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jmkearns

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  • J.C. Penney Bonds: An Investment Or A Lottery Ticket? [View article]
    If JCP could only get this much attention in terms of what might effect their actual ever day business.
    The company has gone under the microscope , usually after the fact . Time someone focused on business before all this backbend clean up will come to no avail . The powers that be have made some serious business decisions
    in terms of their past choices in senior management (Mr Johonson & his crew).
    You have a CEO in place let him take care of the under pinning while a vetted merchant takes care of the actual retail business decisions. Divide your focus and conquer .
    May 20 03:02 AM | 1 Like Like |Link to Comment
  • Boardroom brawl at J.C. Penney sends shares lower [View news story]
    This board and their actions and choices continue to hamper any chances for a successful turn around. This has been confirmed by the financial community, Wall Street and more importantly past and future customers in their reactions to Board choices during the past two years.

    Just as in the current Washington political community the board is more interested in ego less in progress. Perhaps there is a light at the end of the tunnel with the most current suggestion of a Mr Questram as Chairman and Mr Hicks as CEO ticket. Now that is progress, allowing for a separation of responsibilities with candidates having the correct balance and experience in terms of finance,merchandising and marketing coupled with a track record of running successful retail organizations.

    I have worked under an organization where these men applied their skills and concern for both the organization and the associates within .

    My vote is for this ticket in 2013.
    Aug 9 11:48 PM | 1 Like Like |Link to Comment
  • The board at J.C. Penney (JCP) has thrown its support behind CEO Mike Ullman and may keep the exec on the job longer than an antsy Bill Ackman wants, according to sources. Ullman has built up enough forward momentum at the retailer that his job appears to be safe through the critical back-to-school and holiday seasons from an Ackman-led replacement search. [View news story]
    Congrats to the board, now how about rebuilding the rest of the team.
    I am not understanding Mr Ackman's hesitation with Mr Ullman at this point he is seasoned and has a direction not a fantasy. He may be forgetting Mr Johnson's background was more about marketing which perhaps is why he didn't understand the reality and responsibility of a CEO. He let money flow and bottom line fall not to mention losing focus with any customer base, something I would of thought based on his background he would have been better at. Sunday's NY Times had an article about how boards sometime neglect chief executive succession planning where they quote "JCPenney is the most recent example" . It is obvious now the board needs to take a hard look at grooming not assuming a search team is the way to go in naming their next CEO .
    May 16 07:59 AM | Likes Like |Link to Comment
  • J.C. Penney (JCP) CEO Myron Ullman has reached out to Macy's (M) CEO Terry Lundgren to try to settle their legal dispute, according to The New York Post. A negotiated truce - which may be announced sometime this week - could include the retailer scrapping its 10-year deal with Martha Stewart Living Omnimedia and put an end to the trial raging in NYC. [View news story]
    I have always had faith in Mr Ullman, he is a true CEO. Some day I would like to meet him
    Apr 17 12:06 PM | 1 Like Like |Link to Comment
  • J.C. Penney (JCP) CEO Ron Johnson's pay fell sharply last year as the company struggled to get its footing. The absence of stock awards meant Johnson made only $1.9M in 2012, a far cry from the $53.3M in total compensation he received a year earlier.  [View news story]
    Ok enough of this speculative talk and on to reality. In recent weeks JCP took the right turn around step (perhaps the only one left) It allowed shoppers'
    greater control on what they felt was a true value .
    Coupons and price off savings allowed the customer a feeling of control. The addition of new live brands which might make a connection with the public and which were never before seen at JCP gave that added touch. So why did the company wait so long to realize their CEO had only half the answer to profitable growth ?

    Was it the boards' seemingly lack of interest or background in retail ?
    Was it Mr Johnson's lack of growth through partnership ?

    Did it take a near death experience in terms of profitability and or senior management payouts to spark this change ?

    Was it a missed identity in terms of a mid price retailer playing with the ground rules of a high tech company ?

    Was it a lack of true branding replaced by pure speculation ?

    Who could not see the blending of Mr Johnson's concept with a true understanding of the retail market place in the current economy could bring about a profitable rebirth for an aging brand ?

    Now forced to balance the two, there is a light in the tunnel (PERHAPS NOT AT THE END)but at what cost ?

    A once rich financial reserve along with a strong base of on line and in store has dwindled .

    Associations with a past and future customer base has become clouded.

    A sense of I told you so has masked the potential growth Mr Johnson wanted to bring to the retail industry.

    Here is where the problem may have begun. Perhaps it was more about being a big player ( for Mr Johnson) rather than ensuring JCP as the big player ?

    Any thoughts ?

    JCPenney truly has a second life I believe. Who has the insight or desire to make it happen after all it still has a potential payoff in terms of selling off the pieces to the highest bidder.

    Dose anyone see this and rather than just comment on it as has Wall Street now might be ready to make this change ?

    If only and perhaps they have (JCP board) decided to do something positive rather than passively waiting for something (good or bad ) to happen ?
    


    Apr 3 02:00 AM | 1 Like Like |Link to Comment
  • J.C. Penney (JCP) is in the process of eliminating up to 10% of its workforce at its headquarters in Texas this week, according to some reports. Execs with the retailer have been rather cryptic on how many jobs the company plans to slash in total as it struggles to regain lost sales. [View news story]
    So his plan is to cut the main stay of all retailers private brands and offset it with cuts not sales ?
    This in the wake of no testing his concepts just doing ? What is the board saying and doing or have they been offered something in return for their lack of governance?
    Feb 22 02:35 PM | 1 Like Like |Link to Comment
  • 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. [View news story]
    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 ? 
    Jan 27 03:45 PM | 1 Like Like |Link to Comment
  • Credit Suisse thinks 2013 could be the year retailers rationalize their store base and place a sharper focus on data and online channels over store transformation (think JCP). The firm likes Ross Stores (ROST -0.5%) and TJX Companies (TJX +0.2%) to keep up their winning ways and moves to a positive stance on Dillard's (DDS -0.3%). [View news story]
    All beats are off. JCPenney should change its name from "JCPenney to RJPenney" as in Ron Johnson. What has he and more importantly the board been thinking this past year as they have gone from a failed marketing strategy to sales / profit losses to the steady loss of in store and on line businesses. How far can you go without recognizing your business is living off of fumes or the results of selloffs of other business entities ,reduction in staff and so on ?
    A CEO who will not take no for an answer in terms of his marketing strategy to the point where it is being said he is having vendors inflate their regular prices to make his everyday low pricing look appetizing to the customer .
    Mr Johnson like all CEOs are entitled to defending their leadership but not to the point of loosing everything in its' pursuit .


    As a former associate I fear for my pension unlike at the CEO level (guaranteed pay off ) or that of Mr Akerman (who has already made a profit from his investment in JCP) I have too much to loose.

    I would do anything to address the board and ask about their due diligence in terms of making sense of where the company is going. What was once their base customer has moved over to what was once their competition (Macy's/ Kohl's). The customer base they are now trying to attract are in the hands of retailers like HMM because JCPenney presented a price strategy without first establishing a fashion direction. Just as the beverage industry had to establish bottled water first as a fashion / health statement before it could add a price to it .

    Ego should only be a part of the consumer's thinking and never that of the marketer or their marketing process.


    I would give anything to address the board if only to save my pension and those of others who are at risk
    Jan 26 01:49 AM | 1 Like Like |Link to Comment
  • 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. [View news story]
    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".
    Jan 26 01:42 AM | Likes Like |Link to Comment
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