J.C. Penney bonds and credit protection were mixed this morning as shares dropped about 11% in huge volume, at $14.09 per share, on news that the struggling retailer reinstalled its previous CEO in place of retail-whiz Ron Johnson after just 1.5 years on the job. Myron "Mike" Ullman is back on board and was Johnson's predecessor for about seven years, filings show.
J.C. Penney bonds and credit protection were mixed this morning as shares dropped about 11% in huge volume, at $14.09 per share, on news that the struggling retailer reinstalled its previous CEO in place of retail-whiz Ron Johnson after just 1.5 years on the job. Myron "Mike" Ullman is back on board and was Johnson's predecessor for about seven years, filings show.
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