HR still suffering effects of economic downturn

first_imgDemand for HR professionals remains sluggish as the economic slowdowncontinues, according to research. The 2002-2003 Market Survey report also reveals that a lack of confidence inthe economy and the need by some employers to cut costs and restructure tocompete have continued to depress the HR job market. Telecommunications, management consulting, investment banking andmanufacturing are the areas worst affected by the current climate . Michael Pickup, associate director for recruitment consultancy BeamentLeslie Thomas, which carried out the benchmark research, said: “In 2002, atypical job search is more likely to involve increased competition, longer leadtimes, jobs being put on hold and offers being rescinded.” However, the jobs position in the public sector is still fairly healthy, andproviding competitive salaries thanks to the Government’s ongoing modernisationprogramme. The study reveals that 55 per cent of respondents report that theirorganisations had adopted flexible working policies. The number of respondents receiving flexible benefits has increased by morethan 100 per cent during the past year and they now account for 10 per cent ofthe sample. www.blt.co.uk Previous Article Next Article Comments are closed. HR still suffering effects of economic downturnOn 3 Dec 2002 in Personnel Today Related posts:No related photos.last_img read more

Malibu 92065: Pandemic propels LA’s hottest housing market

first_img Share via Shortlink Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Tags Celebrity Real EstateCoronavirus Real EstateLA luxury real estateMalibucenter_img Compass’ Chris Cortazzo, among the top-selling luxury brokers in L.A., said Malibu’s reputation for its laid-back lifestyle has helped attract younger, techier powerbrokers. “The internet crowd has a lot of hip surfers,” said Cortazzo, who represented seller Diana Jenkins in WhatsApp co-founder Koum’s $87 million home buy. “They want a different lifestyle. They want to raise a family outside a city, but be near one of the best metropolitan cities in the world.”Cortazzo also sold two of his own luxury investment properties in Malibu late last summer for nearly $50 million total.But after the Woolsey Fire in late 2018, Malibu home sales dropped and remained low a year later, said Miller Samuel’s Jonathan Miller, who authors the Elliman report. Median single-family home prices were down 17 percent from October through December 2019 compared to the same period the year before.The fire burned 97,000 acres and was the largest of 30 blazes that have scarred Malibu in nine decades, according to the Los Angeles Times.Cortazzo, who said he lost a home in the Woolsey Fire, insisted the real estate is worth its high price tag.“There’s dangers everywhere,” he said. “You can be in Texas and freeze to death. Or you can be in Oklahoma and get wiped out by a tornado. The reward far exceeds the risk.” (Getty, iStock/Illustration by Alexis Manrodt for The Real Deal)When Jack Pritchett scored the listing for a 2,300-square-foot home in Malibu, he thought he had a decent property on his hands. A mile north of the Pacific Coast Highway, the four-bedroom sits on 2 acres, with views of the ocean, mountains and canyons. Priced at $1.9 million, the Las Flores Canyon Road home would probably draw a handful of offers, the co-owner of Pritchett-Rapf Realtors thought.But what happened next surprised him, and Pritchett had the home under contract in less than two weeks. “The amazing aspect was the number of showings: over 20 in six days,” he said.That quick deal underscores a Malibu market that has been in overdrive since May, when restrictions on home showings were lifted and buyers started jonesing for properties. The pandemic has also pushed aside the memories of 2018, when the Woolsey Fire tore through the community. That blaze upended lives and destroyed more than 450 homes in Malibu, leaving in its path property losses of $1.6 billion.ADVERTISEMENTMore than two years later, and a year into the Covid crisis, the seaside enclave has become L.A.’s premier destination for luxury buyers.Coldwell Banker’s Kathy Ellis said Malibu’s 92065 ZIP code is as supercharged as she has seen it in her 20 years in the business.“In 2007, the market was like this,” Ellis said. “But at that time, anyone who could sign their name and had a pulse could get a loan. Right now the lenders aren’t lending to people who are unqualified, but it’s as busy as 2007, and I love it.”Boldface names connected to Malibu properties have also become commonplace. WhatsApp co-founder Jan Koum spent $87 million in February on a 3-acre Pacific Coast Highway property. And over the last few months, Tyra Banks, Matthew Perry, Flea, Gal Gadot, the Hemsworth brothers, Avril Lavigne and others have either bought or sold homes there.But the regular rich are the ones driving the spike in home sales, showering plenty of attention on what pass for downmarket listings. And it’s not just single-family homes.Take the $1.38 million listing Ellis had on a two-bedroom, 1,300-square-foot condominium on Coral Reef Lane. When the contract fell through in January, it took the broker one day to secure two new offers.Cruising into 2021Median single-family home sale prices in Malibu and Malibu Beach jumped 71 percent from October through December compared to the year before, according to a Douglas Elliman report. The average price per square foot was up 22 percent, and the number of closings rose 31 percent. Closings for single-family homes and condos rose for four straight months, from a low of 11 in April to a high of 61 in August.In the condo market alone, the picture for sellers was also rosy in Q4, according to Elliman. Median closing prices jumped 26.4 percent year-over-year; sales also rose to 25, from 16 the previous year.Upscale Westside communities also reported rising single-family home prices in the latter portion of pandemic-ravaged 2020, but nothing like Malibu. The median home sale price in Beverly Hills was up 12.5 percent year-over-year from October through December. In the Bel Air/Holmby Hills area, the median closing price jumped 33 percent, but the average price per square foot dropped 20.6 percent.(Click to enlarge)Another reason propelling Malibu’s market mania may be technology.“The fact that people can just Zoom in has made Malibu more accessible for people who never thought they could live here,” said Paul Grisanti, associate manager of Pinnacle Estate Properties and the city’s mayor pro tem. “Locals who were maybe thinking about having a weekend house, this has been a great chance to live there full-time.”Grisanti said the surge in demand has been across all locations and property types, from oceanside to canyon and from estates to condos. “If it’s listed, somebody wants to buy it,” he said.Read moreWhatsApp co-founder drops $87M on Malibu mansionTyra Banks is smizing at her Malibu beach house buyHow CoStar became a $15B juggernautlast_img read more

