Forum Post: 99% Rally to save corporate chain department store from leaving small community.
Posted 12 years ago on Dec. 4, 2011, 12:48 a.m. EST by arcodorko
(49)
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Just thought this was interesting. Is this an example of the 1%'s grip on us and our dependance on them? Or is it a community that appreciate the services it provides? Even a small business owner comments on the business to her store the JC Penny location brings in.
http://www.wdio.com/article/stories/S2397278.shtml?cat=10349
http://www.ashlandcurrent.com/article/11/12/03/ashland-jc-penney-we-need-our-store
JC Penny's CEO is Ron Johnson, former Senior VP of Retail Ops at Apple and was one of the three that helped usher in the Apple Store, before that he was at Target and help it in it's rise. He made $400 million in his 7yrs at Apple, $112mil in one day when he optioned 700k of Apple stock at around 30 bucks and a few hours later sold it at around 120 bucks.
http://articles.businessinsider.com/2011-06-14/tech/30054076_1_apple-shares-gene-munster-ron-johnson
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