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$78.51 11.15 (16.55%)
10/10/2008 4:03 PM

Simon Property Group, Inc. (SPG)

CAPS Rating:
*

A self-administered and self-managed real estate investment trust, engaged primarily in the ownership, development, and management of retail real estate, primarily regional malls, Premium Outlet® centers and community/lifestyle centers.

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7

Avatar falcon2382 (98.47) Submitted: 4/14/08 1:18 PM : Underperform Start Price: $95.45 SPG Score: -15.81

Simon's malls have been growing so much over the past 5 years. Everywhere I look in the states there's another one. While that was great before and produced tremendous cash flow, a great portion of that cash flow came from people who had extra cash on hand from refinancing their home or selling their previous home to buy a new one (while being able to skim a little off the top for the savings account). Furthermore, Simon's biggest growth has been in states like florida, California--those hit hardest by the subprime collapse. I doubt very much that they purchased even 40% of their properties with cash. It was all financed. Just because its commercial space doesn't mean its not going to be dominoed by the housing market. So you have two huge meteors coming smack dab in the middle of what made SPG a fantastic long for a long 5 years. The current price of the stock is not priced nearly low enough given that their annualized earnings growth over the past 5 years is only 5% and their TTM PE is 50! The stock is priced right now to gain tremendously over the course of the next couple of years. I think people are betting way too much on this stupid stimulus package. I already have accumulated so much debt since they announced I'd be receiving a $600 check in May that I have no choice but to use it to pay it off. I think the media and the government underestimate just how hard its going to be for people with bad credit to borrow money moving forward. With credit cards maxed out, how can the average mall rat afford to keep going---Oh yeah, and might gas prices keep the potential for frivolous shoppers away too?

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Avatar midlandemt911 (< 20) Submitted: 6/21/08 2:00 AM

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This isnt' a response really but, I used to do contract security work for SPG and where I worked the mall manager and operations manager treated the security like crap. When we complained, our managers boss from SPG corporate came down and that just made our mall manager a bigger jerk. He is a bully. Period. He blamed others for his mistake, we have gone through several security directors (due to the way he treated us). He made the environment stressfull for everyone. But to me I wouldnt' buy ANY of SPGs stock its A HORRIBLE COMPANY TO WORK FOR. They put energy conservation BEFORE CUSTOMER/EMPLOYEE SAFETY. They get ALOT OF COMPLAINTS. (at least where I worked at they got alot). The manager blamed alot of his mistakes on security. The office staff blamed their mistakes on everyone but themselves. I hope people who are thinking of selling their real estate to SPG THINK TWICE, AND GET SOMEONE ELSE TO BUY THEM. SPG is the one that makes their security guards wear goofy not to mention extremely hot hats ( I live in West, Texas) where temps reach 100 . And our manager triedto conserve energy buy keeping the a/c turned off DURING THE DAY and we got LOTS OF COMPLAINTS FROM CUSTOMERS. AND LOST CUSTOMERS DUE TO THIS, "conservatiion of energy"

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Avatar midlandemt911 (< 20) Submitted: 6/21/08 2:01 AM

Recs: 0 | Rec This

This isnt' a response really but, I used to do contract security work for SPG and where I worked the mall manager and operations manager treated the security like crap. When we complained, our managers boss from SPG corporate came down and that just made our mall manager a bigger jerk. He is a bully. Period. He blamed others for his mistake, we have gone through several security directors (due to the way he treated us). He made the environment stressfull for everyone. But to me I wouldnt' buy ANY of SPGs stock its A HORRIBLE COMPANY TO WORK FOR. They put energy conservation BEFORE CUSTOMER/EMPLOYEE SAFETY. They get ALOT OF COMPLAINTS. (at least where I worked at they got alot). The manager blamed alot of his mistakes on security. The office staff blamed their mistakes on everyone but themselves. I hope people who are thinking of selling their real estate to SPG THINK TWICE, AND GET SOMEONE ELSE TO BUY THEM. SPG is the one that makes their security guards wear goofy not to mention extremely hot hats ( I live in West, Texas) where temps reach 100 . And our manager triedto conserve energy buy keeping the a/c turned off DURING THE DAY and we got LOTS OF COMPLAINTS FROM CUSTOMERS. AND LOST CUSTOMERS DUE TO THIS, "conservatiion of energy"

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Avatar midlandemt911 (< 20) Submitted: 6/21/08 2:01 AM

Recs: 0 | Rec This

This isnt' a response really but, I used to do contract security work for SPG and where I worked the mall manager and operations manager treated the security like crap. When we complained, our managers boss from SPG corporate came down and that just made our mall manager a bigger jerk. He is a bully. Period. He blamed others for his mistake, we have gone through several security directors (due to the way he treated us). He made the environment stressfull for everyone. But to me I wouldnt' buy ANY of SPGs stock its A HORRIBLE COMPANY TO WORK FOR. They put energy conservation BEFORE CUSTOMER/EMPLOYEE SAFETY. They get ALOT OF COMPLAINTS. (at least where I worked at they got alot). The manager blamed alot of his mistakes on security. The office staff blamed their mistakes on everyone but themselves. I hope people who are thinking of selling their real estate to SPG THINK TWICE, AND GET SOMEONE ELSE TO BUY THEM. SPG is the one that makes their security guards wear goofy not to mention extremely hot hats ( I live in West, Texas) where temps reach 100 . And our manager triedto conserve energy buy keeping the a/c turned off DURING THE DAY and we got LOTS OF COMPLAINTS FROM CUSTOMERS. AND LOST CUSTOMERS DUE TO THIS, "conservatiion of energy"

