Myron Ullman, J.C. Penney's CEO and chairman, sees a toughretail environment that could lead to more bankruptcies, accordingto this Dallas Morning News article. There could be 10 to 20 chains that could fallvictim, especially regional outfits, he said speaking recently at aLehman Brothers conference.Ullman says the stimulus checks thatmany taxpayers have started receiving might help retailers butconcedes that high gas prices might have already sucked up thosefunds. He also says he is "cautiously optimistic" about the holidayseason for his company.So far some of the casualtieswe've seen are BombayCo., SharperImage, and MovieGallery. Chains such as Ann Taylor, Charming Shoppes andTalbots are closing numerous stores. What do you see as the nextchains or sectors to take a hit? And how do you think J.C. Penneyin particular will fare during the downturn compared to itscompeititors? So far, their sales results haven't been spectacular.