35 Burst results for "Simon Property"
Simon Property, Taubman Agree to Revise Merger Deal
"The commercial real estate World Simon Property Group in Taubman Centers. Say they've reworked their merger deal, which was first announced earlier this year, just weeks before the Corona virus pandemic shut down the retail and other sectors of the economy. This new deal includes about an $800 million price cut for Taliban, which, by the way, owns the Beverly Center, among other properties.
US Bankruptcy Court Approves Sale of JC Penney
"The road back J. C. Penney is on track to emerge from bankruptcy by Thanksgiving now. That a court has approved. It sailed to Brookfield Asset Management and Simon Property Group, two of the nation's largest mall owners. Be seized area Aldinger, This is ABC News
US bankruptcy court approves sale of J.C. Penney
"Store chain is exiting bankruptcy sooner than expected. Now that the bankruptcy court has approved the sale of J C penny to its landlord's, it could be out of bankruptcy by Thanksgiving, Brookfield Asset Management and Simon Property Group are buying the department store chain. Penny filed for Chapter 11 bankruptcy in May and plans to permanently closed nearly a third of its stores. In the next two years as part of its restructuring. The change will leave 600 stores remaining CEO Jill Salt. How says the company's goal from the beginning has been to ensure that J. C Penny will continue to serve customers for decades to come. GeneCo's
U.S. bankruptcy court approves sale of J.C. Penney
"A bankruptcy court agreement has breathed new life into J. C. Penney stores the legacy retail chain is on track to emerge from bankruptcy by thanksgiving after a Texas court approved a purchase agreement involving J. C. Penney's two largest landlords Simon property group and Brookfield asset management along with its primary lenders about a third of the stores will close in a restructuring phase leaving six hundred locations still standing if the deal hadn't gone through this month the company would have had to go out of business but J. C. Penney still faces an uphill battle many people are staying home because of the pandemic and they're shopping online at discount stores hi Jackie Quinn
Mall owner CBL Properties files for bankruptcy
"And Pennsylvania Real Estate Investment Trust have both filed for bankruptcy protection as retailers were forced to shut down for several months during the pandemic. CBL owns 107 properties in 26 States, while the latter is the largest mall owner in Pennsylvania in malls have been stung by rising retail bankruptcies over the past several months. The nation's largest mall owner, Simon Property Group has taken advantage of the climate. By acquiring several chains out of bankruptcy, including J. C Penny Brooks Brothers and Lucky Brand. Clorox has been called
Mall Owners Simon and Brookfield to Rescue J.C. Penney
"C. Penny will stay open the retailer announcing today that it has struck a tentative deal with mall owners, Simon Property Group and Brookfield Property Partners, and that will save more than 600 stores from liquidation. J. C. Penney filed for Chapter 11 bankruptcy in May, after the pandemic worsened its struggles that it had been dealing with. If this deal goes through, the new owners will expect to take on about $500 million in debt at Home
Mall owners close to buying JC Penney out of bankruptcy
"Between shopping mall owners Simon Property Group and Brookfield Property Partners and lawyers for J. C. Penney. The tentative plan to buy the ailing department store chain and save some 70,000 jobs was announced during a bankruptcy hearing. The 118 year old pennies filed for bankruptcy protection in mid May after pandemic related closers crushed the already struggling retail firm. I'm Jackie Quinn. Google's new
Mall owners close to buying JC Penney out of bankruptcy
"A plan in the works to try to save the remaining J. C. Penney stores. The deal is being negotiated between shopping mall owners Simon Property Group and Brookfield Property Partners and lawyers for J. C. Penney. The tentative plan to buy the ailing department store chain and save some 70,000 jobs was announced during a bankruptcy hearing. The 118 year old pennies filed for bankruptcy protection in mid May after pandemic related closers crushed the already struggling retail firm. Fine Jackie
Mall owners Simon and Brookfield to rescue J.C. Penney
"To a Vegas shopping mall owner Stepping in to help J. C. Penney. Out of bankruptcy Carol, the business analyst, David Johnson, saying Plain obeys Penny has deals with companies that own hundreds of malls across the country. In essence, they have reached a tentative rescue deal with their landlord, Simon Property Group in Brookfield Property Partners. They've got a couple of billion dollars coming to him. From Wells Fargo and the name J. C. Penney. You may just be around for a
Mall owners close to buying JC Penney out of bankruptcy
"There's a plan in the works to try to save the remaining J. C. Penney stores the deal is being negotiated between shopping mall owner Simon property group and Brookfield property partners and lawyers for J. C. Penney the tentative plan to buy the ailing department store chain and save some seventy thousand jobs was announced during a bankruptcy hearing the one hundred eighteen year old panties filed for bankruptcy protection in mid may after pandemic related closures crush the already struggling retail firm hi Jackie Quinn
Landlords Strike Deal to Acquire Bankrupt J.C. Penney
"Soon be its bosses. Mall owners, Simon Property and Brookfield property are teaming up with pennies. Lenders to buy the bankrupt department store chain. A lawyer for J. C. Penney says the deal will save about 70,000 jobs. Video game sales have
J.C. Penney Landlords Nearing Deal to Buy Bankrupt Retailer
"A couple of mall owners air close to a deal to buy Penny out of bankruptcy. The Wall Street Journal says Simon Property group and book Field Partners are making a bid. Other bidders still have time to make an offer. To the bankruptcy court. Simon has also agreed to by Brooks Brothers out of bankruptcy with a partner authentic
Brooks Brothers Poised to Be Acquired by Authentic Brands-Simon Venture
"Brothers Group is on the verge of being sold to a partnership that includes the new owner of Barney's New York on one of the biggest U. S. Mall operators. That partnership with authentic Brands Group and Simon Property Group is expected to be the winning bidder. Bloomberg reports Authentic and Simon had previously disclosed they were bidding $305 million for Brooks Brothers. The sale would save at least 125 of the men's clothing
Amazon to Turn Malls Into Fulfillment Centers?
