Tuesday, March 17, 2020

Life Isn’t Just About Money, Says CEO of Mall Owner Down 99%

Shares of CBL & Associates Properties Inc. are down 99% from their peak, but Stephen Lebovitz is undeterred.

After all, he started working at the family business in the middle of the savings and loan crisis. When he succeeded his father as chief executive officer two decades later, the 2008 financial crash was still reverberating throughout the U.S. economy.

Now he faces perhaps his most seminal challenge yet: To convince Americans who increasingly shop online that they should keep coming to CBL’s malls -- even as the coronavirus spreads across the U.S. -- and persuade Wall Street that the effort will work.
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