Sear Tower in Chicago. Teetering with debt & 23% vacancy rate.

Quote from wilburbear:

Yeah, I know. Some call it the "Willis Tower". You can pay all you want to name it, but when I jump in a cab and ask for the Sears Tower everybody knows what I mean.

(Hey Chicagoans - drive west on Fullerton toward the Highway - it seems half of all retail space at street level is looking for an occupant).

Buy everything you can on the internet. Retail space is yesteryear + taxes.

http://chicago.cbslocal.com/2011/06/02/willis-tower-owners-seek-new-partner/
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Watch for many, many, many more stories along a similar lines in the very near future. This 2+ year "launch" higher was the liquidation rally for anybody with a half a brain in their heads. As structurally unsound as everything currently is (and continues to be), anyone in a shaky deal should have sold into strength (even if it was just an uptick).

You can just sense that alot of people are going to start hitting bids very very soon, once they realize that they just missed their best chance to unload some bleeding money pit onto the next biggest sucker.

Get ready for the next greater recession.
 
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