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BAM Reported to Value GGP at $15….Some Details $$

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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Subs: Miscellaneous…..

Odds and ends…

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Subs: Full Year Earnings Reported $$

NAV is still rising……

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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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Subs: Sears Reports Strong Results & More Licensing News $$

I am just dying to know why this took so long….

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Subs: Sears Reports Strong Results & More Licensing News $$

I am just dying to know why this took so long….

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To Quote Emeril ……… BAM!!! $$

The Brookfield Boys (BAM/BPO) come through for me…

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Subs: Adjourned $$

March 3rd is the new date

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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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Subs: More Monthly Progress Reported $$

More from while I was away…

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Subs: More Positive Economic News $$

This supports our view that 2010 will NOT see the dreaded “double dip”

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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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Subs: Earnings $$

About as expected and a rosier than expected near term outlook.