Replies

To: Zuben Elgenubi

I believe Sam Zell put up around $250 million of his own money for the purchase — the remaining $7.75 billion is done with borrowed cash.

If it craters, he’s not out all that much cash (well, not that much by Sam Zell standards) and the bond holders will be left holding the bag.

Jack

9 posted on 08/13/2008 1:32:17 PM PDT by JackOfVA

To: JackOfVA

The figure I saw for him was like maybe $350 million. He got one of the Greenspuns to put up $150 or so.

10 posted on 08/13/2008 2:02:18 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)

To: JackOfVA

I believe you are right. I also think they raided the employee's pension fund. If so the workers are in hoc to the lenders.

11 posted on 08/13/2008 2:05:27 PM PDT by Uncle Hal

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