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  "documentTitle": "General Growth Properties (GGWPQ)",
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  "notes": "The slide uses a quote from a former CFO to establish that management previously acknowledged the development potential of the land, which the activist is now using to argue for higher valuation or strategic action.",
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      "kind": "callout",
      "text": "GGP’s Las Vegas assets have option value as future development sites",
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      "text": "Fashion Show’s location on “The Strip” is within walking distance of 75 percent of the city’s 143,000 hotel rooms... Guests from nearly 13,000 neighboring hotel rooms... Located adjacent to Fashion Show, in January 2008 The Palazzo added over 3,000 all-suite rooms...",
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      "text": "–Bernie Freibaum, Former CFO of GGP, Q1’08 earnings transcript",
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      "text": "Fashion Show is a little bit of a different situation. The income there continues to grow very significantly, well ahead of our comp NOI average, and we expect that to continue. There are other things that we've been telling people for years that we're trying to get done there, including getting a certain portion of the project land in the Northeast corner under control, where we might be able to do additional development of that site, given its highly lucrative location right on the strip. So we wanted that flexibility.",
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      "text": "“Fashion Show is a little bit of a different situation. The income there continues to grow very significantly, well ahead of our comp NOI average, and we expect that to continue. There are other things that we've been telling people for years that we're trying to get done there, including getting a certain portion of the project land in the Northeast corner under control, where we might be able to do additional development of that site, given its highly lucrative location right on the strip. So we wanted that flexibility.” — Bernie Freibaum, Former CFO of GGP, Q1’08 earnings transcript",
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