After reading this article, a couple of questions come to mind about the JCP. With all the focus on jet set commuting, spending time at the hotel bar, weird office renovations...and orchids, who in the executive office is exactly is actually working on getting more customers to shop at JCP?
Exit question: How many times a day, or in an hour, or each minute does someone in the executive office say "When I was at Apple, this is how we..."
I understand your point of view and have heard it all before and then some. And you are entitled to you opinion. But for me, every time Obama blames the problems in the economy in 2013 on those mean old republicans, what Obama is really saying is that he is not up to the job as president. Looking back, Bill Clinton worked with republicans in Congress to get things done in this country and the economy boomed. Ronald Reagan worked with democrats in Congress and the economy boomed. But Obama is different. Going around the country blaming others for his ineptitude is Obama's way of dealing with the issues of the day. That is why nothing gets done in Washington.
Fact: Obama has been in office for 50 months now and we are living in the worst economy of our lifetimes. On the good side though, Obama looks so cool hanging out with Beyonce and Jayzee. So at least we have that going for us.
The Fed is still printing money and pumping it into the US economy while keeping interest rates at near record lows. The prime rate is 3.25% today. So as long as the Fed continues to inflate the bubble by printing money (bond purchases of at least 85 billion a month) the result is the largest bubble in the history of the world. Stock values should increase for a while longer as long as everyone goes along with the big lie. At some point though, just like the economy in 2007, the bubble bursts, sometimes in violent fashion, and the economy will plunge into a depression.
Don't worry though, nothing bad in the economy, the nation, the world today is Obama's fault.
Can you name one person that has ever become the CEO of a national retailer, and after his first year on the job, has made a epic disaster on the same historic scale of JC Penney failures in 2012.
The last quarter was the worst quarter of the year by most every measure that counts. The sales trend were down by 0ver 30% year to year. The disaster may to be growing by the day so far in 2013.
But still, it seems as thought there are people on this board, some stock analysts still following the company, many institutional investors. and at least one other prominent player in JCP that still bow down before JCP management and worship at the feet of the chosen one, he formerly of Apple.