did ullman LIE to the market about JCPQs need to raise capital ? Yes or No.
I bet not ONE of you bagholding cheerleaders has the guts to fess up, and just answer YES. Because that would be telling the truth, and fantasy world baggies here simply cant do that.
it is tricky i will admit...
"he said he didn't need to raise" whether or not someone strongly persuaded him to..
is the part of the story we will find out at a later time....
however the bottom line is, in order to "bring in talent"
you have to lure them in with cheap stock and cash...
take this guy from sachs.. he will have a very nice package to create shareholder value..
jcp does require all corner office men/women to be deeply embedded financially to the company .ie. stock options etc. . look it up
that's why our yahoo board here is filled with former employees/executives that were killed/like me in..
what i describe as the "greatest destruction of wealth/brand by any one ceo/board"..
all this may change....
Sentiment: Strong Buy
sorry about your losses there James, but IMO you shouldve seen this coming when Ackman started making noise about all this. If you were locked up and couldnt sell,,,well then that just sucks, sorry about your luck there man. IMO the longs here have one KILLER SHOT at a REAL turnaround. FIRE the fraud now, take whatever 1 or 2 day consequences come from it, then roll the dice from there. This market will not forgive this CEO IMO.
cant agree with you on that. GS has/had alterior motives with the poison financing they gave here. Its typical Vampire Squid MO. Zerohedge had it right IMO. Positioned themselves among the senior secureds, then fraudulently acted like a friend of long shareholders. When ullman made those remarks, surely they had already inked the secondary deal with GS. that doesnt just happened in 24 hours, sorry. Didnt 'need to' yet 1 day later they did, blindsiding many buyers. call it what you want, many of the class action lawyers and participants call it 'lying fraud'. I agree with them. The CEO knew what he was doing, trying to pump the stock by saying that, KNOWING that he was lying, and that he DID need to. Otherwise, NO NEED to do a secondary offering. Simple as that. This is why you are mired in the $7s now, and not in the $10s.
do a search on this "jcpenney-throws-cnbc-under-bus-says-ceo-was-misquoted". It will return quite a bit of info. It will be very difficult for any lawyer group to tie Ullman to that quote. GL with your short.