General Growth Split (GGP, HHC)

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Today is the first day that General Growth Properties (NYSE: GGP) is trading as two separate entities.Yesterday after the close of trading, the GGP old GGP emerged from bankruptcy after filing back in April 2009 in one of the largest real estate bankruptcies in U.S. history.Today, investors as of November 1 will see shares of "new" GGP in their account, as well as Howard Hughes Corp (NYSE: HHC) in their account.General Growth going forward will operate as a REIT, owning 183 malls around the country. Howard Hughes will act as a special real estate development company, with interests in the South Street Seaport, Summerline in Las Vegas, amongst many other properties.

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