Daily Digest

Chief’s Silicon Valley Stardom Quickly Clashed at J.C. Penney

Ron Johnson | Source: The New York Times

“Mr. Johnson wanted to transform Penney into shopping wonderland with designer boutiques and stable prices instead of coupons. But many of his ideas were not tested and soon backfired, and in recent months the board, including William A. Ackman, the activist hedge fund titan who had recruited him, grew impatient.”