Comments for General Growth Faces 5 PM Deadline
CRbot says:
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CRbot Fri Mar 20 10:20:39 2009 CDT #
Cinco-X says:
What if they come in at 6PM?
Cinco-X Fri Mar 20 10:20:55 2009 CDT #
Anonymous says:
They're not going to come in at 6, or 7 or ever. They're toast.
Parent Post
Anonymous Fri Mar 20 13:53:19 2009 CDT #
black dog says:
Look for more Friedman books in the future...a lot more.
black dog Fri Mar 20 10:22:57 2009 CDT #
EvilHenryPaulson says:
The one who writes terrible articles and not the one who ruined many countries?
Parent Post
EvilHenryPaulson Fri Mar 20 10:25:49 2009 CDT #
REBear says:
Goldman was adequately hedged against AIG failure : CFO
>>
Can we have our money back?
REBear Fri Mar 20 10:24:18 2009 CDT #
EvilHenryPaulson says:
What's the point of catching Paulson with 12oz of coke, 1 dead hooker, 1 underage hooker, and a midget transvestite at the company Christmas party if you can't use the photos as blackmail or "pixel hedging"
Parent Post
EvilHenryPaulson Fri Mar 20 10:28:02 2009 CDT #
Cinco-X says:
Argh! My eyes!
Parent Post
Cinco-X Fri Mar 20 10:30:16 2009 CDT #
bearly says:
If they go into liquidation, who will buy their deteriorating assets ?
Oh, look over there! There's a guy with a beard that looks like a sucker ready to blow OPM.
bearly Fri Mar 20 10:24:27 2009 CDT #
Cinco-X says:
OT-
Interesting note on the velocity of money:
http://research.stlouisfed.org/publications/mt/page12.pdf
All the liquidity in the world won't help as monetary velocity approaches zero.
Cinco-X Fri Mar 20 10:25:24 2009 CDT #
iceman says:
With GGP, its a matter of when, not if.
iceman Fri Mar 20 10:25:52 2009 CDT #
nova says:
Can they have a sale? Maybe a bake sale? Have the girl scouts, band moms, and firefighters claimed every available sq. ft. for their bakesales?
nova Fri Mar 20 10:26:18 2009 CDT #
burnside says:
This is puzzling to me. Why is Moody's dithering? If they're in default, are they in default?
burnside Fri Mar 20 10:26:50 2009 CDT #
DitchTheDollar says:
If only it was.. General Motors...!
DitchTheDollar Fri Mar 20 10:26:54 2009 CDT #
Slappy says:
Tom Friedman's in-laws, i love it
Slappy Fri Mar 20 10:27:36 2009 CDT #
JimPortlandOR says:
bastardized holiday music: "Let um fall, let um fall, let um fall".
JimPortlandOR Fri Mar 20 10:28:36 2009 CDT #
Anonymous says:
Equities negative.. Bonds down.. money going in the mattress again???!
Anonymous Fri Mar 20 10:29:00 2009 CDT #
nova says:
BTW IS that you Michael in the foto ad below the post. The white guy with tape over his mouth being taken away by the bildabears?
nova Fri Mar 20 10:29:22 2009 CDT #
Chicago Dude says:
I bet a lot of people would love the chance to buy their corporate HQ in Chicago. It's one of the most underutilized properties downtown - large lot, close to transit, on the river and only a 4-story building.
It's too bad - the building is an excellent example of mid-century modern. But if GGP is liquidated the land it sits on might be one of the more valued parts of the liquidation.
Chicago Dude Fri Mar 20 10:30:48 2009 CDT #
Dust Bowling for Dollars says:
These fine folks run our local mall. It's always full of people, but I suspect these people are scaring awayf the people that support the anchors. I have seen a huge increase in tawdry kiosks. I've been watching on my infrequent visits for mounting signs of trouble, but they seem to be all right. No empty storefronts, none of that downgrading to cheesy non-nationals that you often see when a mall starts to crumble.
Dust Bowling for Dollars Fri Mar 20 10:31:21 2009 CDT #
Cheelah says:
GG needs to try and settle up in Friedman units.
Cheelah Fri Mar 20 10:31:31 2009 CDT #
JimPortlandOR says:
Just think of the nice public parks we could get by de-malling of America?
Or Grow Houses!
JimPortlandOR Fri Mar 20 10:32:20 2009 CDT #
nova says:
It's too bad - the building is an excellent example of mid-century modern. But if GGP is liquidated the land it sits on might be one of the more valued parts of the liquidation.
And when it is gone - there won't be a "lot" left.
nova Fri Mar 20 10:32:44 2009 CDT #
cd says:
dust bowl-
people walking around is not people buying...
cd Fri Mar 20 10:34:00 2009 CDT #
Dust Bowling for Dollars says:
http://www.rollingstone.com/politics/story/26793903/the_big_takeover/print
If anyone wants a fun little torches and pitchforks diatribe for their lunch hour...
Dust Bowling for Dollars Fri Mar 20 10:34:28 2009 CDT #
burnside says:
Jim confess now. You're really David Byrne.
burnside Fri Mar 20 10:36:25 2009 CDT #
REBear says:
Goldman CFO says it had no exposure to possible AIG failure
REBear Fri Mar 20 10:36:48 2009 CDT #
EvilHenryPaulson says:
I'm calling him a liar
There was no other way for them to produce $12.9bn in 2008Q4
They hedged late and heavy to rid them of MBS exposure in August 2007, AIG was the only one large and stupid enough to allow them that chance
Parent Post
EvilHenryPaulson Fri Mar 20 10:41:20 2009 CDT #
Rob Dawg says:
Moody's Investors Service lowered its ratings on debt-laden mall owner General Growth Properties Inc. (GGP) and some of its subsidiaries to C, the last stop before default, after the company let a $395 million bond payment pass without a payment earlier this week.
If a company in default (GGP) earns a Moody's "C" you can imagine the true quality of ll their other ratings. Why is this criminal enterprise allowed to continue? Something to do with its largest shareholder perhaps?
GGP is visibly bleeding all over the floor where everyone can see it. I suspect SPG is internally hemoraging.
Rob Dawg Fri Mar 20 10:36:59 2009 CDT #
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CRbot Fri Mar 20 10:39:48 2009 CDT #
NateTG says:
"Goldman was adequately hedged against AIG failure : CFO "
Paulson was the hedge.
NateTG Fri Mar 20 10:40:07 2009 CDT #
wally says:
Who is GGP and what do they own? Here:
http://www.ggp.com/Properties/
wally Fri Mar 20 10:41:44 2009 CDT #
fresno dan says:
When they start taking the malls, they have gone to far! Spend, Pussycat, Spend!!!
fresno dan Fri Mar 20 10:46:15 2009 CDT #
Anonymous says:
BB and Company sense the changing political winds and realize time is running out for them and their agenda.
Anonymous Fri Mar 20 12:18:29 2009 CDT #
Dark Space says:
In addition to the 5pm deadline, GGP defaulted on 3 of it's senior mortgages that were due on 3/1/09 and 4/11/09 (well, they've said they will default on this one). They're maturity defaults, so they're not in the bank's hands yet.
http://thecrereview.blogspot.com/2009/03/ggp-defaults-on-cmbs-loans.html
Dark Space Fri Mar 20 12:20:13 2009 CDT #
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