<p>Over 20 years with the firm and brought in many millions in fees over the years. Always a tough cookie and now they can him because he did not play well with others. This business is not patty-cake. Makes you wonder.</p>
<p>So who did he Pi** at the office? Was he a lawsuit waiting to happen? New CEO who couldn’t stand him?</p>
<p>Got into a feud with the other top (but lesser) producer over who would get to handle certain deals. Also was tough on new hires. But he also did 10-20% of the total company business with mostly his own client base. Seems like some compromise could have been made. The last time they fired a similar guy it was for hitting another employee–that we understood.</p>
<p>Sorry to hear your story for it causes such turmoil in an office…much less with clients. So…now you will have the war over his book right??? Sounds like a compromise was in order but some folks cannot resist the act of war…they don’t learn. How are you doing???</p>
<p>barrons, do you think the bosses think they can replace him with people that will work for less?</p>
<p>work for less in one thing…generating the volume is another. How will they cover the volume with the “lesser” producer? I presume Mr. Lesser has convinced folks that he could do sooooo much better. Wow on this. It is a tricky time with energy prices reeling, labor issues in some sectors and Guru Greenspan departing…it could be a big show to watch.</p>
<p>I’ve seen top producers in the stock brokerage business get canned after many years and get replaced by younger workers who work for less than half. I don’t know how well the younger people end up producing.</p>
<p>We do commercial real estate at a pretty high level (one of top firms in the world) although our office is small compared to the larger cities. Glad I work on the other end (finance instead of leasing/sales). We are our own world but his production helped keep the lights on for everyone. Mr Less is more amiable and younger but I doubt he is as good a negotiator for his clients–the other guy was really tough and did not leave much on the table. When you are talking a $60 million lease over the term–that’s some real $$$$.</p>
<p>Wel, I guess Mr. More was a real pr***. Sometimes money just isn’t worth the aggravation.</p>
<p>Mr Less is under a bit of pressure now isn’t he? Funny that you are involved in real estate…I mean talk about a market that is on the verge??? Volatility may become an issue…not that you would be so affected but the office might be. I wonder if there was a difference in philosophy about the market???</p>
<p>In my experience a lot of top execs don’t understand the importance of the people who deal directly with the clients. They think you can replace people like copy machines or something - and the good, experienced account handlers tend to make more money than newbies. So - out he goes. Dumb move, usually. I’ve seen a company have to literally close down an entire plant because of the business they lost after getting rid of an account guy who was “making too much money.”</p>
<p>Some managers never learn to respect those in the office that bring in the numbers. Now the pressure will get spread around as things head South.</p>
<p>Commercial RE has its own cycle separate from residential. Although the entire economy is pretty well inter-dependent homes, office and industrial move at different times with demand and supply curves often peaking at different times. The bump in interest rates has made my finance side CRAZY. I’ll be working every day for the next month or two at least. We are turning away very good deals due to impossible timing.</p>
<p>Does that mean your firm is worried about real estate in 2006 or 2007?</p>
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<p>Some employees never learn to respect everyone else in the office. They assume that bringing in big numbers will excuse them for acting like jerks and alienating everyone.</p>
<p>Rising rates will hit commercial prices soon. Cap rates are at historical lows so nowhere to go but up–soon. That lowers the value unless income goes up faster. I’d say most commercial RE is fully priced now in most of the US.</p>