According to a recent article in the Wall Street Journal, office vacancy rates remain about 17% and rents will remain low nationwide. San Francisco and NYC are notable exceptions. Could it be that the marketplace rather than Portnoy is the problem?
Infinitidriver, you're a company flak. You'd find any excuse to get the Portnoy's off the hook..maybe even hari-hari to make up for their ruinous rein. You are a Portnoy lap dog and show it with every post. If you have some stock you should be happy that Corvex came on the scene, but being the dog that you are..you spend you're time here trying to exonerate the Portnoy pig at every turn. This stock was on the decline because it weas mismanaged for the Portnoy's benefit as said by both analysts and credible shareholder organizations. Tired of your posts supporting avaricious management.And, talk about eating...why don't you sit down on a spoon and stick around for your dinner.
Essential problem was that RMR/Portnoy was constantly rotating the mix so as to be able to create more spin-offs to be managed by RMR (assets under managment). It had nothing to do with maximizing CWH shareholder value. Eventually it was bound to happen that shareholders got left holding the bag with an undervalued sector with this practice.
Of course it also hurt that RMR was not frank about the way things were ('I see no headwinds that would cause us to have a dividend cut.') Old Portnoy got himself sued for that one.
Of course it also hurt that RMR charges excessively for management.
It also hurt that RMR would do unnecessary dilutions so as to get more property under management. We can see it confirmed that the last one was unnecessary because after the takeover offer came in, RMR had no problem in selling securities held by CWH for cash.
It also hurt that RMR confirmed its parasitic attachment to CWH by refusing to consider a buy-out offer that was much higher than the share price and instead issued shares at much less than the buy-out offer.
I could go on. There is a reason that large institutions are happy to vote their shares against RMR.
I used to be a holder but would never invest with Portnoy unless stock was much cheaper. He is in it for management fees. Look at MAA for same div and management who care about shareholders. This will never go anywhere until management is replaced.