PrintMarch 31, 2009
How the mighty have fallen
The Washington Post reports that General Growth Properties, a major shopping mall developer, and owner of such landmark properties a Water Tower Place in Chicago and Tyson's Corner Mall outside DC, is having difficulty meeting its financial obligations, and may go bust.
AT reported over three years ago on General Growth's efforts to escape property tax burdens, noting at the time that NYT pundit Thomas Friedman married into the founding Bucksbaum family.
Of course, he is a best-selling author and public speaker in his own right, so he will never go hungry or experience anything ordinary Americans would consider financial distress.
His in-laws have our sympathy now, as do the members of the Sulzberger family, who control his employer. We brook no schadenfreude here.
Both families formerly billionaires; now probably not so much. That has got to be tough. Hang in there!
Cliff Thier adds:
I guess it's his wallet that's flatter now. He'll just have to bump into some tech executive from Bangalore at an airport in London on his way to Cape Town to explain it all to him.
Cliff Thier adds:
I guess it's his wallet that's flatter now. He'll just have to bump into some tech executive from Bangalore at an airport in London on his way to Cape Town to explain it all to him.
"Tom, your wallet isn't the wallet you used to know. It's so much more now. You can't use the old methods of looking at a wallet anymore. You know the leather was cured in Ireland, but the cow (originally from Poland) was killed in Bhutan . . . "
To comment on this or any other American Thinker article or blog, you must be a subscriber to our ad-free service. Login to your subscription to access the comments section. You can subscribe on a monthly basis for $6.79 a month or for a year at $69.99
Login
Subscribe / Change PwdAd Free / Commenting Login
FOLLOW US ON
Recent Articles
- The Danes and the Greenlanders: How They See Trump's America
- The USAID Case: Judge Amir Ali’s $2 Billion Defiance Escalates
- Terrifying Tariffs: Tax Policy as Back-Door Foreign Aid
- Dr. Marty Makary’s ‘Blind Spots’ Book Is At Odds With Established Findings
- Reforming the Kennedy Center
- Is ActBlue a Criminal Enterprise?
- America’s New Tough Love Foreign Policy
- Democrats Stand for Ukraine but Sit for America
- A Friend for Trump in Italy
- Trump’s Digital Fort Knox: Bitcoin, the Dollar, and America’s Financial Future
Blog Posts
- After blowing $9 billion on 'free' health care for illegals, California's Gov. Gavin Newsom asks for a bailout
- Trump throws down the gauntlet to the out-of-control federal district court judges *UPDATED*
- Ronald Reagan also had a slow economic start
- Getting the left out of the political wilderness
- Oregon selects a trans-turtle and a trans-meteor to sit on a ‘mental health advisory board’
- Fly the DEI skies...and hope that you land safely
- This 70-year-old woman is serving 9 years in prison
- Stacey Abrams really, really, wants 'her' $2 billion from Biden's EPA slush fund
- The (un)masked magician’s apprentice
- Schumer’s attempted shutdown will backfire bigly
- The Democrats are so passionate ...
- Biden and the U.S. Steel case
- Jay Bhattacharya's promise on vaccine safety
- MAGA moon over Greenland?
- Trump must designate the Muslim Brotherhood a terrorist organization