"Amazon wants to literally take over malls. How exposed to China is apple. At the moment. Apple is literally doing legal battle with a pair an APP to help guide you on your psychedelic trips and why would personally be in the market for a foldable E. INC notebook. Here's what you missed today in the world of Tech. Are Telling The Wall Street Journal that Simon Property the biggest owner of malls in the United States has explored turning anchor stores previously occupied by department stores into fulfillment centers for Amazon, quote, the talks have focused on converting stores formerly or currently occupied by JC Penney and sears. The People said, the department store chains have both filed for chapter eleven, bankruptcy protection, and as part of their plans have been closing dozens of stores across the country. Simon. Malls have sixty three. Three. Penny and eleven, sears stores according to its most recent public filing in May for Amazon deal with Simon, would be consistent with its efforts to add more distribution hubs near residential areas to speed up the crucial last mile delivery. But for Simon, any deal to surrender prime space to Amazon would signal a break from a longtime business model for malls reliance on a large department store to draw foot traffic to neighboring shops and restaurants. Amazon, fulfillment centers wouldn't draw much. Foot traffic to them all though some employees could eat and shop at the mall. That's why landlords have preferred to replace department stores with other retailers, gyms, theaters, or entertainment operators. Yet, many of these tenants are struggling to survive during the pandemic and aren't in expansion mode and quote. Why not turn, them into hybrid fulfillment center. Slash pick-up center. Showroom spaces. Although as at epicurious deal said on twitter quote, interesting thought, but making malls originally designed to accommodate large inbound freight flows. But outsource last mile collection to consumers will require substantial costly outbound logistics infrastructure redesign. For example, malls have the parking lot real estate, but they don't have adequate outbound loading facilities most maybe all mall architecture is designed to capture and retain consumers. Distribution centers are designed to maximize throughput velocity and minimize goods dwell time. These design objectives are in a word incompatible and quote.
Amazon Reportedly Wants to Use Sears and J.C. Penney Stores as Fulfillment Centers
"Are Telling The Wall Street Journal that Simon Property the biggest owner of malls in the United States has explored turning anchor stores previously occupied by department stores into fulfillment centers for Amazon, quote, the talks have focused on converting stores formerly or currently occupied by JC Penney and sears. The People said, the department store chains have both filed for chapter eleven, bankruptcy protection, and as part of their plans have been closing dozens of stores across the country. Simon. Malls have sixty three. Three. Penny and eleven, sears stores according to its most recent public filing in May for Amazon deal with Simon, would be consistent with its efforts to add more distribution hubs near residential areas to speed up the crucial last mile delivery. But for Simon, any deal to surrender prime space to Amazon would signal a break from a longtime business model for malls reliance on a large department store to draw foot traffic to neighboring shops and restaurants. Amazon, fulfillment centers wouldn't draw much. Foot traffic to them all though some employees could eat and shop at the mall. That's why landlords have preferred to replace department stores with other retailers, gyms, theaters, or entertainment operators. Yet, many of these tenants are struggling to survive during the pandemic and aren't in expansion mode and quote. Why not turn, them into hybrid fulfillment center. Slash pick-up center. Showroom spaces. Although as at epicurious deal said on twitter quote, interesting thought, but making malls originally designed to accommodate large inbound freight flows. But outsource last mile collection to consumers will require substantial costly outbound logistics infrastructure redesign. For example, malls have the parking lot real estate, but they don't have adequate outbound loading facilities most maybe all mall architecture is designed to capture and retain consumers. Distribution centers are designed to maximize throughput velocity and minimize goods dwell time. These design objectives are in a word incompatible and quote.
"simon property" Discussed on KTRH
"This's Houston's morning news. It is a 609 here in Houston's more news. I might have heard this story at least a little bit of it during the course of your newscast. I can't recall it off my head because I haven't had enough coffee of this morning, Sheriff. Did you have a story about Amazon wanting to turn Sears and J. C. Penney's into fulfillment centers? I did not. Yeah, well, Courtney had that too, right? This is the Wall Street Journal is reporting on this Simon property group is who they're talking with about this, and there's well, here's the thing. There's plenty of Sears stores and J. C. Penney stores. To go into, but that would be interesting. I mean, not that Texas. Well, that's all across the country across the country, turning these empty stores in the fulfillment centers except the one over here Nearest to us Nearest downtown. The old old Sears has already been repurposed by the city run account. I think they're just looking for the mall environment is a way to attract people to come out to the mall. Some of these moles that air struck. Oh, so now they're going to become big box stores. We exactly right, So you will go there you go there to pick the pick of yours. Chris and hopefully you would patronize some of the other businesses who are there. That would be the idea behind it. Now to me, That's goodbye to Mom and pop. I don't know that. Well, here's the thing, though. Would you even do that? Because the key to Amazon's they delivered right to your door, you know? It seems to me that that's that's the main thing About of that kind of service is that comes right to your door versus you having to go somewhere into picking up. I'm highly suspicious of anybody like an Amazon ever wanted to do anything to help the survival of mom and pop. Well, Sears and Jason come or they're competent competition, you know? Yeah, well, at least I wouldn't mind seeing them going empty Sears and stores Because Lord knows there's plenty of those. I'd rather I have a vacant building. 6 11 time for traffic.
