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Just before Bill Ackman engaged with Carl Icahn in the financial media equivalent of the Thrilla...

  • Friday, January 25, 1:59 PM ET
    Just before Bill Ackman engaged with Carl Icahn in the financial media equivalent of the Thrilla in Manilla, the investor had something to say about J.C. Penney (JCP -0.2%). Ackman expressed confidence in the leadership of CEO Ron Johnson, but gave up a little ground by conceding if the exec doesn't turn things around in another two years then he's probably the "wrong guy" for the top job at the retailer.
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This news story has 12 comments:

  •  
    BEST TV EVER!!
    25 Jan, 02:01 PM Reply Like
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    No kidding! Brilliant.
    25 Jan, 03:32 PM Reply Like
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    ...or maybe Ackman's grand strategy for JCP is the wrong strategy...
    25 Jan, 03:51 PM Reply Like
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    God save us.

    Duh.
    25 Jan, 03:56 PM Reply Like
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    Ackman is being very generous with stockholder's money.
    25 Jan, 04:40 PM Reply Like
  •  
    What he actually said was that he called Johnson brilliant, was confident they would succeed, that they were adjusting, that the new JCP home section they were introducing in 600 stores and which also set off Macy's on its great run was great, etc., etc.
    Slightly different from your selective reading.
    I don't know if Johnson and JCP will succeed, but I do know what I heard. You are entitled to your own opinion, but not your own facts.
    25 Jan, 05:13 PM Reply Like
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    Bring back the auto centers !
    25 Jan, 10:49 PM Reply Like
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    AGain the campaign against Johnson and JCP. I have never seen this much false, convoluted, out of context damning media on a company which was not a fraud. The quote shown which started this thread is a disgrace. Hope they are short...they will get what they deserve.
    26 Jan, 12:52 AM Reply Like
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    As a former JCP marketing associate I have seen CMOs and CEOs come and go. What they all had / have in common is a strong ego. What they neglected to realize , ego should only exist in the eye of the consumer and never be a part of the marketing team or their processes . That is where JCP or as I now call it RJP (as in Ron Johnson Penney) has gotten trapped. What were and are they thinking by putting the issue of price first without considering and establishing the product's fashion value ?
    Just as the beverage industry years ago added value to a bottle of water they first had to establish it as a fashion / health statement. JCP's management team needs to do just that establish fashion prior to discussing value / cost. You can't push price into the equation like what is currently being said that JCP has cross the line by asking their suppliers to establish higher retail prices to make their every day price policy glow.

    "Ego should only be a part of the consumer's thinking and never that of the marketer or their marketing process".
    26 Jan, 01:42 AM Reply Like
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    It will be too late by then. Ron Johnson HAS to turn things around. Period.

    The good news is that most of his ideas sound solid. I'm not sure coffee and candy are going to do much (though I'd change that view for Mini Paneras) but the remainder of the overall plan is promising.

    The bad news is timing. Everything seems to be taking FOREVER. It makes me think Ron should have closed 3 JCP stores that were only doing okay business and relaunched a rebranded store all at once. Something with a new name but labeled 'A JCP Store' in the fine print. See how those did first, and if they took off (as I believe they would) he'd flip the chain slowly.
    26 Jan, 01:47 AM Reply Like
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    The last sentence speaks volumes but I do not believe they have the luxury of two more years of declining sales and profit.
    27 Jan, 10:51 AM Reply Like
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    As long as the current CEO continues to have a free reign on company resources he will continue on until he exhausts everything . I can not stress enough the board especially Mr Akerman needs to step in now . Oh I forgot he has already made a profit and can wait it out till the end. Look at the board which as in all companies is the heart / the watch dog , what are they doing or not doing ? In this case their board includes everyone from a college president to the retired chairman of an IT company, are they suited for the task ahead ? Perhaps like their CEO the board needs an update.
    Rather than babbling on about what appears (?) obvious in terms of the signs of a pending company failure can someone please answer the question ,what or who are answerable and to who are they answerable to in this current situation ? I would like to believe after so many business / wall
    street failures in recent years there is a Federal "disorganization"(LOL) to stop companies from failing and taking their stockholders with them . I guess like all of us when I am ill I call a doctor and am not content with to just babbling on ? 
    27 Jan, 03:45 PM Reply Like
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