J.C. Penney Goes From Bad to Dire

I have to admit, this Penney-Ackman-Ullman saga has become pretty difficult to stomach. When Bill Ackman took a huge stake in J.C. Penney (JCP) and then pushed for Ron Johnson to come in and turn it around, we were willing to give him the benefit of the doubt. Penney had been struggling for years, and Johnson seemed like an intriguing candidate, given his excellent work with Apple's (AAPL) retail stores.

But this one has been downhill ever since, and as someone who comes from a retail background and has been steeped in it all my life, this Penney tale of woe sure doesn't feel like it's going to end well....863 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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