Eddie Lampert of Sears is TEARING THE ROOF OFF with his REIT
Sears! Now talk about a growth stock! What a genius move to forget the operations and just be real estate. What a fool I was to miss the Sears boat! Where will I find an opportunity like that again?
I know where I live, they can't build new malls fast enough. Demand for retail space is on a tear and stores are packed with shoppers. There is no vacancy. Fashion brands will be CLAMORING for space in JCP.
You know what Ron probably hasn't thought of? Putting an APPLE STORE, INSIDE the JCPENNEY. You would not be able to keep the crowds out!
I can see Ron before the BK judge now, in three quarters: Well your honor, in theory, we can pay our bondholders. In theory we're not bankrupt. In theory we were profitable, even though our bank accounts are empty and we sustained operating losses that forced us to shut down for the moment. If you just visualize money in those accounts, we're not bankrupt at all, see.
The recent analyst report on the excessive real estate holdings of JCP sounds and looks like the Sears story. I am sure that this analyst has travelled the states and has a good working knowledge of all the wonderful real estate holdings and their calculated value. The three JCP;s near me are in wonderful locations with nothing in them except a Sears store and some people selling their wears in the mall areas, with stores gone and signs advertising space available, so I am buying this wonderful Reit opportunity and recommend that others jump aboard and take this wonderful ride. Man it should be a fun trip. All the best to all
The malls in central Iowa are full. North Grand in Ames just added 4 new major stores and is expanding. JCP is a corner landmark store. They remodeled. In Des Moines the JCP stores are doing well and in great places. Marshalltown is good, We are agriculture and insurance company based, and did not feel the recession as bad as the rest of the country. I cant speak for the country but I see them doing well.