Lockheed Martin has announced that the production version of its F-35 Lightning II fighter jet is no longer grounded. On Wednesday, "F-35 production jets were authorized to fly again," said Mike Rein, a spokesman for Lockheed. "They are now flying the same profiles they were prior to the precautionary suspension of operations. This includes acceptance flights at Fort Worth, [Texas], and ferry flights to Eglin."
With low Treasury yields and a positive spread between the cost of buying real estate and financing it, commercial real estate's performance will hold, says Alexander D. Goldfarb, managing director and senior REIT analyst at Sandler O'Neill + Partners. Even though the recovery is faltering, fundamentals are adequate to support REIT growth. People are "renting apartments. They're shopping at the mall. They're leasing office space. They are leasing some warehouse space, and they are going back to college."
Consumers spent 5% more on high-end cosmetics, fragrances and skin-care products in the first three months of 2011 than they did in the same period last year, according to data from NPD Group. "Consumers of these products are in an optimistic mood. They're kind of settled. The sky didn't fall, after all -- and now there's a desire to treat oneself again," said NPD vice president Karen Grant.
Tysons Galleria in Northern Virginia has signed on several luxury retailers recently as part of the center's long-term plan to reposition itself for this market. New tenants include Gucci and Elie Tahari. There are leases for three more retailers pending, according to Stephanie Brager, vice president of asset management at General Growth Properties, which owns the center. "Retailers have improved their margins and are ready to do deals again," she said.