Big Landlord in Talks to Put Amazon Warehouses in Malls
"The largest mall owner in the country, wants to turn spaces vacated by Sears and J. C. Penney. Into Amazon fulfillment centers, The Wall Street Journal reporting that Simon Property Group's been in talks with Amazon, exploring that idea and was on typical uses fulfillment warehouses to store everything from books to electronics until delivery to a local
Brooks Brothers Bankruptcy: Nostalgia, Anger, and a Bidding War
"The abandonment of the suit helps explain the struggles of one of America's most iconic fashion companies, brooks brothers, the two hundred two year old brand filed for bankruptcy protection on July eight sure blame cove nineteen, but now you'd be wrong. Suits with the three piece with Thai or skirts and high heels used to convey professionalism and competence, they served as symbols that you took your job seriously and respected your customers, the ones you were treating too expensive lunches, madman style, but even before the pandemic they'd become something of an anachronism. Most of us now see little to no relationship between the way we dress in our competence at work, think Mark Zuckerberg's hoodies. Indeed expensive suits can be viewed as a sign of elitism. Put it starkly. The corporate fashion code has gone by the wayside. Brooks brothers struggles represent a cultural shift, not just a Kobe tragedy. Brooks brothers famously dressed all but four presidents. It is the longest continuously operating fashion business in America and until this month it boasted about making its products in America the Brandon's three factories in the states in Massachusetts North, Carolina and New York. CEO Claude Delvecchio is planning to close those factories. We'll get to that in a minute. As you know, apparel sales have been decimated by pandemic closures in April nobody bought clothes whether from Brooks brothers or JC, Penney and other retail casualty, but did you know the actual numbers? Clothing sales fell almost ninety percent in April, according to retail dive, but brooks brothers began looking for a buyer about a year ago. The company operates five hundred stores two hundred of them in the US sales have been flat at about a billion dollars a year since twenty, seventeen, prior to the pandemic bankers estimated the company's value at three hundred to three hundred fifty million dollars. Figure Delvecchio disputed. As, I mentioned the company intends to close its three US factories later this month in the gritty industrial town of. Massachusetts home of its largest factory. Its largest immigrant workforce is being denied severance pay many of those workers, immigrants and refugees women from the Dominican Republic. Vietnam Burma and Nepal have made the company's fine clothing for years so far brooks isn't budging. Despite pleas from the union, and from members of Congress according to the Boston Globe in North Carolina, the factories, the only large employer in the little town of Garland closure would affect that town forever, mayor winifred. Hill, Murphy told The New York Times. In response, CEO, Del Vecchio, says for survival. We must hang onto as much cash as possible, but the globe reports that its chapter eleven filing includes plans to give compensation benefits, severance and bonuses totaling millions to other workers. Brooks brothers will transform, but unlike many of its retail brethren its survival is not in question. In fact, at least one bidder for the company believes it can earn annual revenue of three billion dollars within five years more than triple its current sales, so many buyers are vying for the brand at both the Wall Street Journal and Bloomberg used the phrase the races on those making bids. Bids Include Mall Company Simon, property, group, authentic brands, group and W. H. P. Global another bidder is a group of Italian. Investors led by a company called GIO which typically helps fashion companies improve their online presences. The Wall Street Journal possibly with tongue firmly in cheek, considering the state cut of Brooks brothers clothing says Julia wants to quote introduced some European flair to the quintessential American brand. Julia's clients include Armani Maxmara and other designers. Brooks brothers is accepting bids through August fifth, so brooks will survive, but what about it's cheaper? Rival men's warehouse tailored brands which owns men's warehouse and the more upscale Joseph. A. Bank plans to close at least a third of its fifteen hundred stores. It said this month it hasn't filed for chapter eleven protection, but it came close according to CNN. That threat remains even after it stores reopened. Sales have been falling. They were down about eighty percent at Joseph A. Bank in the first week of June, as we all continue to do business in Pajama Pants as we all know nostalgia sells Joseph A. Bank doesn't have nearly the name or the history of Brooks brothers, which drips with nostalgia. Teddy Roosevelt apparently insisted his rough riders. Riders wear the Brand Abe. Lincoln was also a brooks brothers customer, one reason for the bidding war beyond what is sure to be the lowest price anyone ever imagined for the stalwart brand. Is What author Lisa Burn? Bach believes about Fashions Post. Pandemic Future Birnbaum who authored the twenty ten book true. Prep argues that the company must be saved after the pandemic finally end, she writes. There will be weddings. There will be funerals. There will be. We hope live operas and theatre and premieres in concerts and fancy dress parties. Where we can't predict the future, but we can observe the present, and what's happening to upscale apparel in the US. WHO's buying it and WHO's making it. Reveals a lot about our rapidly changing an enormously conflicted culture.
