Mack-Cali Realty's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Mack-Cali Realty Corp. (CLI)

Q1 2012 Earnings Conference Call

April 26, 2012 10:00 ET

Executives

Mitchell Hersh – President and CEO

Barry Lefkowitz – EVP and CFO

Analysts

Jamie Feldman – Bank of America Merrill Lynch

Sheila McGrath – KBW

Michael Knott – Green Street Advisors

Ross Nussbaum – UBS

Craig Melman – KeyBanc Capital Markets

Jim Sullivan – Cowen and Company

Presentation

Operator

Thank you for joining Mack Cali's first quarter 2012 earnings conference call. With me today is Barry Lefkowitz, Executive Vice President and Chief Financial Officer. On a legal note, I must remind everyone that certain information discussed on this call may constitute forward-looking statements within the meaning of the Federal Securities Law. Although we believe the estimates reflected in these statements are based on reasonable assumptions, we cannot give assurance that the anticipated results will be achieved. We refer you to our press release and annual and quarterly reports filed with the SEC for risk factors that could impact the company.

Truthfully not much has changed in the macroeconomic environment since our last earnings call. Economic recovery and job creation remains at painfully slow pace. There is a general lack of clarity emanating from Washington concerning tax policy, healthcare reform and other entitlement programs and of course the partial of European contingent. And so as I have said before, we'll probably be in a relatively holding pattern with respect to seeing substantial gains in the macroeconomic environment until the election. Hopefully at that point we will have clarity and we’ll be in a much stronger growth mode in our economy.

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