Talk about bad timing!
And yet, it weathered the storm and came back stronger than ever.
Perhaps an undertaker named Mr. Coffin, or an environmental activist named Ms. Green?
Well, add one more to that list: James Cash Penney.
Well, theUS Inflation Calculatortells us that a billion dollars back then would be worth nearly 10 billion today.
The young man’s name?
And his store, of course, was to become the world’s largest retailer,Walmart.
(Thanks in no small part to Walton, undoubtedly their most successful ex-employee ever.)
Another employee in Florida toldTodaythat price doubling wasn’t the worst of it.
What will new ownership mean for JC Penney?
William K. Snyder, a partner in turnaround management firm CR3 Partners, seems to agree.
It could possibly be a fairly merry Christmas for JC Penney, after all.
