| Business Summary | | First
Union
Real
Estate
Equity
&
Mortgage
Investments
is
a
real
estate
investment
trust
company.
The
Company
is
in
the
business
of
owning
regional
enclosed
shopping
malls,
large
downtown
office
buildings
and
parking
facilities.
As
of
December
31,
2000,
the
Company
owned
(in
fee
or
pursuant
to
long-term
ground
leases
under
which
the
Company
is
lessee)
three
shopping
malls,
four
office
properties,
four
parking
garages,
and
one
surface
parking
lot
in
the
United
States.
In
March
2001,
the
Company
sold
most
of
these
properties.
As
of
March
8,
2001,
the
Company
owned
one
shopping
mall
and
one
office
property. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | FUR
is
engaged
in
the
real
estate,
parking
management
and
parking
and
transit
ticketing
equipment
manufacturing
industries.
For
the
six
months
ended
6/30/01,
reveneus
fell
41%
to
$20
million.
Net
income
applicable
to
Comm.
before
extraordinary
item
fell
50%
to
$25.6
million.
Revenues
reflect
decreased
rental
and
short
term
investment
income.
Earnings
suffered
from
a
$2.7
million
write-down
of
an
investment
in
warrants
and
decreased
capital
gains. | More
from
Market Guide: Significant
Developments |
| | | | FY1999 Pay | |
| William Ackman, 33 Chairman
of Trustees | -- | Daniel Friedman, 42 Pres,
CEO | $343K | William Scully, 38 Vice
Chairman of Trustees | -- | Neil Koenig Interim CFO | -- | Daniel Altobello, 59 Trustee | -- | Dollar
amounts are as of 31-Dec-1999 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|