Roger C. Wren

Banks Run Out of Options in General Growth Properties

Such warrants would indeed dilute the present shareholders. The devil , of course, is in the details. Two dollar warrants would dilute and hurt shareholders. 15 dollar warrants would offer possible value to debt holders in addition to repayment of the debt but would not worry present shareholders to any great degree.

Commercial Mortgage Servicers Extending Maturities: Big News for General Growth

It sounds like a sensible solution for a serious and growing problem. I imagine a whole flock of lawyers will bill big-time hours in bankruptcies fighting it but an impartial judge would see the logic of it. The General Growth bankruptcy may be the first major test since this is the basic plan of William Ackman, who controls about 25 percent of the stock and now is on the General Growth board.

Disclosure - I am long GGWPQ stock.