What distress? Dry powder piles up with few discounts in sight

first_img Full Name* Tags Share via Shortlink Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Message* U.S. private equity funds had more than $250 billion to spend on commercial real estate loans as of March 23, according to Preqin, the news service reported. About $76 billion of that was earmarked for distressed debt.Still, investment funds are continuing to raise money or close on existing funds for real estate opportunities. Cerberus Capital Management closed a $2.8 billion opportunistic real estate fund Monday, surpassing its $2 billion target. Meanwhile, Oaktree Capital Management said it raised $4.7 billion for a real estate opportunities fund, exceeding its $3.5 billion goal.This comes as 30 percent of institutional investors are targeting distressed and opportunistic commercial real estate deals this year, according to a survey by CBRE.Investors might have to wait a while to see returns, if they ever do. JLL looked at $24 billion in potential debt deals last year, but only about $1.4 billion came to market, according to Sledge.[Bloomberg News] — Keith Larsen Contact Keith Larsen Email Address* Oaktree Capital CEO Jay Wintrob and Cerberus Capital CEO Steve Feinberg (Oaktree, Cerberus, iStock)After raising billions of dollars to spend on commercial real estate, distress investors are having a difficult time spending it.Despite projections of massive discounts in real estate prices, few have arisen. Banks have yet to write down loans and commercial property owners have had little incentive to sell.These factors, along with generous stimulus packages from the federal government, have led some investors “to push prices up and their yields down in order to simply deploy capital,” according to Will Sledge, senior managing director at JLL, Bloomberg News reported.Put another way, a lot of money was chasing a paucity of opportunities, creating a supply-and-demand dynamic that sustained pricing.ADVERTISEMENTRead moreThe art of the discounted dealBanks see CRE loan delinquencies hit 5-year highPricing gap stalls distressed asset investors for now Distressdistressed debtPrivate Equitylast_img read more

