J.C. Penney (JCP +3.5%) CEO Ron Johnson "deserves criticism", according to Bill Ackman, who has...

|About: J.C. Penney Company Inc. (JCP)|By:, SA News Editor

J.C. Penney (JCP +3.5%) CEO Ron Johnson "deserves criticism", according to Bill Ackman, who has been an outspoken fan of the embattled CEO until now. Ackman's Pershing Square Capital has lost ~$500M on paper from its investment in JCP thus far. Although the retailer's execution has been "something close to a disaster," Reuters says Ackman wore socks purchased from J.C. Penney as he criticized the company.