Brooks Brothers files for bankruptcy
"You having a bad day. Every retailer in America. Absolutely. Tell me more. Let's talk about the list of bankruptcies. Since the last time you and I talked I Lucky Jeans G Star Rob Off Though Brooks Brothers chapter eleven. This was not a surprise. They have been struggling for a little while now, but I wanted to delve into this company just a little bit because it's an American brand. We have very few brands that are made in the USA. Have such a big heritage. They are two hundred and two years old for our country. That's pretty big deal. Nothing lasts for two hundred two years. Right that's almost as old as the Dang country. They filed for chapter eleven with plans to permanently close fifty one stores. There are a number of companies that are interested in possibly buying the company including Simon Property Group, Simon Property Group is interested. They are the company that owns all those malls. And the crazy thing about this is they just sued brooks brothers a few weeks ago and then dropped the suit for not paying the rent for not paying their rent. They took him to court for almost nine million dollars in unpaid rent, and then they dropped it and I'm guessing. They dropped it because they realized that this was about. Come around the corner, right? They have been slowly closing stores over the past two years and two thousand eighteen. They had nearly seven hundred stores globally now they have five hundred. They're saying of course because PAT stomach, but the truth is pants off changed over the past few years. Literal Pants think of all those Khakis who's wearing them anymore like the static for what you wear to work has changed really in the past decade, and they have stayed the same brand, which in many ways as good because they have a visual heritage and history. Eh, with apparel. They dressed Abraham Lincoln. They've dressed many many presidents. They also have. A history that I was just made aware of this week. I don't know if you know about this. Lisa but I did some research because I got a tip from friends that Brooks Brothers has a complicated history with slavery. This is not something that they talk about so there's not a lot of information out there on it, but I did find an article from Smithsonian magazine that said quote Brooks Brothers was the top of the line slave clothing slave traders would issue new clothes for people. They had to sell, but they were usually cheaper. Ooh, that is complex. I did not know this part of their at all. Do they ever like apologize for that? They don't talk about it. Because if you don't talk about, it never happened right. Wow, but they made the clothes said. They've made their clothes in the United States, but this past May. They started shutting down some of their factories, their factories New, York north, Carolina and Massachusetts were all starting to slowly closed down so. People knew that they were going to maybe off. Start off shoring some of their apparel, but it was in limbo. What was going on with the company and they really weren't saying anything yet, but the writing was on the wall less than an hour ago. Bloomberg reported that authentic brands group put a bid in for the company. Authentic brands. Group owns a bunch of brands including barneys. New York forever twenty one fredericks of Hollywood nine West Jones New York, juicy couture and sports illustrated. That's all over the
"simon property" Discussed on MarketFoolery
"Get in there in play. Some type of arbitrage value value realization your. Simon Property Group, which is the biggest mall operator in America is looking into buying JC penney to do. This property would team up with Brookfield property partners and This is a partnership that Simon has undertaken in the past Jason. Did it earlier this year when the two teamed up to buy forever twenty one. You go back a few years. They teamed up to buy Aeropostale. I will hasten to point out that both Simon Property and Brookfield property partners both those stocks down in the neighborhood of five to eight percent on these reports. Is the third time a charm to Tina. Do they actually go and buy JC PENNEY WELL? Maybe I mean so. I'll say that Matt. Frankel my partner in crime on the Monday industry focuses. He and I talked about this on Monday as well and. You know. It's easy on the surface to look at this. What the world are you think I mean we're all sitting your just ripping on JC Penney for the last several years, and just basically acknowledging the fact that the world doesn't really need JC penney in I don't think that's changed and I. Don't think that's where Simon Property Group, actually viewing this from there is a real estate angle here ultimately that I think has Simon's interest in in certainly felt that way as well. If, you look at Simon Property Group minutes the largest mall operator out there. They operate a lot of malls and we knew. What went on during the during the shutdown? I mean it really ding their business for lack of a better word. Because of that exposure there, but I mean in in good times. I mean that's a pretty strong presence to have and the interesting thing about J. C.. Penney is there is a real estate angle here I mean it kind takes you back to those days of sears in the real estate. Folks try to use in justifying investment in sears in so for the individual investor I don't know that it makes a whole heck of a lot of sense, but for Simon Property Group. Actually I mean this does make some sense. In that they should be able to get the real estate here..
"simon property" Discussed on CNBC's Fast Money
"They haven't shown any reason that we don't have that. We've heard our long-term ability to make money that they haven't shown that. The most important thing is that this is there's no question Simon has very a very bad case of buyer's remorse, because this is one of the worst. Timed deals that I remember for I. Don't know how long it's. Obviously. February was not the right time to sign up a huge deal at a gigantic price with a merger agreement. That's just about as tight as any. I've ever seen no wonder. They have buyer's remorse I still ultimately think that a deal will get done. Maybe it's a cut deal, or maybe it's possibly even the original deal we'll see and it'll be. We'll we'll. We'll get something from the court no later than August twenty fourth, but maybe sooner. So basically you think tough luck Simon Property. That all your arguments are pretty slim. He's luck. Yeah it was a terribly the probably the worst deal right in the history of malls, February ninth sign a deal right just before the precipice. Where there is a carve out in the takeout agreement. Around pandemics. It's just it's remarkable, Tim. Yeah. Can't brings up the right points, and if you look at other mall operators, it's a difficult time and I'll let. The Merger Arb- folks. Has Been Pretty interesting. There's Simon obviously had a sixty five. Percent Move on speculation that they might be able to break the deal. And now that's some of that's coming off. I'll just say for people that are assessing this kind of big trend here and think about the housing market in the home builder's and that trade in two thousand, eight nine, and it was very obvious what was going on the housing market, and you still had plenty of opportunities to to make a call. I'm not saying you know patently rush out and go short mall, operators and commercial real estate, but the commercial real estate environment. Environment is got a terrible setup and I realize a lot of these names have already suffered enormous pain and draw downs, but if you think about what's going on in urban centers, if you think about the change in consumer profile, look at all the e commerce data were getting in the digital online. mastercards just said we're up ninety three percent in e commerce point, not going out to the malls, and then back into the office space, so I think this is a trade in terms of being short. This sector that there's still more to do. quickly, what would your verdict? Be If. You were in that court room. I mean it seemed pretty.
