Usman Shah
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Ackman Aggressive with JCP

J.C. Penney Company Inc (NYSE: JCP) has been in trouble latley due to many reason the stock was on a downward trend for a week now until today. The stock is currently up 6.48% at $13.63 a share, this huge jump was based on one letter written by Bill Ackman. Ackman wrote a letter telling JCP he wants a new CEO within 30 days. The company had fired former Apple Inc (NASDAQ: AAPL) Ron Johnson in April, since then Mike Ullman has been an interim CEO. Ackman now wants a permanent CEO and he wants one fast. "Considering the scale of J.C. Penney, the seriousness of the issues it faces, and the complexity of its business, there are only a handful of executives with sufficient talent and experience to take on the CEO role. We need a CEO with extensive, ideally department-store retail experience, strong operational skills, and a strong public company track record." Ackman wrote in his letter. I like how Ackman is being aggressive towards JCP, he wants the company to turn around. A new CEO maybe able to guide the company in a better direction. Hey if a letter can make the stock jump 6.8% then imagine the jump it would have after hiring of the new CEO.