Equity Office CE Steps Down for personal reasons. We’ve seen this before. Zell’s at the helm again, but the rules have changed since the last time he took charge. EOP is down almost 10% for the year to $28.70. There’s more bleeding to come.
While it didn’t live up to the hype, ecommerce has several advantages over bricks and mortar retailing. My long-time fav, and George Soros’, has been Bluefly.com. Now that George has reduced BFLY’s cash-crunch risk, it’s a great time to invest. Yesterday’s earnings reported 1Q loss of $1.1M on a 65% QOQ revenue increase.
This is the best discount retailer play I see. The stock, at $1.65, has a $14M market cap and, as of 12/01, had $6.2M in short term debt