[nascarnation]

Per the WSJ, Johnson never relocated from California and rarely worked more than 3 days a week.

[jimbo123]

From NY Times:

Mr. Johnson dismissed most of the top executives from Mr. Ullman’s reign and brought in his own team, largely from Apple and Abercrombie & Fitch.

But few of the top executives he had hired relocated to Texas, instead working there a few days a week, staying “quarantined,” as a veteran put it. Penney hands used the acronym AAPLE to refer to the newcomers — Apple & Abercrombie Paid to Lose Earnings.

http://www.nytimes.com/2013/04/10/business/how-an-apple-star-lost-his-luster-at-penneys.html

[RoosterRedux]

Having been a small time CEO of a few wee companies, I can tell you that getting a grip on the future for a retail company is a roll of the dice.

If Johnson had been called in as a turnaround expert, that is another kettle of fish. He was called in to make a transition to the future of retailing in a time when online sales are shifting the landscape.

Who the h$ll knows where it is going to end up.

I for one like the Amazon model. No bricks and mortar...just wire and warehouses. But it is hard to move Penny's into that model without killing its brand.