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Ackman Moves to Dump Entire Stake in J.C. Penney
The Wall Street Journal ^ | August 26, 2013 | Emily Glazer, Matt Jaremsky and Suzanna Kapner

Posted on 08/27/2013 7:20:04 AM PDT by Rodamala

Citigroup Agrees to Sell Hedge Fund's Shares to New Buyers at $12.90 Each.

Hedge-fund manager Bill Ackman moved to dump his entire stake in J.C. Penney Co., ending a failed bet on the retailer that cost his fund more than $600 million, resulted in the loss of thousands of jobs and left the 1,100-store chain still struggling to right itself.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy
KEYWORDS: homosexualagenda; jcp; jcpenney; retail
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Mr. Ackman's Pershing Square Capital Management LP is unloading its 39 million shares—nearly 18% of Penney's stock—with help from Citigroup Inc., which underwrote the sale.

Citigroup reached agreements to sell the shares to new buyers at $12.90 each, a person familiar with the matter said. That was well below their closing price Monday of $13.35 and close to half the roughly $25 apiece that Pershing Square paid for the shares, mostly in 2010 and 2011...

http://online.wsj.com/article/SB10001424127887324591204579037251135114142.html


1 posted on 08/27/2013 7:20:04 AM PDT by Rodamala
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To: Rodamala

J.C. Penny, the man, is rolling over in his grave...............


2 posted on 08/27/2013 7:22:53 AM PDT by Red Badger
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To: Rodamala

I guess JC Penney didn’t want to show the night time picture where these two “parents” were buggering each other.

Always happy, always Gay....never insatiably and increasingly perverse..

My advice to the children is don’t get to attached to any hamster or gerbil you convince your two dads to buy you.


3 posted on 08/27/2013 7:26:24 AM PDT by Gaffer
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To: Rodamala

I’m probably wrong about this, but I seem to recall reading that this guy used his position on the board of directors to get in the CEO that pandered to the Gay community and wrecked the JC Penny brand with its broad customer base for the perceived profits to be made off of less that 3% of the country’s demographics.


4 posted on 08/27/2013 7:26:48 AM PDT by The Working Man
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To: Red Badger

Kohl’s seems to have taken over this retail segment.


5 posted on 08/27/2013 7:27:07 AM PDT by Eric in the Ozarks ("Say Not the Struggle Naught Availeth.")
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To: Eric in the Ozarks
From Wiki: After the 1929 stock crash, Penney lost virtually all his personal wealth, and borrowed against his life insurance policies to help the company meet its payroll. The financial setbacks took a toll on his health. Penney checked himself into the Battle Creek Sanitarium, where he was treated. After hearing the hymn "God Will Take Care of You" (written by Civilla Durfee Martin) being sung at a service in the hospital’s chapel, Penney became a born-again Christian. Even after relinquishing daily operating management of the company, Penney continued his active involvement in managing the company and its stores. In 1940, during a visit to a store in Des Moines, Iowa, he trained a young Sam Walton on how to wrap packages with a minimal amount of ribbon. He remained as chairman of the board until 1946, and after that as honorary chairman until his death in 1971.
6 posted on 08/27/2013 7:30:03 AM PDT by Red Badger
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To: Eric in the Ozarks
Kohl’s seems to have taken over this retail segment.

Probably correct.

Big Malls with JCP and Sears anchors are on their way out.

Big box strip malls (Kohls, Depot, Sams) replaced them.

Here in Lakewood (Denver) they scraped one enclosed mall and built a new "town" in its place.

7 posted on 08/27/2013 7:31:48 AM PDT by cicero2k
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To: cicero2k

Good grief Kohls is the cheapest of the cheap. Where style and no quality meet. The Target’s upscale cheepie.


8 posted on 08/27/2013 7:35:36 AM PDT by Chickensoup
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To: Gaffer
I guess JC Penney didn’t want to show the night time picture where these two “parents” were buggering each other.

Or where they are downing a cocktail of daily drugs to keep the GRIDS virus in check and for various mood disorders.

I am convinced that over 2/3rds of practicing homosexuals are are anti-depressants or other psychotropic drugs. Every one who I know reasonably well is.

9 posted on 08/27/2013 7:35:57 AM PDT by fwdude ( You cannot compromise with that which you must defeat.)
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To: Rodamala

Great news, I for one hope the chain goes under and closes it’s doors forever. I am sure other retailers are looking at the fall of this retail giant.

Now if conservatives could just do this same type of thing to other retailers that support the leftist agenda....


10 posted on 08/27/2013 7:38:06 AM PDT by stockpirate (American taxpayer's are: The New World Order slaves for the collective.)
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To: Eric in the Ozarks

I love Kohl’s.


