David Einhorn of Greenlight Capital tore apart Northwest Florida’s largest developer, St. Joe Company,in October 2010 at the Value Investors Conference. He spelled out, in detail, the dire condition of the company. He criticized the company for its investments in the “international” airport in Bay County—the one that got Southwest Airlines because St. Joe guaranteed the contract.
Einhorn’s presentation was called: “Field of Schemes: If you build it, they won’t come.” It got little attention in our area, but plenty of coverage on business websites.
News Articles on presentation:
Daily News reports regulators are looking into St. Joe’s latest SEC filing. Here.