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Amazon com, Inc (NASDAQ:AMZN), (JCPNQ) - Amazon Brand Rollup Thrasio Lures Away JC Penney s CFO: Bloomberg

Amazon com, Inc (NASDAQ:AMZN), (JCPNQ) - Amazon Brand Rollup Thrasio Lures Away JC Penney s CFO: Bloomberg
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Exclusive: Athene to take over $2 8 billion in J C Penney pension obligations

2 Min Read (Reuters) - J.C. Penney Co Inc said on Thursday it has agreed to transfer its pension obligations to annuities provider Athene Holding Ltd, ensuring that the U.S. department store chain’s retired employees will continue to get their benefits. FILE PHOTO: A JC Penney store is shown in Oceanside, California, U.S., July 31, 2019. REUTERS/Mike Blake J.C. Penney, which said in December that it would seek to exit bankruptcy protection sometime this year, will not receive any money as part of the deal, but will shed the liabilities that came with the pensions. “We are thrilled that this one-of-a-kind transaction will enable the Pension Plan to pay the benefits that JCPenney intended the participants to receive,” J.C. Penny said in an emailed statement.

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JC Penney Agrees to Transfer Pension Obligations to Athene Holding

JC Penney Agrees to Transfer Pension Obligations to Athene Holding
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JCPNQ Stock Price, JC Penney Co Stock Quotes and News

JC Penney Co (JC Penney Co: JCPNQ) stock research, analysis, profile, news, analyst ratings, key statistics, fundamentals, stock price, charts, earnings, guidance and peers.

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Once a stonk, Hertz reveals dilemma companies face in Reddit frenzy

NEW YORK (Reuters) - Months before the irrational trading in GameStop Corp, there was Hertz Global Holdings Inc. FILE PHOTO: Logos of car rental company Hertz are seen outside Paris Charles de Gaulle airport in Roissy-en-France during the outbreak of the coronavirus disease (COVID-19) in France May 19, 2020. REUTERS/Charles Platiau/File Photo Operating under bankruptcy protection last spring once the COVID-19 pandemic wiped out its business, the car-rental giant confronted an extraordinary situation: Its stock price was skyrocketing for no apparent reason. Conversations at the time among Hertz management and directors on its board, reported here for the first time, turned from shock to a vigorous debate about whether the company should capitalize on its unexpected good fortune and sell shares to fund itself during bankruptcy proceedings, according to three people familiar with the deliberations.

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