Rare late Friday night post but wanted to get this out to soak in over the weekend
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Category: Articles
Pre BAM offer for GGP..
This is just so bad on so many levels…..
GGP's COO Tom Nolan was on CNBC yesterday after the BAM deal was announced:
What a waste of time and this is the very reason to ignore 99% of what is on CNBC. It is painfully clear neither of the three CNBC talking heads have no idea WTF is gong on with this situation. They have no value added whatsoever and cut Nolan off at the end when he is trying to make the most important point, embedded institutional demand for shares. If you listen, they were trying to interrupt him while he was making that point....
Dennis Kneale came in at the end with the "if they (Simon) double their offer will you still tell them to go away" mindless utterance. Yes, Dennis, an offer 20% higher than the one you just accepted will be rejected out of hand.....jerk off. What was the point of that question??!!??
They had their questions to ask before Nolan got on and got them in. Nolan could have sat there and did the alphabet in a Donald Duck voice and he would have got the same questions.....
Too bad, they had a great chance to inform people...
This is just so bad on so many levels…..
GGP's COO Tom Nolan was on CNBC yesterday after the BAM deal was announced:
What a waste of time and this is the very reason to ignore 99% of what is on CNBC. It is painfully clear neither of the three CNBC talking heads have no idea WTF is gong on with this situation. They have no value added whatsoever and cut Nolan off at the end when he is trying to make the most important point, embedded institutional demand for shares. If you listen, they were trying to interrupt him while he was making that point....
Dennis Kneale came in at the end with the "if they (Simon) double their offer will you still tell them to go away" mindless utterance. Yes, Dennis, an offer 20% higher than the one you just accepted will be rejected out of hand.....jerk off. What was the point of that question??!!??
They had their questions to ask before Nolan got on and got them in. Nolan could have sat there and did the alphabet in a Donald Duck voice and he would have got the same questions.....
Too bad, they had a great chance to inform people...
Here are the details. $15 a share for the common as value is firm.
Here it is….Ackman’s hand all over this……GOOD!!
Gen Growth Prop Follow Up: General Growth proposes splitting itself in 2 to exit bankruptcy (13.50 +0.53)
WSJ reports the co is expected to unveil a plan Wednesday to exit bankruptcy this year by splitting the company in two, with Canadian property investor Brookfield Asset Management (BAM) pledging $2.63 billion to the effort, said several people familiar with the matter. The complicated plan, drafted partly by activist investor and General Growth board member William Ackman, is meant to top a $10 billion buyout bid that rival mall owner Simon Property Group (SPG) made last week… The Brookfield plan values General Growth at $15 per share, but unlike Simon’s all-cash buyout offer, it relies heavily on selling massive amounts of new stock in the coming months. The Brookfield plan values General Growth at about $4.5 billion in equity value, compared with $3 billion from Simon. But Simon is offering creditors more cash over stock and also has been cutting deals with Blackstone Group and other deep pocketed partners in case it decides to raise its bid. Both plans would repay the company’s $7 billion in debt, though the General Growth plan would likely convert some of that debt into stock, said these people.
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Eddie Lampert’s Annual Letter $$
Sears (SHLD) Chairman’s annual letter for me are a must read. I always get good reading material. Last years it was Hayek’s “Road to Serfdom”
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Eddie Lampert's Annual Letter $$
Sears (SHLD) Chairman’s annual letter for me are a must read. I always get good reading material. Last years it was Hayek’s “Road to Serfdom”
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To Quote Emeril ……… BAM!!! $$
The Brookfield Boys (BAM/BPO) come through for me…
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Moody’s: CRE Prices Increasing $$
Is David Simon out there????
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Moody's: CRE Prices Increasing $$
Is David Simon out there????
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Value Investing Congress Update $$
Time is running out to register for the single best Value Investing event out there….
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General Growth News……Fast and Furious $$
Getting hard to keep up with it
So, has David Simon lost all credibility with anyone else or just me?
So, has David Simon lost all credibility with anyone else or just me?