General Growth Properties in Trouble

Dundee Neighbor Jean Van Gaston emails in with this update:

Five Stocks That Look Completely Worthless
Matthew Coffina
Wednesday
November 12, 2008, 7:00 am EST

General Growth Properties (NYSE:GGP - News)From the Analyst Report:
"Punch-drunk on easy credit, retail real estate investment trust (REIT) General
Growth Properties is now staggering under the weight of its massive debt load.
Raising capital or finding buyers for its commercial real estate assets may be
difficult in the current credit-constrained environment, so we think it's likely
that General Growth's equity value will fall to $0."

Yikes.

So General Growth's bad decision making is putting our community in jeopardy. It's time our community looks to the future, to smart growth decisions that will never hold us hostage to this kind of incompetence again.

Stabbings at Spring Hill Mall

What is General Growth Properties doing over there? Are they taking care of that property?

It is unbelievable that we are being asked to accept a known crime risk in the form of a 24-hour Supercenter in order to help GGP (the "gem" of our village, apparently) when they can't even keep their supposedly "high-end" mall safe from stabbings.

Geez.

Four Teens Injured

Four Cited For Fighting

Sigh.