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Sounds kind of dirty, right? Actually, it's because of a clean visual that technical analysts use this term. Technical analysts like charts (hence their nickname of "chartists"), and they like to give certain patterns they see neat little names.
Such is the case with the double bottom, which looks on a chart like, well, a double bottom. Think of three mountains (on a chart reflecting a rise in values) separated by two valleys (representing dips in value). The troughs of the valleys, and the size of the first two peaks, are generally the same, so the chart looks like the letter 'W.' The appearance of those two valleys represents a double bottom.
So what? Well, if you're one of those folks who believes in the power of the charts, seeing a double bottom suggests a long-term trend is about to reverse. So, if a stock chart shows shares falling for several months, then seeing a double bottom, chances are good (according to the chartists) that the shares will rise. And vice versa.
But, beware: charts can be a great tool, but they're more art than science. Use any charts with caution.
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Wednesday, May 07, 2008
Gramercy Capital Corp. Strengthens Gramercy Realty Operating Management Team
Comtex
NEW YORK, May 07, 2008 (BUSINESS WIRE) ----Gramercy Capital Corp. (NYSE: GKK) (the "Company") today announced that Michael Berman has joined its Gramercy Realty division as Senior Vice President, Leasing and Portfolio Management. Mr. Berman brings to Gramercy Realty more than 20 years of commercial property leasing and asset management experience involving commercial properties throughout the United States with industry leaders including Equity Office Properties, Brookfield Properties, Reckson Associates, La Salle Partners, Julien J. Studley, Inc., and most recently, Antares Investment Partners.
Mr. Berman will help direct the repositioning, leasing, and asset management of Gramercy Realty's commercial property holdings, which comprise 30.4 million square feet in 38 states and the District of Columbia with an aggregate value of approximately $3.5 billion. Mr. Berman's hiring is the latest step by Gramercy to enhance the operational management team responsible for reconfiguring Gramercy into an integrated commercial real estate finance and property investment company that remains committed to promoting stable earnings growth and value creation for its shareholders.
Gramercy's Chief Operating Officer, Bob Foley, commented, "Michael and his 20-year record of accomplishment in leasing, operations, and portfolio management are precisely what we've sought to execute a program to manage our commercial property portfolio, generate additional cash flow, and create more value for our shareholders. He will provide senior-level experience and judgment to the Gramercy Realty team."
Company Profile
Gramercy Capital Corp. is an integrated commercial real estate finance and property investment company whose Gramercy Finance division focuses on the direct origination and acquisition of whole loans, subordinate interests in whole loans, mezzanine loans, preferred equity, CMBS and other real estate securities, and whose Gramercy Realty division targets commercial properties net leased primarily to financial institutions and affiliated users throughout the United States. Gramercy is externally-managed by GKK Manager LLC, which is a majority-owned subsidiary of SL Green Realty Corp. (NYSE: SLG). Gramercy is headquartered in New York City, and has regional investment and portfolio management offices in Los Angeles, California, Jenkintown, Pennsylvania, and Charlotte, North Carolina. To review Gramercy's latest news releases and other corporate documents, please visit the Company's website at www.gramercycapitalcorp.com or contact Investor Relations at 212-297-1017.
Forward-looking Information
This press release contains forward-looking information based upon the Company's current best judgment and expectations. Actual results could vary from those presented herein. The risks and uncertainties associated with forward-looking information in this release include the strength of the commercial real estate property markets, competitive market conditions, unanticipated administrative costs, general and local economic conditions, interest rates, capital market conditions, bankruptcies and defaults of borrowers or tenants in properties securing the Company's investments, difficulties encountered in integrating American Financial Realty Trust into the Company, and other factors, which are beyond the Company's control. We undertake no obligation to publicly update or revise any of the forward-looking information. For further information, please refer to the Company's filings with the Securities and Exchange Commission.
SOURCE: Gramercy Capital Corp.
Gramercy Capital Corp. John B. Roche, 212-297-1038 Chief Financial Officer or Heidi Gillette, 212-297-1000 Investor Relations
Copyright Business Wire 2008
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