"simon property" Discussed on WTVN
"Of shopping malls nationwide are poised to re open as soon as this weekend Simon property group which operates more than a hundred malls across the country is expected to open nearly half of them at various locations an internal memo obtained by CNBC and The New York Times indicates the opening will happen at forty nine locations in states like Indiana Georgia and Texas there will be adjustments inside of the malls and stores including social distancing sign spaced out food court seats and bathroom urinals play areas water fountains and stroller rentals will remain closed Ribeiro ABC news civilian U. S. navy leaders want a closer look at the brit crozier matter the commander of the aircraft carrier USS Theodore Roosevelt was ousted after a letter he wrote about coronavirus military brass one reinstated a few days ago the navy's top leaders recommended the crosier be reinstated president trump has talked highly of crozier as well but acting navy secretary James McPherson says he still has unanswered questions that can only be answered by a deeper review that deeper review will delay whatever happens next for crozier ABC's Alex stone members of the family of duck dynasty star Willie Robertson have been granted protective orders against Daniel king junior he is jailed in Louisiana and charged with shooting at homes on the family is a state no one was hit by gunfire king who admitted to drinking vodka said he wanted to see if the gun safety was on this is ABC news the latest Gallup poll shows support for president trump is falling but can you really believe the polls now newsmax is conducting an urgent national poll asking Americans if you approve of president trump's handling of the crisis it's easy to vote in newsmax is poll just text the word fish to thirty nine seven four seven that's thirty nine seven four seven your opinion counts and newsmax we'll share the results with Congress and the media so text fish.
"simon property" Discussed on WBT Charlotte News Talk
"Ninth Simon property group announcing its closing all of its U. S. properties in a move to curb the spread in corona virus locally that includes South Park mall Charlotte premium outlets and Concord mills many mall tenants including Nordstrom Belk J. crew an apple already opted to temporarily close before today's announcement by Simon this report today that Detroit's big three automakers are expected to close down production for a while because of work or concerns about the virus person briefed on the matter tells the Associated Press that Detroit's three automakers have agreed to close all of their factories due to workers fears about the corona virus the United auto workers union has also been pushing for factory closures during efforts of social distancing the reported decision would reverse a deal worked out yesterday in which the automakers would cancel some ships Honda already announced the one week closure of its north American factories Jeff man also fox news warmer weather coming up we'll have that in a minute WBTW fifteen Hey Greg I'm so sorry to hear about your brother's heart attack thanks he's okay now but it really got me thinking about my family you know could my wife still pay our mortgage if I had a heart problem okay my kids to go to college that is really scary yeah you should call my life insurance agent health IQ when I got life insurance for my family last year these save me forty one percent versus any other company I looked at forty one percent that's huge yep hello thank you start by shopping everyone with a top thirty life insurance carriers to make sure they.
"simon property" Discussed on Bloomberg Radio New York
"Sign Charlie we move into the final hour of trading on this Monday back to work Monday we've got the down the S. and P. and nasdaq all advancing the Dow in fact very close to the best level of the day equities are climbing as investors try to gauge the economic damage from the spreading coronavirus while preparing for more corporate earnings S. and P. five hundred index up fifteen to gain of five tenths of one percent the Dow higher by one hundred points up three tenths of one percent nasdaq trading a record it's up seventy eight points now that is a gain of eight tenths of one percent ten years of ten thirty seconds the old one point five four percent gold up three tenths of one percent fifteen seventy five the ounce it is a down day for crude oil trading below fifty dollars a barrel West Texas intermediate down one point four percent forty nine sixty one or barrel Brent crude fifty three thirty three it is a fine two point three percent so stocks are advancing today as for markets the economy and the corona virus are Hogan is chief market strategist at the national security this was hard to sort of sit back and say okay should we anticipate that this gets much worse than we think it's going to be or we're getting close to that they've made the Celts cresting and and and perhaps we'll we'll have more clarity and it feels like the policy responses been so rapid connect that that's probably the case billionaire Peter Thiel an early investor in Facebook once controlled forty five million shares of the social media giant is unloaded most of his remaining stake last week Facebook shares are up today by one tenth of one percent Simon property group buying rival American shopping mall operator Taubman centers for about three point six billion dollars a combination that comes as E. commerce continues to royal brick and mortar retailer shares of us Simon property group there are five one percent power window surgeon by fifty three point two percent Foxconn technology group is resume some production of its main iPhone making site in Gen John according the local officials apple shares their advancing now by three tenths of one percent so again recapping here stocks close to the highs of the Monday session now we've got the S. and P. advancing sixteen points up by five tenths of one percent I'm Charlie palette that is a Bloomberg business flash this is Bloomberg business week with Carol master Angie's in Kelly on Bloomberg radio let's see a little business week economics and now tailor made for Taylor rigs for Bloomberg.
