It is interesting to read the various posts, both pro and con, on this board.
I find that those who question JCP's performance over the past year and are discouraged by RJ's strategy and execution, often cite published and accredited news accounts and numerical data to support their positions. Whereas, those who have taken long positions in JCP, for the most part, post comments of a more emotional nature, lacking in any substantive data or facts:
"JCP is going to hit 30 by end of the week"
"JCP is poised for a solid break out"
"Resistance at 26..."
"Shorts are gonna get squeezed"
I can only conclude that the old adage is true: It is dangerous to get emotional about one's investments.
@lancer2k Oh please Lancer. By using the word "discouraged" you are implying you guys give a rats #$%$ about the company and it's employees. Absolutely no one short here cares as long as money is to be made. The short posters here take a "taunting" approach. It's like in football when you stand over someone after putting a good lick on them and wag your finger in their face. And you know what happens when you stick your finger in someones face.
Pennyman, it is sad to see a retailing icon such as JCP entrusted to such inept management. The original mission statement of John Cash Penny was based on The Golden Rule. Current management came in and gutted the store overnight. They trashed everything without regard to the legacy with which they have been entrusted.
"No one cares as long as money is to be made"...this describes the free market, capitalistic system. People don't invest to lose money. Why do you think Ackman took such a large stake in JCP? He did so to squeeze every cent of profit he could from this company. That's the bottom line. He cares nothing about the company, the brand image or reputation and, certainly, nothing about the employees who have been terminated. So far, his investment doesn't seem to have yielded any positive results. He put RJ in place and the results, to date, have been...shall we say, "disappointing"?
Right on lancer! And...when they have nothing of substance and rely on just anecdotal tripe, they also turn to the "pity party" routine about us laughing at a once great company with all these people going under. Shame on us. Well, if it were up to Ronnie and possible, the whole company would be run by machines and zero human capital. He's already laid off thousands of people and is trying to get as lean as he can with technology.
So, "boo-hoo? Here's what's sad: Sad that a once proud company got screwed up by bad management, that's what sad.
How about this?! It's CAPITALISM and let someone else do this right and get back to creating more jobs instead of supporting a flailing and failing retailer laying off people! Kind of like Best Buy.