How to plan for the commercial real estate collapse Encompassing apartment, office, retail, hospitality, warehouse, manufacturing, and flex or R & D buildings, commercial real estate (CRE) investment in the U.S. totaled $6.4 trillion at the end of 2008. As noted in the February 2010 Congressional Oversight Panel Report, $1.4 trillion of CRE debt is coming due by 2014 and half of the CRE projects securing such debt are underwater. Commercial Real Estate Restructuring Revolution: Strategies, Tranche Warfare, and Prospects for Recovery looks at how we got into this mess–impacts of the housing crisis, debt structures, lender-borrower collusion, and bankruptcy abuses–and offers possible solutions to the CRE crisis. Along the way, author Stephen Meister: • Discusses how CRE value losses are being driven by investors’ risk adjusted cap rates, not just poorer market fundamentals • Discusses strategies and emerging trends in CRE foreclosures, including forced lender fundings, lender attempts to chill bids and UCC foreclosure tactics and pitfalls • Proposes legislative solutions and explains how any rebound will require federal spending cuts, a vast deleveraging and a market clearing process With a crashing CRE debt market and the hundreds of CRE-heavy regional banks destined for failure, getting out ahead of the curve is essential. Commercial Real Estate Restructuring Revolution addresses how we got here and how you can plan for the impending crash.

How to plan for the commercial real estate collapse Encompassing apartment, office, retail, hospitality, warehouse, manufacturing, and flex or R & D buildings, commercial real estate (CRE) investment in the U.S. totaled $6.4 trillion at the end of 2008. As noted in the February 2010 Congressional Oversight Panel Report, $1.4 trillion of CRE debt is coming due by 2014 and half of the CRE projects securing such debt are underwater. Commercial Real Estate Restructuring Revolution: Strategies, Tranche Warfare, and Prospects for Recovery looks at how we got into this mess–impacts of the housing crisis, debt structures, lender-borrower collusion, and bankruptcy abuses–and offers possible solutions to the CRE crisis. Along the way, author Stephen Meister: • Discusses how CRE value losses are being driven by investors’ risk adjusted cap rates, not just poorer market fundamentals • Discusses strategies and emerging trends in CRE foreclosures, including forced lender fundings, lender attempts to chill bids and UCC foreclosure tactics and pitfalls • Proposes legislative solutions and explains how any rebound will require federal spending cuts, a vast deleveraging and a market clearing process With a crashing CRE debt market and the hundreds of CRE-heavy regional banks destined for failure, getting out ahead of the curve is essential. Commercial Real Estate Restructuring Revolution addresses how we got here and how you can plan for the impending crash.

In recent years, crowdfunding has become important and it has been enthusiastically used not only by commercial organizations but also by the public sector. This alternative source of financing in times of constrained government budgets enables citizens to vote with their dollars online to bring ideas into reality. This book sheds light on the developing concept of crowdfunding in the public sector, with an overview of current academic discussions and best practices on crowdfunding in the public sector. The volume approaches crowdfunding in the public sector from an integrated perspective, addressing the dearth of publications on the subject. The book gathers a wealth of theoretical information, ideas, best practices and lessons learned in the context of executing concrete crowdfunding projects, and assess methodological approaches to integrating the topic of crowdfunding in public organizations curricula. The book provides definitions, insights and examples of this managerial perspective resulting in a theoretical framework of crowdfunding in the public sector. The contributors also explore different crowdfunding applications in public sectors such as local government, higher education, schools, arts & culture organizations, healthcare, energy sector, and police services, which are presented in several case studies. This is a unique book in the field that points the way forward both for policymakers and for the research community in terms of thinking about crowdfunding in the public sector and the complex issues surrounding its development.

Challenges, solve the problems and chart a new course in this changing industry.

World-renowned economist Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, explains that we have an opportunity to shape the fourth industrial revolu­tion, which will fundamentally alter how we live and work. Schwab argues that this revolution is different in scale, scope and complexity from any that have come before. Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human. Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wear­able sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Imagine “smart factories” in which global systems of manu­facturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials. The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history. He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individu­als. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them. We all have the opportunity to contribute to developing new frame­works that advance progress.