Glimcher Finds Gold in Malls With 38% REIT Return: Real Estate

Michael Glimcher has made quite a comeback. His company, Glimcher Realty Trust, hit bottom in 2008 as it struggled under $1.7 billion of debt.

That April, Glimcher called his employees into a conference center for a pep talk, Bloomberg Markets magazine will report in its August issue. He told them to focus on their jobs, not on predictions of gloom and doom. By November, Glimcher Realty’s stock was trading below $1 a share, from a 2005 peak of $29.63.