Ron Johnson was brought into JC Penney(JCP) by Bill Ackman to be CEO. He was a rockstar on his entrance in 2011, coming off the success of the Apple(AAPL) Store and, previously, success at Target(TGT). Ackman thought he was getting Steve Jobs but he got Gil Amelio. Seventeen months later, Johnson was out, his reputation more like Vanilla… Read More »
Herbalife(HLF) has been the target of a very public campaign by Bill Ackman, who is short and insists the company is a massive fraud. This morning, Herbalife is clearly enjoying the schadenfreude as Ackman prepares for a conference call in support of his long position in the embattled Valeant(VRX). The entire text of the press release: “I hope Bill… Read More »
Nearly two weeks after serious allegations emerged about Philidor and Valeant’s(VRX) relationship with it, and five days after a conference call in which Valeant defended the indefensible, Valeant has finally cut ties with Philidor and Philidor will cease its operations. We had urged this as the only rational action for Valeant, and were surprised when Valeant instead spent… Read More »