I keep pondering today's story (not directly related to BEE) of the increase in value for the Plaza in New York. Anyone have any thoughts on the value of Essex compared to what was paid? The value of the whole company in relation to Orange Capital's $14 estimate?
"Just a year after acquiring a controlling stake in the 280-room New York Plaza hotel for $600 million, Mumbai-based Sahara Group is looking to sell the property as legal and financial issues swirl about the company, the New York Post reports.
Sahara, led by Subrata Roy, has already received one $1.6-billion offer from an unidentified group from the Middle East"
Granted I am not sure if it is an apples to apples comparison.
Well, I hope New Jersey will be a net beneficiary if businesses flee New York to avoid tax increases. I don't live back east, can someone comment if NJ would be an attractive alternative? I think CLI has 4 times more space in NJ than NY.
Interesting, Indian Hotels abandon's purchase we go up. Strange takeover of Bali Hotel, we go up. Did anyone read that SEC filing by Indian Hotels. Did they actually increase there stake?
Well, it is a very nice hotel without a doubt. But not a bargain. I guess perhaps they are thinking that with the new office in the area things will get better. But nice asset, provides diversification so I am not complaining.
Not sure why the sell off. Some sweet compensation package coming down the pike that will dilute things?
I am still scratching my head over that West Harlem loan deal. I don't get it. Why loan the money. What did we get out of it? Some smelly deal and the shareholders don't even get a stinking 1 cent increase in the dividend? Come on. Lets see an increasing dividend.
Always worry with this company. They can always find a way to enrich themselves at the expense of the shareholders.
I agree. I have yet to see a good analysis of the impact of health insurance premiums doubling for young people. Can't be good for night club revenue in Las Vegas.