ProLogis shake-up halts local building plans

November 2008
Las Vegas Business Press (10712186);11/24/2008, Vol. 25 Issue 47, pP5
The article reports that ProLogis, one of Southern Nevada's largest industrial developers, is stopping its projects and is trimming its general expenses by 25%. The real estate investment trust value in Denver, Colorado fell in October 2008 and ProLogis' stock was down by 94% on November 18, 2008. The company's chairman and chief executive officer (CEO), Jeffrey Schwartz, resigned on November 12, 2008. Walter Rakowich, who assumed the CEO position, states that he is looking forward to working with his team to face the challenges ahead.


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