Bill Ackman

Next thing you know, I'm invited to on the board of the company and the board is talking about The old equity of general growth. Old equity is what you talk about the shareholders are getting wiped out. I said, no, no, no. This board represents the current equity of the company. And I'm a major shareholder. John's a major shareholder. There's plenty of asset value here.

Next thing you know, I'm invited to on the board of the company and the board is talking about The old equity of general growth. Old equity is what you talk about the shareholders are getting wiped out. I said, no, no, no. This board represents the current equity of the company. And I'm a major shareholder. John's a major shareholder. There's plenty of asset value here.

Next thing you know, I'm invited to on the board of the company and the board is talking about The old equity of general growth. Old equity is what you talk about the shareholders are getting wiped out. I said, no, no, no. This board represents the current equity of the company. And I'm a major shareholder. John's a major shareholder. There's plenty of asset value here.

This company should be able to be restructured for the benefit of shareholders. And we led a restructuring for the benefit of shareholders. And it took, let's say, eight months. And the company emerged from chapter 11. We made an incremental investment into the company. And the shareholders kept the vast majority of their investment.

This company should be able to be restructured for the benefit of shareholders. And we led a restructuring for the benefit of shareholders. And it took, let's say, eight months. And the company emerged from chapter 11. We made an incremental investment into the company. And the shareholders kept the vast majority of their investment.

This company should be able to be restructured for the benefit of shareholders. And we led a restructuring for the benefit of shareholders. And it took, let's say, eight months. And the company emerged from chapter 11. We made an incremental investment into the company. And the shareholders kept the vast majority of their investment.

All the creditors got their face amount of their investment, par plus accrued interest. And it was a great outcome. All the employees kept their jobs. The mall stayed open. There was no liquidation. The bankruptcy system worked the way it should. I was in court all the time.

All the creditors got their face amount of their investment, par plus accrued interest. And it was a great outcome. All the employees kept their jobs. The mall stayed open. There was no liquidation. The bankruptcy system worked the way it should. I was in court all the time.

All the creditors got their face amount of their investment, par plus accrued interest. And it was a great outcome. All the employees kept their jobs. The mall stayed open. There was no liquidation. The bankruptcy system worked the way it should. I was in court all the time.

And the first meeting with the judge, the judge was like, look, this would never have happened were it not for a financial crisis. And once the judge said, I knew we were going to be fine because the company had really not done anything fundamentally wrong, maybe a little too aggressive in how they borrowed money. And stock went from 34 cents to $31 a share. And actually fun little anecdote.

And the first meeting with the judge, the judge was like, look, this would never have happened were it not for a financial crisis. And once the judge said, I knew we were going to be fine because the company had really not done anything fundamentally wrong, maybe a little too aggressive in how they borrowed money. And stock went from 34 cents to $31 a share. And actually fun little anecdote.

And the first meeting with the judge, the judge was like, look, this would never have happened were it not for a financial crisis. And once the judge said, I knew we were going to be fine because the company had really not done anything fundamentally wrong, maybe a little too aggressive in how they borrowed money. And stock went from 34 cents to $31 a share. And actually fun little anecdote.

We made a lot of people, a lot of money who followed us into it. I got a lot of nice thank you notes, which you get on occasion in this business, believe it or not. And then one day I get a voicemail. This is when there was something called voicemail, probably a few years later. And it's a guy with a very thick Jamaican accent leaving a message for Bill Ackman.

We made a lot of people, a lot of money who followed us into it. I got a lot of nice thank you notes, which you get on occasion in this business, believe it or not. And then one day I get a voicemail. This is when there was something called voicemail, probably a few years later. And it's a guy with a very thick Jamaican accent leaving a message for Bill Ackman.

We made a lot of people, a lot of money who followed us into it. I got a lot of nice thank you notes, which you get on occasion in this business, believe it or not. And then one day I get a voicemail. This is when there was something called voicemail, probably a few years later. And it's a guy with a very thick Jamaican accent leaving a message for Bill Ackman.

So, you know, I return all my calls, call the guy back. He's like, hi, it's Bill Ackman. I'm just returning your call. He's like, oh, Mr. Ackman, thank you so much for calling me. I said, oh, how can I help? He says, I wanted to thank you. I said, what do you mean? He said, I saw you on CNBC a couple of years ago and you were talking about this general growth and the stock.

So, you know, I return all my calls, call the guy back. He's like, hi, it's Bill Ackman. I'm just returning your call. He's like, oh, Mr. Ackman, thank you so much for calling me. I said, oh, how can I help? He says, I wanted to thank you. I said, what do you mean? He said, I saw you on CNBC a couple of years ago and you were talking about this general growth and the stock.

So, you know, I return all my calls, call the guy back. He's like, hi, it's Bill Ackman. I'm just returning your call. He's like, oh, Mr. Ackman, thank you so much for calling me. I said, oh, how can I help? He says, I wanted to thank you. I said, what do you mean? He said, I saw you on CNBC a couple of years ago and you were talking about this general growth and the stock.

I said, where was the stock at the time? He said, it's 60 cents or something like this. And I bought a lot of stock. And I'm like, well, how much did you invest? Oh, I invest all of my money. And he was a New York city taxi driver and he invested like $50,000 or something like this at 60 cents a share.

I said, where was the stock at the time? He said, it's 60 cents or something like this. And I bought a lot of stock. And I'm like, well, how much did you invest? Oh, I invest all of my money. And he was a New York city taxi driver and he invested like $50,000 or something like this at 60 cents a share.