J.C. Penney Draws $850 Million from Revolving Credit Line
J.C. Penney said on Monday that it had drawn $850 million out of a $1.85 billion revolving credit facility to help buy inventory as it plots its course after a failed turnaround.
turnaround
J.C. Penney Investors Worry Johnson's Exit Means New Makeover
J.C. Penney’s controversial CEO Ron Johnson has been ousted after less than two years on the job. The company’s revenue fell sharply last year as Johnson implemented his plan.
Detroit Emergency Financial Manager Kevyn Orr Had Tax Liens
Kevyn Orr, Detroit's new emergency financial manager, had two outstanding liens on his $1 million home in Chevy Chase, Md., for $16,000 in unemployment taxes in 2010 and 2011.
Marissa Mayer to Move Yahoo Back to Tech Roots
Long torn between whether it should focus on media content or on tools and technologies, Yahoo under Marissa Mayer is being positioned firmly in the latter camp, according to sources inside and outside the company.
Remember When Apple Was the J.C. Penney of the Tech World?
There's no question that what Apple has accomplished in the past 15 years is truly remarkable. But even more remarkable is where Apple was when Steve Jobs returned to the company in 1997 -- struggling to even survive.
Can a New Guy Save Best Buy?
Best Buy reported another pretty dismal quarter last week, but some investors got excited anyway. Interim CEO Mike Mikan headed up the conference call for the first time and talked some interesting turnaround strategy for the retailer. But should the market buy any of it?
Why J.C. Penney Will Never Be Great Again
J.C. Penney's new CEO plans to remake the tired old department store chain a la the Apple Store and Target, and his fresh ideas are earning him applause. But as investors and industry watchers cheer Ron Johnson's turnaround concepts, they're ignoring some big potholes on the road ahead.
Is Yahoo's New CEO Sunk Before He Even Starts?
On Wednesday, Yahoo named Scott Thompson as CEO. He's a former PayPal president and veteran technologist -- and that's the trouble: Yahoo is following the same strategy that led it to hire Carol Bartz, who was ousted for failing to turn the company around.
Resurgent Ford Awards Top Two Execs $99 Million in Stock
Ford CEO Alan Mulally and Executive Chairman Bill Ford, have been awarded $56.5 million and $42.4 million in stock, respectively, in recognition for the company's stunning turnaround, which resulted in the automaker raking in $6.6 billion last year -- its best performance in more than a decade.
The Food Emporium Could Be Up for Sale
Great Atlantic & Pacific Tea Co., owner of the A&P supermarket chain, may sell its Food Emporium stores as the 151-year-old company continues to try to turn around its finances by cutting costs and revamping leadership.