ProLogis, which launched a risky expansion drive under former chief executive Jeffrey Schwartz, ran into trouble in the fall as a big development pipeline and billions of dollars in debt left it exposed to the global downturn.
Now, the new management of the Denver-based company is scrambling to undo much of that global expansion. It has sold off its Asian operation, a jewel of the global business, and scrapped plans to expand into Brazil and India. Meanwhile debt deadlines are approaching, and ProLogis will likely have to sell more.
Wall Street Journal