There's another reason why the customer left. They just canned 43k employees because of a failed strategy
and management is still flying around in Gulfstreams. Why should Middle america shop there?
Im sure the board has told Ronny his revised strategy better work or changes will be made. If the board doesnt take a more active role they will be sued.
Whats the story about one guy demanding his employees wear one piece of camoflague each day? who cares if he wears neon sneakers. Dude, concentrate on the customer. The people he brought with him from apple may be out soon, if the next quarter is lously. If Ronny goes the new guy will clean house.
Vornado invested in JCP for the real estate. He sold a good piece of thier holdings what does that tell you.
If they spun off the real estate they would want it.
Received in the mail today another pack of Friends & Family cards to hand out. On the top of the card it says a team member included you on a select list of friends and family. ( I am evidentially the team member since I would be handing them out.)
I am surprised that they still consider me a team member. They eliminated my job. Decided that they did not want me or my friends that also worked there because we didn't fit their new jcp image. They also told me that they did not want to have to deal with my pension, so here - take 40% of what you would have earned if you retired from jcp at 65. They basically told a lot of us to get lost! I rolled my pension and my 401K. I pretty much don't know anyone that works there anymore. What is my incentive to hand these out. Do I get and extra discount on my next purchase. Do I care to keep the stock prices up since I don't own any jcp stock anymore. Am I making any more money in my pension plan for retirement. No it is not there anymore. I was never given the letter of recommendation to present to potential employers. I was lucky enough that I knew people and they know the type of worker so I was able to get another job. Ron did not care what human beings were behind all the jobs he cut. Again why do I care one way or the other if jcp succeeds? Why do I care if RON succeeds? When Ron is out maybe I will consider handing them out.