A top-ten baby-boomer.

• Author: Dalby, Ron
• Position: Century 21 CEO Bob Pittman - Interview

Life Magazine named Bob Pittman the eighth-most-influential baby-boomer in North America, only three places below President Bill Clinton. We caught up with Pittman in Anchorage recently.

Perhaps the defining moment of our conversation came when Bob Pittman stated his political philosophy. Describing himself as a social liberal, a fiscal conservative and a pragmatic environmentalist, he probably came closer than almost anyone to describing the politics of a baby-boomer.

The list of Pittman's business accomplishments is almost legendary, and it's far from complete. Currently he is the managing partner and CEO of Century 21, a worldwide chain of real estate agencies; he sits on the boards of America Online, HFS and 3DO. He was formerly on the boards of Electronic Arts and Atari Games Corp. Along the way he created a cable-television network or two, and, not incidentally, became wealthy.

While this might seem like a resume for some kind of gung-ho business Superman, he's also incredibly personable, even in an Alaska sort of way. At the luncheon before our interview, he wandered from table to table briefly listening to the various conversations, finally sitting down where the air was thick with stories of flying in the Alaska Bush. Pittman has his own plane, though he admits it's not a bush plane, and easily joined in a pilot's favorite pastime of using his hands and arms to illustrate flying stories.

ABM: What's your perception of the Alaska real estate market?

Pittman: I think the long-term potential for Alaska is terrific. Initially, it was driven clearly by the oil boom, but it (now) seems to be a much more diversified place and also stands geographically at a very interesting place for the growth of the Pacific Rim economy. We're looking at this as being a growth market for us.

ABM: What's it mean for an investor?

Pittman: I think you're looking at it as a stable investment opportunity. I think you've seen the speculation come out of this market - like why did a house drop in half in value - because half the price was speculation, not real value. I think it's back to real value now.

ABM: What does it mean for the average person, say the first-time home buyer?

Pittman: I think Americans by and large view their home equity as their nest egg, and I think it's pretty darn safe.

ABM: What commercial opportunities, not necessarily real estate, do you see ahead for Alaska?

Pittman: When I was at Time-Warner, more than half the revenue came from outside the U.S., and I think that is increasingly becoming the way of every business. I think Alaska is going to be tied to the Pacific Rim, although it's not that far from Germany. I think as you begin to look at air transportation, Alaska is in a very...