Bruce Berkowitz: Saving St. Joe

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Mar 29, 2011
Miami Herald’s Ina Paiva Cordle published a good article on Bruce Berkowitz’s investment in St. Joe Company (JOE, Financial), entitled Bruce Berkowitz: Saving St. Joe.

The determination on Berkowitz’s part to make the company may make David Einhorm think twice about his short thesis.

This is how the article ends:
Today, Berkowitz calls St. Joe’s lands “the last frontier’’ of Florida.

Berkowitz and Fernandez’s ideas for the company’s land run from mining to manufacturing, forming an economic development zone to create new jobs, garnering investment from international companies, forming strategic partnerships with other real estate development companies, and making acquisitions of adjoining land.

The aim, said St. Joe director Frank, is to “take the company to the next level.’’

“Knowing Bruce,’’ Frank said, “the direction he is going is to raise some capital to inject into St Joe, and to create a new business model for it.’’

The article gives a few details of Berkowitz’s private life, his youth, his college years, his marriage, his daily routine, and his relationship with his partner Charlie Fernandez. Yes, he works 18 hours per day and six days a week. Ever wondered what is behind the sparkling performance numbers?

Read the complete article at Miamiherald.com.

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