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Wall Street Breakfast: Must-Know News

Posted on May 16, 2008

MGM mulls Manhattan. MGM Mirage (MGM) and Dubai World may join to buy Harry Macklowe's Drake Hotel site. The partners would assume $580M in defaulted debt and interest, and probably pay another $200M for the East 56th and Park Ave. site. A Park Avenue address is prestigious and well regarded from a global perspective, and a globally recognized brand would be a good combination, hotel investment broker Mark Gordon says. Can Icahn seize Yahoo? Carl Icahn unveiled his Yahoo (YHOO) proxy slate (including Dallas Mavericks owner Mark Cuban), while Yahoo defended its board and its handling of th...

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