Bacteria, fungi and protozoa in Signy Island soils compared with those from a temperate moorland

first_imgDuring the past 100 years many papers have been published on Antarctic microbiology in general and that of the soil, snow and ice in particular. However, there are still contradictory statements in the recent literature concerning the scarcity or abundance of micro-organisms in Antarctic soil, the similarities and differences in the composition of the soil microflora and microfauna of Antarctic and temperate soils, and the extent to which the Antarctic micro-organisms are adapted to grow at low temperatures. Many of the microbiological studies of the Antarctic lack detailed information concerning the habitat and detailed comparisons with temperate soils. As a result of opportunities provided by the British Antarctic Survey, microbiological investigations have been made on Signy Island in the South Orkneys and on soil samples and cultures transported to England. The results of these studies are compared here with similar studies made on soils of the Moor House National Nature Reserve in northern England. The paper also draws on the considerable information available concerning the climate, vegetation and soils of the two areas. Three groups of heterotrophic micro-organisms, bacteria, fungi and testate amoebae, have been studied to obtain information on their species composition, distribution and abundance in the soils. An examination of the temperature tolerance of some of the isolates was also made. Full results of these studies have been published or are in preparation (Heal 1965; Bailey in prep.; Latter & Heal in prep.; Latter & Cragg 1967; Latter, Cragg & Heal 1967).last_img read more

Variability in hydrographic conditions to the east and northwest of South Georgia, 1996–2001

first_imgSix years of high-resolution hydrographic data from the eastern and northwestern sides of South Georgia (southwest Atlantic) are used to study the changing circulation and water mass properties of the region. One year of data from these locations was used previously to describe the oceanographic conditions at those times; using the much greater volume of data now available, we identify which features appear temporally robust and which are transient, and begin addressing topics relating to the forcing of the inter-annual variability and the potential consequences for the local ecosystem. Waters on the shelf and those over the adjacent deep ocean invariably have different hydrographic properties, though the transition between them can be abrupt or gradual. The onshelf/offshelf differences vary greatly from year to year, due to the combined influences of local and remote processes. There are several instances of strong physical coupling between the eastern and northwestern sides of South Georgia; this offers potential for distinguishing physically-induced ecosystems changes separately from biologically-induced ecosystems changes. On the northeast side of the shelf, close to Cumberland Bay, there is evidence of an often intense, but variable, cyclonic circulation that is the result of interaction with the local bathymetry. This may act as a retention mechanism, and enhance local productivity. Two examples of extreme cold anomalies are present in the series of measurements. One of these (in 2000/2001) affected a limited area at the eastern side of the region surveyed and was due to an intrusion of the Southern Antarctic Circumpolar Current Front. The other (in early 1998) was due to the combined effects of the passage of a large-scale ocean anomaly that had its origins upstream in the Pacific Ocean, and strong air/sea interaction. Both of these were associated with the strong 1997/1998 El Niño event. Whilst previous studies have observed a link between El Niño forcing and ocean response around South Georgia with a temporal lag of around 3 years, we observe a much more rapid response to the extremely strong 1997/1998 El Niño event. This indicates that the ocean and ecosystem around South Georgia are more immediately susceptible to extreme instances of remote climatic forcing than had been supposed.last_img read more

High altitude Antarctic soil propagule bank yields an exotic moss and potential colonist

first_imgSoil samples from the summit of Coulman Island in northern Victoria Land, continental Antarctica (lat. 73o28’S, 169o45’E) were cultured and after nine weeks they have yeilded sterile shoots of a funarialean moss. Its identity is discussed and, on the basis of the leaf shape, it is determined, with some reservations, as Entosthodon subnudus (Taylor) Fife, a species native to the Australia-New Zealand biogeographical province. This example provides further evidence of the existence of soil propagule banks, sometimes containing taxa not known in the flora of the Antarctic biome. Because of the severity of the polar climate and permanently frigid dry desert conditions, many such propagules may never succeed in growing in situ. The occurrence of E. subnudus represents the highest elevation (2930m) at which a viable plant propagule has been recorded in Antarctica.last_img read more

Tides and the flow of Rutford Ice Stream, West Antarctica

first_img[1] Surface speeds of Rutford Ice Stream, West Antarctica, are known to vary by around 10–20% (depending on location) with a fortnightly periodicity corresponding to a springneaptidal cycle. The reasons for these periodic variations in flow are unclear. Here the possible role of tidal stress transmission upstream of the grounding line in affectingrates of basal motion is investigated. It is found that nonlinear rheological effects within the till, when coupled with transmission of tidal stresses within the ice that are linearly related to tidal amplitude, can give rise to the type of periodic oscillations in flow observed. This nonlinear interaction between tidal forcing and till deformation increases the mean ice flux across the grounding line by a few percent above what might beexpected in the absence of tidal forcing. Periodic velocity fluctuations of this type have not been observed on other ice streams. However, modeling suggests that this may be due to lack of data and that such flow variations are likely to be common features of active ice streams draining into the Ronne Ice Shelf, as well as of other ice streams subjected to similar tidal forcing.last_img read more

