That he timed this fiasco with the expiration of an "extraordinary number of puts" indicates an intent to harm the Company. Had the announcement come after expiration then it would be difficult to argue otherwise. Be that as it is, the Company still needs to act in meaningful way to preserve credibility. If they do not announce the beginning of an ASR (accelerated share repurchase), provided Q4 and 2013 guidance and bump up the dividend then all the litigation in the wold will not turn this around. Investors are sick of this regardless of who's right or wrong. Show me the money. Buy back shares and tell me everything is solid with the business. That's what investor's need. Words alone will not fix this.
ackman should walk in a jcp store.....virtual graveyard........now there bringing back coupons... after swearing to never introduce coupons ......the fact that he defends the jcp ceo..shows his level of expertise he should be lobg hlf short jcp