"simon property" Discussed on WBT Charlotte News Talk
"To hold spots for customers willing to pay a few extra dollars for the convenience the way. This works is malls that link up with this company. And the reason I'm bringing this up primarily is because according to Forbes Simon property group, you know, Simon malls, which they own south park and also mall of America have linked up certain markets, Miami being one of them with this. My park service. So if the if the mall, and my par- Cava, a partnership, there are designated spaces where there are these contraptions that blocked the parking space. But then if you enter in your credentials and pay for that particular space, you can type in your code drive to the mall, and when you get there that that blocker will fall down, and you can park over top where the car is essentially you can reserve parking spaces via app, if you're willing to pay the money now the way this works as far as I understand. It's not a you pay for the whole day thing parking space rental rates typically range between one dollars three dollars for the first two hours, and then additional charges for our thereafter. So I don't know how much you'd rack up all told that. I mean, let's be honest. How long are you actually going to spend at the mall told not ours? You don't know Sandra's family. Well, could be a long time. So the how do they physically block it? What is the blocker? While I was watching the video oversized guy. I mean what? It. It's it's this little how do I describe this? I mean, a it folds up in almost reminds me of you know, when you see those things that pop up out of the ground when you want to block something from going into a building or you see them in DC a lot of times those barriers that pop up. They're not quite as intrusive as that. But basically you can't park in the space because this little stand flips up and is in the middle of the space. And then if you have the right code it flips down so and that's about the stand is about halfway into the space. So you can't park there. If you did you'd be sticking out. So it wouldn't work the basically the app triggers a pop-up rectangular block that makes it impossible to park in that reserve space when the rightful renter arrives at folds down flat. So they can drive over it. The startup has deals with some of the country's biggest malls least pilot deals, and it spaces that are close to the mall entrances. That makes the reservations service doubly attractive. I would pay for this depending on how much it was. And you know, how bad the I needed to get inside. There's an invention. That's a lot easier and requires less construction. It's called valet. Just have somebody get a valet lot. And just save some spots. Yeah. But then, you know, one of the things that attractive about Uber is you've got to cut out all of the interaction with anything. You just you drive up. You get in you, don't you pay on the app. So you don't have to worry about tipping or anything like that. Although tipping is creeping its way into Uber. But essentially that was kind of the premise and to me this I would do this. I mean, this reminds me of what I think is the greatest innovation at least entertainment wise in the last five years. And I every time I use it. I think how did they not how did they wait this long to implement this? And that would be reserving seats when you go to the movies that is true too. That's a good idea. All the way round. It's just to me. It's one more reason not to go to the mall that you have to pay to reserve a parking spot. So you can park, and then you're the payoff is you get to go inside and shop at a mall, see their banking. They're banking that that's the reason. You don't want to go to the mall is because you can't find a parking place. So if you actually can have one waiting for you could they have the items purchased and waiting at the door give that is at another one. If this all catches on that I would pay for one more bit of car news this morning while I'm going down this road worst, Tom blocker. Ford has purchased the patent or filed a patent application for an odor removing process. That eliminates the new car smell after a vehicle has been purchased. Now, I actually would venture to say that most people out there like the new car smell even sell that sent that means you have a new car. Yes. But apparently people in China hate the new car smell. So they filed this patent for the Chinese markets. So they and this is I mean, this this is no do they preferred as it say what the choices are that. They would rather have you cannot answer this John More. Okay. People notice odors when compounds are released which occurs when a car sits in high temperatures Ford, scientists described baking the car until the odor disappears which happens after those compounds are released its have the patent involves parking the car and the sun opening the window slightly and optionally turning the engine heater and fan on a hate when compounds are released what would you know about that? The system includes special software and various air quality sensors and works only when fitted to a driverless or semi autonomous vehicle, but in China, they hate the new car smell. They're trying to kill the new car smell China. Now, I'm with you. I think the new car smell is like like you said it says the car is new. It's clean right out of the plant my favorite line from this Ford made headlines in July for quote, counting on a team of recruits to its Chinese research labs eighteen smell testers, so call gold, golden noses. Charged with making sure new cars, don't smell bad. Do. We dare refer to them as Malaya. What is this car smell pair? Well with. I don't even know where to go with this. Again. Like, I said the new car smell means. You have a new car. I would think that's a positive that is a positive if anything I'd like to keep the new.
"simon property" Discussed on Bloomberg Radio New York
"A business and you know this is obviously a theme that people followed and noticed for a while but the data from the start of this year really isn't pretty even had about seventy seven million square feet of announced closures among national and regional chains which is on pace to surpass last year's record of one hundred five million square feet of closures star and yet we still are seeing new malls being built just at a much much slower pace than in the past which raises the question look we we know these are long arcs of time there's a long cycle before you actually break ground but at what point does this industry realize the us is as you point out in the in the column is wildly overbuilt compared to the uk comport compared to japan we have five to seven times more retail space than they do how much further downsizing are we going to see before this begins to stabilize that's a that's a great question i think it's really up for debate and i it's it's a the answer has to be nuance because some of this retail space spaces people are trying to repurpose it you're saying that you know out here where i am in seattle there's an an older mall north of town that they're simon property group is plans to redevelop and you know they're gonna take the parking lots and they're gonna put offices in multifamily housing around an old mall and they're going to basically take that space in and redo it so some of that is going to go on but some portion of this and you know we're not really sure what portion that is is gonna go back to being a cornfield talking about this we were kind of teeing up this story and just say well wait a minute still about ninety four percent of all retail sales in the us noah's still take place in a physical store the minority is on line people still go to locations physical locations so why is it that we're seeing so much of this retail space come undone why pick.
"simon property" Discussed on Marketplace All-in-One
"Gold miners have made their voices heard as their industry convulses where are the voices of retail workers facing job losses in the move to shopping online i'm david brancaccio in new york there's some new data about what's happening to retail stores the kind built from cinderblocks in cement instead of digital bits and bites the fresh calculation predicts as many as twelve thousand more physical store locations will close this year this from a study by an interested party the commercial real estate company cushman in wakefield that's on top of about nine thousand store closings last year marketplace's erica barras tells us how mall operators are responding when starbucks that it was closing nearly four hundred of its cheap honest ours simon property group one of the biggest mall operators in the country suit them and one a judge ordered starbucks to keep writing the tea bahn us stores at miles starbucks is in a unique situation because her highly profitable that's garret ground with cushman in wakefield he says the tea bahn a ruling was meant to send the message to retailers trying to squeeze out of leases but starbucks is profitable whereas many businesses aren't if you had underperforming stores this wooden holden core brown says another 12000 stores will close this year larry perkins with advisory firm sierra constellation partner says malls are shifting access store space into fitness centres and offices but retail is still viable too much space was devoted to it i think things got a little bit crazy for awhile end their got to be so much of a footprint between real estate development in the separation is doors discount retailers like dollar tree and tj maxx plan on opening hundreds of stores this year america barras for marketplace as our series continues this week on what this huge shift is doing to retail workers let's get a union perspective this morning these store closings reach into communities and livelihoods across america but this has yet by a march to become a front and center public policy issue.
