Real Estate Novella
Here is a wild article on Grubb & Ellis. Scott Peters has resigned as CEO, and Tony Thompson, who owns 13.9% of Grubb, has filed a complaint with the SEC about Grubb's recent poor performance. Grubb's stock is at three bucks, down nearly 80% since the Grubb & Ellis / NNN Realty reverse merger was announced just over a year ago. I (and am sure thousands) received a glowing marketing piece several weeks ago about Grubb's prospects - what a bunch of baloney. I am guessing broker / dealers will be reassessing their selling agreements.