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Re: mappo post# 127658

Thursday, 01/27/2011 10:35:09 AM

Thursday, January 27, 2011 10:35:09 AM

Post# of 233825
mappo

"Also, naysayers hate to hear about the VALE-KAT LUCKYS DEAL."

Your statement is about as far from the truth as possible. Gump and others have pointed out again and again and again how exceedily bad that deal was for KATX. It meant largely giving away the Lucky properties for next to nothing. When Ken was criticised for this deal he came up with the incredible that the properties might be worth more than 5 billion dollars! His intention was presumably to suggest that there was still a lot of value left for KATX. If he had considered this a realistic possiblity why would he give away the property for next to nothing??? Of course it is no realistic possibility. Ken had painted himself into a corner and did not have the courage and integrity to admit it. Instead he chose to mislead the market by being unduly optimistic about the Lucky properties.

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