Adam Baker is a promising young COO at Straus Event Specialists and the protege of CEO Merwyn Straus, who acquired him along with his failed company, Tallyrymple, a few years ago. Adam suggested that SES and two partners invest in a chain of hotels, and now he wants to run the new business. "That door isn't open to you" is Merwyn's response. "Let it go," says Adam's friend Kaleeb. "Be more aggressive," says Kaleeb's wife. Adam must decide whether to push Merwyn to give him the job. Commentary by Marshall Goldsmith, a leading executive educator and coach, and Richard C. Kessler, the CEO of a group of 10 boutique hotels in the U.S.
Adam Baker is a promising young COO at Straus Event Specialists and the protege of CEO Merwyn Straus, who acquired him along with his failed company, Tallyrymple, a few years ago. Adam suggested that SES and two partners invest in a chain of hotels, and now he wants to run the new business. "That door isn't open to you" is Merwyn's response. "Let it go," says Adam's friend Kaleeb. "Be more aggressive," says Kaleeb's wife. Adam must decide whether to push Merwyn to give him the job. Commentary by Marshall Goldsmith, a leading executive educator and coach, and Richard C. Kessler, the CEO of a group of 10 boutique hotels in the U.S.
Busse Corporate Center's largest tenant recently declared bankruptcy, leaving the building 38% occupied and significantly overleveraged. In a depressed suburban Chicago office market, Marisa Sanchez, the leasing agent, has to negotiate lease proposals with three prospective tenants to try to fill the vacant space. Meanwhile, the building's owner, Collins Properties, must decide with its equity partner whether to continue funding the building's losses while trying to lease the vacant space, restructure the debt, or default on the loan and turn the building over to its lenders. The decision is made more complicated by Collins' use of a Commercial Mortgage Backed Security (CMBS) Loan, which involves multiple parties, ambiguous relationships, and bifurcated responsibilities.