10/11/2010

General Growth Properties has appointed hedge fund manager William Ackman to be chairman of the company that will be spun off as it emerges from bankruptcy. It has also named it the Howard Hughes Corp. GGP's plans post-bankruptcy entailed emerging as two companies, with the retail portion retaining its name. The Howard Hughes Corp. will house master-planned communities, some retail centers and nonincome-producing properties.

Related Summaries