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With J.C. Penney Struggling to Write Itself, Enter Soros (Another reason to boycott)
Forbes ^ | 4-25-13 | Forbes

Posted on 04/25/2013 2:12:57 PM PDT by Marathoner

Legendary investor George Soros‘ Soros Fund Management has taken a 7.9% stake in the retailer, according to an SEC filing Thursday. The news sent J.C. Penney shares higher after-hours, up 6.6% to $16.25. At that price, Soros’ holdings are worth $283 million.

Soros, who famously “broke the Bank of England” in 1992 as part of a group that heavily shorted the British pound, owns just under 17.4 million shares of J.C. Penney, according to the filing. His stake puts him among the retailer’s five largest shareholders.

(Excerpt) Read more at forbes.com ...


TOPICS: Business/Economy
KEYWORDS: auschwitzbirkenau; budapestdeportations; collaborator; economy; hungary1944; jcp; jcpenney; kapo; nazi; nazicollaborator; retail; soros
Well, no more JC Penney stuff for me, not if that bastard has anything to do with it.
1 posted on 04/25/2013 2:12:57 PM PDT by Marathoner
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To: Marathoner

Was that really the headline? Write?


2 posted on 04/25/2013 2:17:00 PM PDT by Defiant (If there are infinite parallel universes, why Lord, am I living in the one with Obama as President?)
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To: Marathoner

Soros also shorted the Russian Rouble. There is still a warrant for his arrest in Russia, but we don’t have an extradition treaty, or that’s the excuse the Russians give. Likely there are some high-up officials on the take from Soros.

He also shorted the French Franc. Had to pay a $100 million fine. It was chump change compared to what he made on the deal.

Meanwhile, the common people who depend on the value of their money saw their purchasing power diminish accordingly.


3 posted on 04/25/2013 2:18:39 PM PDT by Westbrook (Children do not divide your love, they multiply it.)
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To: Marathoner; humblegunner

Spel fale.


4 posted on 04/25/2013 2:18:53 PM PDT by don-o (He will not share His glory, and He will not be mocked! Blessed be the Name of the Lord forever!)
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To: Marathoner

5 posted on 04/25/2013 2:19:13 PM PDT by jimbo123
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To: Defiant

The daily struggle for correct English on FR.


6 posted on 04/25/2013 2:19:16 PM PDT by kabumpo (Kabumpo)
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To: Defiant
Was that really the headline? Write?

Uh, no. Unless Forbes just fixed it.

7 posted on 04/25/2013 2:20:58 PM PDT by cynwoody
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To: Defiant

Yep, except for the added in parenthesis.


8 posted on 04/25/2013 2:21:15 PM PDT by Marathoner (Anyone who believes in liberty and the Constitution has almost zero representation in DC today)
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To: Defiant

Nope, checked for myself and there it is spelled “right”.


9 posted on 04/25/2013 2:21:33 PM PDT by ZirconEncrustedTweezers (Some people take there grammar way to seriously.)
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To: kabumpo
The daily struggle for correct English on FR.

Write on, brother! :=)

10 posted on 04/25/2013 2:21:43 PM PDT by Bob
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To: Marathoner
Pay No Attention to that Man behind the Curtain!


11 posted on 04/25/2013 2:21:59 PM PDT by KC_Lion (Build the America you want to live in at your address, and keep looking up.-Sarah Palin)
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To: kabumpo

Well, as my tagline states... :)


12 posted on 04/25/2013 2:22:10 PM PDT by ZirconEncrustedTweezers (Some people take there grammar way to seriously.)
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To: Defiant

“Writing itself”... you know, the JC Penny autobiography.


13 posted on 04/25/2013 2:22:17 PM PDT by Third Person (Welcome to Gaymerica.)
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To: Marathoner

Nope, write should be right. Sorry about that (in a hurry)


14 posted on 04/25/2013 2:23:19 PM PDT by Marathoner (Anyone who believes in liberty and the Constitution has almost zero representation in DC today)
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To: jimbo123

I have a feeling he’ll be seeing a lot of those Jews on his judgment day.


15 posted on 04/25/2013 2:23:33 PM PDT by henkster (I have one more cow than my neighbor. I am a kulak.)
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To: henkster

16 posted on 04/25/2013 2:24:18 PM PDT by jimbo123
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To: Defiant
Was that really the headline? Write?

That can't be correct, if you axe me.

17 posted on 04/25/2013 2:25:37 PM PDT by GreenHornet
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To: henkster

18 posted on 04/25/2013 2:25:42 PM PDT by jimbo123
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To: Marathoner

I’m done shopping at Penney’s.

FUGS, you Nazi-collaborating b@stard.


