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Air Force is running out of time, patience, and options IMO. Its very telling when news gets out that AF pilots will not fly the new KC-46 Pegasus due to tools and trash being left in brand new aircraft. Boeing should look in the mirror and be absolutely ashamed of themselves.
All that in mind, the new buyers know exactly what is going on with Tempus/TriStar, and exactly what they're getting here. They needed a little push and finally got it IMO. At 45 cents ladies and gentlemen, we are still at a market cap of what? Around $12 million? LMAO cant wait to see real buying pressure here, along with realistic valuation. No dilution, no fundamentals have changed.
Absolutely golden! Like our own crystal ball of liftoff!
LMAO once again we got the penispincher POP!
OT Hertz/HTZ halted. How in the hell does anyone get away with diluting shares during a bankruptcy? The SEC has a problem with it all of the sudden. Hey Soltau, why not? Raise some cash. HTZ was allowed to do it! LOL I hope no one bought that absolute garbage in the $2s. You would be better off here at 36 cents IMO.
Mine are locked at $9.50 all accounts.
I would say, we got someone's attention. DONT GET SCAMMED BY THE ALGO'S!
Remember how thin this is, they do not have big supply of shares.
More good news heading into Wednesday,,,,
https://www.thedrive.com/the-war-zone/34120/the-five-ways-the-air-force-says-it-could-pursue-hiring-private-aerial-refueling-companies
Read the whole article,,,could be a 'new lease' in our future,,,
Yeah, sure. ALL ya gotta do is get out of Davey Jones' locker first. BTW, did Davey deep 6 you guys again today, or what? I didnt listen, dont know if there was a hearing or not.
Cramer LOL! I guarantee you that flaming leftist hypocrite is trading JCPNQ and HTZ like a freak. Its nice to be a CDNC assclown and get inside/front running tips from the vampire squid trading desk.
Large Green, the easiest way for Bezos IMO would be to just offer the estate a stock swap that includes the shareholders and junior creditors.
Ive said it before. He should offer to either pay or assume the $4 whatever billion in JCP debt, and offer current longs 1 AMZN share per 2500 JCP shares, putting JCPNQ at $1. Opening offer, and he could make it his only offer. Like a 'take it or leave it' thing.
Im not seeing $11 per share based on the '16 valuations, going thru Judge David R. Jones.
Large Green NAILED IT!!! However, the 'same old scam' has been 'found out' many times before and nothing ever comes of it. BK judges are federal and many are corrupt IMO, Just like the corrupt shysters that legally steal in these cases, also IMO.
Chapter 11 is too much power in the hands of 1 person. These judges bring their political and personal bias into the decision making process, thats why this scam continues to happen over and over and over again.
Truth Mark, that is true. The EC will have to keep pushing Sussberg for full and fair disclosure of the 'offers'.
I dont believe that guy for 1 second. IMO he is the typical debtor attorney, trying to unload as many 'lowers' as he can in favor of senior creditors and bondholders. SOS
Sadly it wont be granted. Jones already denied the other dismiss motions, and he will not be granting any such motion. He is on the side of the debtors and that will not change. If you have listened to him, he has made that abundantly clear.
The motions indeed have merit, but that doesnt matter to Jones.
I did too, but that was the fault of JCP and its years of failure and insufferable arrogance. It had been realistically heading for chapter 11 court for years now. The Johnson debacle was simply too much to overcome.
Now that all that is in the past,,,,the chapter 11 filing was the first I had ever seen and heard of this 'good bank bad bank' idea of splitting the company.
That shouldve made the back hair on everyone stand up, and I think it did.
It sure as hell got my attention, and thats when I changed my mind and decided it was time to buy here. It tells you there is real estate value, and perhaps even more value. Sadly it took bankruptcy to flush it out.
Watch how hard Sussberg and the debtors will try to keep all the 'negotiations' hush hushed and secret. That alone is a dead giveaway that they are hiding, or trying to hide value. Same chapter 11 scam plan, it never changes.
