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When K-Mart came out of bankruptcy and was selling at $15 a share, I considered buying 10 shares or so. I wish I had done so--I would sell right now (or more accurately, in a week or so). $150 would have turned into $1000+.
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Yeah, it's real. And I'm completely stunned that KMart thinks they can afford to do this after cutting so many stores in the last three years (my husband was a victim of the second round, worked in a store with sales - I kid you not - in the top TEN PERCENT of all of the stores still open) and when they still can't manage to pay their non-critical vendors in a timely manner. There was an article in one of the papers here, I don't recall which, over the vendor payment issue. Kmart's bankruptcy protection was filed in the Northern District of Illinois (Chicago courts) so I see a lot of it in the daily law journals.
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S-Mart. I love it.
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