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J. C. Penney Company, Inc. Message Board

  • lancer2k lancer2k Apr 19, 2013 11:48 AM Flag

    Ackman is no stranger when it comes to...

    ...companies that eventually go bankrupt. The following quote is from a Bloomberg article, "Ackman Sees J. C. Penny Losses Crossing $650 Million", published on April 9th:

    "Ackman, who has made several investments in retailers through Pershing Square, has seen some bets in the industry fare poorly. In February 2009, Ackman sent a letter to his clients telling them that a $2 billion fund he had set up at the time to invest solely in Target Corp. (TGT) had lost 90 percent of its value. Pershing Square owned 31 percent of Borders Group Inc. when the bookseller filed for bankruptcy protection in 2011. Ackman didn’t return calls and an e-mail seeking comment. "

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