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J. C. Penney Company, Inc. Message Board

lu.madar87 19 posts  |  Last Activity: Jun 27, 2016 1:09 PM Member since: Sep 21, 2013
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  • Reply to

    Another week - very little changed

    by skarpsindig_1 Jun 27, 2016 11:52 AM
    lu.madar87 lu.madar87 Jun 27, 2016 1:09 PM Flag

    Commons also seeing major buys today rising up from bottom, no one knows anything for sure is the only sure thing but following the progress of preferreds and commons -- on low but decent and significantly increasing volume, as of now anyways -- is the market telling us many people don't believe this is dead by any means, people are putting their money behind it...

  • lu.madar87 lu.madar87 Jun 25, 2016 11:52 AM Flag

    Judge Bernstein presiding: bernstein.chambers@nysb.uscourts.gov

  • lu.madar87 lu.madar87 Jun 25, 2016 11:50 AM Flag

    here it is, Judge Bernstein's email: you should write the letter yourself, dogwood, if you believe these things are in the cards: pls. keep letters respectful and intelligent (as best you can :))

  • lu.madar87 lu.madar87 Jun 25, 2016 11:41 AM Flag

    I agree that it's a neutral situation, not necessarily bad and as you say maybe the Trustee decided that the interests of the parties were already adequately represented relative to the costs; in any case it's a very good thing that many people bothered to write (mostly) intelligent letters, there are experienced lawyers involved; the judge is aware of investor concerns and common sense says he has to take them into careful account.
    -- Of course bashers will use this as another excuse, in reality IMO it's jacob sounds right on this.
    What really counts is that there IS equity there by all accounts enough assets to restructure and move on.

  • Reply to

    What I think of J_kttlees

    by invest4mynest Jun 24, 2016 5:12 PM
    lu.madar87 lu.madar87 Jun 24, 2016 7:23 PM Flag

    I don't mind optimists if they're sincere and I think there's a lot of reason for optimism given the fundamentals of this company, and I'm sure not cheering for the bashers of whom there are plenty, however Kitten seems to be an apologist for management to a ludicrous degree: how they'll take care of all the investors because, gee, it's their responsibility, you know, fiduciary duty -- they haven't put themselves, the management or BOD etc., by any means, that extra compensation in Q1 of this year was well deserved for -- well, something.

    And they're not "pleasing poverty,": just um, cash-flow problems, you know, no cash flowing at the right time because they spent too much and didn't plan...

    but they're in the GREEN and coming back strong. Wait, they're not in the green -- because they had cash-flow problems and their major lenders wouldn't extend their line of credit so they declared Ch. 11.

    No, wait -- well, anyway, they're really swell!
    All we have to do is keep trusting management to take care of all the investors and they'll be just jolly!

  • Reply to

    Equity Committee

    by lyonnesnews Jun 17, 2016 11:37 AM
    lu.madar87 lu.madar87 Jun 19, 2016 2:05 PM Flag

    Exactly, and that's the position of the proposed Equity Committee, also anyone who's a concerned investor can and should write Judge Breitburn and DOJ Susan Golden,
    don't count on management, their interests and ours are not aligned -- regardless of what a certain poster here whose name sounds a lot like "kitten" keeps saying -- he's got a nice fantasy that we can just ask management and major lenders/ debt holders like EIG, to "please share, can't we all just get along, there is enough for eveyrone to go around," -- the last part is true but everyone has to make their INTELLIGENT, WELL-ARGUED views known where it counts.

    Equity holders do have a very strong case, they're not represented by management as shown by their actions, and position to the court, however they are so blatantly trying to argue poverty while they have in fact had to state significant assets that would cover their debts and they have already attributed major write-downs to the common and PrefeRred sharehodlers, that's already represented in the low share pricel

    Many feel the ridiculous low price is a good risk for the potential profits, look at other companies in this position, that have a solid but perhaps cyclical core business like oil, air travel and so on -- ME NOT SELLING.

    Sentiment: Strong Buy

  • Reply to

    GOOD News for today!

    by invest4mynest Jun 16, 2016 2:57 PM
    lu.madar87 lu.madar87 Jun 16, 2016 3:23 PM Flag

    Volume has increased significantly even in the last hour, prices up from bottom, many shareholders have joined together for a proposed shareholder committee with cogent arguments, sharing information including replies from management's lawyers and acknowledged by DOJ -- your heartfelt letter adds the human touch and I hope it moves the Judge.

    Fact is company has already written off debt and attributed a major portion to the shareholders so it can't now claim they're not entitled to anything from the restructuring, these silent investors who were not privy to the decisions that went into declaring BK already footed by bill as reflected in the absurd share price --
    looking strictly at the market JIMO anyone's who's held this long should hold and if they added on dips like this morning might be glad for it.

