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For those who were wondering what sparked that silly press release from GGP...

Written by Reggie Middleton
Tuesday, 22 January 2008
For those who wondered what prompted GGP to issue that silly press release, I point you to Herb Greenberg's article in the WSJ over the weekend. From his blog at Marketwatch.com. One Shopping Mall REIT's Dance with Debt If you missed my piece in the weekend Wall Street Journal about regional mall developer General Growth Properties, you can read it here on MarketWatch. *Herb's Hook:* The company issued a press release Saturday night focusing on its debt issues. Without specifically mentioning my column, it insisted that bankruptcy is not in its future. The release also alluded to "blogs." The only blog I can find that has done an in-depth probe of General Growth is the insightful boombustblog.com by Reggie Middleton. (Have never spoken to him, and have no idea who he is, but a scroll through his archives shows good edginess and an impressive record on credit-related issues.) Add this page to your favorite Social Bookmarking websites Set as favorite Bookmark Email This Hits: 1583 Trackback(0) TrackBack URI for this entry Comments (6) Subscribe to this comment's feed ... written by a, January 22, 2008 GGP up $1.5...fed's rate cut w'd make all these re-financing a lot eaiser...i dont see ur targets to meet (if u r authorized to issue any)...GGP has already warned u...SEC w'd be the next to sack u up... -4 ... written by Reggie Middleton, January 22, 2008 I am not sure what your point is. You don't see targets because there are no targets. This is a blog, not an investment bank or an advisory firm. I post my opinions based upon my research, and I make it clear that I don't give advice. If you want to discuss this, let's discuss it and don't be so cryptic. I think that GGPs press release causes them to be seen negatively. All of my research is borne from info available in the public domain, sans the professional opinions. What GGP should do is show me where I am wrong in lieu of calling blogs and the press irresponsible. +5 CONGRATS ON GETTING NOTICED! written by Jon Pearlstone, January 22, 2008 Reggie just a note to congratulate you on the mention in Herb's blog. You deserve the recognition and I am sure you will see a nice spike in your traffic --guess the secret's out! Don't sweat the comments like the first one on this thread. I have been following blogs in your space for a long time (hey maybe I should become a "blog" analyst!) and every time more news comes out more weasels come out of the woodwork and go crazy when they see positions that they perceive to be harmful to the way they bet. It's probably an indicator, the more shit comments you have to deal with the more successful you are! And I definitely believe you are on the way up (as fast as the market is tanking in fact!) I still wish you would jump on the insurance industry though. I get what your saying about GGP moving even more than AGO, but the insurance industry is in the cross hairs RIGHT NOW--commercial real estate is not as big of a focus, yet there are many insurance companies who have not gotten hurt yet--many of whom are acknowledging losses due to CDO's Ambac, MBIA etc. I just know there will be more shoes dropping, I just wish I was good enough at this analysis stuff to figure out who---BUT YOU ARE--that's why I'm bugging you about it! Incidentally, any comment on that supreme court ruling about 3rd parties being excluded in securities fraud cases that came down last week? I saw further input on this that it would not protect company's like Moody's or other financial cases, but wondered if you had input on this. In any case, you know I am a huge fan so keep bringing the great info. +1 ... written by Reggie Middleton, January 22, 2008 Thanks. I actually follow Herb Greenberg fairly regularly. He is a journalist with an investor's eye. I actually missed his piece last weekend, and found it by searching the net and having someone mention it to me. An example of how that GGP press release is already working against them. I would have never gone through the trouble without reading the release. It is bringing down attention on their problems that they would not have had. A few GGP employees seem to have shown up. I would love for them to answer the questions that I have to clear the air. Hey, I could be wrong, and if I am I will be the first to admit it and post it right here. That is the way you handle Blogs and new media in this day and age. Facts and dialog, not confrontation and inflammatory press releases. +2 ... written by Capital Gain, January 22, 2008 Nice work Reggie. That weasle from GGP made himself look like someone shoved a live snake up his ass. Reminded me of October when that Ambac cadaver was squeeling about how nobody but he could possibly understand his business. He's a chalk outline on the sidewalk now. You only catch flak if you are over the target. +2 ... written by Bill Laird, January 22, 2008 Great job again Reggie. These guys are completely clueless. I just cannot get over that they would even mention a blog as part of a press release. But then again, Elan (ELN) did go after some casual users of the yahoo message boards a few years back - so nothing ceases to amaze me with this type of managerial incompetence. +0 Write comment Name Email Website Title Comment smaller \| bigger Subscribe via email (Registered users only) I have read and agree to the Terms of Usage. Write the displayed characters
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