Deutsche Bank analyst Lou Taylor in a research note Monday said a sale of General Growth Properties Inc.  appears more likely after the company announced two of its independent directors will take over the roles of chief executive and president on an interim basis. The real estate investment trust also said it continues to explore strategic alternatives and is marketing some of its assets. “With so many assets potentially being marketed, it makes sense for the board to more seriously consider the sale of the entire company”.

YET, GGP’s CFO, CIO and President netted about $40 million in late September when the stock was selling for $16.  A month later, the company is bust and the stock is down 80-90% and we are supposed to believe that they had no clue this was going to happen.  They should be required to give that money back to the company and its shareholders. The president netted $3.0 million and now he is gone, so this just confirms that he was trading on insider info.

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