Shouldn't the 1,000 stores JCP has play on stock value? Real Estate has been increasing some 20% over the past couple years, shouldn't that help the value of the company?
JCP real estate is leveraged and does not provide a single penny of shareholder value. It is of value for bonds that liquidate those assets when JCP, inevitably, goes bankrupt. Hence, the positive movement and articles related to JCP bonds.
"...when JCP, inevitably, goes bankrupt."
As Ben Franklin correctly pointed out, the only things inevitable are death and taxes.
It helps the value of the company the real estate has been pledged to.
In addition to the banks getting their money back on the real estate, it would help the bond holders also get more of their money back.
In that case I wonder who doesn't get their money back; oh yeah, BAGHOLDERS !!