As real estate investment trust Mills staggers like a quarterback who's been sacked too many times, the state of New Jersey may be preparing to throw in the towel ending its involvement in the Xanadu project. Mills is building a $2 billion megamall in the Meadowlands next to Giants Stadium. The state is leasing the land to Mills for the project. However, Mills is embroiled in a legal dispute with the NFL's Jets and Giants, who also are trying to build a new stadium in the Meadowlands. Consequently, state Senate president Richard Codey, who's been a supporter of the stadium project, is rallying state politicians to "pull the plug" on the project. The former acting governor, who has long been an opponent of the project, is trying to take advantage of Mills' financial difficulties. Interestingly, Governor Jon Corzine doesn't agree with his Democratic colleague. Perhaps Corzine's skepticism about pulling the plug has to do with the fact that his former employer, Goldman Sachs, is one of Mills' financial advisors. —Matthew Wurtzel
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