The employee stock pension plan he created in the takeover is worthless.
Even though everybody else.And Zell didn't forget to outsmart the taxman in the Archstone deal: The units were purchased through Zell's tax-advantaged Equity Residential reit.Description, build a business with your software projects by learning from the most successful developers."There's this illusion that they journalists.It was the largest real estate transaction since the Blackstone Group shelled out 26 billion for Hilton Hotels six years ago.
The nickname dates from the '70s, when Zell penned an article attributing his success to dancing on the skeletons of other people's mistakes.
Along the way there had been arrogance (a video of Zell cursing out a reporter from a company newspaper controversy (some investors sued, saying the deal was fraudulent scandal (tales of hypersexual workplace behavior among his handpicked executives) and ultimately failure-the largest in his life.
"If the point of entry is cheap enough and attractive enough, we don't have hesitancy says Zell.The wall just outside Zell's office is dominated by a painting he commissioned after he tried to offload a division of Itel, a railcar business, to GE Capital in the early 1990s and found himself stymied by federal regulators.It is also precisely the wrong story.Zell walked away free of liability, but out over 300 million of his own money and cursed with blood enemies.His hunch was dead.The timing of the sales was no accident: Zell believed interest rates would begin rising later in the year, a scenario that would translate into slower sales for Equity Residential's legacy units.In that deal, Zell partnered with one of his competitors, AvalonBay Communities of Arlington,., to pay 16 billion (including debt) university of essex visa for over 45,000 top-tier apartments.And Zell, for his part, has definitely moved.From independent devs making a living on their projects to folks at software outfits now considered titans in their respective arenas - open source or otherwise - we're interviewing them all."Sam did Tribune, and it was a bad deal, but over time his track record is impeccable because he is always looking to have an edge, and he's thinking about what risk he is taking says Equity Group Investments co-president David Helfand, who has worked.Equity International, Zell's privately held emerging market fund, recently made its first ever investment in India after spending an entire decade looking for the right opportunity.Sam Zell's Guide to Getting Really, Really Rich -it would rest on three basic principles: First, look for bargains, typically assets that are out of favor, in bankruptcy or otherwise distressed.