BlackRock Still Profitable Even With Poor Commercial Market
This is pretty good news. BlackRock seems to be the poster child for excesses in the commercial real estate world. Yet, in the midst of all this turmoil last quarter they still earned 110 million in profit.
So while we are all fretting about this and that, BlackRock is still making money even when they made huge investments at the top of the market.
That should tell you something.
Distress in several investment sectors, including bonds and real estate, dragged down profits. BlackRock said it had $110 million in adjusted net income, or 81 cents a share, matching analysts’ estimates. Its revenue for the quarter fell 24 percent, to $987 million, from $1.3 billion at the same time last year.
Net income including one-time charges fell 65 percent, to $84 million, or 62 cents a share, from $241 million, or $1.77 a share, a year ago.
“Obviously, asset management businesses are experiencing probably the worst headwinds that they’ve ever experienced in modern times,” Laurence D. Fink, BlackRock’s chairman and chief executive, said in a conference call with analysts. “This is going to dramatically change the industry.” via NYTimes.com.
My mom told me to put the statue in the ground, just seems wrong to me but I did it. ...
What about RE/MAX Commercial? Where this classification came from?
I am pretty sure RE/MAX Commercial in volume sales must be above ...
Well Tom, once again you have said it much better than I could have. Unfortunately the folks at Move, ...
It certainly does not bode well for a fast recovery in the economic climate. This will affect all real estate ...
I HAVE 25 YEARS EXPERIENCE IN TELECOMMUNICATIONS..HOW DO I APPLY AT KAI. 
Definitely not a fan of Move Inc.!!! 
A lot of you really need to go back to kindergarten and learn to spell correctly. If you cannot spell ...
In 2008, there was an extension to push first-time home buyers to purchase their homes quickly since the program did ...
I also need HELP and don't know what to do about my problem. I have a garden apartment off ...
I have the same situation. I sold my home in July and am scheduled to to close in a few ...
Comment by randi on 24 April 2009:
wow, that’s a great news to hear, well done keep it up your good work