JCPonderings
I do not do links much - let alone non-finance links. However like much of the financial world I am wondering whether Johnson can transform JC Penney before he has no liquidity left to play with. The financials are a train-wreck. But leaving a third tier retailer alone in America is also a near-guaranteed train wreck - if you left JCP untouched it would slide from irrelevance to bankruptcy over maybe a decade.
The turnaround logic looks from the outside like:
We must do something.
This is something.
Therefore we must do it.
The link below is a nuanced fashion-based examination of this issue.
http://jcponderings.weebly.com/
Enjoy.
John
PS - The link to this article in Vogue is worth the price of admission ... http://www.vogue.com/vogue-daily/article/what-price-glory-jcpenney/#1