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CPN's Executive of the Year awards
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Milton Cooper
CEO
Kimco Realty Corp.
For a very long period of time, anyone could have been successful. I was around at the right time, retrospectively. And I think we as a company always tried to follow the Golden Rule: Treat everyone the way you want to be treated-think about their problems, their issues. Be flexible. But I've also always had a certain ambition and drive. You get motivated out of a need and desire. A certain amount is genetic.
Going forward, I think we're headed for some very difficult times. It's all cyclical changes-we've been there-although each one is different, too. Nonetheless, in times of recessions and difficulties and large vacancies and tenant bankruptcies-and there've been so many-you need relationships with people who are doing well or who are in distress. They open up the opportunities for you to use your capital to help them, and they'll feel more comfortable with someone they know and feel will treat them fairly.
What else do you need to survive difficult times? Liquidity, liquidity, liquidity, liquidity, liquidity. Just be patient and make sure you have liquidity to meet any debt maturity. Liquidity to be sure your business is strong and liquidity to be able to seize opportunities that may come because of distress and recession.
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