Sam Zell
Sam Zell
Samuel "Sam" Zell is an American business magnate. He is chairman of Equity Group Investments, the private investment firm he founded in the 1960s. The majority of his investment portfolio ranges across industries such as energy, logistics, communications and transportation, but he is often noted for a pioneering role in creating the modern commercial real estate industry. EGI’s holdings also include fixed-income investments in public and private companies...
seeing
That's why we're seeing a lot of going-private transactions.
huge level market mean
The residential market is going to level out for a while after years of huge gains, but that does not mean there is a bubble.
fortunes leverage market public
We made fortunes off of leverage (before going public), and you're not going to make fortunes in the public market off of leverage.
months next situation
There is oversupply at the moment. But we have lowered supply, and over the next 18 months the situation will get better.
begin developers figured rich
You have developers who weren't rich to begin with, who went public, and then figured out they couldn't get rich.
business changed companies creating estate operating public scrutiny
Creating these companies and operating under the public scrutiny has changed the real estate business pretty dramatically.
areas estate market people softer telling
There will be a softer real estate market in some areas as a result, but I keep telling people there is no bubble.
decision culture company
Just by being private, the culture will change. We won't be forced to make decisions that are 90 days in relevance.
business done fabulous
When all is said and done, what must be remembered is a newspaper is a business. It used to be a fabulous business that made extraordinary margins. It's now a very good business with appropriate margins.
issues demand imagine
When you got a demand issue it's hard to imagine the stock market at an all-time high.
pussy likes
Everyone likes pussy. It's un-American not to like pussy.
country dollars imagine
I can’t imagine anything being more disastrous to our country than if the dollar lost its reserve-currency status.
real opportunity united-states
I've always been called a professional opportunist, and in the future I'm open to anything. We've spent a lot of time offshore, looking at opportunities in real estate outside the United States.
country loss thinking
My single biggest financial concern is the loss of the dollar as the reserve currency. I can't imagine anything more disastrous to our country. . .you're already seeing things in the markets that are suggesting that confidence in the dollar is waning. . .I think you could see a 25% reduction in the standard of living in this country if the U.S. dollar was no longer the world's reserve currency. That's how valuable it is.