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Cypress Equities welcomes new director
Dallas -- Cypress Equities Cos. announced that it has hired Lance Taylor, director of asset management.
Taylor brings 25 years of experience in commercial real estate with varied responsibilities that include underwriting, acquisition, asset management, leasing, land development, receivership and dispositions. Lance’s background includes Archon Group, Deutsche Asset & Wealth Management, Jones Lang LaSalle America’s, Inc. and Stream Realty Partners, L.P.
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Steinmart moves on after SEC investigation
Steinmart didn’t admit wrongdoing and the Securities and Exchange Commission didn’t bring any charges, but concluding a nearly five year old accounting investigation still cost the company $800,000.
An $800,000 fine may not sound like much to retailers with annual sales in the billions, but Steinmart is relatively small, generating sales of $311 million from 269 stores in the second quarter. An $800,000 fine represents 20% of the company’s net income for the period.