I will keep pounding the table for a FAIR AUCTION. You guys must push Jones and Sussberg on this until it happens or at least until the debtors bring the process into the sunlight.
LargeGreen, Amen to that.
If there is no full and fair disclosure of ALL OFFERS PUT FORTH in Davey Jones' locker, then this will be another one of his typical bankster establishment rulings at the end of the day. If that happens, he will deep6 shareholders again. Oh, listen guys, it wont be the first time he has done it.
ALL THAT SAID, Shek and Niko, and the longs et.al. have done a superb job up to this point as far as representing equity as best as humanly possible in court. Im still in shock that Jones allowed the neutered EC $250k outcome that he did. The GOOD NEWS, he let the door stay open, and equity still has a big foot holding it open for now.
NOW THEN,,,,$11.85? Yyyyyeah NO Im not seein that under any scenario. Assets vs. Liabilities with any balance sheet,,,,,OK the debt at $4.9 billion is rock solid and undisputable. The assets at $8b or whatever,,,totally subjective as Jones says, and he is correct about that.
Again this is 'BOOK VALUE' not necessarily real true market value. Correct again Your Honor.
All that in mind I-man, Niko, Shek,,,bind him with his own words. IF THE GOAL is to TRULY 'maximize value' for 'all stakeholders' (right Mr. Sussberg?), it seems the only FAIR WAY to do that is to conduct a true live auction. Right Judge Jones? Or will it be more 'sealed' back room dealing? Time will tell.
To summarize, I personally would love to see you guys open Monday morning at $11,85. I truly would. I dont think it will ever happen, but I would be the first one doffing my hat and toasting you guys. For real. It would be nice to finally see illegal big institutional shorts burnt to the ground, never to return.
Note to I-man,,,I dont 'short' anything. Never shorted JCP. Bought puts and calls many times, and won some lost some. If something is a POS, I buy puts, period. Simple as that.
BOOK VALUE. Dont forget the way Davey Jones went on and on ad nauseam about book value versus real/true market value. He did that for a reason, and that was to once again firmly plant his lips on the ass of the estate. Never forget the kind of judge he is, shareholder unfriendly. Allowing the soft EC that he did is not exactly pro-shareholder. It was his attempt to hopefully fend off shareholder lawsuits.
Its why I suggested the EC/shareholders should motion for an open auction of the entire company. Not in closed negotiations, in broad daylight for all to see and hear.
LMAO OUCH! Thats gonna leave a mark. Basically true though, Jones allowed a mostly toothless AD HOC EC.
I hope the EC guys get ahold of Sonia Chae at the SEC and tell her that a similar pattern is taking place here that happened with McDermott. The CEO/insider bonuses were much smaller, but still undeserved.
The REIT/ongoing dog retail business proposal shouldnt fly either without shareholder approval.
Bob, dont forget how those despicable lying criminal frauds rosen and starke said the same thing during the WaMu stock pumping period, up until that first scamjob confirmation hearing where all preferreds and commons tanked hard as soon as rosenfraud opened his cockholster.
THEN,,,as Im sure you recall (I recall it like it was yesterday), the shyster told WalRat that 'the debtors' TRIED AND TRIED AND TRIED SO, SOOOOO HARD, but there was just 'NO MONEY/RECOVERY' left for shareholders.
The same will happen here when the rubber hits the road, thats why Im telling these guys not to trust Sussberg, et al. They are working for the creditors, and dont really give a fat rats ass about the shareholders, WHOLE TRUTH told.
Right. AND as of right now, there is no 'deal.' As such, its not being 'sent' anywhere until there is a deal. If you feel so strongly about it, why arent you buying it up to 50 cents or a dollar?
OH BOOM and look at that! Another 200k sell block at .399, like magic. My whole point was, pinksheet PRO MMs can stay fraudulent longer than any buyers can spend real money. You're welcome in advance.
