J.C. Penney has hired bankers at Blackstone for advice on shoring up its fast-eroding cash. The company is seeking to raise about $1 billion. Bond analysts don't think Penney's operations will be able to generate enough cash to cover the company's needs beyond a year, putting pressure on new Chief Executive Myron "Mike" Ullman to cut costs and look for ways to raise new capital even as he tries to get more shoppers into stores.