Company could have avoided the confusion by either naming the old NYLD as NYLD.A and the new NYLD.C or just name the new class C as NYLD.C. But it didn't. I wonder the reason for the renaming and spilt. Anyone care to guess?
According to last weeks announcement: with the May 14th split,
The old NYLD becomes NYLD.A ,Class A stock while the new class C stock is listed (as the old)NYLD.
Has anyone else noticed that the countries using Visa and other credit cards do not go to war with other countries using Visa and other credit cards? My idea of lessening tensions with other countries is: instead of banging political drums against other counties such as we did with Iraq, Vietnam, North Korea and now Russia is to issue credit cards to their people. Suddenly, their perople will join the struggling middle class, who will then have to work two jobs, day and night in order to pay-off their monthly statements. No one will have the energy to figh another countryt and peace will reign.
Do I get the Noble Peace Prize? Nope. No one recognizes my great insight. All folks do is laugh.
I doubt a quick resolution. Tea-baggers are focused on a narrow agenda.Their aim is to reduce the amount the government spends and will stand fast no matter what until they win. They don't care about anything else, thus compromise for the sake of a majority or other interests is not forthcoming. I think suicide bombers have the same zeal. The difference is that tea-baggers are elected, mostly rich and inexperienced while suicide bombers are poor, stupid and young.
Not a chance for a take-over. Management implemented golden ("diamond-studded, platinum") parachutes for itself last August to protect against take-overs. Any business targeting JCP will suddenly fail burdened by both JCP debt and obligations to management.
Just another large "me too" chain-store in a crowded field dedicated to selling mid-price goods to a shrinking middle class.But JCP is too asset-based and inefficient in today's market. Sometimes, its important to recycle assets and people from tied-up in failing businesses so that more efficient businesses can progress. The earlier the better, not only for JCP but its investors, creditors, employees, suppliers and customers. The first shoe has fallen, not for the second.....
If Mighty Mouse could save the town from the Jamestown flood, he should be able to save JCP. Too bad we got Mickey instead.
The news two weeks ago is that JPC will require some of its sales staff to wander around the store in Disney costumes sprinkling fairy dust on the customers. At least management recognizes that its present sales and service is insufficient to meet the present market. Given that the mall-based Disney stores have have been proved a failure, having cartoon characters at JCP with or without fairy dust will stimulate sales, the work-horse for a department store. I wonder how much will JCP have to pay Disney for its intellectual property?