[cicero2k]

Well the board should not be held harmless. What were they thinking? That Apple’s coolness translated to JCP dry goods? When he would not move there, they should have canned him.

The board should have hired a Macy, Nordstrom or Neiman Marcus ace. JCP could now become the next Radio Shack. All over, but weak.

[Bubba Ho-Tep]

The problem is that JC Penney has been circling the drain for 20 years. The model just doesn't work. They've had their lunch eaten by Walmart and Target on one side and Macy's on the other. Johnson at least had a vision of doing something different, but it was only an attempt to rearrange chairs on the Titanic.

Penney's will go the way of Montgomery Ward in a few years, and Sears probably isn't far behind them.

[caww]

Ceo Johnson and Ackman, who brought Johnson in, were basically calling the shots......they had a tight grip on the decisions....as you know several key people at the top began leaving.....you have to communicate with people and Johnson was a ‘my way or the highway type’ of guy.

This will change with Ullman leading, even if he holds this position only until they determine who will be the Ceo on a more permanat basis.