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S&P cuts J.C. Penney's (JCP) credit rating further into junk territory to B- from B+,...

S&P cuts J.C. Penney's (JCP) credit rating further into junk territory to B- from B+, reflecting recent poor performance that likely will experience further operational disruptions over the next several quarters as it implements its new pricing and merchandising strategy.
Comments (8)
  • wyostocks
    , contributor
    Comments (7628) | Send Message
     
    Why stop there?
    9 Nov 2012, 05:54 PM Reply Like
  • Wyatt Junker
    , contributor
    Comments (4503) | Send Message
     
    This pig has been rolling in the mud for far too long.
    9 Nov 2012, 06:00 PM Reply Like
  • modanco
    , contributor
    Comments (36) | Send Message
     
    Great job Ron Johnson. Thanks.

     

    Keep it going. Next up C+, C, C-, D+, D, D-.

     

    Then where??????
    9 Nov 2012, 06:03 PM Reply Like
  • Bob Haller
    , contributor
    Comments (108) | Send Message
     
    Ron is a wonderful CEO, wonder how much Kohls and Macys is paying him to destroy JCP?

     

    Ron and eddie over at sears are probably best buddies:( sales for both prove neither are retailers......

     

    Costs of borrowing must be going up as their credit rate falls....

     

    perhaps that explains the anemic hoilday decorations?
    9 Nov 2012, 07:08 PM Reply Like
  • Pensioner
    , contributor
    Comments (6) | Send Message
     
    Joined JCP Catalog in 1967. Retired on the 1998 VERP. Management associates and customers were all treated well. Now RJ receives millions as he terminates many of the associates who brought the company this far. What is wrong with this picture?
    10 Nov 2012, 02:58 AM Reply Like
  • Pensioner
    , contributor
    Comments (6) | Send Message
     
    I joined the JCPenny Catolog operation (mgt) in 1967 and retired from there in 2001. It was a wonderful company and the people running it knew what they were doing. We even supported the retail operations for a time. The termination of many associates this year is a crime. I hope RJ is proud of himself. His salary and benefits should have gone to those he threw out.
    10 Nov 2012, 02:59 AM Reply Like
  • MaryLa
    , contributor
    Comments (38) | Send Message
     
    Let's start over here... RJ, How did he get the job as CEO? Thru the BOD? And who are the people on the Board? I believe they are called, "Experts"! Unfortunately not experts of J.C.Penney Co. I believe only two members of the Board were JCP board members for about 10 years but none were not experienced managers, or paid personal in the company. How much time are these so called experts really devoting to solving the problems of J,C.Penney Co. Or are they just sitting on the Board, saying to themselves that they hope Ron finds some answers soon.

     

    When I hear RJ say that he is forming a new JCP I cringe! I want to hear that he is modernizing J.C.Penney Co. The integrity and the honesty of the company is still there but as JCP(initials), some of it disappears. The new logo is terrific. The T.V. commercials are great. I have always heard great things about the treatment of associates and now some are disappearing that should still be there. If RJ would get back on track quietly, not announce to the world what he is doing until he could see that his plan was working,
    I believe he could get out of this slump.

     

    J.C.Penney is still a fine company and if the BOD had some strong experinenced Penney men on the Board, RJ would not have made so many errors that now must be corrected. Seeking Alpha is a great website and I hope RJ and others at the corporate office reads it! The company cannot run on air for long and not on RJ excuses either! We are back to the first question, "How did he get the job?" That person is the one that must solve the problem!
    10 Nov 2012, 01:07 PM Reply Like
  • Bob Haller
    , contributor
    Comments (108) | Send Message
     
    someone here said the old board members would of never allowed this but they were pushed out as RJ began his reign of destruction. I too hope corporate reads some of this. But doubt they care:( They will wait till JCP is bankrupt and make $$$ off the real estate......

     

    A sad end to a great merchant who had record profits in 2010
    10 Nov 2012, 06:09 PM Reply Like
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