Report this Post Reply

Avatar midlandemt911 (< 20) Submitted: 6/21/08 2:01 AM

Recs: 0 | Rec This

This isnt' a response really but, I used to do contract security work for SPG and where I worked the mall manager and operations manager treated the security like crap. When we complained, our managers boss from SPG corporate came down and that just made our mall manager a bigger jerk. He is a bully. Period. He blamed others for his mistake, we have gone through several security directors (due to the way he treated us). He made the environment stressfull for everyone. But to me I wouldnt' buy ANY of SPGs stock its A HORRIBLE COMPANY TO WORK FOR. They put energy conservation BEFORE CUSTOMER/EMPLOYEE SAFETY. They get ALOT OF COMPLAINTS. (at least where I worked at they got alot). The manager blamed alot of his mistakes on security. The office staff blamed their mistakes on everyone but themselves. I hope people who are thinking of selling their real estate to SPG THINK TWICE, AND GET SOMEONE ELSE TO BUY THEM. SPG is the one that makes their security guards wear goofy not to mention extremely hot hats ( I live in West, Texas) where temps reach 100 . And our manager triedto conserve energy buy keeping the a/c turned off DURING THE DAY and we got LOTS OF COMPLAINTS FROM CUSTOMERS. AND LOST CUSTOMERS DUE TO THIS, "conservatiion of energy"

Report this Post Reply

Avatar midlandemt911 (< 20) Submitted: 6/21/08 2:01 AM

Recs: 0 | Rec This

This isnt' a response really but, I used to do contract security work for SPG and where I worked the mall manager and operations manager treated the security like crap. When we complained, our managers boss from SPG corporate came down and that just made our mall manager a bigger jerk. He is a bully. Period. He blamed others for his mistake, we have gone through several security directors (due to the way he treated us). He made the environment stressfull for everyone. But to me I wouldnt' buy ANY of SPGs stock its A HORRIBLE COMPANY TO WORK FOR. They put energy conservation BEFORE CUSTOMER/EMPLOYEE SAFETY. They get ALOT OF COMPLAINTS. (at least where I worked at they got alot). The manager blamed alot of his mistakes on security. The office staff blamed their mistakes on everyone but themselves. I hope people who are thinking of selling their real estate to SPG THINK TWICE, AND GET SOMEONE ELSE TO BUY THEM. SPG is the one that makes their security guards wear goofy not to mention extremely hot hats ( I live in West, Texas) where temps reach 100 . And our manager triedto conserve energy buy keeping the a/c turned off DURING THE DAY and we got LOTS OF COMPLAINTS FROM CUSTOMERS. AND LOST CUSTOMERS DUE TO THIS, "conservatiion of energy"

Report this Post Reply

Avatar midlandemt911 (< 20) Submitted: 6/21/08 2:01 AM

Recs: 0 | Rec This

This isnt' a response really but, I used to do contract security work for SPG and where I worked the mall manager and operations manager treated the security like crap. When we complained, our managers boss from SPG corporate came down and that just made our mall manager a bigger jerk. He is a bully. Period. He blamed others for his mistake, we have gone through several security directors (due to the way he treated us). He made the environment stressfull for everyone. But to me I wouldnt' buy ANY of SPGs stock its A HORRIBLE COMPANY TO WORK FOR. They put energy conservation BEFORE CUSTOMER/EMPLOYEE SAFETY. They get ALOT OF COMPLAINTS. (at least where I worked at they got alot). The manager blamed alot of his mistakes on security. The office staff blamed their mistakes on everyone but themselves. I hope people who are thinking of selling their real estate to SPG THINK TWICE, AND GET SOMEONE ELSE TO BUY THEM. SPG is the one that makes their security guards wear goofy not to mention extremely hot hats ( I live in West, Texas) where temps reach 100 . And our manager triedto conserve energy buy keeping the a/c turned off DURING THE DAY and we got LOTS OF COMPLAINTS FROM CUSTOMERS. AND LOST CUSTOMERS DUE TO THIS, "conservatiion of energy"

Report this Post Reply

Avatar midlandemt911 (< 20) Submitted: 6/21/08 2:02 AM

Recs: 0 | Rec This

This isnt' a response really but, I used to do contract security work for SPG and where I worked the mall manager and operations manager treated the security like crap. When we complained, our managers boss from SPG corporate came down and that just made our mall manager a bigger jerk. He is a bully. Period. He blamed others for his mistake, we have gone through several security directors (due to the way he treated us). He made the environment stressfull for everyone. But to me I wouldnt' buy ANY of SPGs stock its A HORRIBLE COMPANY TO WORK FOR. They put energy conservation BEFORE CUSTOMER/EMPLOYEE SAFETY. They get ALOT OF COMPLAINTS. (at least where I worked at they got alot). The manager blamed alot of his mistakes on security. The office staff blamed their mistakes on everyone but themselves. I hope people who are thinking of selling their real estate to SPG THINK TWICE, AND GET SOMEONE ELSE TO BUY THEM. SPG is the one that makes their security guards wear goofy not to mention extremely hot hats ( I live in West, Texas) where temps reach 100 . And our manager triedto conserve energy buy keeping the a/c turned off DURING THE DAY and we got LOTS OF COMPLAINTS FROM CUSTOMERS. AND LOST CUSTOMERS DUE TO THIS, "conservatiion of energy"

Report this Post Reply

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