General Growth Properties
Status: Filed for Chapter 11 in April.
Revenue: $3.4 billion
Debt: $27 billion
Summary: The second-largest shopping-mall owner in the country - its properties include the Grand Canal Shoppes at the Venetian in Las Vegas - General Growth has another $3 billion in debt payments coming due later this year that it can't refinance because of frozen credit markets. Activist investor Bill Ackman, who controls 25% of the company's shares, is still a believer: "It's a great company," he says. "It's got phenomenal assets." (For more on Ackman, see "Taking Aim at Target.")
NEXT: The Greenbrier