19 posted on 04/25/2013 2:26:29 PM PDT by MeganC (You can take my gun when you can grab it with your cold, dead fingers.)
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To: ZirconEncrustedTweezers
(Some people take there grammar way to seriously.)

Shouldn't you "loose" the ly in seriously?

20 posted on 04/25/2013 2:27:52 PM PDT by don-o (He will not share His glory, and He will not be mocked! Blessed be the Name of the Lord forever!)
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To: jimbo123

Coming soon to America...


21 posted on 04/25/2013 2:31:13 PM PDT by who knows what evil? (G-d saved more animals than people on the ark...www.siameserescue.org.)
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To: Bob

Yu’ve got two fite, four you’re writes!!


22 posted on 04/25/2013 2:32:56 PM PDT by F15Eagle (1Jn4:15;5:4-5,11-13;Mt27:50-54;Mk15:33-34;Jn3:17-18,6:69,11:25,14:6,20:31;Ro10:8-11;1Tm2:5-6;Ti3:4-7)
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To: Marathoner

Cesar Conda, chief of staff for Marco Rubio, used to work for Soros. Probably still does, he sure does his bidding.
Randy Scheunemann, a former foreign policy adviser to Senator John McCain, also lobbies for Soros.

WHO IS CESAR CONDA?
http://www.freerepublic.com/focus/f-news/3007546/posts


23 posted on 04/25/2013 2:33:13 PM PDT by AuntB (Illegal immigration is simply more "share the wealth" socialism and a CRIME not a race!)
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To: All

Bet Soros is planning on a sale and stock trading up.


24 posted on 04/25/2013 2:33:48 PM PDT by F15Eagle (1Jn4:15;5:4-5,11-13;Mt27:50-54;Mk15:33-34;Jn3:17-18,6:69,11:25,14:6,20:31;Ro10:8-11;1Tm2:5-6;Ti3:4-7)
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To: jimbo123





"Thank you for signing up for 'ObamaCare'.

Please board these trains, quickly,
so you can see what is in 'ObamaCare'.

These trains will take you to 'ObamaCare'."

25 posted on 04/25/2013 2:36:53 PM PDT by F15Eagle (1Jn4:15;5:4-5,11-13;Mt27:50-54;Mk15:33-34;Jn3:17-18,6:69,11:25,14:6,20:31;Ro10:8-11;1Tm2:5-6;Ti3:4-7)
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To: kabumpo

Not so concerned with FR posters as with Forbes. Seeing so many mistakes from formerly very picky organizations. It’s a sign of the apocalypse.


26 posted on 04/25/2013 2:37:10 PM PDT by Defiant (If there are infinite parallel universes, why Lord, am I living in the one with Obama as President?)
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To: Marathoner

Sad that Forbes could miss that.


27 posted on 04/25/2013 2:38:18 PM PDT by Defiant (If there are infinite parallel universes, why Lord, am I living in the one with Obama as President?)
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To: AuntB

Yeah, I’m really disappointed with Rubio. In fact, I fear he’s going to wind up being OUR Obama.


28 posted on 04/25/2013 2:39:30 PM PDT by Marathoner (Anyone who believes in liberty and the Constitution has almost zero representation in DC today)
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To: Marathoner

I think JCP is dead.
Kick it to the curb...


29 posted on 04/25/2013 2:43:52 PM PDT by Eric in the Ozarks (NRA Life Member)
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To: Marathoner

so now soros sells and banks the gain, suckers.


30 posted on 04/25/2013 2:46:47 PM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: Defiant
Not so concerned with FR posters as with Forbes. Seeing so many mistakes from formerly very picky organizations. It’s a sign of the apocalypse.

If the title was copied and pasted, rather than being typed in by the OP, it has since been corrected at the site (or is that sight?).

31 posted on 04/25/2013 2:53:51 PM PDT by Bob
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To: Marathoner

What a shame for a once-fine store.


32 posted on 04/25/2013 3:01:39 PM PDT by faithhopecharity (()
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To: Defiant
Sad that Forbes could miss that.

Except they didn't.

33 posted on 04/25/2013 3:05:02 PM PDT by don-o (He will not share His glory, and He will not be mocked! Blessed be the Name of the Lord forever!)
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To: Marathoner

As a former corporate executive it was always a little daunting to have work with and please important outside investors. In some cases it was rewarding when the investor was likable and willing to have a mutually beneficial relationship. In other cases it could be intimidating when the investor tried to create an atmosphere of dominance and intimidation. I am betting that it would not be fun to work for George Soros.


