was 1.1 million.
This year it will hit two million, with no unemployment
and 200,000 foreign workers (including 50,000
Irelands economic development advice is very simple:
- Make high school and college education
- Make your corporate taxes low, simple and
- Actively seek out global
- Open your economy to competition;
- Speak English
- Keep your fiscal house in order;
- Build a consensus around the whole package
with labor and management.
Then hang in
there, because there will be bumps in the road – and
you too, can become one of the richest countries in
”It wasn’t a miracle, we didn’t find gold.
It was the right domestic policies and embracing
globalization.” – Irish Economic Development Official.
Source: Financial Times, 2006
Yes, you don’t need to point out the missing
states! I can count too! BS
Source: Federation of Tax Administrators, 2006
Innovation Lacking In New U.S. Commercial
The country that invented the iPod is struggling
to transfer that knack for high-tech innovation into
commercial building design. From Shanghai’s colossal
World Financial Center to the world’s largest
commercial development in Dubai, high-tech building
designers and developers are blazing trails on foreign
“Innovation is stuck in neutral in this country,”
says Jim Young, co-founder and producer of real
estate technology conference Realcomm. Young
kicked off the general session at Realcomm’s annual
conference earlier this week in Dallas. The
conference, titled “Making connections @ the
intersection of commercial real estate, corporate real
estate and technology,” drew more than 8,000 tech-
savvy and tech-curious commercial real estate
executives to the Dallas convention hall.
“In a wireless world, the U.S. is losing the battle
to create the most high-tech commercial space,”
said Young, who as Realcomm producer spent the
past few years surveying high-tech commercial
properties throughout the world. In fact, 52% of all
major U.S. office buildings don’t even support
property-specific Websites, according to a
preliminary survey by the Building Owners and
So where are developers building the most
innovative new commercial properties? Young says
that Middle Eastern hot-spot Dubai — where more
than 1,000 new buildings are under construction — is
one market leader, by quantity, if not by quality.
When Young took a Realcomm delegation to Dubai
last fall, one fellow tour members summed up the
massive development as follows: “It's like seeing
Orlando, Las Vegas, New York, San Jose and Miami
Beach all being built at the same time in the same
Some startling facts: The world’s largest mixed-
use tower is under construction in Dubai. When
completed, Burj Dubai will include 160 stories — and
the top floors will be reserved for apartments.
Developers also plan to build an underwater hotel in
Dubai, not to mention an 11 million sq. ft. mall.
Guests will be able to watch dolphins and others sea
life from their hotel room 80-feet below the water’s
surface. The mall, when completed in 2009, will be
the world’s largest enclosed retail space, twice as
large as the biggest U.S. mall. Many of these new
buildings will include 21st century building automation
systems, and a monorail system will connect many to
residential districts scattered across various islands
Most of the new office buildings under
construction in the U.S. today are using the same
outdated technologies that were invented as much
as 20 years ago, says Young. He finds it ironic that
most Americans spend the bulk of their lives inside
buildings — especially office buildings — yet their
workspace has reluctantly embraced many new
Who hasn’t been forced to either hug a
windowsill or leave a building entirely to get decent
cell phone reception? In Shanghai’s 101-story World
Financial Center, which is currently being built in
China, that won’t be a problem. The entire building,
not to mention the high-tech Pudong District
surrounding it, will be fully wireless. Cell signals will
be transmitted throughout the entire complex, even
as far as six stories below ground in the tower’s
many basements. Vertical access through the tower
will also be more efficient. As many as 16 of the
tower’s 31 elevators will be “super double-deck” cars
that can carry more passengers through the building
One small success: American innovation is playing
a role in Shanghai’s World Financial Center.
Connecticut-based United Technologies Corporation
designed these elevator cars through its wholly-
owned subsidiary Otis Elevator Co.
“Look around today, we were involved in the
earliest part of most major innovations, from the auto
to the airplane,” says Young. “The big question now
is: Can we get it back? Can we shed our
bureaucratic tendencies and strive for true
Source: NREI Newsline
Federation of Tax Administrators
- Treasury Report
- The unified surplus for June was $20.5 billion,
slightly above the CBO’s preliminary estimate of a $19
billion surplus. Through the first nine months of fiscal
year 2006, the U.S. has run a unified deficit of $206
billion, 17% smaller than at the same point last
- Chain Store Sales
- Chain store sales rose a slight 0.2% in the
week ending July 8, according to the ICSC. Year-
over-year growth ticked up to 3.0%. Traffic was
reportedly strong, at least on July 3, which many
people had off.
