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The Circling Sharks

 




Just about a year ago I wrote about a fellow named Bill Ackman and my concerns as he and his investment company, Pershing Square, ramped up purchases of Howard Hughes stock with the intent of gaining control of it operations. My thoughts:

When you are a company that makes something, or does something, you are keenly aware of where your focus should be. What constitutes excellence? Making the best somethings, or doing the best job at the something you do. If you are Bill Ackman, you are so far removed from that concept that your goals are wholly disconnected from what created those companies in the first place. 

 - - Food Chain, Village Green/Town², 1/15/2025

The Baltimore Banner has been following Ackman’s progress. From their article in May:

The hedge fund will pay $100 per share to snap up nine million newly issued shares in Howard Hughes while giving the company access to Pershing Square’s resources and expertise.

The agreement limits the hedge fund‘s voting power to 40% and its beneficial ownership to 47%, even as it installs Ackman as executive chairman of Howard Hughes’ board of directors.

- - Bill Ackman’s hedge fund just got closer to buying downtown developer, Lillian Reed, Baltimore Banner

Now, 1) I’m no expert in hedge funds and 2) I’ve seen other locals opine on how this is not really a big deal and that fears of how this might impact Columbia are overblown. Let’s face it, there’s not a whole lot I personally could do about it if I didn’t like it.

So, it’s almost a year later and last night I read this post: 

There's a $10,000 donation on that Jonathan Ross GoFundMe from one William Ackman.

I checked.  There is. What I don’t have is reliable confirmation that it is the Bill Ackman of Pershing Square and Howard Hughes. (He did apparently share the GoFundMe information openly through his social media accounts.) As an aside, if you think that allowing a fundraising account that supports violent crime violates the GoFundMe terms of service, you might want to write and let them know. 

I absolutely will update this as soon as I know one way or another. 

I share this today largely because there has been so much going on in the past year that I honestly haven’t been keeping track of Mr. Ackman as he consolidates more commercial power. It reminds me that I still think he bears watching. 

As if there aren’t enough things these days that bear watching.



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  1. Julia A. McCreadyJanuary 12, 2026 at 4:01 AM

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