Ionospheric scintillation over Antarctica during the storm of 5-6 April 2010

first_imgOn 5 April 2010 a coronal mass ejection produced a travelling solar wind shock front that impacted the Earth’s magnetosphere, producing the largest geomagnetic storm of 2010. The storm resulted in a prolonged period of phase scintillation on Global Positioning System (GPS) signals in Antarctica. The scintillation began in the deep polar cap at South Pole just over 40 minutes after the shock front impact was recorded by a satellite at the first Lagrangian orbit position. Scintillation activity continued there for many hours. On the second day significant phase scintillation was observed from an auroral site (81{degree sign} S) during the post-midnight sector in association with a substorm. Particle data from polar orbiting satellites provide indication of electron and ion precipitation into the Antarctic region during the geomagnetic disturbance. Total Electron Content (TEC) maps show enhanced electron density being drawn into the polar cap in response to southward turning of the interplanetary magnetic field. The plasma enhancement structure then separates from the dayside plasma and drifts southward. Scintillation on the first day is coincident spatially and temporally with both a plasma depletion region in the dayside noon sector, and in the dayside cusp. On the second day scintillation is observed in the nightside auroral region, and appears to be strongly associated with ionospheric irregularities caused by E-region particle precipitation.last_img read more

The freshwater system west of the Antarctic Peninsula: spatial and temporal changes

first_imgClimate change west of the Antarctic Peninsula is the most rapid of anywhere in the Southern Hemisphere, with associated changes in the rates and distributions of freshwater inputs to the ocean. Here, results from the first comprehensive survey of oxygen isotopes in seawater in this region are used to quantify spatial patterns of meteoric water (glacial discharge and precipitation) separately from sea ice melt. High levels of meteoric water are found close to the coast, due to orographic effects on precipitation and strong glacial discharge. Concentrations decrease offshore, driving significant southward geostrophic flows (up to ~30 cm s−1). These produce high meteoric water concentrations at the southern end of the sampling grid, where collapse of the Wilkins Ice Shelf may also have contributed. Sea ice melt concentrations are lower than meteoric water and patchier because of the mobile nature of the sea ice itself. Nonetheless, net sea ice production in the northern part of the sampling grid is inferred; combined with net sea ice melt in the south, this indicates an overall southward ice motion. The survey is contextualized temporally using a decade-long series of isotope data from a coastal Antarctic Peninsula site. This shows a temporal decline in meteoric water in the upper ocean, contrary to expectations based on increasing precipitation and accelerating deglaciation. This is driven by the increasing occurrence of deeper winter mixed layers and has potential implications for concentrations of trace metals supplied to the euphotic zone by glacial discharge. As the regional freshwater system evolves, the continuing isotope monitoring described here will elucidate the ongoing impacts on climate and the ecosystem.last_img read more

Techniques to determine the quiet day curve for a long period of subionospheric VLF observations

first_imgVery low frequency (VLF) transmissions propagating between the conducting Earth’s surface and lower edge of the ionosphere have been used for decades to study the effect of space weather events on the upper atmosphere. The VLF response to these events can only be quantified by comparison of the observed signal to the estimated quiet time or undisturbed signal levels, known as the quiet day curve (QDC). A common QDC calculation approach for periods of investigation of up to several weeks is to use observations made on quiet days close to the days of interest. This approach is invalid when conditions are not quiet around the days of interest. Longer-term QDCs have also been created from specifically identified quiet days within the period and knowledge of propagation characteristics. This approach is time consuming and can be subjective. We present three algorithmic techniques, which are based on either (1) a mean of previous days’ observations, (2) principal component analysis, or (3) the fast Fourier transform (FFT), to calculate the QDC for a long-period VLF data set without identification of specific quiet days as a basis. We demonstrate the effectiveness of the techniques at identifying the true QDCs of synthetic data sets created to mimic patterns seen in actual VLF data including responses to space weather events. We find that the most successful technique is to use a smoothing method, developed within the study, on the data set and then use the developed FFT algorithm. This technique is then applied to multiyear data sets of actual VLF observations.last_img read more