34 posted on 04/25/2013 3:09:25 PM PDT by Sam Clements
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To: AuntB

Hmmmm....adding to the “list”


35 posted on 04/25/2013 3:10:09 PM PDT by goodnesswins (R.I.P. Doherty, Smith, Stevens, Woods.)
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To: longtermmemmory

Just Cheap Pickins for Soros.


36 posted on 04/25/2013 3:38:20 PM PDT by Average Al
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To: faithhopecharity
What a shame for a once-fine store

Yes, and since we may be writing its epitaph, here's a memory from about 1972, when my best buddy and I were about 13 years old:

The JC Penney just across the street was where we'd sometimes buy 45 RPM hit singles.

One day we heard (probably via radio) that Olivia Newton-John would be appearing at that very same JC Penney store.

We ran over there and ogled her from about 20 feet while she sat and autographed her latest vinyl records, conveniently sold there.

We wanted an autograph, but didn't have the $7 for her LP....

But as a 13-year-old boy, it was worth seeing her.

She was about 24 years old...it was just before her career really took off.

.

37 posted on 04/25/2013 3:41:06 PM PDT by repentant_pundit (Sammy's your uncle, but he behaves like a spoiled rotten kid.)
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To: Marathoner

Is Forbes edited by illiterates? A company or boat can right itself — not write itself.


38 posted on 04/25/2013 3:44:37 PM PDT by WashingtonSource
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To: Bob; don-o

The original poster says that the title was as posted. Forbes may have fixed it since.


39 posted on 04/25/2013 3:59:00 PM PDT by Defiant (If there are infinite parallel universes, why Lord, am I living in the one with Obama as President?)
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To: Marathoner

That is “Right” itself, not “Write.”


40 posted on 04/25/2013 4:04:01 PM PDT by mfish13 (ELECTIONS HAVE CONSEQUENCES!!!!)
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To: Marathoner

George Soros is the hagfish(*) of the financial markets.

Even his name should be George “Hagfish” Soros.

(*) aka “The most disgusting creature in the ocean.”

http://gawker.com/5854166/hagfish-the-most-disgusting-fish-in-the-sea


41 posted on 04/25/2013 4:08:07 PM PDT by yefragetuwrabrumuy (Best WoT news at rantburg.com)
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To: don-o

Hey, nobody axed you, looser!


42 posted on 04/25/2013 4:33:06 PM PDT by ZirconEncrustedTweezers (Some people take there grammar way to seriously.)
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To: repentant_pundit

Ha! Good4U!


43 posted on 04/25/2013 4:43:20 PM PDT by faithhopecharity (()
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To: Marathoner

How tough can it be to write “itself”?


44 posted on 04/25/2013 6:30:47 PM PDT by muir_redwoods (Don't fire until you see the blue of their helmets)
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To: F15Eagle
May very well be a corporate takeover.....between Soros and Ackman and Ventura...they could pull their stock and hurt Penneys really bad.

Take it easy guys..I work there and have watched this before Johnson came on board til now.

I can say our business has picked up at my store since Ullman took over....and the employees are in a far better frame of mind.

I work part-time, but what's amazing is how little the employees know about what's happening in the company....let alone have conversation with any about it.

At any rate this news of Soros is disturbing....he's a bottom feeder when companys etc. are going down.

45 posted on 04/25/2013 7:43:40 PM PDT by caww
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To: F15Eagle

Not so fast...Penneys isn’t done yet...’Marketwatch reports’ BEFORE soros got on board things were improving...

More:

Soros Fund Management disclosed that it owns 17,386,361 Penney shares.

The purchase was ‘another’ vote of confidence for returning Chief Executive Mike Ullman after the struggling retailer ousted Ron Johnson on April 8.

Since then, Ullman’s support appears to have been growing steadily.

Gilford Securities’s Bernard Sosnick, a 30-year retail industry analyst, on Monday ‘upgraded his rating on the stock’ to buy from neutral, as he said ...”Penney is at an “inflection point, moving from danger to a more secure foundation.”

Craig Johnson of Customer Growth Partners, which advises retailers and institutional investors, has told MarketWatch his firm’s store checks showed .....”foot traffic to Penney had been up year-over-year for a full month since mid-March,( After Johnson was fired)... the best since Johnson initiated the turnaround that led to almost $1 billion in losses last year, with a small improvement in visits that resulted in purchases.

Analysts have also said Ullman appears to have a “logical plan” to fix Penney..... He’s also taken steps to reassure suppliers..... To bolster the company’s dwindling cash coffers,... Penney has tapped $850 million from its revolving credit line and on Thursday filed a shelf registration indicating it may sell a mixture of equity and debt securities to raise additional funding.


46 posted on 04/25/2013 7:58:02 PM PDT by caww
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