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March 24, 2009
Forest City in the News
PR Newswire, Forest City Enterprises Notice of Fourth-Quarter and Full-Year 2008 Earnings Conference Call
CLEVELAND, March 23 /PRNewswire-FirstCall/ -- Forest City Enterprises, Inc., (NYSE: FCEA) (NYSE: FCEB) will release its fourth-quarter and full-year 2008 financial results on Monday, March 30, 2009, and will hold a conference call with investors on Tuesday, March 31, 2009 at 11:00 a.m. ET to discuss these results. Investors are invited to dial into the conference call hosted by Charles A. Ratner, president and chief executive officer.
The conference call is scheduled for 11:00 A.M. ET, Tuesday, March 31, 2009. To participate, dial 888-679-8034 using access code 18297673, approximately five minutes before the call. Tell the operator you wish to join the Forest City 4th Quarter Earnings Conference Call. (International callers, please dial 617-213-4847)
A live webcast of the call will also be available online at www.forestcity.net.
Please use the following link to pre-register for this conference call. Callers who pre-register will be given a unique PIN to gain immediate access to the call and bypass the live operator. You may pre-register at any time, including up to and after the call start time.
To pre-register please go to: https://www.theconferencingservice.com/prereg/key.process?key=P8K9QVFQF
The call will be replayed from March 31, 2009, 2:00 P.M. ET to April 30, 2009, 11:59 P.M. ET. The replay number is 888-286-8010, access code 88419381. (International callers, please dial 617-801-6888) The webcast replay will be available at www.forestcity.net .
If you have questions, please call AnnMarie Fenske at Forest City, 216-621-6060.
Brownstoner, A Touch of Glass for 80 Dekalb
The bay windows are being installed as work continues on Forest City Ratner's 80 DeKalb Ave. project:
Sometime between last Tuesday, when we posted Development Watch, and this weekend, when we drove by again, 80 Dekalb got its first windows and facade panels. Interestingly, they are not a flush design; instead they are three-sided, like half a hexagon, meaning that all those protrusions are going to be interior, not little balconies.
GlobeSt.com, TOD Stalled, Not Forgotten
A Forest City exec at a panel discussion on transit-oriented developement hosted by the Urban Land Institute is keeping an eye on the next wave:
“The last transit-oriented boom was really driven by condos, but during the next upturn, what’s going to be the market driver?”
Answers included mixed use, and small community centers. [Senior VP of development for Forest City Residential Inc. Renata] Simril’s answer: “The 75 million eco-boomers who are entering college now. They are going to be the next wave of renters.”
NoLandGrab: Simril likely said or meant "echo-boomers." To say that the recent transit-oriented boom was really driven by condos is overlooking the fact that the boom was actually fueled by access to easy credit. While it is helpful to look at demographic data, that's only part of the picture.
Simril also likely said or meant "7.5 million," not 75 million. The US Census Bureau currently estimate total college enrollment at 15.9 million students. Of course, Atlantic Yards watchers know well that Forest City sometimes plays loose with the "facts."
FCE-A climbs back over $4 mark
Trading on average volume, common stock in Forest City Enterprises spent the day trading above $4, to close at $4.80 (not like we're paying attention or anything).
Posted by lumi at March 24, 2009 5:12 AM