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Exactly what I was thinking! Basically forces them to decide how serious they are about the deal!
This stock is so juicy!
Cant say its rumors when it's on paper!!! Court paper at that!
JCP trading sideways is another way of saying people are accumulating and loading! Dont mind sideways trading at all!
Look at the chart for shldq last year before it went to $2+ and compare to JCPNQ now. Chart looks very similar to what happened before the big run!
Jcp looking good here! Beautiful week of accumulation!
Mine set at 11!!!
Picked up more!!!! Love me some .32s!!!
I don't know who this Dave guy is. It's obvious he is not leading the charge. We already are! If he does show up he's a little late to the party! Better late than never though!
Actually I averaged down over time. Now time to get it back to where it belongs!
Investors getting their value back on a devalued stock is apparently unfortunate to some. I feel very fortunate though
I'm still green! Puke that up!!!
Last big run sent us in to the 60s! Next one will be even stronger! 80s to dollars!
Up 16 percent from where I averaged down a while back. Definitely not losing here. JCP continuing to go up! Looking great! New run forming!
Still up 16 percent right now!!! Looking great!!! Power hour gonna be fun!
Simon Property Group stock is down more than 50% this year, as coronavirus shuttered many of the mall owner’s properties across the U.S. Now some are wondering if it might buy one of its key tenants.
J.C. Penney (JCPNQ) stock has slid more than 65% this year, and the company filed for bankruptcy on May 15. Since then, reports circulated that privately held Sycamore Partners—which recently terminated its agreement to acquire a majority stake in L Brands’ (LB) Victoria’s Secret—andAmazon.com (AMZN) might team up to buy the department store. As BTIG analyst James Sullivan notes, the duo successfully did so with Aéropostale, so it could make a go of it again.
More recently, however, there have also been reports that Simon Property Group (SPG) may want to purchase J.C. Penney. Sullivan notes that J.C. Penney has outlined plans to close 154 stores, none of which were the 63 locations in Simon malls. Just one was in a Macerich(MAC) mall, out of 27 possible candidates.
Yet, Sullivan notes that mall anchors such as J.C. Penney have historically operated with very low occupancy costs—he estimates around 3.2% of annual sale per square foot. “That occupancy cost level is approximately 25% of the occupancy cost per foot for the much more productive specialty retailer segment which typically provides more than 95% of the annual revenues of A-Mall REITs,” he writes. “That very low productivity and occupancy cost is a key reason why Mall owners can re-tenant anchor boxes that it recovers from department stores so profitably.” Other big-box players can pay four or five times that cost per square foot.
So even if the deal were to go through, Simon may not be as interested in saving the locations at its own malls
https://www.google.com/amp/s/www.barrons.com/amp/articles/heres-why-a-mall-owner-might-want-to-buy-j-c-penney-51592406449
Jcp so undervalued right now!
That is awesome news!!!
Looks like she's getting ready to run!!
Looking good here! Holding nicely
Lol. Shorts trying so hard but failing! Get ready!!!
Lol shorts in full attack mode I see. Nice try! They cant keep this thing down. Crew gearing up to buy more!
Right. By July 14th they are wanting to submit a resolution regardless of what it is. Whether it's a buyout deal or splitting off the real estate or a mixture of the two . That said, as fast as they are trying to get this done, theres no telling how quickly they move this along. Seems like the judge is very open to speeding up things for them.
"As a condition to receiving an award under the PCP each recipient must agree to waive his or her right to participate in the company's fiscal 2020 annual bonus plan and/or receive any long-term incentive awards for fiscal 2020, as well as forfeit all of his or her outstanding equity, equity-based or other long-term incentive awards," the company said.
The company said the executives will have to repay 80 percent of the bonuses if he or she is fired for "cause" or resigns without "good reason" before the end of next January. They also said 20 percent of the award "is subject to repayment if specified milestone-based performance goals are not achieved."
You were on this board when the compensation package was put out. If you cant remember then go back and look at it. It's all part of the compensation plan. If they didn't meet their goals then they had to give back the shares.
