Charts: Bloomberg
Posted on 08/05/2013 11:01:17 AM PDT by Perdogg
It would appear that in the order of who knows what when, in the case of JCPenney, it is C-level executives first, credit markets second (was Goldman's line a pre-DIP?), and equity shareholders (Ackamn included) last. With the torrent of executve departures in the last year, credit market investors led the equity over the past two weeks as credit lines were (allegedly) pulled. Today's 50bps rise in JCP's 5Y CDS pushes the company's risk of bankruptcy to its highest ever (arguably higher than 65% over the next few years given the secured assets). JCP's stock is down 2% on the day but still holding above its April (and 2009) lows (for now).
Charts: Bloomberg
‘Tis a shame. I used to love JCP but then they went pro-queer, pro-lesbian, and anti-family and I went elsewhere.
I feel sorry for the clerks and managers who will be out of work if they go under.
Yep...
And they certainly didn’t GAIN any new customers when they lost you.
Most homosexuals wouldn’t be caught dead in what JCP considers “Fashion”.
Kind of like Zappa’s line “Is that a real poncho or is that a Sears poncho”?
so....does this mean I don’t have to pay off my JC Penney charge card? (low info mode OFF)
Libs destroy everything they touch.
If I ever join the Screen Actors Guild and need a screen name, I think I’ll give “Sears Poncho” some serious consideration.
“Libs destroy everything they touch.”
They sure do! :)
True. Sort of like how the Republican Party is courting illegal aliens from Mexico...
Back in the 60s I actually ordered an FN model 1949 surplus battle rifle through the mail from JC Penney.
I also can remember when Sears had a large stock of guns. I think Montgomery Wards may have been the last of the major retailers to carry guns.
I remember looking through a JCP catalog from around 1900 or so, it was very interesting the many, many things you could order. It was a big deal back in the day before they went all weirdo
The only important thing is: Do they have enough money to continue to pay Ellen?
If I shopped at Penney, I don't know whether I would trust them to still be in business between when I handed them money and when they gave me back change.
Yes.
It is incongruous and insulting to the base.
Since they’re on the verge of the cliff anyway and have nothing to lose, I offer this challenge to JCPenney:
Renounce your slavish support of homosexuality. Publicly. At least as publicly as you endorsed it. Promise a return to the values that made you successful to begin with. Then wait six months and see if your sales increase. if they do, stick with the Normal market. If not, declare bankruptcy and go down the drain with your homo buddies.
After I got done chuckling....I said, "Hmmmm. This is an idea that might work."
Never Happen, though. Folks in charge of JCP are likely scared stiff that someone at their Thursday-after-work-wine-and-cheese parties might call them a bigot.
“If I ever join the Screen Actors Guild and need a screen name, I think I’ll give “Sears Poncho” some serious consideration.”
If you ever start a band “Creepy and the Ass Crackers” is also a cool option.
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