In the second high-level ousting of a Tribune Co. executive in a matter of days, CEO Randy Michaels will be advised by the board of directors of the company to issue his resignation, the New York Times reports.
The news comes soon after chief innovation officer Lee Abrams stepped down from his Read More
When Chicagoans Speak
We talked to Sam Zell, the grave dancer himself, this afternoon. It was short and sweet, and mostly about a profile The Observer‘s working on. But, Mr. Zell, whose Equity Residential recently bought three apartment buildings in Manhattan, did have this to say about the New York real estate market:
In a 600-page report filed Monday, bankruptcy investigator Kenneth Klee expressed concerns about the late stages of the Tribune Company’s 2007 sale to Sam Zell. The $8.2 billion deal may have left the company too shaky to survive, Mr. Klee found. Mr. Klee’s findings could hamper the company’s attempt to get out of bankruptcy protection, Read More
The Future, the future?
Sam Zell was on CNBC’s Squawk Box yesterday to talk about real estate and the news business. On air Mr. Zell, who is getting ready to face questions from creditors in the Tribune Co.’s bankruptcy trial, said that PDFs are going to save the news business.
“Going forward it’s going to require all Read More
Movers and Shakers
Two years ago, in the months before the fall of Lehman Brothers, when New York’s economic lily was still contentedly gilded, crafting a list of real estate’s biggest machers was pretty easy: Moguls X, Y and Z had done deals A, B and C, and the business of real estate ticked along.
Then came the Read More
Sure, there have been rounds and rounds of layoffs over at the L.A. Times, but that doesn’t mean that some staffers can arrive in style. Right? Well… Read More
At the beginning of a panel entitled “The View From 10,000 Feet,” part of the N.Y.U. Schack Institute of Real Estate’s 15th Annual REIT Symposium on Thursday afternoon, the always outspoken Steve Roth had a question for moderator Robin Panovka.
“Is there press in the room?” asked Mr. Read More
Gnomish Chicago-based billionaire and Tribune company chairman Sam Zell may know piles about New York real estate, but he has a little something to learn about the stuffiness of New York WASP society.
On Jan. 14, Mr. Zell found himself temporarily unable to enter the 147-year-old Union League Club on 37th Street and Park Read More
Sam Zell–the self-proclaimed “grave dancer” with a history of swooping in on the carcasses of struggling businesses–is now picking at the Manhattan real estate market. Yesterday, Mr. Zell’s company Equity Residential fleshed out its plans in Chelsea, which were reported by the Post last month. From today’s Wall Street Read More
Who’s going to build a paywall first? Don’t bet on Sam Zell.
“I’m more than willing to let Rupert take the first sword,” Mr. Zell said on CNBC’s Squawk Box today. “And if it works, then I think everybody’s going to follow him, and should have in the first place.”
Mr. Zell, Read More