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New York

General Growth removed from S&P

General Growth Properties, which was selected by city officials to
build a
mixed-use development in Harlem, has been
dropped from the S&P 500 because its shares are virtually
worthless, according to the Wall Street Journal. The
real estate investment trust’s stock was trading at $0.35 a share, and
the company has struggled over the past year to refinance and pay off
$27 billion in debt.

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