RON JOHNSON INVESTOR CONFERENCE CALL

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Posted on 28th February 2013 by Administrator in Economy |Politics |Social Issues

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JC PENNEY BOARD OF DIRECTORS

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Posted on 28th February 2013 by Administrator in Economy |Politics |Social Issues

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RON JOHNSON HARVARD MBA STRATEGY SESSIONS

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Posted on 28th February 2013 by Administrator in Economy |Politics |Social Issues

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CLOSE PERSONAL RELATIONSHIP MY FAT ASS

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Posted on 10th November 2012 by Administrator in Economy |Politics |Social Issues

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War mongering douchebags seem to be having a bad week. The head of the biggest arms dealer on earth just got caught sticking his wick in a subordinate’s cooch. This isn’t just about cheating on your spouse. This is about power and thinking you are above the standards lived by most Americans. Power hungry cutthroat scumbags are the type of people who make it to the tops of major corporations, the government and military. They operate under a different standard and think they are superior to the commoners. They always abuse their power. ALWAYS.
 
The description of why he was fired by the company makes my skin crawl with its Bernaysian spin designed to make it seem like he was just too close to his pal. What bullshit. I’m sure this douchebag will receive a multi-million dollar severance for his dedicated service. This country and its leaders disgust and sicken me.  

Lockheed Martin ousts new CEO for relationship

BETHESDA, Md. (AP) — Lockheed Martin has ousted its president and future CEO over a relationship with a subordinate.

The defense company said Friday that its board of directors asked for and received the resignation of Christopher Kubasik from his role as vice chairman, president and chief operating officer.

Kubasik, 51, was scheduled to become CEO in January.

Lockheed Martin says an ethics investigation confirmed that he had a close personal relationship with a subordinate employee. That violates the company’s code of ethics and business conduct.

“I regret that my conduct in this matter did not meet the standards to which I have always held myself,” Kubasik said in a statement.

Kubasik said that his departure in no way reflects on the strength of Lockheed Martin and he remains confident in the future of the company, where he had worked for the past 13 years.

Kubasik joins a roster of high-ranking executives who have exited their posts in recent years over the fallout from ill-advised relationships.

Among them, former Best Buy CEO Brian Dunn, who resigned from the retailer in April after an investigation found he violated company policy by having an inappropriate relationship with a female employee.

In other cases allegations of improper behavior supported by a paper trail of questionable spending have provided enough fuel to drive top management out of the executive suite.

William Sannwald, a professor of business ethics at San Diego State University, said there’s no easy way to explain why executives continue to be ensnared in these sorts of ethical lapses.

“It just happens, and perhaps it’s the power that comes with the position that makes them feel that they can be above scrutiny,” he said.

As for Kubasik, his choice to get involved with a subordinate clearly reflects on more than just his personal life, Sannwald said.

“It’s poor judgment on his part,” Sannwald said. “And probably Lockheed might be better off that he didn’t take the position, if he exhibits that kind of poor judgment in his own personal relationships.”

Lockheed Martin’s board elected the executive vice president of its electronics systems business to take Kubasik’s role.

Marillyn Hewson, 58, will be president, chief operating officer and a director. She takes over as CEO in January. Hewson joined the company in 1983.

J.C. PENNY – BUG MEET WINDSHIELD

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Posted on 15th May 2012 by Administrator in Economy |Politics |Social Issues

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I hate to keep saying I told you so. Actually I love telling you that. I wrote an article in February called Extend & Pretend Coming to an End http://www.theburningplatform.com/?p=29848 where I detailed how a number of major retailers were toast. They just didn’t know it yet. Here is what I had to say about JC Penney:

“J.C. Penney is a bug in search of a windshield. Their sales have declined from $20 billion in 2007 to $17 billion in 2011 despite increasing their store count from 1,067 to 1,114. Their profits have plunged from $1.1 billion to a loss of $152 million. Their sales per square foot have plunged by 14% since 2007. Turning to a former Apple marketing guru as their new CEO will fail. Everyday low pricing is not going to work on Americans trained like monkeys to salivate at the word SALE.” – James G. Quinn – famed retail expert

The earnings result and announcement that came out after the bell today is the bug meeting the windshield. This company has 1,112 stores and 159,000 employees. Within the next five years they will have ZERO stores and ZERO employees. Book it Dano. This douchebag from Apple thought he could send out some flashy ads in the Sunday paper and fix a dying retailer. So Solly. JC Penny is toast. Think about all those malls with another vacant rotting anchor store. Think about how those mall owners are going to make their  loan payments to the Wall Street Dickhead banks without rental income. I wonder how many billions of commercial loan writeoffs await these banks as they continue to reduce their loan loss reserves. I hate when I’m right. No I don’t. 

J.C. Penney swings to loss, discontinues dividend

NEW YORK (MarketWatch) — J.C. Penney Co. /quotes/zigman/237947/quotes/nls/jcp JCP -10.44% said on Tuesday that it swung to a first-quarter loss of $163 million, or 75 cents a share, from a profit of $64 million, or 28 cents, a year earlier. Sales fell 20% to $3.15 billion. On an adjusted basis, the company said it lost 25 cents a share. Analysts surveyed by FactSet estimated the Plano, Texas-based company to lose 1 cent a share on sales of $3.45 billion. Comparable store sales tumbled 19%, also missing estimates. The company said it expects to post additional restructuring charges this year and may incur additional inventory write-downs as it exits certain businesses. It no longer expects to meet its profit forecast for the year of $1.59 a share, but still kept its forecast of adjusted profit of $2.16 a share. It also said it will discontinue the quarterly dividend of 20 cents a share, resulting in cash savings of about $175 million, which it will use to fund its transformation plan. Penney shares slumped 14% in after-hours trading after declining 0.7% to $33.32 in regular trading. The company’s stock has declined 5.2% this year, lagging that of rivals including Macy’s Inc. /quotes/zigman/467976/quotes/nls/m M -0.06% , Kohl’s Corp. /quotes/zigman/231595/quotes/nls/kss KSS -0.76% and Sears Holdings Corp. /quotes/zigman/95136/quotes/nls/shld SHLD +0.38% .

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