    Sentiment: Strong Buy

  • lu.madar87 lu.madar87 Jun 16, 2016 12:36 PM Flag

    Look at the games Management played with dumping burdens onto Shareholders even as they increased their own compensation fees (!) and now their claims via their attorney Mr. S. Karotkin that we can count on this same management to protect shareholder interests, is clearly false on its face!

    Management/ EIG were apparently plotting their own futures another direction; and why did management salaries and professional fees rise so much Q1 2016 vs. 2015 even as their revenues and those of the industry, were down and they knew they had to cut costs to ride it out? Read their filing May 9th days before announcing BK and changing their official tune. The game with UNrealized losses is also interesting.

    They were so blatant in milking the situation I have faith that with savvy shareholders and representation on the case there will be proven breaches of fiduciary duty to shareholders common AND preferred if not downright illegality; the assets are there to restructure the company as a going concern and not wipe anyone out, MORE than the management already has piled burdens on them;
    for that matter bonds are also unsecured debt;

    management's lawyers arguing that shareholders are already adequately represented by managements's awareness of their fiduciary responsibilities can be proven false on its face.
    (From their lawyer's letter responding to request to form shareholder committee, which I have seen, this is a major argument and IMO pretty lame... a good lawyer can make mincemeat.)

    Meanwhile major price manipulation is going on with heavy continued buying as cheap as possible: what does that say? JMO buy or strong buy IMO bottomed out.

    HIghlights freom businesswire overview of the filing 5/09/16:
    General and administrative expenses, excluding non-cash unit-based compensation expenses, were $17.6 million in the first quarter of 2016, compared to $14.5 million in the fourth quarter of 2015. The increase was primarily due to higher employee related cost

    Sentiment: Strong Buy

  • Reply to

    DIP Financing and insider trading

    by dr.ecmeyer Jun 16, 2016 2:46 AM
    lu.madar87 lu.madar87 Jun 16, 2016 9:07 AM Flag

    I've been wondering the same question all along: keep saying there is NO CORRELATION necessarily between what Directors and Management do when it comes to selling stock and common shareholders, because by definition they ARE insiders and it would be a huge conflict of interest for them to own stock that they are in charge of affecting price-wise, during the process of this reorganization. LEt's say their actions or reported actions as in this case, are causing serious concerns which cause the stock prices to go down -- then they buy up the cheap stock --
    clear conflict of interest when even the preception of it invitres scrutiny especially in times like this.

    Too often co's DO play dirty that way, hiring shady "reporters" AKA bloggers for hire like JIm Cramer's The street scamsters we all learn to recognize, the SA bloggers, one of them very active here in hitting the stock non-stop -- but now when Management and Banks are trying to openly use the situation to benefit themselves while letting "someone else" come out stuffed over with the debt, I sure would sell if I were them!

    Sentiment: Strong Buy

  • Reply to

    REUTERS. BBEPQ

    by christopherservices Jun 15, 2016 3:36 PM
    lu.madar87 lu.madar87 Jun 15, 2016 3:56 PM Flag

    Good e.g. of unsecured creditors making voices known, thanks for update -- shows "we" are there all along the way and Washburn Bros/ mgt., trheir banker Lazard, EIG etc. can't pull a fast one with no one objecting and stopping them: noise matters and we're in the right Zeitgeist for this, thanks to Bernie luv him or hate 'im the big sharks have to be more careful who they rip off to make indecent profits

    Sentiment: Strong Buy

  • lu.madar87 lu.madar87 Jun 15, 2016 2:37 PM Flag

    email judge and cc: this woman from the Justice Dept., indicate support and speak from the heart that you can't afford to lose more, when I trey to say more it gets deleted (!) -- We know he acknowledged this effort already and numbers always help, let's hope "the Bern" movement makes them realize they can't squash the 99% so easily, we're watching their moves -- JMO it's easily gotta go much higher than this bottom!

    Q1 management salaries were so much higher than Q1 2015 while they were declaring BK and plotting...

    To Bernstein.chambers@nysb.uscourts.gov

    be sure to address him as "the Honorable"

    CC susan.golden@usdoj.gov

    Sentiment: Strong Buy

  • Reply to

    Yesterdays court meeting

    by itstomcat Jun 15, 2016 8:53 AM
    lu.madar87 lu.madar87 Jun 15, 2016 11:04 AM Flag

    All shareholders should write Judge Bernstein requesting rights be preserved not squashed by a couple of major debt holders and the Washburn Bros. who may be trying to take over the co. for the hedge fund assets: clearly that would be playing dirty with the "little people," this is no time to squash the 99%:

    BREITBURN ENERGY PARTNERS LP - CH 11 Case #: 16-11390
    that's the case #

    Sentiment: Strong Buy

  • Reply to

    zootard

    by jacobcanuck Jun 13, 2016 9:26 PM
    lu.madar87 lu.madar87 Jun 14, 2016 9:48 AM Flag

    I agree zooplankton's eplies are overwrought, trying a little too hard and obviously to be a "polite shill," not offend those he's trying to deceive into following him and losing their money.

