It would be easy to dismiss today's rant (however spot-on it might be) by New York Times columnist Thomas Friedman as yet another ideological tirade against the U.S. automobile industry. But based on the bad news coming out of shopping-mall owner General Growth Properties [GGP], it is no wonder Friedman is feeling crankier than usual. That's because the author's wife, Ann (née Bucksbaum), is an heir to the General Growth fortune. In the past year, the couple-who live in an 11,400-square-foot mansion in Bethesda, Maryland-have watched helplessly as General Growth stock has fallen 99 percent, from a high of $51 to a recent 35 cents a share. The assorted Bucksbaum family trusts, once worth a combined $3.6 billion, are now worth less than $25 million.
But don't expect Friedman to go from Beirut to Jerusalem begging for money. The distinguished columnist (and former New Establishment member) is still said to get at least $50,000 per speaking engagement on top of the millions he makes writing best-sellers.
(thanks, k!)