Mai 17-4...VNI giảm 11 điểm...cuộc tháo chạy trước tháng 5 bắt đầu....

buiduclong4 · 16/04/2009, 21:41

Em ngửi thấy dòng tiền chuyển sang BĐS...

ss33 · 16/04/2009, 21:43

strade;1 said:

Khả năng lần này cụ Tz đã phán đúng.
Click to expand...

Daọ này "cô" không thương TZ hay sao ấy, phán sai be bét cả.

luzter · 16/04/2009, 21:43

Linda_Kieu;1 said:

General Growth Files Biggest U.S. Property Bankruptcy (Update1)
Share | Email | Print | A A A

By Daniel Taub and Brian Louis

April 16 (Bloomberg) -- General Growth Properties Inc. filed the biggest real estate bankruptcy in U.S. history after amassing $27 billion in debt during an acquisition spree that turned it into the second-largest shopping mall owner.

The owner of Boston?Ts Faneuil Hall and the South Street Seaport in New York City ended a seven-month effort today to refinance its debt. The company listed $29.5 billion in assets and debts of about $27.3 billion in the Chapter 11 filing. General Growth will continue operating its more than 200 properties.

?oWe intend to emerge as a leaner company,? General Growth President Thomas Nolan said in an interview today. ?oWe want to come out as a less leveraged company. Our business model remains strong.?

General Growth collapsed after spending $11.3 billion to buy commercial-property developer Rouse Co. in 2004 only to get caught in the credit crunch and a U.S. recession that has cut spending and property values. Banks have reduced lending amid mortgage-related writedowns. Commercial real estate prices in the U.S. dropped 15 percent last year, according to Moody?Ts Investors Service. Retail sales in the U.S. unexpectedly fell in March as soaring job losses forced consumers to pull back.

The filing lists Eurohypo AG, a unit of Commerzbank AG, as General Growth?Ts largest unsecured creditor with claims totaling $2.59 billion under two loans. Noteholders are owed about $4 billion.

Simon Gains?

The bankruptcy may remake the nation?Ts mall business and allow General Growth competitors including Simon Property Group Inc. to buy properties and strengthen its position as the No. 1 mall owner, said Dan Fasulo, managing director at real estate research firm Real Capital Analytics.

?oI think Simon?Ts going to be able to pick up some of these assets on the cheap,? Fasulo said in an interview.

General Growth?Ts filing is the ?obeginning of the distress cyclê? and may lead other companies to fail.

?oThis is kind of the beginning of the end,? Fasulo said. ?oThis bankruptcy will drive down the values of mall assets in the United States. It?Ts going to put, I believe, more supply on the market than can be absorbed by investors.?

In an interview with Bloomberg Television, Nolan said: ?oWê?Tre not looking for wholesale sales of assets. It?Ts possible we could choose some to be non-strategic going forward.?

Hedge fund manager William Ackman?Ts Pershing Square Pershing Square Capital Management LP will provide General Growth with $375 million in financing to help run the company during the Chapter 11 process, today?Ts statement said. Ackman is likely to play a key role in the reorganization since Pershing is the third-largest shareholder, according to Bloomberg data.

Rouse Deal

Much of the company?Ts debt can be traced to its purchase of Rouse Co. in 2004, which owned malls including South Street Seaport. As Chicago-based General Growth struggled to meet debt deadlines, it lost 81 percent of its market value in the last six months after saying repeatedly it may have to file for bankruptcy.

Nolan said General Growth, the largest mall owner after Simon Property Group Inc., was a victim of ?oa broken capital market.? No one could have predicted the severity of e ?othe credit markets shutting down,? he said.

The company plans to file a reorganization plan by the end of the year, he said.

Rouse and 165 units were included in the bankruptcy filing. General Growth said several properties that are part of joint ventures weren?Tt included.

?~Disaster?T

The company on March 23 said that a deadline for bondholders to agree to new terms for $2.25 billion in debt expired without the minimum number of holders accepting the agreement. General Growth said on March 30 it was continuing to negotiate with creditors.

?oIt was a disaster waiting to happen,? said Patrick Sumner, head of real estate securities at Henderson Global Investors in London. ?oThey didn?Tt realize the market was going to get like this and that they were going to be in the front line when the guns went off.? Henderson doesn?Tt own General Growth shares.

Standard & Poor?Ts in November removed General Growth from the S&P 500 Index, saying the mall owner?Ts stock-market value of about $128 million at the time ranked it last in the index.

Two weeks later, Ackman?Ts bought a 20 percent interest through shares and swaps. The hedge-fund manager has since boosted its General Growth stake.