- MBA Mortgage Applications Survey
- Mortgage demand increased last week, with
the market index rising 1.0% in the week ending July
7. Purchase applications increased 2.6%, while
refinance applications decreased 1.6%.
- Oil and Gas Inventories
- Crude oil inventories plummeted by six million
barrels for the week ending July 7, according to the
Energy Information Administration, far above
expectations of a 1.2 million barrel draw. Gasoline
inventories fell by 0.4 million barrels, against
expectations of a draw of 0.1 million barrels. Refinery
utilization fell sharply to 90% for the week. This
report should have a bullish impact on prices.
- International Trade (FT900)
- The nominal U.S. trade deficit in goods and
services widened in May. In May, the U.S. trade
deficit came in at $63.8 billion, $0.5 billion more than
April’s revised $63.3 billion, according to the Bureau
of Economic Analysis. The goods deficit with China
also widened again to $17.7 billion in May, while
soaring crude oil prices increased the nation’s import
bill for crude oil/petroleum products. If the trade
deficit, measured on a real basis, does widen then it
could be a drag on growth.
- Manufacturers Alliance/MAPI Survey
- The Manufacturers Alliance/MAPI composite
index fell to 71 in June from March's reading of 74.
The survey points to continued, but slower,
expansion of manufacturing activity in the coming
- Retail Sales (MARTS)
- Total retail sales unexpectedly fell 0.1%
June, reversing May’s unrevised 0.1% gain. Auto
sales led the decline despite the small increase in
unit sales. Non-auto sales were up 0.3%,
approximately in line with expectations. Gas station
sales continued to lead growth due to increasing
gasoline prices. Year-over-year growth slowed to
5.9% in total and 8.5% excluding autos.
- Business Inventories (MTIS)
- Total business inventories increased a higher-
than-expected 0.8% for May. Inventories at retailers
increased 1.6%, a significant jump from April's -0.1%
reading. Total business sales increased by 1.4%. The
total I/S ratio fell slightly to 1.25.
|This Weeks Leads
- Andrews Jewelers and Rogers Jewelers
- Rogers LTD, Inc. trades as Andrews Jewelers
and Rogers Jewelers.
- The 54-unit chain operates
locations throughout AR, FL, IA, IN, KY, MO, NE, OH,
SD and TX. The jewelry stores occupy spaces of
1,500 sq.ft. to 2,000 sq.ft. in malls.
opportunities are sought throughout the existing
markets during the coming 18 months.
details, contact Len Schneider , Rogers LTD, Inc.,
521 Shoreview Drive, Rockwall, TX 75087; 972-772-
2847, Fax 972-772-2897; Email:
- Pizzaria Paradiso
- Pizzaria Paradiso operates two locations
throughout Washington, DC.
- The pizzerias
occupy spaces of 3,500 sq.ft. to 4,500 sq.ft. in
- Growth opportunities
are sought throughout the existing market during the
coming 18 months, with representation by
Transwestern Commercial Services.
- For more
information, contact Alex Walker or Bill Miller,
Transwestern Commercial Services, 1667 K Street
Northwest, Suite 300, Washington, DC 20006; 202-
775-7087/7033, Fax 202-775-7009; Email:
- Tahari Outlet
- Tahari Outlet, a 13-unit chain operates locations
throughout the eastern coast and NV.
women’s discount apparel stores occupy spaces of
2,500 sq.ft. to 3,500 sq.ft. in outlet centers.
Growth opportunities are sought nationwide during
the coming 18 months.
- For details, contact
David Hirsch, Tahari Outlet, 501 Broad Avenue,
Ridgefield, NJ 07657.
- Marcus Theaters
- Marcus Corp. trades as Marcus Theaters. The 45-
unit chain operates locations throughout IL, MN, OH
- The movie theaters occupy spaces of
32,000 sq.ft. to 70,000 sq.ft. in freestanding
locations and malls.
- Growth opportunities are
sought throughout the existing markets during the
coming 18 months. A land area of 12 to 18 acres is
- For details, contact Katie Falvey, 100
East Wisconsin Avenue, Suite 1900, Milwaukee, WI
- Strings Italian Café
- Strings Franchise, Inc. trades as Strings Italian
Café at 30 locations throughout CA and NV.
- The restaurants use 500 sq.ft. to 2,800 sq.ft. in
freestanding locations, malls, downtown areas and
- Growth opportunities are sought throughout
northern CA during the coming 18 months.
more information, contact: Al DeCaprio, Strings
Franchise, Inc. 11344 Coloma Road, Suite 545 Gold
River, CA 95670
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