I was in SHLDQ. There was only 1 person to save Sears. Fast Eddie. Here there are multiple options. No reason this should be this low at all
Yeah I sold in the dollar range back then cause I needed the $$. Wish I could have just held! Staying in JCP as long as I can though. Some people dont believe it's possible. But there are many charts out there that prove it is. We definitely have a winner here!
I get how big a deal this is!!! I'm stoked!
Nice!!!!!!!!
Shareholders come before non shareholders. That's all I care about! JCP's a no brainer!
Exactly and it's the prime time for active wear. Also in doing this, that's 80 million dollars worth of merchandise that's not going into a competitor's hands!
Being discussed in court room
That is an awesome deal and proves JCP here to stay. They wouldn't make that deal if they weren't going to stay in business
Major mall operators Simon Property Group Inc. and Brookfield Property Partners LP, along with Authentic Brands Group LLC, are in talks to buy the bankrupt department store chain, Bloomberg News reported Monday. This coalition has taken similar action before, rescuing teen clothing retailer Aeropostale several years ago and, more recently, buying fast-fashion mainstay Forever 21 out of bankruptcy. However, J.C. Penney should approach such an arrangement with caution, because it’s going to be uniquely difficult to make this one a win-win situation.
https://www.google.com/amp/s/www.bloomberg.com/amp/opinion/articles/2020-06-15/j-c-penney-faces-tricky-rescue-by-simon-brookfield-authentic
2. Counsel is hereby requesting service at the foregoing addresses of (i) all notices
and papers referred to in Bankruptcy Rules 2002, 3017, 9007, 9010 and 1109(b), (ii) all notices of
hearings and entry of orders, (iii) every order signed in this case, and (iv) every pleading or report
filed in this case, including, without limitation, schedules, statements of affairs, operating reports,
motions, applications, complaints, demands, requests, petitions, plans of reorganization, disclosure
statements, answering or reply papers, memorandum briefs in support of any of the foregoing and
any other documents brought before this Court with respect to these proceedings, whether formal
or informal and without regard to the means by which they are transmitted or delivered.
Neither this Notice of Appearance nor any prior or later appearance, pleading, claim, or
suit shall waive any right of Simon Property Group, Inc. and its affiliates (1) to have final orders
in non-core matters entered only after de novo review by a District Court judge, (2) to trial by jury
in any proceeding so triable in this case or any case, controversy, or proceeding related to this case,
(3) to have the District Court withdraw the reference in any matter subject to mandatory or
discretionary withdrawal, or (4) to any other rights, claims, defenses, setoffs or recoupments, under
agreements, in law, in equity, or otherwise, all of which rights, claims, actions, defenses, setoffs,
and recoupments are expressly reserved.
Looks like Simon is stepping up to the plate! This isn't "tire kicking" anymore Judge!
NOTICE OF APPEARANCE AND REQUEST FOR SERVICE OF NOTICES,
PLEADINGS AND ORDERS
Michael M. Parker, Jason L. Boland, and Howard Seife of Norton Rose Fulbright US LLP,
counsel for Simon Property Group, Inc. and its affiliates, file this Notice of Appearance and
Request for Service of Notices, Pleadings and Orders, and in support thereof would respectfully
show the Court as follows:
1. To exercise rights to appear and be heard under the Bankruptcy Code, Simon
Property Group, Inc. and its affiliates, through Counsel or as otherwise required, must receive
proper notice of hearings in this case, as well as service of all notices issued and pleadings filed
herein. Accordingly, Counsel requests that all notices given and pleadings filed in this case be
served upon Counsel at the following address:
Michael M. Parker
NORTON ROSE FULBRIGHT US LLP
111 W. Houston Street, Suite 1800
San Antonio, Texas 78205
Telephone: (210) 224-5575 | Fax: (210) 270-7205
michael.parker@nortonrosefulbright.com
Jason L. Boland
NORTON ROSE FULBRIGHT US LLP
Just read an article that says Brookfield creates a 5 billion dollar fund in April "to partner with companies and entrepreneurs that can draw on our capital and expertise to stabilize and grow their business"
Our JCP in mall is one that was staying open so I dont have any around me that were closing
Game changing if true!!!!