Apple Retail Chief Ron Johnson Departing to Lead J.C. Penney [Updated]

[Glideslope]

Yay for JCP Genius Bars!

How long till iPad Catalog Orders in each Department?

 

[toddybody]

JCPenny's stock rose at the announcement?

Should be: "Apple Stock rose at the departure of someone who'd rather work at JCPenny's"

 

[Squeak825]

No, what I said was correct. He purchased $50M of warrants to allow him to buy the stock in the future at a price of $29.92. That is consistent of what is posted in the original article.
http://online.wsj.com/article/SB10001424052702303848104576385510781132614.html

Conceded -- miscommunication.

For some reason I thought you were saying he was *granted* the warrants, and thus did not have any cash outlay.

But you are right, he did buy the warrants, and that is what you said.

 

[caspersoong]

I didn't even realize jc penny still existed.

Me too. I just wonder what is going through Steve's mind about this issue and whether he spent hours persuading Ron Johnson.

 

[sfjava]

Well, he hit a home run with Apple Retail so it doesn't surprise me a retail company is ready to make him CEO.

I can't believe he's investing $50 million. Did he make that dough at Apple?!?

I wonder if the $50 million is actually just some form of stock options? I.e., suppose RJ agrees to take a portion of his compensation in the form of stock options as opposed to cash. That's sort-of like he invested the cash in the company.

He has already made more than $400 millions from Apple stock.