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John Thomas graduated with a bachelor’s degree in biochemistry with honors and a minor in mathematics from the University of California at Los Angeles (U.C.L.A.) in 1974. He moved to Tokyo, Japan where he was employed by a medium-sized Japanese securities house. Thomas became fluent in Japanese... More
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  • Prologis: It May Actually Survive 0 comments
    Apr 12, 2009 12:10 PM | about stocks: PLD, RWR, VNQ, IYW

    Jeffrey Schwartz, for the former CEO of the global logistics and warehouse firm Prologis (NYSE:PLD) is not looking for a quick recovery of the economy, and sees a lot more pain for his industry. The firm suffered a near death experience last year and was only able to extricate itself with the sale of some Asian assets.  Prologis is the world’s largest developer of commercial warehouse space, and a leading manager of REIT’s. The Denver based company employs 1,500, managing 2,898 properties, totaling 548 million square feet in 115 countries. It had been a highly leveraged call on the growth of international trade, which is now imploding with unprecedented speed. PLD’s growth focus is still on China, where it has 38 million square feet of space, and land commitments to double that. It is investing $1 billion there over the next two years, counting on a government commitment to support the logistics sector. Investors certainly believe it. The stock has roared 57% in the last ten days. The company has announced that it is using the rally to issue new shares to wisely reduce its insanely high levels of debt. This will dilute existing shareholders by 50%, but hey, half of something is better than nothing, isn’t it? www.madhedgefundtrader.com.
     

    Stocks: PLD, RWR, VNQ, IYW
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