**UPDATE***
Company #1 Did let some people go, as recently as late last week, but due to normal course of business not any formal RIF.
But I still hear there will be at least one real estate technology company announcing layoffs this week.
That being said, I hope I’m wrong.
Conrad M. Hall, President and CEO of Dominion Enterprises has stepped down. Citing “spending more time with family” and working on volunteer projects he plans to leave the company at the end of January 2009. A successor has not been named.
Dominion Enterprises owns some of real estate technologies most well known brands, including Homes.com, Advanced Access, Best Image Marketing (Number1Agent), and eNeighborhoods.
Dominion Enterprises’ parent company, Landmark Communications, announced in January 2008 their intention of selling Dominion Enterprises. They failed to do so and announced last month that it would be “for several years before reinstituting the sales process, ”
Mr. Hall turned 65 last month. He joined Landmark in 1970 as a financial analyst. According to a recent article “He has led Trader Publishing and Dominion Enterprises for their entire existence – 17 years.” and was quoted saying “It’s important to do what you really enjoy doing,” he said, “because life’s pretty short.”
Happy Trails Conrad!
I’m hearing from multiple sources that more than 2 big companies in Real Estate technology will be doing a round of layoffs this week.
2 weeks before Christmas, brutal!
Anybody have any confirmation yet?
Landmark calls off the sale of The Virginian-Pilot Media Cos according to an article in the The Virginian-Pilot.
Landmark is the parent company of Dominion Enterprises which owns many of real estate’s top online brands, such as Homes.com, Advanced Access, Best Image Marketing (Number1Expert), and eNeighborhoods.
Back in January Landmark had announced that it was going to sell all its assets including Dominion Enterprises. It failed.
That leaves several thousand of employees in a state of limbo. While Dominion Enterprises maintains it will continue to run and grow its companies one can only speculate on what Dominion Enterprises will do to keep these companies running smoothly.
It will be interesting to see if Dominion Enterprises passes this test.
