Last week, JCPenney took a hit when board member Steve Roth's Vornado Realty Trust decided to try to dump 10 million shares — 40 percent of its stake. JCPenney CFO Ken Hannah spoke at Bank of America's 2013 Consumer & Retail Conference today and he revealed what happened in the days before and after Roth made the move. The company had a board meeting in the days leading up to its Q4 earnings release on February 27. Hannah didn't see any change in Roth's demeanor during that meeting. "Stev...
JCPenney CFO: Steve Roth Dumped 10 Million Shares Because He Concluded It 'Just Wasn't Worth The Effort' (JCP)
Business Insider - 13 Mar 2013 23:41
Last week, JCPenney took a hit when board member Steve Roth's Vornado Realty Trust decided to try to dump 10 million shares — 40 percent of its stake. JCPenney CFO Ken Hannah spoke at Bank of America's 2013 Consumer & Retail Conference today and he revealed what happened in the days before and after Roth made the move. The company had a board meeting in the days leading up to its Q4 earnings release on February 27. Hannah didn't see any change in Roth's demeanor during that meeting. "Stev...
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