Like I said b4, 580 employees at $100,000/ yr were laid off to pay for this worthless pretty boy. Oh, but he worked for Google. Ever hear of Ron Johnson, Apple's retail czar who went to JC PENNY and ruined their business. How bout Steve Ballmer, ex P&G guy....did nothing for Microsoft and missed every tech innovation that came along. It's called the Peter Principle.
Could have worked for a yr at $100000 in lieu of De Castro $58 million for abject failure. Pretty boy, cool name, w no substance....but he worked for Google!! This everything that is wrong with corporate boards today.
Thank you for the post, but where did you find this announcent. As of 4/17/2014 at 10:15 am, I did not see it on Western Lithium's site under Press Releases/Investors, nor my Charles Schwab site, nor Yahoo Finance. Thanks again, but let me know where you found it.
Got the brand wrong, they were Levis. ordered some different colors, like to be sharp dressed, go out a lot, date, etc....you know the drill. Don't spend my days behind a computer. I shop in Macy's and Dillard's too, just observing that all the doom and gloom on JC Penney is just fabricated by the shorts. Do you just order on-line and think all your "friends" are on Facebook?
Re Scozzi's article on "3 Shifts for JCP", he's wrong about a few facts like their on-line capability, store traffic, etc. 2 weeks ago, I bought a pair of Lee jeans at the store, and then ordered 3 more pair on-line while at the store. They received them in 3 days, called me, and I picked them up. So, as usual, Mr. Sozzi's information that the store still can not process on-line orders is incorrect. Furthermore, when I drove up to the Penney's in Mesa, Arizona mall, where Macy's was next store, I compared the quantity of cars in their respective lots, and Penney's appeared to have 20% more. I guess coaxing their customers "over the head" with gimmicks is working!!, Finally, regarding JCP "ubervolatile stock", it's been the least volatile over the last month. Chart it compared to anything else. It's been steady as a rock in the $8.75 area. I guess when you're short a stock and have the power of the pen at "The Street" you do the best or worst you can do.....right Mr. Sozzi?
All of you could have bought the stock at $5-$6 and been up 30-40% in less than 2 months. How's that compare to how the overall market, or Macy's or any others during that period? Shorts are just mumbling to themselves, just praying that they don't get hit with the mother of all squeezes on some announcement. It could bounce to $10-$12 in a week.
Yes, I'm sure you guys with your short positions are very, very concerned about this terrible, terrible harm to consumers. How's that squeeze from $5 to $8.....getting worried, grabbing straws?
Now, that they scared JCP shareholders into to selling at $5, they've got egg on their facce at $8. They scared a friend of mine into selling all 1500 shares of her shares at $5.50. Oops... did we cause you to miss nearly $4000? Now, let's start writing some semi-positive articles with lots of BUTS like sales per sq. foot are up, but is it enough!!
I'll put my money behind the CEO and the ex-CEO of Saks who is on the board. Motley doesn't know s***t. Caused my wife to sell all her Sirius in the $1.75 range......but they like it now. Why would anyone subscribe to them. Their big thing at the end of every article is buy dividend stocks and DRIP. You need a subscription service to know that?
At Superstitionon Springs Mall in Mesa, AZ, I shopped at Penney's last Saturday afternoon, and bought a pair of IZOD golf slacks, 2 IZOD long sleeve shirts, and some Stafford underwear. Total was approx. $107. Plenty of people in the store (no different than Macy's next door), and the place was well laid out, and every clerk was friendly. All this in contrast what the short buffoons, who never go to any of these stores, want you to believe.
Afterwards, I went to Macy;s next door, total price for similar slacks, shirts, etc. was not much different....so much for everything going at rack sale prices in Penney's.
Well, I see that the short covering has subsided, and the short position tag team match started up today with analyst Mary Ross Gilbert jumping in the ring first, talking about a secondary, restructuring, yada, yada. She must have some clients in real pain after telling them to short the stock at $5/sh. And, of course, Barron's, the mouthpiece for hedge funds, is doing her bidding. I''d like to see some Canadian or European retailer come in and make an offer for them. Shorts will be jumping out of their windows.
Yesterday, on Fast Money Halftime report, they covered the "pop" in JCP. Pete Najarian, who a few weeks ago would end every show with "I'm short JC Penney, this thing could go to 0!!!", could only look down at his desk with a sheepish look as they covered the pop. One of the other traders, said no one should short this stock, any change in foot traffic reported, and JCP could take off like a rocket. Pete got wiped on this one. Isn't it amazing how Myron Ullman, Steve Sadove (SAKs), experience retailers, who told everyone this thing was turning around, got absolutely NO CREDIT. But, all the junior writers who were just cut and pasting the same JCP disaster prediction story were believed. Just shows what a bull s**t market this is, along with the analysts and the media.
Long since $.49/share, and sold 2/3 of my position around $3, holding last 1/3 as core. However, I've got so many other stocks running hot, and SIRI s starting to feel like a CD, cash, etc. I'll probably sell some long $4.50 calls, just to take in some cash. John Malone, Liberty's supreme financial engineer....I don't think he gives a hoot.
Mario Gabelli has a piece of the JCP shorts, and will be going for more tomorrow......just like Carl Icahn and the boys screwed Ackman on Herbalife.
So, when I was in JCP before and after the holidays, all those 18-25 year old young men that I saw in the men's department were a mirage? Same goes for the women's department, lots of people under 40, and, they weren't just buying the stuff on sale. It's over for the shorts, they say stuff they can't substantiate, none of them have been in the stores, etc. I'll give them credit, it's been a bear feeding frenzy, and if they are short, the squeeze is going to hurt. Remember Best Buy, Hewlett Packard all driven to the low double digits in stock price, now in the 20s. It cna happen faster than you think.
All the "know it all" junior writers at Motley Fool will up all night trying to figure out how to save face or come up with a "what's wrong with this story" story. After all, they took a couple of courses in accounting, and read a quick brief on retail management,. How could they be wrong?!! How could they know better than the JC Penney's CEO, or the ex-CEO of Saks who's on the board? I mean how could all these experience guys on JC Penney's board know more than the foolish kids at Motley!!! Remember what I told you about Motley, sell Sirius at $1, $2, $3, then buy, buy, buy!!! They don't know s*****t
This is typical pattern for Taser after reporting, good or bad. Here's some advice. I'm very long on Taser since $8/sh; however, I sell long calls. Before earnings, I got $2/sh premiums for September $24 calls. I received $3.50/sh for July $19 calls. I can buy those back on the pullback. So, when this happens, I can withstand it having all that cash in my pocket.
Notice lately....MF saying what does Mario Gabelli see in JCP? Are Vangaurd, Blackrock, and others possibly smarter than the junior writers at MF who've never fun a damn thing in their lives except their word processers. And this morning, is JCP a screaming buy? Oh....now they may not go bankrupt, not without risk, but you could get rich, etc, etc. This is what they do, run with the bear herd, get everyone to sell, than oops...we were wrong.....it's a screaming buy!!
Blackrock filing this morning in my Schwab acct indicates they still hold 8%. Expected a reduction with this big selloff. I mean could they possibly know something that the retail business geniuses at Motley Fool don't know?