Entries tagged "General Growth Properties Inc."
Goldman Sachs recorded strong but questionable first-quarter earnings, the IPO market saw some action and General Growth filed for bankruptcy, registering the largest failure of a REIT in the U.S.
The Dow finished up 95.81, or 1.19%, to 8,125.43 while the Nasdaq increased 43.64, or 2.68%, to 1,670.44.
With retailers in trouble and both companies deep in debt, Simon and Kimco are following the same roadmap General Growth did to bankruptcy.
Changing bankruptcy counsel is not completely unusual, but changing it when you haven't even filed for bankruptcy yet is. Troubled mall owner General Growth Properties Inc. did just that recently....
Minority stake holder of General Growth Properties Inc. -- Fidelity Investments -- sees hedge fund manager William Ackman's Pershing Square Capital Management LP's recent purchase of 20% of the REIT as a catalyst that may help to turn around the beleaguered company. Shares of General Growth jumped as much as 98% in Tuesday trading on news of the Pershing purchases, which were made over a period of time in November, according to a Bloomberg report that cited an SEC filing. ...
