SPIN-OFFS "secret hiding places of stock market profits" Message Board

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Non-Tech : SPIN-OFFS "secret hiding places of stock market profits"

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To: Stewart Whitman who wrote (352)	11/12/1999 7:40:00 AM
From: valueminded	Read Replies (1) of 1185

Stewart: JCPenney is one you may have mentioned in the past, & I believe it looks compelling. (ie Unfortunately I have already established a small position and it went downhill 10% from there) Eckerds spinoff (been approved) and sale of credit card operations to GE (around 4billion to be applied to debt) were in my opinion good moves. Eckerds alone seems to have a value close to the selling price of the stock (I put it at around 20/share). If they create tracking at 20%, use proceeds to pay down debt & buyback stock and stick eckerds with a reasonable debt to equity, it could leave JCP nearly debt free at a cost of around 6. Issues are credibility of management (big issue) imo. The cb doesnt seem to own any shares nor does he seem interested in acquiring any. A cause of concern for me You have any thoughts on this one ? thanks

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