11 posted on 08/27/2013 7:39:36 AM PDT by Lancey Howard
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To: fwdude
There's a reason kids today use phrases like, "That's so gay," as a deragatory comment. It has nothing to do with their upbringing or home environment, and is actually in direct contradiction to what the government schools relentlessly try to beat into them. Even the constant efforts of the decadent movie / television / newsroom culture to "normalize" homosexuality fall miserably short when it comes to children.

That's because kids understand naturally - - instinctively - - that there is just something sick about a man pushing his penis into another man's anus full of turd. It's one of those things nobody needs to teach, and it is why homosexuals instinctively feel ashamed of what they are and what they do, and why they suffer the tears of a clown even as they march with fake smiles in fake "pride" parades. In psychology parlance, a "gay pride parade" is known as a "hall of mirrors".

12 posted on 08/27/2013 7:41:21 AM PDT by Lancey Howard
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To: cicero2k
Big Malls with JCP and Sears anchors are on their way out.

It's been my observation that malls have become breeding grounds and turfs for gang members. No longer family friendly, most malls experience a sort of "white flight" and are further relinquished to the the gangster culture. I won't go to one unless there is something specific I need that is not readily available somewhere else (usually a service.)

The oldest mall in Fort Worth, once a thriving, pleasant outdoor mall, is now a Mexican flea market. No white person with a lick of safety sense goes there.

13 posted on 08/27/2013 7:41:50 AM PDT by fwdude ( You cannot compromise with that which you must defeat.)
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To: cicero2k
In the case of Sears, it seems the new owner made a bet on selling off the real estate and some of the brand names vs. running the stores as they had been in past years.
He didn't figure on the value of big malls collapsing and the entry of Korean appliances sold at Home Depot and Lowes. I personally liked the hand tools sold at Sears and always wondered why they weren't sold through auto parts stores. I guess someone else figured they could displace Diehard and other Sears house brands.
14 posted on 08/27/2013 7:41:53 AM PDT by Eric in the Ozarks ("Say Not the Struggle Naught Availeth.")
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To: Eric in the Ozarks

Agree. JCP is in no mans land.


15 posted on 08/27/2013 7:43:58 AM PDT by Wyatt's Torch
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To: fwdude
No longer family friendly, most malls experience a sort of "white flight" and are further relinquished to the the gangster culture.

Probably true for many malls in urban settings with typical urban demographics. Not true for malls in many small towns where gangs are not pervasive and demographics are completely different. America is mostly small towns. Not saying there is never, ever a gang problem in the mall -- there is -- but it is the exception. To say these small town malls where I live have been taken over by "gangster culture" would be ridicuously off the mark.

The oldest mall in Fort Worth, once a thriving, pleasant outdoor mall, is now a Mexican flea market. No white person with a lick of safety sense goes there.

My local area in the Pacific Northwest also has Hispanically-oriented flea markets and other events. No particular danger to whites. They tend to be welcoming and hospitable. I'm sorry you have to live in a place where things are so different. Wondering if your preconceptions are getting the better of you in the case of this flea market.

16 posted on 08/27/2013 7:58:57 AM PDT by steve86 (Some things aren't really true but you wouldn't be half surprised if they were.)
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To: stockpirate
Now if conservatives could just do this same type of thing to other retailers that support the leftist agenda....

Amen. We are in a war, a fact which many, if not most, conservatives seem to be completely unaware of. And war is difficult, requires vigilance and sacrifice, and HOMEWORK. We need to do our due diligence with, first, major purchases we make, and then with the smaller, everyday transactions we enter into without thinking. Gasoline is a big one. Exxon is one of the few companies which has not bowed its knee to the sodomite idol, and I do all my gas purchases with them (or Valero, which is almost as good.)

17 posted on 08/27/2013 8:00:35 AM PDT by fwdude ( You cannot compromise with that which you must defeat.)
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To: steve86

we have big brick and mortar chains with no sense of customer support or service which have folded leaving secondary shopping malls with no viable anchors. The remaining anchors leave asap.

This leaves the flea market kiosks and fake luggage stores. People/customers are not slaves to the flow of the roads, they drive someplace else. That is why democrats love public transportation. They can control the location of the mob, give contracts to cronies, and make a profit from adjoining lands.


18 posted on 08/27/2013 8:03:30 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: steve86
You need to educate yourself a little about the numerous vicious, unreported, racially motivated attacks against whites by blacks across the country - I am not relying on "preconceived" notions of racial unrest. Many of these attacks are happening at malls or other large shopping centers. You seem woefully naive.

Check out Colin Flaherty's White Girls Bleed Alot and get ready to take your blinders off.

19 posted on 08/27/2013 8:06:51 AM PDT by fwdude ( You cannot compromise with that which you must defeat.)
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To: longtermmemmory

now it is no longer a question of IF JC Penny will file bankruptcy but when.

Should we start a bankruptcy filing date pool? I would bet the same company that liquidated circut city will do JCP’s liquidation.


20 posted on 08/27/2013 8:07:25 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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