Ackman Rings Up Gain at Penney…For Now
How did Ron Johnson, widely credited with the success of Apple’s retail operation, end up at J.C. Penny? Hedge fund activist Bill Ackman, J.C. Penney’s largest shareholder, is responsible for recruiting Johnson, according to sources.
June 14, 2011
William 'Bill' Ackman, founder of Pershing Square Capital Management LP, speaks at the 12th Hedge Funds World Conference in Dubai, United Arab Emirates, on Tuesday, March 8, 2011. Nouriel Roubini, the economist who predicted the global financial crisis, said the European Central Bank risks undermining the recovery in some nations by increasing borrowing costs "too soon." Photographer: Gabriela Maj/Bloomberg *** Local Caption *** William Ackman
Gabriela Maj/Bloomberg
