.I am sure the settlement docs refer to negligence only, so as to be within the purview of policy coverage..
Without seeing the actual settlement I cannot say you are incorrect - the original suit specified "fraudulent" - if they, in agreement with the insurance company did pay half, then the amount would indeed be 25 million, but then the reference you made to the settlement being "peanuts" and the 20 million in savings as people suggest "dancing in the street" remains as inconsistent.
As far as GAAP profitability goes - the earliest possibility is around 2019 - then and only then do the NOL's come into play(if they are not acquired or BK) - - - the bank will not take EBITDA profits as payment of anything - - - if they did a whole lot of thedotcoms would still be in business and we would all still be laughing at the sock puppet.
"GCL carrier probably paid at least 1/2 of the money under most standard commercial liability policies...plus JCP gets to write off the money"
Do more research -!!!!!.... most "standard" commercial liability policies DO NOT cover "intentional fraudulent activities" - - as far as them writing it off as an expense - - - - no saving there - - - they can just add it to the NOL's for future use . . before you can write something off, you have to have something to write it off against and you can't do that with EBITDA profits..... but all in all a nice try at a pump piece - - -
Hmmmm - - Case settled for peanuts - - - why is it that 50 million in actual awarded damages is peanuts when it comes to that case ...........but the 20 million in "potential" interest savings is worth dancing in the streets - - looks like the word peanuts may not have been applied correctly - - - - Strange how the definition changes when you're pumping.- - - -
re: the college refresher course on bashing - - - I missed the part where you pointed out ALL the ERRORs in the material - - - oh, you didn't find any errors !!!! ......then that must mean you simply didn't like what you read - - - - - that's getting closer to a cheerleading pumper by the minute...... you really need to get one position and stick with it - - - - either you're a pumper or you're an investor interested in factual information.....How much have they suckered you into this for?????
It’s worth noting that both J.C. Penney and Kohl’s have been sued for false advertising by consumers, who have alleged that the stores engage in deceptive practices by using unrealistic, purposefully inflated list prices that no one ever pays.
According to the WalletHub study, J.C. Penney is the top discounter overall, with an average markdown of a whopping 68% on Black Friday. Put another way, when you’re holding merchandise that J.C. Penney claims is worth $100, you really should be paying no more than $32 for it. Right behind J.C. Penney is Kohl’s, where the average Black Friday discount is 66.7%.
To savvy shoppers, it won’t come as a surprise that these two retailers lead the pack on discounts. J.C. Penney has come 360 degrees in its approach to discounting in recent years. After announcing the end to “fake prices” in 2012 under the (failed) leadership of CEO Ron Johnson, the retailer reverted back to using inflated list prices and heavy discounting once again over the past couple of years. Back in 2012, Johnson admitted that less than 1% of merchandise at J.C. Penney sold at full list price. Based on how steep the average discount is for J.C. Penney’s sales nowadays, we’re probably back in a situation where 99%+ of what is sold in the stores is discounted, likely heavily. As for Kohl’s, regular shoppers know that the retailer often mails out $5 credits and 30% off across-the-board coupons, and when you combine them with in-store sales it’s a cinch to get 50% or more off purchases.
The point of this is all is: The biggest discounts and the best deals are not the same thing. Here are some of the best Black Friday deals we could find advertised for this season. The list factors in the percentage discount, but is also based on the item’s value and what competing retailers are charging for it.
I stopped reading that article when I got to this part "
we continue to recommend JC Penney as a turnaround self-help story with multiple levers to pull"
And we know State Street had to sell the Pension fund shares so JCP could "kick the can down the road" with "our pension fund will not require more funding now"
Everything they own is in hock with the inventory having a second lien
They're behind on their on-line presence against all of their competitors
They are running very low on cash - - have to think of a way to keep their "Liquidity" above 2 billion by borrowing money to pay off borrowed money -- -
Now, once again, what are those "multiple levers" they have left to pull - - - - and I'm not talking about all those spin stories that are going to happen next week, month, year, decade, etc., ....... all we have to do is WAIT
nothing that is said on these boards is of any consequence to me, so fire away if it makes you happy.
Well, you fired first, so somehow it must have made you happy - - - - if nothing on here is of any consequence to you, feel free to leave - - - what the he11 are you doing here in the first place - - -
"Better than listening to the #$%$ you spew"
Did you mean @@##$#$ like this ?...... By the bye, how did that FRYDAY work out for all you losers ???? You must have meant you were all over at Market's for one of his world famous SIHT fish frys**
truthseekerguy • Nov 11, 2015 2:50 PM.......Could also mean that is the day shorts will fry. Friday will tell who will fry.
**warnings from various sources that 400,000 Septic tanks empty into Great South Bay.
markitvalue • Jul 31, 2015 8:25 AM...................Now it's off to the Great South Bay, for a fun day of fishing. Guess you know what I'll be reeling in, mostly Fluke. Keepers have to be 18 inches or larger.
markitvalue • Aug 1, 2015 7:07 PM.......................WE'RE HAVING FISH TONIGHT!!!
start with "IF" followed by (living in Unicorn land) logical arguments - - don't believe me - go to the latest SA article and count the number of "if's" versus actual facts - - - - guess that's why they call it the "Cheerleading Hype and Hope" method of investing -
markitvalue • Aug 21, 2015 2:50 PM
"Tngenchek knows nothing"
Here, maybe this will cause him to stop his happy dance, this should give him the runs...
You don't want to be standing anywhere near the poor bstd when he reads this.
But I'm sure he'll come back with his usual, they make mistakes too..LOL.
The top 10 Major holders of JCP @6/30/15.
