J.C. Penney's Bad Vibes Lead to a Death Watch

Never have I seen so much bad news about a company I really like. I think Ron Johnson, president and CEO of J.C. Penney, is a capable strategist. His idea to streamline the company and reduce sales is admirable. While his instincts may have been right, his guidance of the operation has been flawed. For starters, he never tested his merchandise pricing concept prior to putting it into action. Now the news is getting very bad, which will only make matters worse for the future of the company. Bad news begets bad news. Here are some recent observations: