Thursday, December 25, 2008

I Was Wrong
My anecdotal evidence of packed malls did not translate to sales. This Wall Street Journal says that retail sales "plummeted" this year.

Update: Sales did not stink at all retailers. Amazon has its best Christmas ever.


Anonymous said...

Check out Wells Timberland SEC filings from 12/23. What is the effect on current shareholders?

Rational Realist said...

I read it but need to reread it. First read sounds like nothing but transferring the asset from an special purpose entity that owned the property to Timberland's operating partnership. This makes it cleaner, and according to the filing, makes it easier for Timberland to qualify as a REIT. Hopefully, this is all there is to the transaction.