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Adaptability and transparency are paramount to weathering the current economic environment, according to real-estate leader Stephen Quazzo. "In business, it isn't just real estate. All have to adapt to change," Quazzo said. Quazzo said he spends much of his time on crucial stakeholders - employees, lenders, and investors - as well as on portfolio management and strategic initiatives. Despite difficult cutbacks, including a hiring freeze and the elimination of some staff, Quazzo stressed that "Labor is not a variable cost in the business."
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