Lion, that is the right approach, but this isnt hitting dollar land until and unless something 'gets real.' Right now, there is only speculation as to 'buy out' or anything else.
Look how hard new shorts are walling off 40 cents. You need something huge and real to break out from here.
Fear not gentlemen. Jones approved McDermotts joke plan on March 12 after only 2 months in chapter 11, and 'wiped out MDRIQ shareholders.' MDRIQ was just under .02 that day, now its at .15, and has been to .20 recently and its not exactly 'cratering.'
That is when Jones made his notorious 'shareholders lost their money a long time ago' statement (showing what an Ahole he is IMO).
So even if Sussberg and the debtors are able to ram the scamplan down your throats, JCPNQ stock would live on for a long time IMO. MDRIQ will, litigation against the McDermott insider frauds that told large shareholder NOVA SCOTIA everything was fine and DONT SELL is ongoing.
Perhaps its time for Niko and Mr Shek to call Sonia Chae at the SEC.
Why not use a crashed omega B707 flying fossil? Burns much longer and brighter.
I figure thats what a greedy leftist scumbag like jeffy wants. Just wants to cherry pick, never wanted to pay real money IMO.
He already denied the Motions to Dismiss. These judges are basically power trippers at heart, no matter what they say in court.
It will not be dismissed, sadly. EVERYTHING must be approved by Jones, or it wont see the light of day.
Mark102,,,if Mr Sussberg or any other interested parties have a better idea, I would truly like to hear it.
Its just an idea, I doubt it will ever see the light of day. Perhaps Niko should ask whatever attorney he hires?
Its not opinion to ask the debtors to keep their words. Dont ya think?
Mark 102, you have heard of an auction, yes? Thats what Im asking the debtor to consider.
The Judge lectured everyone on fair market value, and he is correct. So, lets find true fair value right here, right now. June 2020. Mr. Sussberg said thats what he wants.
Mr. Sussberg, you said in court that you are working very hard to see to it that shareholders see a recovery, IF possible.
I will say that I find that to be highly questionable, given that the debtor chapter 11 petition plans to erase shareholders and junior creditors.
So knowing what is in the public eye as of now, and if you sir are TRUE to your word, why not petition the court and move to a fair, transparent OPEN auction conducted by Judge Jones?
After all sir, you claim to be working hard to see to it that all classes see a recovery.
Wouldnt it be in the best interests of all bondholders, creditors, and shareholders to get maximum value for the existing JC Penney Inc.?
Several investment firms lined up to provide DIP financing, and the proposed 'split' into a REIT and the continual ongoing retail business tells everyone with half a brain that there IS LIKELY 'hidden value' in the encumbered and unencumbered company real estate.
Why not bring Amazon, Sycamore, Simon, and all other interested parties TO THE TABLE, in the LIGHT OF DAY, and conduct a fully transparent auction for the entire company?
How about the bidding starts at $330 million ($1 per share), and all interested suitors have their reps bid until we have a clear, transparent winner? The winner agrees to assume all existing debts/covenants as currently written. The winning bidder must be able to make suitable payment to the court (or whomever) within 30 days of auction closing...wouldnt that be,,,fair? If not, then what?
Sounds FAIR to me, no more media manipulation, no more backroom deals.
Isnt that what you and the debtors want Mr. Sussberg? Maximum value for the company and its 85k employees, and all stakeholders?
I dont know if this approach has been used for a retailer of this size, but what BK law or rule would prevent it? Bankruptcy judges are federal judges with a wide range of power and latitude. Judge Jones rightly made a point of telling us about realistic fair market value. Would there be ANY better way of attaining true fair market value in this current environment? If there is a better way, please tell us sir, what is it?
FELON BOY! Have your bosses crashed any B707s lately? Asking for a friend.
Dear All, when pennyparasite the inside trading OAR shiller shows up, its usually good news for us.
