The title of the post was spoken yesterday by Bill Ackman regarding the $GGP, $SPG, $BAM drama.
Seriously, did the top brass at $BAM or $GGP think their dismissive letters last week were going to be the last word on this? I am going to give them the benefit of a doubt and say they didn’t. But, given the nature of the letters and the manner in which they were written, one truly has to wonder. Here is the news source.
Rather than recite everything we have said all along, here is the last post on the subject.
Bottom line? I can’t see any reason Bruce Flatt given the conflicts that have arisen from the $SPG attempted purchase of $GP and his role should remain the Chairman of GGP. Further, I am shocked and more than a little disappointed the Board of GGP has seemingly taken no action due to the events. Now. some could be forthcoming, but to remain silent for so long over this is discouraging……