Social Icons Superfish

Nearly 40 million Americans invest in REITs

The Boardroom According to Costanza

04/08/2013 | By Allen Kenney

Published March/April 2013

There’s an episode of the classic 1990s sitcom “Seinfeld” in which the irascible George Costanza finds himself wanting out of his front-office job with the New York Yankees for a new position with the Bronx Bombers’ crosstown rivals, the Mets. League rules, however, prevent the Mets from negotiating with him while he’s still on the Yankees’ payroll. So, the rest of the episode chronicles Costanza’s unsuccessful attempts to get the ax—dragging the World Series trophy around behind his car in the parking lot, streaking across Yankee Stadium, ruining Babe Ruth’s uniform.

Costanza’s problem: Eccentric Yankees owner George Steinbrenner erroneously reads his insubordination as an ingenious campaign to shake the world champions from their complacency.

“Big Stein” might have been wrong about Costanza, but he wasn’t wrong about the corrosive effects of success. Business history is filled with stories of companies that have fallen by the wayside after resting on their laurels.

In their 50-plus years in existence in the United States, REITs have had a great run. The world around them today is changing, though, a notable example being the growing diversity of the workforce.

More and more women are not only filling up the cubicles of REITs’ offices, they’re pulling up chairs in boardrooms, too.

REITs may have thrived in the past with a workplace environment heavy on male executives, but that was then. Evolving at the top will help ensure they’re just as successful in the future.


Other Features

Know How
With Martin “Hap” Stein, Jr. Chairman and CEO, Regency Centers Corporation (NYSE: REG) Why is now a good time for your company to be focusing on...
Everybody Wins
Twenty years ago at NAREIT’s annual convention in New Orleans, Sam Zell, chairman of Equity Group Investments, gave a landmark speech on the future...
Going Viral
Once upon a time, “going viral” meant a couple days in bed and more chicken soup than you could stand. Today, it’s an endgame—the hope that an idea,...
A Cycle of Recycling
Once the exclusive domain of the Boy Scouts, the concept of recycling has become a given in everyday life. Woe unto the careless consumers who ditch...
Enduring Adaptability
Contradictory idioms and tropes tend to get tossed around in the vernacular of business like a 4-year-old trying to decide what to have for lunch. (“...
Bouncing Back
What a difference a year makes—or, in this case, five years. Back in 2008, chaos started to reign around the world, and it felt like the onset of the...
Economics: The New Black
It’s the economy, stupid.” Twenty years have passed since Arkansas Governor Bill Clinton turned that mantra into the foundation of a staggeringly...
Back to Reality
A new year typically symbolizes a fresh start. The truth, though, is that there is no magic reset button to begin things anew. Simply because the...
No Place Like Home
The American Dream is dying—at least the one we all remember. In the wake of the turmoil in the U.S. housing market over the last five years, owning...
Real Assets
Remember back when we paid for everything using paper bills and tiny hunks of metal? These days, pulling cash out of your wallet to pay for your...