Ceding control of the company last week to investor Bruce Berkowitz of Fairholme Funds does nothing to solve the company's basic problems: a weak real-estate market in the Florida Panhandle best known to boosters as the Emerald Co
The St. Joe Company (JOE) is down 3.87% to $26.36 after Barron's reported that the landholder and developer, which owns vast tracts in the depressed Florida Panhandle, faces doubters and short sellers.
