Actually JACK is much too small a deal for Ichan himself. Carl might refer such an opportunity to a friend or associate in the business. Position up to 10% of the shares outstanding, tender at 26. and then have a White Knight buy it for 28. This is a can't miss spec for the first savvy person with the bucks to take advantage of such a slam dunk. Anybody counseling against this strategy doesn't know anything about the investment game and may well be eating crow one of these days. Incidentally, the Morgan Stanley Smith Barney analyst has earnings estimates of 2.00 and 2.40 for the fiscal years ending September 30, 2011 and 2012 respectively. That is why this strategy is such a slam dunk. VALUE! I just point this out to show how stupid it is to deny the reality of this situation. Madness I say.
Big J in L.A. (sitting pretty and buying more JACK)