Question-and-Answer Session
Operator
(Operator Instructions) your first question comes from Jay Habermann - Goldman Sachs.
Jay Habermann - Goldman Sachs
Here with Jon, as well. Bobby, can you comment a bit on the same-store sales trend and just how you think that might impact rents?
Robert Taubman
Well, obviously as sales go down, occupancy costs go higher and we do get push back from retailers. I mean, they’re trying to figure out where they’re going to allocate their precious capital, their managing their companies for cash and they’re going give us some push backs, but the retailers need to be in our centers and all of that is in our outlook as we have discussed this with you.
Jay Habermann - Goldman Sachs
Then I just want to switch gears for a moment and talk about Asia and the Macao deposit. Is that still on plan for return this August?
Robert Taubman
Yes, it is.
Jay Habermann - Goldman Sachs
So there’s no further change in terms of the financing or any other contingencies that the plan is to have that $54 million returned at that time?
Robert Taubman
Yes, Jay. I mean obviously as we have said, Macao is a perfect example of a project that was a terrific project that is, the financial crisis has impacted. It is unlikely to find financing in this year, in 2009. We’re hopeful that in 2010 there will be a market that will allow financing to occur, but we don’t know.
Our money comes back in August. We still like the project, but when the money is available and the possibility that being built is there, we will then make an assessment about us going forward with the project.
Jay Habermann - Goldman Sachs
Then can you talk about obviously GDP and you mentioned some perhaps some impact to your malls, can you give us any indication of perhaps how that filing might impact your centers?
Robert Taubman
Well, I think we are all trying to understand the impact of the bankruptcy on how assets are controlled, how assets are used as security for debt and they’ve been very deliberate in the way that they have made their filings. General Growth has great assets. If some of those assets at some point become available obviously we would look at them, but we’ve been very consistent that liquidity is very precious in this environment and we’re going to be very selective about what we do.
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