    Maybe he IS zootard and believes all he claims but maybe kittens is right, he's behind some scheme allegedly hatched or favored also by the Washburn Bros. and EIG to try to buy the company's assets with the 6540M or so of hedgefund assets, and eliminate commons and preferreds in the process and write down the bonds -- who knows but I'm not buying it.

    What I do buy is that getting this co. @7c/ share is a dream come true for many who are willing to take the risks. If they're betting right the rewards can be huge and there are sour grapes from losers -- sad losses for many but some want to deprive anyone of making money, that may be true too.

    I do not buy all the neg. posts as "altruism," and it's coming from too many sources incl. that Elephant Analytics blogger for SA who wont' stop -- will he be proven right, we'll know soon enough, but too much sounds too fishy here.

    Sentiment: Strong Buy

  • lu.madar87 lu.madar87 Jun 14, 2016 7:02 AM Flag

    I wouldn't put it past them to try but what's your evidence? This is speculation.

    At 7c this is a "steal" unless this sort of Washburn/EIG "theft" actually happens.

    Sentiment: Strong Buy

  • Reply to

    shareholder comittee

    by adrianwdavis Jun 13, 2016 12:38 PM
    lu.madar87 lu.madar87 Jun 13, 2016 10:11 PM Flag

    Where's your evidence for this? I'm all for a shareholders committee and making some noise, but -- ??

    It makes no sense that Breitburn Energy gets to start all over debt free while shareholders get screwed

  • Reply to

    shareholder comittee

    by adrianwdavis Jun 13, 2016 12:38 PM
    lu.madar87 lu.madar87 Jun 13, 2016 10:09 PM Flag

    Agree that management's interests are not necessarily aligned with commons, that's almost always true, they own prefereds and have the voting benefits -- but also as insiders they're by definition "insiders" and have obligations and risks commons don't have, we're not privy to anything not publicly disclosed. it cuts both ways.

    But just based on what we do know from public information I"m sanguine about this getting out of Ch 11 leaner and meaner -- including cutting some of those management salaries and perks, why were they up so much Q1 2016 from 2015 with profits and revenues down?

    Why not a shareholder committee, can only help to add the voices of commons.

    Sentiment: Strong Buy

  • Reply to

    bbepq down today

    by zooplankton200 Jun 13, 2016 5:41 PM
    lu.madar87 lu.madar87 Jun 13, 2016 10:03 PM Flag

    Early bids of .074+ then tiny sells lower and lower than that to drag down price, yeah I'd call that classic and visible manipulation -- who can afford to pay transaction fees for 10K shares, except -- ? We've seen this pattern day after day. Same case on many stocks this low until a catalyst booms it up and all those buying cheap get their planned reward, but they take it low as they can first... This is not the pattern of scared dumping although we've seen that too, those guys are largely gone and hence low volume.

    combine that with all the CODI scare talk and hit pieces like the Elephant Analytics guy in SA...
    says huge potential.

    OF course always keep your finger on the trigger with any OTC/ penny stock and especially BK,
    watch for news from the hearings, there's never huge potential without risk.

    Sentiment: Strong Buy

  • Reply to

    Anyone attending tomorrows court meeting?

    by itstomcat Jun 13, 2016 5:18 PM
    lu.madar87 lu.madar87 Jun 13, 2016 5:34 PM Flag

    Great keep us posted, I'm on the other coast and holding, but based on comp co's and the fundamentals of this company,, in line with the oil biz in general, I'm seeing a very huge upside potential here CODI- scare tactics and those stupid "Elephant Analytics" hit pieces in the SA, aside.
    However this is MO I'm not advising anyone else what to do, do DD and follow your own gut and experience.

    Sentiment: Strong Buy

  • Reply to

    From 10 - K Annual report

    by jagan1961 Jun 1, 2016 4:46 PM
    lu.madar87 lu.madar87 Jun 1, 2016 7:59 PM Flag

    Can you explain? The first and the last what? Commons are wondering if they get CODI and even what it means tax-wise if say, they only hold a short time like weeks or even days?
    If there is any CODI, then it is the First and the Last

    Sentiment: Buy

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