Replies to post #31746 on Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[TenKay]

That’s not how it works. I think people don’t understand that a “buyout” if it occurred would be part of the re-organization and could happen with ZERO going to the shareholders if the amount is insufficient to cover ALL of the creditors claims AND pay off the notes.

And at the moment there is nothing to suggest that can happen.

[StihlsawsRule]

You're not getting 'bought out' because sussberg just played his weak hand with his dipsht football analogy and HIS big, bad RED ZONE strategy failed. Potential buyers continue to lowball, and he cant move them. Think Walmart and Amazon, still wanting to get this for nothing. They might yet.

So here is how it goes. A total bullsht 'valuation' hearing in 30 days, where Jones will continue to be an advocate for sussberg/debtors, and they will both be SO SORRY, but equity just IS NOT 'in the money'. After all the demagogue in charge just told you about his gigantic 70k people balancing act, and that is sacrosanct. Well, not really, but it sounds good so he goes with it. In truth I bet he doesnt give a fat rats ass about what happens to the employees.

Jones just telegraphed the ending if you know how to read the slow curveball from him. Believe it or not, the market is getting this right. No more reason to assume there will be a recovery, regardless of what Okin/EC/Niko does. The case controller just had the audacity to tell a shareholder that if the status-quo doesnt continue, JCP liquidates tomorrow. Yup, the sidewalks roll up with $1.48 billion in cash plus all other assets on hand, if the debtors arent allow to continue this sham. Best of luck folks.