It is time for JCP to fast-track their CEO search and also replace the current chairman. JCP seems to be blind. They are supposed to represent shareholders' interest, but that is not what they are doing.
They fired Ron Johnson 5 months ago and have plenty of time to find a new CEO. Ullman looked, pretty foolish yesterday and I would think he will be gone pretty quickly. Bad news is out, everyone hates JCP, now bring in a new CEO with retail experience. I think JCP will turn it around but if they don't replace the CEO and chairman quickly, they are toast. Throw out some off the board members too, what a bunch of clowns. Volume and selling pressure was amazing the last few days, reminded me of 2009.