Monday, June 19, 2017

Griffin Pounces

That did not take long.  Late Thursday W. P. Carey announced it was exiting the distribution of non-traded investments, and today Griffin Capital announced that it has hired former W. P. Carey executive Mark Goldberg, who among other duties at W. P. Carey served as Chairman of Carey Financial and President of W. P. Carey Investment Management.  I guess Griffin Capital is not the "other" non-traded alternative investment sponsor rumored to follow W. P. Carey's example and quit the industry.

Separately, I always laugh at the sycophantic claptrap quotes in press releases.  Just once I would like to read: "We hired Mr. So-and-so because he is a ruthless SOB who will not only help us gain market share and crush our competitors, but he also will fire the slacking employees we did not have the courage to terminate."

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