LG,,,thats a piece of good news for longs. No question about it. Robin Lewis the so-called expert bashing at the end of the article forgets to mention 1 very important thing. Kohl's isn't for sale, JCPNQ is. Pretty much squashes that talking point, like a nasty cockroach.
I maintain that the best thing goin for you guys, is 2 giants that want the footprint just to keep the other from having it. When you have a high value item for sale (at an auction that is), the best thing that can happen is 2 heavyweights fighting over it!
IF a fair auction process is ever conducted (highly dubious at this point given Davey Jones' history IMO), I believe that Amazon is prepared to go at high as $6 billion total, TOPS. They will NOT of course, if not pushed to that threshold. Bezos is not stupid, he wants it as cheap as he can get it. To him, its not about saving you guys or the junior creditors. Its ALL ABOUT HIM and Amazon, period.
The big unknown, HOW HIGH is Walmart willing to go, in order to keep pace with Amazon? Its as if Walmart MUST have it IMO. Bezos could pass on it, no big deal. Walmart can't afford to let him get a steal on it. SO, I believe WALMART will be the winner, somewhere around the $5 billion mark. If that is true, you guys might get .60 to .75 or so, a nice score from 26 cents. Best of luck to you guys, I have no position. Jones bendover from McDermott taught me a lesson about him. I dont trust him at all. Thats my 1 JCP post for today. MOVE FAST if you get concrete news of a buyout above $4.8 billion. Oh,, AND,,,move even FASTER if the price tag is below that!
