Berkowitz to Einhorn: Re St. Joe

“If we were able, we would buy the whole company,” Berkowitz told Reuters. Einhorn “has put a big spotlight on this company. My advice is everyone should enjoy it and take advantage of it.”

Berkowitz said: “If David wants to create an asset at a cheaper price for me to buy, thank you.”

In response to Einhorn’s lengthy presentation, Berkowitz had this to say: “he [Einhorn] came out with a large presentation which pretty much said, “St. Joe is swampland.” He’s been saying that for a couple of years now, hasn’t he? There’s nothing new in that.”

According to, Berkowitz has a standstill agreement with St. Joe’s management that prevents him from buying more stock, but he would like to open discussions with management and other parties regarding a buy-out.