This assignment analyzes the financial performance of two real estate companies: Vornado Realty Trust and Westfield Corporation. It compares their shareholder value, debt management, and executive compensation strategies. The analysis highlights key differences in their financial reporting, suggesting that investors might prefer Westfield Corporation due to its better asset-liability ratio and higher equity proportion. The assignment concludes with consulting recommendations for Vornado Realty Trust, focusing on reducing issuance costs and leveraging debt effectively.