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CBRE Group, inc (CBRE) Q2 2021 Earnings Call Transcript

CBRE Group, inc (CBRE) Q2 2021 Earnings Call Transcript
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Convention center bidding misconduct leads to $9M settlement

Convention center bidding misconduct leads to $9M settlement
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Associated Press
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Wednesday, December 30, 2020
DENVER (AP) - Denver will receive a $9 million settlement to resolve claims against a construction company and a developer that violated the city’s public procurement rules during the early stages of planned renovation work at the Colorado Convention Center.
Trammel Crow Company and Mortenson Construction must pay $4.5 million each and issue a public apology to the city, according to the settlement. Mortenson also will not be allowed to bid on city contracts for three years, KUSA-TV reported Wednesday. ....

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Mortensen must pay $4.5M in settlement over Denver convention center

Mortensen must pay $4.5M in settlement over Denver convention center
By: Associated Press
December 31, 2020
10:02 am
DENVER (AP) Mortensen Construction will pay half of a $9 million settlement to the city of Denver to resolve claims that it and a developer violated the city’s public procurement rules during the early stages of planned renovation work at the Colorado Convention Center.
Mortenson Construction and Trammel Crow Company must pay $4.5 million each and issue a public apology to the city, according to the settlement. Mortenson also will not be allowed to bid on city contracts for three years, KUSA-TV reported Wednesday.
“This case involved a serious breach of Denver’s well-established procurement rules by companies that should have known better,” Mayor Michael Hancock said. ....

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Significant Leadership Changes Announced Across Several Commercial Real Estate Firms

Significant Leadership Changes Announced Across Several Commercial Real Estate Firms
CBRE expands office investor leasing group with former Cushman & Wakefield team, Trammell Crow Co. promotes three to C-Suite, and more.
The Dallas-Fort Worth commercial real estate industry has seen major activity in the past couple of weeks but I am not talking about deals and transactions.
Earlier this week, news broke that 30-year industry veteran Ran Holman departed his position at Cushman & Wakefield to oversee the newly rebranded Newmark’s growing presence in Dallas-Fort Worth, Houston, Austin, San Antonio, and other markets (click here to read more). The news was followed by the sudden departure of Steve Everbach from Colliers International and the naming of former CBRE executive Daniel Taylor as executive managing director and market leader of Colliers’ Dallas office (click here to read more). ....

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