Quote:
Originally Posted by GA Russell
I notice that some of the comments following the article mention that the activist investor whose fund owned 15% of JC Penney sold his entire stake the other day, taking a $600 million loss.
The comments wonder if these big shots in retailing know something we don't know.
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That guy was fired from JC Pennys (which is also in trouble, but has nothing to do with B&N).
Soon, the buy from B&N will say he's just diversifying. It's like when the CEO gets fired. It's not because of the stock or the performance of the stores it's because he wants to spend more time with his family.
I hope that parts of it can stay in business. Amazon needs the competition, they really do.