Family Control

General Growth?Ts history stretches back to 1954, when brothers Matthew and Martin Bucksbaum expanded their family?Ts grocery business by building the Town and Country Center in Cedar Rapids, Iowa, one of the Midwest?Ts first regional shopping malls. General Growth became the No. 2 U.S. mall owner in 1989 when it bought the assets of Center Cos., and in 1993 raised about $300 million in an initial public offering.

For the first time in its history, General Growth in October was turned over to someone outside the family when it replaced CEO John Bucksbaum, Matthew?Ts son, with 47-year-old Metz. John Bucksbaum, 52, replaced his father as chairman last year, and remains in that position. Martin Bucksbaum died in 1995.

John Bucksbaum?Ts removal as CEO followed the October departure of Chief Financial Officer Bernard Freibaum after he sold 2.95 million shares to meet margin calls. An affiliate of a Bucksbaum family trust had loaned Freibaum $90 million to pay margin debt. Bucksbaum?Ts failure to disclose the loan violated company policy, a review by General Growth?Ts independent directors found.

?~Too Much Debt?T

Marcia Goldstein of Weil Gotshal & Manges LLP and James Sprayregen of Kirkland & Ellis LLP will represent General Growth in bankruptcy. The company also hired turnaround firm AlixPartners LLP and investment bank Miller Buckfire & Co.

General Growth closed at $1.05 in New York Stock Exchange composite trading yesterday, valuing the company at $329 million. The shares traded as high as $67 in March 2007.

?oGeneral Group has long been the poster child of too much debt,? said Rich Moore, a managing director at RBC Capital Markets in Solon, Ohio. ?oTherê?Ts finally been some comeuppance for having too much debt. I think that?Ts the key point to take home for the other guys.?

The case is: In re General Growth Properties Inc., 09- 11977, U.S. Bankruptcy Court, Southern District of New York. It was assigned to U.S. Bankruptcy Judge Allan Gropper.

To contact the reporters on this story: Daniel Taub in Los Angeles at [email protected]; Brian Louis in Chicago at [email protected].

Last Updated: April 16, 2009 10:08 EDT
Click to expand...

e lông dân chã hĩu cái 'êk giề

stock4u · 16/04/2009, 21:43

Ngày mai có vẻ ko hợp thời cho lắm...

Aries81 · 16/04/2009, 21:44

Le_Vu · 16/04/2009, 21:44

Theo em, đích đến của Vnindex sẽ là 300 trước 30 /4! Chúng ta đừng để tự doanh của cty CK, ngân hàng đổ vỏ lên đầu chúng ta!

chinhpd · 16/04/2009, 21:44

DJ tin tốt xấu lẫn lộn đang chiến đầu giành giật nhau từng tý
Cả 2 phe Up và Down đang bất phân thắng bại

giaosucan · 16/04/2009, 21:44

soros2000;1 said:

em sợ bác quá bác tazan ạ, có mấy cái tin xấu sắp hết rồi thì sang tuần bác hô kiểu gì....mà tuần sau mới là báo cáo bác ạ
Hoặc là bác rất có tâm ( mà cái đấy thì ít)
Hoặc là bác ghen ăn tức ở....hố hố........bác ơi mời bác ngắm
Click to expand...

Đúng rồi đấy
Ông cầm tiền thì lúc nào chả mong xuống để mua đc giá rẻ
Ông cầm cổ thì ông nào chả mong lên để kiếm lãi.

Có ai thừa cơm đi lo cho thiên hạ đâu.

anhhangxom · 16/04/2009, 21:45

hế hế ai cũng đoán khả năng mai sẽ giảm .............và rút hàng hôm nay khá nhiều.
Ngay cả em chuyên gia linđơ cũng dự đoán thế........
Nhưng đêm nay thằng mỹ nó thăng từ DJ, NASDAQ, S&P500 mỗi thằng đều tăng trên 2%............ sau khi cứ nhì nhằng dập dìu tăng giảm đầu phiên

saolinh80 · 16/04/2009, 21:46

sáng mai 20tr dư mua STB giá Ce cho bên mua

Mai 17-4...VNI giảm 11 điểm...cuộc tháo chạy trước tháng 5 bắt đầu....

buiduclong4 Thành viên gắn bó với f319.com

ss33 Thành viên quen thuộc

luzter Thành viên rất tích cực

stock4u Thành viên rất tích cực

Aries81 Thành viên quen thuộc

Le_Vu Thành viên mới

chinhpd Thành viên này đang bị tạm khóa Đang bị khóa Not Official

giaosucan Thành viên rất tích cực

anhhangxom Thành viên này đang bị tạm khóa Đang bị khóa

saolinh80 Thành viên rất tích cực

Chủ đề cùng chuyên mục

Share This Page