AD HOC EQUITY COMMITTEE APPROVED, Motion to Dismiss denied. EC gets a $250k funding by the estate, as Jones says not a war chest.
JCPNQ appears to have stabilized at .51 on the news. We shall see what happens next. Trust Sussberg and the estate at your own risk, IMO he is not trustworthy, nor is any other creditor counselor.
So, call that 1 outta 2 for today. Not bad, no crash. GLTA
It was indeed a good gamble. And since Soltau was unsuccessful renegotiating with bondholders, it was a way to force them to the table.
It definitely got their attention.
Now since JCPNQ is here, and with THIS judge, Heaven only knows what will happen. I told I-man a month ago that I hoped longs didnt get Davey Jones, but again here it is.
All that being said, the bankruptcy has flushed out value here that seems to have been hidden or buried in the hideous JCP financials all these years.
What changed MY mind, was when the filing proposed this 'good bank, bad bank' bullshit approach, splitting the company into the ongoing retail (still a disaster IMO), and a REIT that would lease back to the retail company. DING DING DING! We now know where the real value is, and guess what 'equal half' the debtors and their owners are trying to make off with? Yuuuup.
Bob, it wont be WAMU revisited, as we knew WM and the WMB were deep IN the money. Not the same with JCPNQ, although the lawyer/debtor script remains the same, as it has to (bankster shills always try for massive theft IMO).
JCPNQ on track for a ,,,kinda,,sorta win here with Jones. IF, and its a big if, he doesnt change his mind in the next half hour. NOW, do you guys see what Ive been trying to tell you about this judge for weeks?
Again, you are just hearing what you want to hear. Did you hear his reasoning for tossing the Motions to Dismiss? "Because the DIP financing would go away." LOL seriously? Nice dodge. Look at all the people stepping up to bid/buy or finance outside of the court! LOL too easy to see whats coming. IMO no approval today of an EC, just more sophist long-winded BS. Wait for it.
He just 'wants consent' and for 'everyone to be included' before the back knife goes in.
You're not listening close enough. Just a bunch of sophist bullshit as he tries to find ways to avoid approving EC, and talk shareholders out of what they want.
And now,,a 20 minute BREAK! LOL wow. He wants a toothless EC with no power, so that the FK job can be justified, and that the debtors get what they want. NOW are you guys finally starting to see the truth about Jones?
Believe the creditors at your own risk. They are running the same script, it never changes. But fear not, they are here to help shareholders in any way they can. Like giving you nothing. Right Sussberg?
LOL JONES just wasted 10 minutes with BS semantic sophistry as per the code 1128/1129 basically IMO appearing as a witness FOR the debtors! OK, he KNOWS the BK code!
I told you guys this Judge was not shareholder friendly, continue to listen.
SO far, these shareholders are doing an excellent presentation. If Davey Jones would STFU and let them finish, he might get the answers he CLAIMS he wants. Wow.
Davey Jones' locker,,,,,lets see how he rules on these.
I didnt either, look on Judge Jones personal page on the SDT BK site. Its on his agenda for todays hearing. Clearly says EQUITY COMMITTEE and MOTION TO DISMISS, 9am central time today.
I will be listening, I suggest you do the same.
IF he denies both, be quick on the sell button.
Yes, they could be. Historically Jones is a not a shareholder friendly judge. If he rules against the EC, be ready to sell and wait for the share price to settle.
The Motion to Dismiss, a whole different thing. Will have to see how he rules and what the details are.
HUGE! Judge Jones schedule says todays hearing is to discuss the equity committee, and a MOTION TO DISMISS!
I suggest all longs call in and listen to the hearing. Get a feel for what this Judge is all about in Chapter 11 hearings.
The call in info is listed on the southern district of Texas bankruptcy court website.
If you feel its important enough, you will dig and find it. Dont wait for people to post stuff on message boards, do your own leg work.