It was late 2008 and the reality of the changing economic landscape was finally starting to sink in. Michael Liyeos and I had left our jobs at InSite Real Estate in the 2nd quarter of 2007 when the attitude among those in commercial real estate was at peak exuberance. There was enough free shwag at the ICSC Recon convention that year to provide Christmas presents for my entire family. However, as we waited for a one year non-compete clause to expire, the foundations of the economy began to show cracks. When Lehman Brothers fell it was concerning but we had never operated through a recession so we didn’t know what exactly to expect.