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Re: Enterprising Investor post# 222

Tuesday, 12/31/2013 1:35:08 PM

Tuesday, December 31, 2013 1:35:08 PM

Post# of 252

CHICAGO, Dec. 12, 2013 /PRNewswire/ -- Strategic Hotels & Resorts, Inc. (NYSE: BEE) announced today that the Company has signed an agreement with Cascade Investment, L.L.C. to sell the Four Seasons Punta Mita resort and the adjacent La Solana land parcel for gross consideration of $200 million, or approximately $1.1 million per key.

[....]

Cascade Investment is the private investment arm for Bill Gates. It is a shareholder of Strategic Hotels, owning approximately 6.4% of the Company's common equity.

Interesting that an inside shareholder would purchase the hotel from the company. Doubly interesting that the purchasing entity happens to be owned by Bill Gates.

Am I being overly critical if I said the opportunity for self dealing was present? ':~\

...were there other offers? We don't know.


If liabilities are greater than assets, the business is insolvent. Knowing the structure of those liabilities is where to make your money. EI-2010