General Growth Properties (GGWPQ) today filed an 8-K (below) for its estimates cash flows for 2009-2010, the estimated bankruptcy period.
A Few Notable figures:
Unrestricted cash balance end 2009= $381 million
Unrestricted cash balance end 2010= $570 million
Cash flow from operations 2009= $1.2 billion
Cash flow from operations 2010= $1.9 billion
The filing backs the claim that General Growth is not a company that cannot function on a day to day basis ie. GM (GM). It is in Chapter 11 not because it cannot pay its bills but because credit markets have frozen and it debt cannot be refinanced.
General Growth 8-K BK Cash Flow
Disclosure (“none” means no position):Long GGWPQ
3 replies on “General Growth Files Cash Flow 8-K”
Todd,
Do you recommend buying in now at $1.3?
ok
i think the eventual value is far north of here. that being said, it could also be 0. so, the higher you buy, the larger your potential loss is. personally, i am not buying here as bought a bunch @$.49.
waiting
Thanks,
I made to mistake of buying at .56 and selling at 1.05 think it would go back down so I could buy back.
Live and learn I guess