Ackman Wants Target to Create REIT (audio)

Here is the audio from the 2 hr presentation and Q&A..This took way too much effort as one thing after another went wrong…sorry for the delay. Best line? He calls Wal-Mart (WMT) a “flea market”.

The audio is a little fuzzy in the beginning but about 1:18 min. in I was able to fix it.
Audio:

Part 2

Here were the initial plans that were discussed with management of Target (TGT) and the issues with each one.

Ultimately this is how they view the retailer::

Ackman broke down the value of the new entities this way:

Disclosure (“none” means no position):None
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