Tuesday, November 4, 2008

Simon: We're Not Buying GGP

And why should it? Yeah, that's the big rumor. But, just like law firms these days, there's little need to take the whole kit and kaboodle. If GGP cannot get out of its current hole, then Simon can make a much better play: cherry-pick the best assets one way or another. And, at least as far as I know, there is no other player to step in.

Or is there? I have one other thought in mind, one I am going to put into an envelope, and I promise to tell you whether I am right or wrong about it.

Oh, and in the big shock department: GGP's been hit with a class action over the whole loan business. Yes, the plaintiff is represented by Bill Lerach's old firm in San Diego.

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