Usman Shah
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Ackman Out of JCP

J.C. Penney Company Inc (NYSE: JCP) has finally worked it out with Bill Ackman to leave the board, Ackman firm Pershing Square Capital Management owns 18 percent of J.C. Penney. It hasn't been said if he will sell the shares yet or not but if he does sell the shares he would take another big hit this summer this time over $300 million. J.C. Penney is currently trading at $13.35 a share 3.48% below the closing price of yesterday. I think Ackman leaving is a good thing for J.C. Penney, now once he sells his shares maybe the company's luck will to a turnaround.