Ron Johnson creates the post-apocalyptic JC Penney: "Where the living envy the dead".
Associates who still have jobs get fewer hours, no medical, and no retirement. Fired associates get severance, unemployment, and COBRA.
Ron Johnson is succeeding in re-imagining every aspect of JC Penney's business, the guiding principles that illuminate its path, and most importantly, the principle to be Fair and Square in everything it does.
What is truth? Ron Johnson will be in New York City at Sir Stage 37 on May 15, 2012 to give us the answer.
JC Penney's press release states that the event at Sir Stage 37 is to be the release of JC Penney's first quarter 2012 financial results.
If all Ron Johnson wants to do on May 15, 2012 is announce earnings, couldn't he get a hotel room and arrive for work at the JC Penney Home Office in Plano, Texas? It would be a significant cost savings.
But with the recent firing of so many store associates, what if a much bigger announcement is planned, perhaps involving underperforming real estate.
Jeff Bezos launched the Kindle at Sir Stage 37; can anybody imagine Ron Johnson eating crow in front of hundreds of cameras?
Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in JCP over the next 72 hours.