"simon property" Discussed on KBNP AM 1410
"And that just the hotel have you see that the airline tickets i do know that the there's a bill uh uh i believe in this tax bill to raise how much you pay to take it on a flight seriously so what i say to you taxes a to hi i'm not just talking about what you pay when you said that your tax every april 15th it's everything you too they koch everywhere and they know where they could get you because they know you're traveling you staying at hotels soha uh they know you've got a fly hough uh they know you gotta get gas we got gas tax it's a tax on everything it's taxes on as i have said to the estate tax i believe is a sin visit taxing you on the money that was already taxed how dare day i'm happy i know with all while you're just helping out the rich tough uh i don't care who we you to tax money that's already been taxed again what's with that uh anyway i just thought i read this to you because uh when i looked at the bill it nauseated me i'm helping them now they had helplessly out what did they do it for me uh without me they're in trouble uh you do mm you know the by the way i'm right their role seriously had nobody could disagree uh moves if the test leapt well held at three hundred move it up i guess there pepsi announced they're buying trucks with number something priceline updates uh goldman sachs up seven as i said financial blowing up six a change mccotter lee brace six watched that baby break out uh black rock where the fi is rightbloc change apparently up opel's five uh uh four more icu medical simon property group i believe that's the malls by the way and by the way uh i've been reading about would also deal with the pudding it a lot of uh jibs are going in their schools things like that looks like simon property group probably bottomed than here today leads to get above that one sixty seven something to confirm spg is.
"simon property" Discussed on WMAL 630AM
"The home to quite a few of very large companies ally lilley is one of them and simon property group so every time i'm you go to the mall um while not every ball is simon uh many many are and there is a story out that starbucks wants to close seventy seven of their team vonnas stores now i don't drink tea i think t is the devil's plaything i think it is awful i there is no iced tea don't tell me about sweet tea unsweetened tea don't tell me that in my promise is never met the chickfila it is terrible it is awful and i can't i cannot fully describe to you by enough how bad um um i i think it is while these tea bahn a stores didn't take off of only just to prove me right and they over there at starbucks they want to close seventy seven of them the plan is to shutter the whole thing three hundred seventy nine t vaughn locations they were going to close them in seventy seven balls but or and 77 locations but signing they have gone to court to block seventy seven stores in its malls from going dark the new york post with the story they say the move by highprofile tenant could spark other stores in its malls to close i don't even know how this happens the whole thing is anathema to me the store can't make any money so the stores says we're not gonna be in business anymore now if you told me that the the v business would still have to pay.
"simon property" Discussed on Bloomberg Radio New York
"Ets where they are causing bubbles are places like rates rate the fact that vanguard owns 14 percent of simon property group makes no sense and so the big headlines are distracting us from the real bubbles so do you assume that pass of ownership in something like a silent aura tanger we'll start to drop off once interest rates eventually normalize i think it's more about the demand for eight people want yield and these things hit normal multiple different areas of you look at a stock like national retail properties biggest holders v in cuba from real from from vanguard then you have st why give it in erased a crowd idea then it hits the mid cap sectors with empty why in the s p focus and then vanguard calls it a smallcap stock so it's like it hit so many different areas if it gets hurt in one of those gets kicked out of one of those you can see the dominant start to fall very rapidly so you could have a macro fall or you could just other structural and district turn a little bit to the tax plan big issue this week and i love the etf you pick play tax reform because you know michael is the classic etf etf master he's an advisor he's etf so he picks ones that will out of the box tell us about the etf to use to play tax reform sure so um it'll there's a lot of questions about what tax reform will do for individuals rate a actually she's more likely levelling a robin hood tax plan for individuals but will corporatise pretty straightforward so when you asked me about it i thought of a stock earn etf that we've used for years oppenheimer's w j and all it does is takes the sp six hundred reweighted towards revenue the net result is the net margins on the sp 600 about four percent net margins when you waited for revenue one percent slight increase in profitability from tax reform massive earnings inc enhance not just like caps westbound capspace wrap on revenue all right so the revenue ideas interesting in itself but in the world of a tax reform men that can make a big difference on margins talk a little bit about.
"simon property" Discussed on WIBC 93.1FM
"Court could possibly possibly tell somebody they have to stay in business when there wanting to go out of business is just so anathema to the idea of any kind of semblance of a free market which we know it's not a free market normally normally in the in the united states most business owners accept the premise that they have to ask the government to go into business which i think is shameful and battery lately you shouldn't have to ask any bureaucrats permission to go into business business but this is the first time i've ever seen somebody have to ask permission to go out of business right or go to court to try to argue why they should be able to be allowed to go out of business and ultimately failing because the judge ruled in favor of staying open here's the board of the store and they'll get back to your calls and thoughts so the judge basically another boiling down a 55 page order here at the new york post they say that the very profitable starbucks could absorb the financial hit of being forced to stay open estimated by starbucks to be fifteen million dollars over five months better than simon property group co so where picking winners and losers yes yes okay the mall operator did not provide an estimate of how much the closings of the a stores would hurt them the case is being closely watched by retailers and landlords ally mike amid a retail meltdown that has resulted in a record number of bankruptcies this year the retail failures have left landlord scrambling to find new tenants and retailers in the difficult position of breaking their leases still it's rare that a judge orders a retailer to keep stores open said retail.