1 State Street Corp 22, 605,857... 7.40%... No change.
Wonder if some of that Pension money
by tngenchek • Oct 2, 2015 8:05 AM Remove
Came from State Street selling pension shares. Could account for some of the volume. We know it wasn't the short sellers. Market forgot to tell us they actually went back up this report. Gotta watch those "Cherry Pickers", they can be sooooooooooooooo sneaky.
tngenchek • Oct 19, 2015 4:49 PM
I'm guessing if they are, it's because State Street had to sell shares to somebody to buy out those 12000 pensioners. . As they say "a lump sum in the hand is worth more than JCPQ in Federal court" . . When an employer offers a lump sum buyout they are betting the market is going to perform worse and they can cut potential contributions in the future. - - - - - Market should have taken the lump sum
And who was it that speculated that was part of the HUGE volume(22 million shares) on a few days ???????- - - - poor Market - - he should have taken that Pension buyout when he had the chance - - -
Teachers and TIAA dumped 20 million
What's that saying about "rats and sinking ships"
I only use GAAP - have little to no use for EBITDA - you can make it say anything you want - - - Very low bar for SSS increase - - so a larger percentage increase against stores with stable comps is not impressive - - They ALL have something that JCP is lacking currently - - - they are ALL generating a profit - - - JCP has and still is losing money - - - All the major retailers are predicting a hard slog this season with sales down, JCP has nothing to distinguish itself from them so fail to see why they think they'll do better. They're way behind on their omni-channel on-line presence which is the "retail du jour" this season - I think the PPS this season will be close to the price action last season - - - it will all start with a "big bang" when Black Friday flops - - - - Black Friday is from days gone by - - - then later they'll have to admit the inventory increase wasn't really from "out of stock items" but warm weather merchandise they should have taken the markdowns on last quarter buuuuuuuuuuuuut then it wouldn't have made the margins look so good ------------------ but in retail the "Piper has to be paid" -------------- and no Market, not that Piper !!!!
"JCP would not mention a $20M interest savings per annum in the press release unless it thought that the investing public would want to know about it"
I believe JCPenney has been throwing everything except the kitchen sink in the last couple of months to PR this thing to the max - - - very little they have done is to actually note improvements to the "retail" side of the business - which, after all is the business they're in - - - - while it's important to cut expenses in any business, you can't cut your way to prosperity, you have to grow your way there. These YOY sales increases to date are piddly - - when that 6.6% SSS increase becomes 2-3% at the EOY - - - plain and simple - - - it's just not enough - - one final point is - that 20M interest savings will not even be booked until next year and according to my take - - - if interest rates rise that could/would be diminished/eliminated - - the end result is that now they have cleared the way to borrow even more money on the ABL than before.
"I don't see yours referring to any sec filings, data sources, news articles, charts, trading histories, or press releases"
Perchance you need to pay closer attention - - - here's a couple recent ones - - -
I would be particularly interested in your dissertation on the first one
tngenchek • Nov 17, 2015 9:21 AM
"From the article it seems JCP has increased their revolving credit pool by $500 million and they plan to reduce their principal balance on their term loan by $500 million. This will, supposedly reduce their interest payments by $20 million annually"
JCP's explanation wasn't completely transparent(surprise) - - - there were quarterly payments to have been made on that loan when originated, which would reduce the principal and in effect give them some cash from the deal - - - I will have to wait for the SEC filing but if the ABL interest is figured the same way as the last one the 20 million in savings is not written in stone - the old one was based on LIBOR, which is not a static figure
tngenchek • Nov 17, 2015 9:44 AM
FORM 8-K..... May 20, 2013
On May 22, 2013, the Company, JCPenney... entered into a Credit and Guaranty Agreement (the “Term Loan Credit Agreement”) with ..... Goldman Sachs Bank USA, as administrative agent (in such capacity, the “Administrative Agent”), collateral agent (in such capacity, the “Collateral Agent”) and lead arranger, and certain other financial institutions party thereto as agents, arrangers or bookrunners, which provides for a $2.25 billion senior secured term loan credit facility (the “Term Loan Credit Facility”)
JCPenney is required to make quarterly repayments of the loans outstanding under the Term Loan Credit Facility in a principal amount equal to $5.625 million during the term of the Term Loan Credit Agreement, beginning September 30, 2013
You post more here than just about anyone. Most of it nonesuch. How much are you getting per post?
Going to fill in for Market here - - - you really don't do much DD before you open yer yap do ya? - - - You posted 419 posts in the last 6 months - - - he posted 270 in the last six months - - - sooooooooo how much are YOU getting per post - - - -
side note - your posts aren't exactly chock full of anything close to pertinent information
24. This is the new floor
25. Can't go any lower than here
26. libocceclub • Jun 3, 2015 3:28 PM ..... Today students is the last day you will ever Be able to purchase her below,8.88
27. Markitvalue - I'm painting pretty pictures
18. Mark this post
19. Well, what about Ford, RAD, Apple, or Montgomery Wards(ok, I went too far with that one)
20. It takes a long time to turn around a supertanker
21. I went to the store today, yesterday, last weekend, and _________________
22. Just wait until - Black Friday - Cyber Monday - end of 1Q, 2Q, 3Q, 4Q, 5Q, Back to School, Easter, warm weather, cold weather, more rain, less rain, star in the East _________________
Look at the bright side - - - haven't had an "I went to the store today and there were lines around the block with bags full of high margin merchandise" post for a bit
As Jeff Foxworthy would say - - - - - - "And heeeeeeere's yur moron" .............He's @174 because #1 thru 173 died of hereditary stupidity - - - - -
....jboulos174 • 6 hours ago "I smell roasted shorts and i like the smell.....Hell shorty day'