Ackman turns back on J.C. Penney, sells entire stake in retailer

Comments (21)
libertadormg wrote:

Bill Ackman has just gorged on a giant slice of humble pie. This is a cautionary tale for all investors who follow the guys who make huge bet’s on 00 on the roulette table because they think they have rigged the wheel. Sometimes the ball doesn’t fall into the slot of the rigged wheel.

Aug 26, 2013 10:07pm EDT  --  Report as abuse

Too funny. The captain will not be going down with the ship. But, you can’t win them all, can you? Win some, lose some.

Aug 26, 2013 10:12pm EDT  --  Report as abuse
OnTheGround wrote:

I was in two JCPenney stores over the weekend. They are looking good. As for Bill Ackman, for all I know he and Ellen DeGeneres are on steroids.

Aug 26, 2013 10:28pm EDT  --  Report as abuse
RD137 wrote:

This isn’t very hard to figure out. JCPenny is not a store where the rich, global elite go to shop, it’s a place where average, middle-class people shop…and the recession never ended for these people.

Aug 26, 2013 10:39pm EDT  --  Report as abuse
Greenspan2 wrote:

Ha-ha sore loser. Any shareholders he has left are probably letting him do whatever he wants. He’s too leveraged to hold on longer.

Aug 26, 2013 10:51pm EDT  --  Report as abuse
momjones wrote:

Hedge fund managers know nothing about retail. When business lays down with investers instead of figuring why customers are leaving, then perhaps it’s time to break up. A long term customer favorite like Penny’s should not be breaking up with customers…this is just poor, nay stupid management.

Aug 27, 2013 10:08am EDT  --  Report as abuse
BobSmith223 wrote:

The only reason to go to a store like Penney’s or Sears is to actually try on the clothes. Stores like Kohls have all the clothes, without all the other stuff that can be bought anywhere online. The big stores are on their last gasps.

Aug 27, 2013 11:42am EDT  --  Report as abuse
forgot0246 wrote:

I’m really glad the economy is doing so well under this administration . Look at all the sales numbers.

Aug 27, 2013 11:45am EDT  --  Report as abuse
CmdrBuzz wrote:

Having Ellen Degenerate as your spokes person certainly did not help. When that happened my family refused to shop there.

Aug 27, 2013 12:00pm EDT  --  Report as abuse
AncestralYuba wrote:

My father always said, “Don’t argue with success.”

Seems Ackman made the classic ego mistake of “remaking” a stable enterprise and undermining JC Penney’s viability.

Aug 27, 2013 12:17pm EDT  --  Report as abuse
SGinNC wrote:

J.C. Penney made a pact with the Devil… Literally.

Aug 27, 2013 12:25pm EDT  --  Report as abuse
VascoDeGama wrote:

so, he’s selling all his shares, most/all of the world’s billionaires are relocating to small, neutral countries, Ovomit has been ordered to light that middle east match (bringing in China AND Russia…) I’d say it’s time to start digging a really big hole.

Aug 27, 2013 12:33pm EDT  --  Report as abuse
Ferstrate wrote:

Where are all the stories on how Penney’s has done with Ellen as the face of JC Penney? Had plenty of them when she signed on with them….They said it showed how the American public has grown to accept, nay, approve of someone of her sexulitical persuasion. (That is sexual and political for those of you who watch her show.) Of course, for them that would be like publishing a story on how America would be better off with Rush Limbaugh as president. They would disavow that they thought Obama was an intelligent president before that would happen.

Aug 27, 2013 12:58pm EDT  --  Report as abuse
Vuenbelvue wrote:

Time to sell the stock to average investors as it slides down and sell new stock to the high rollers that is going up. Grease the wheel, so to speak.

Aug 27, 2013 1:03pm EDT  --  Report as abuse
Vuenbelvue wrote:

Time to sell the stock to average investors as it slides down and sell new stock to the high rollers that is going up. Grease the wheel, so to speak.

Aug 27, 2013 1:03pm EDT  --  Report as abuse
JEFFCOMO wrote:

As soon as George Soros sells his 20,000,000 shares of jcpenney, I’ll return to penneys.

Aug 27, 2013 1:04pm EDT  --  Report as abuse
citizen0339 wrote:

And Barnes & Noble Inc’s retail group head Mitchell Klipper sold about two-thirds of his shares in the beleaguered retailer in the past few days, according to a filing with the Securities and Exchange Commission. These guys must know something is about to happen.

http://www.reuters.com/article/2013/08/27/us-barnesandnoble-klipper-idUSBRE97Q01D20130827

Aug 27, 2013 1:08pm EDT  --  Report as abuse
Ferstrate wrote:

Where are all the stories on how Penney’s has done with Ellen as the face of JC Penney? Had plenty of them when she signed on with them….They said it showed how the American public has grown to accept, nay, approve of someone of her sexulitical persuasion. (That is sexual and political for those of you who watch her show.) Of course, for them that would be like publishing a story on how America would be better off with Rush Limbaugh as president. They would disavow that they thought Obama was an intelligent president before that would happen.

Aug 27, 2013 1:23pm EDT  --  Report as abuse
bebeboOray wrote:

I love JC Penny. I remember mom buying me a really cool pair of “Beatle” boots in 1968. I begged her for them. In fact that was the last time I ever remember buying anything at JC Penny. Yep. It was. 1968.

Aug 27, 2013 2:39pm EDT  --  Report as abuse

jc penney needs to go private… you can not turn this around with so many owners… it is obvious…

Aug 27, 2013 4:09pm EDT  --  Report as abuse
Bjenkum wrote:

Insult middle America to it’s face and you get what you deserve.

Aug 27, 2013 5:31pm EDT  --  Report as abuse
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