"simon property" Discussed on KBNP AM 1410
"Are some earnings things go went on icu medical up nineteen today on their numbers which were let's see i don't know earnings were down seventeen percent but revenues up huge but they bought somebody a coherent up twelve veterans gapped up two days go following through today that should be on watchlist chr nvidia on earnings up today arish the networks up seven had a good reaction on last friday on earnings universal display o l e d another new high on that one former ip jeep of protonix avocado liebrich opposed laying nothing on their roku member what i mentioned yesterday real strong reaction to earnings even though they lose money up another four today was up seven at one time uh three or more sandison farms valmonte industries wave and bring this one up zoom lay limited chinese provider of internet platform on the stock two weeks ago hardly even traded it's gone from five the thirteen and seven eight days they lose money and sales are not that strong are wayfair for that at a good reaction the cup last week to earnings and looks like it wants the followed flt is that symbol or h corp expedia bounces f again absolutely trashed jazz pharmaceuticals o'reilly automotive shop of fi john four rao probation rogers corp polaris industry that's another one to watch off a recent earnings has brough p v h corp aetna simon property group that's the malls monster beverage you know that's the caffeine guy sherwin williams anthem cosco as mentioned dollar general strong could action and some of the dollar stores he i must tell you that uh disney was up to on their earnings which by the way with down three and revenues down three i think the market uh just the guess uh the going into the streaming stuff uh i don't know how big it is to them uh i gather they'll probably do that pretty well uh uh we'll see what happens with the s p and that's another story rumor is they're going to be firing another one hundred hundred and fifty people for me once they uh let go a chris spearman i'm done uh you know they have this pregame pro football thing on site for two or three hours before one o'clock on.
"simon property" Discussed on BizTalk Radio
"Uh that looks like rap i take that one back but the first two the move sipe to eighty apl was up eleven at one time mccotter lee brace sex here's another good out reacted earnings solar edge israeli gene gene the power jonathan systems up six to thirty nine bucks five addle in pharmaceuticals for domino's pizza neil levin down to 160 night simon property group four umana nature if the drop in i think like fifteen yesterday three or more will ringgit central blueberry bio are gonna write that rings central down with like a break out to me uh copper's corpse sit yet jewelers acting better charter communications alter beauty uh canada goose holdings really premium outerwear g o asked is the symbol of becton dickinson medtronic up both up three two or more simmered zimmer biomet everest ray kgb trying to break out of this range here sanderson forms part of a holdings let's about it on the upside on the downside uh uh gene named down not very good today off the top iin c research down sixteen the forty one box charles river lagged down fifteen lending tree eleven google down ten was down twenty uh palo alto networks down nine that's breaking down huntington ingalls down nine if the big up strong yesterday our general informed suitable nine sherwin williams nine colour bagged nine eight a more equal next six or more photo alarm dot com.
"simon property" Discussed on BizTalk Radio
"On the upside you know not a lot the okay bid auto t chinese provider of internet content that goes into new highgrounds on more than twotimes average volume are regenerate bounces up three that four forty one silent property group who let's talk simon property group that's one of those malls looks like it's trying to put in alot we'll see the s p g one you have a chance to put that on your screen here not leadership but his seven point two percent dividends and maybe putting in the low yeah no we'll see we'll be watch i'm gonna put up on the screen a boeing up off 330 today the selling a lot of dreamliner is i don't know if you have been almost seventy seven dreamliner it's so cool noise so much less less jet lag it really is a great machine that they built throwing good on them united tech up almost three to one thirteen ultimate software bounces were in the twos trans dime rockwell automation that's new highground union pacific you know i got right union pacific them that's really shaping up here you np that be rail contro reach sources that's it all on the downside today of course if i could find the downside i can tell you how many times i say that priceline down 25 google down 10 how 'bout opiant pharmaceuticals down 10th twenty six now gone from fifty the 26 in the last two days a charter communications big fat juicy nine henry shine down seven unchanged medical.
"simon property" Discussed on KBNP AM 1410
"Of they let's who we can find if anything sticks out for us oh yeah tesla up eleven today three seventy seven it's really shaped been coming up the right side of a base year old high was like three with over three eighty seven getting close don't worry they're only going to lose a couple of bucks a share this coming quarter no really all we are corp up six today that breaks out new ground and acacia don't know that's what he likes seeding in whatever for autos at type of stuff all bluebird bio nosales lose a lot of money up five 132 polaris what are they like the allterrain vehicles and snowmobiles and stuff like that it would see that one that broke out today numbers aren't that great as up foreign changed today uh and the on the upside not a lot the okay bid auto b i t h chinese provider of internet content that goes into new highgrounds on more the twotimes average volume a regenerate bounces up three today 441 silent property group who let's talk simon property group that's one of those malls looks like it's trying to put in alot the c s p g when you have a chance it's put that on your screen here not leadership but a seven point two percent dividends and maybe putting in the low in know we'll see we'll be watch i'm gonna put up on the screen uh blowing up a three thirty today the selling a lot of dreamliner liners i don't know if you haven't been almost seven eighty seven dreamliner it's so cool noise so much less less jet lag it really is a great machine that they built boeing good on them unite tech up almost three to one thirteen uh ultimate software bounces were in the twos uh trans dime rockwell autumn make shin that's new highground union pacific you know i got right union pacific down that's really shaping up here you np that be rail contro resources that's it on the downside today of course if i could find the downside i can tell you how many times i say that priceline down 25 a google down 10 how 'bout opiant pharmaceuticals uh down ten the twenty six it's now gone from fifty the twenty six in the last two days a charter communications big fetch you see nine henry shine down seven unchanged.