Ala Moana Owner Bankruptcy?

[matapule]

Re: Ala Moana Owner Bankruptcy?

Oh yeah? Where's the line for the working class?...

You're right, there isn't any. The working class pays for the $700B bailout for companies that have been mismanaged. My daughter received notice that her company is going to be laying off employees next Thursday because they have lost some key accounts. She is a bit stressed at this time, waiting for Thursday. Where will she stand in line for part of the $700B bailout?

[Geebz]

Re: Ala Moana Owner Bankruptcy?

The whole state needs to be re-marketed for tourism and organic/local products or else there will be nobody to drive on the billion dollar rail system.

But even then, Hawaii will be the last to pull out of the economic spin-out. I think everyone should buy fishing poles!

[cabanalane]

Re: Ala Moana Owner Bankruptcy?

And architects made a mess of things by creating all these odd walkways and ramps. Not as bad as the Winchester Mansion but whoever designed the renovations seems to have been inspired by it.

I love the "old" AMC. The way it used to be with only two floors.

[LikaNui]

Re: Ala Moana Owner Bankruptcy?

And architects made a mess of things by creating all these odd walkways and ramps. Not as bad as the Winchester Mansion but whoever designed the renovations seems to have been inspired by it.

Wow! That's a blast from the past. I haven't been there for a few decades, but it's an amazing place to tour! http://www.winchestermysteryhouse.com/

[Bobinator]

Re: Ala Moana Owner Bankruptcy?

Anyone know what's happening with these guyz? They were suppose to come up with $1B by Dec. 1, 2008, and $3B by next year. The silence is kinda scary. I'd better spend my mall gift card before it's too late.

[Konaguy]

Re: Ala Moana Owner Bankruptcy?

Anyone know what's happening with these guyz? They were suppose to come up with $1B by Dec. 1, 2008, and $3B by next year. The silence is kinda scary. I'd better spend my mall gift card before it's too late.

Google News is your friend.

From the WSJ :

"The likelihood of a bankruptcy filing is looming larger for mall giant General Growth Properties Inc., threatening to overlay the worst retail market in decades with one of the biggest real-estate bankruptcies ever.

Most immediately, the company must extend the payment deadlines of two debts that lenders could call due a few weeks from now: a $2.6 billion credit line and a $900 million mortgage on two Las Vegas malls. At a meeting with lenders in New York on Monday, General Growth senior management and advisers outlined separate scenarios of the company operating under bankruptcy protection or instead grappling with its debt burden outside of bankruptcy court, according to people familiar with the matter."

[Bobinator]

Re: Ala Moana Owner Bankruptcy?

Thanks. Here's the complete article:

http://online.wsj.com/article/SB1231...googlenews_wsj

[Frankie's Market]

Re: Ala Moana Owner Bankruptcy?

The other shoe has finally dropped. GGP has declared for Chap. 11bankruptcy. Ala Moana and Ward will stay open for business as usual. No immediate announcement of any changes as yet for those malls. Guess we'll have to wait and see how the malls are affected after GGP goes through re-organization and re-emerges from bankruptcy protection. And yes, if you haven't already used your Ala Moana/Ward Center gift cards, better do it quick!

http://www.starbulletin.com/business...rotection.html

http://www.honoluluadvertiser.com/ar...904160362/1001

[johmbolaya]

Re: Ala Moana Owner Bankruptcy?

They decided to cater to tourists. Now tourism is way down.

It's been awhile since Ala Moana was "local".

[Kalihiboy]

Re: Ala Moana Owner Bankruptcy?

Didnt the company that previously owned Ala Moana also filed for bankruptcy?

If so, what else is new?

Aj

[Frankie's Market]

Re: Ala Moana Owner Bankruptcy?

Didnt the company that previously owned Ala Moana also filed for bankruptcy?

If so, what else is new?

If you're talking about Daiei, I do not believe they have gone through bankruptcy. But they did have to go through massive downsizing and restructuring in order to cut their losses and become profitable again. In any event, Daiei was not bankrupt at the time they owned AMC.

[integlspwr]

Re: Ala Moana Owner Bankruptcy?

looks like the commercial real estate crash is here.

[joshuatree]

Re: Ala Moana Owner Bankruptcy?

And yes, if you haven't already used your Ala Moana/Ward Center gift cards, better do it quick!

No need to worry there, the gift cards are issued by AE and Discover.

"Gift cards for use at General Growth malls, all of which are issued by American Express or Discover, remain valid and retain their full value, the company said."

http://www.honoluluadvertiser.com/ar...WS01/904170370

[TuNnL]

Re: Ala Moana Owner Bankruptcy?

Well, it looks like retailers aren’t letting General Growth’s bankruptcy affect their willingness to take the plunge.

Ala Moana Center is pleased to announce the addition of seven new stores to its retail lineup — three recently opened and five to debut in coming months. The new retailers will offer shoppers an even larger and more diverse selection of unique apparel, accessories and dining options.

Meanwhile, it is interesting that the same guy who had all his money in CVS® when they purchased Longs Drugs™ is also the same guy moving in on GGP.

Bill Ackman appointed to General Growth board
Mon Jun 8, 2009 8:49am EDT

NEW YORK, June 8 (Reuters) - Bill Ackman, founder of the Pershing Square hedge fund, has joined the board of bankrupt shopping mall operator General Growth Properties Inc (GGWPQ.PK), where he is a large shareholder.

Hmmm, does he know something the rest of us don’t?

[tutusue]

Re: Ala Moana Owner Bankruptcy?

Well, it looks like retailers aren’t letting General Growth’s bankruptcy affect their willingness to take the plunge.[...]

Hmmm...

LEGO will be located next to Victoria's Secret

Guess there won't be much of a problem getting dads, uncles and a few grandpas into LEGO!