Jmb Hung On To The Wrong Coattails

For a company that wasn't supposed to stumble, Chicago's JMB Realty Corp. sure has found the footing awkward lately. In March, the demise of Randsworth Trust PLC cost JMB its entire $50 million investment in the London real estate firm. The 13 pension funds that JMB had recruited to invest along with it lost $381 million more. Now, JMB finds itself entangled in the spreading financial disaster that is Canadian real estate giant Olympia & York Developments Ltd.

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