Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[StihlsawsRule]

Find out if one of the big boys at KKR is a long. The news isnt as bad as I thought it would be.
Still, the creditors are taking over. IF (and thats a huge IF) they want to take preferreds and commons along for the new ride, you longs may just be in luck.
Then we get to the major issue of,,,,what exactly are they going to do with JCPsoontobeQ going forward? The current business model clearly failed, so they will have to change it up quite a bit.
I will be lookin to buy 10k at a nickel, should the market run it down that far. Thats as much of a chance as I will take on it.