When Ron Johnson took over as CEO of JCPenney a little more than a year ago, he promised sweeping changes. A new image, an end to sales, everyday low prices, iPad-toting staffers, Genius Bar-like customer service. He tried all that, but the retailer still couldn’t shake its reputation as the place your mom dragged you to buy clothes you hated in 1984, and now Ron Johnson, he’s gone. [More]
JCPenney Ditches President After Only 8 Months
By June 18, 2012
Last Fall, JCPenney’s new CEO, former Apple retail guru Ron Johnson, hired another retail biggie with a charmed resume, Target vet Michael Francis, as president. Francis was charged with the goal of righting the ship and steering JCP back on course. Continuing this nautical theme, Francis has now been put out on a dinghy and cut loose to drift in the sea of unemployment. [More]
FDA: Diabetes Drug Avandia To Be Pulled From Retail Pharmacies In November
By May 19, 2011
For several years, prescription diabetes medicine Avandia has been at the center of a debate about whether the medication’s heart attack risk was high enough to pull it from pharmacies. Now, nearly eight months after the FDA announced it would be introducing strict restrictions on its sale and use, the agency has finally gotten around to announcing the specifics of those restrictions. [More]
GM Makes Profit, Loses CEO
By August 12, 2010
Earlier today, General Motors announced the good news that it turned a profit of $1.3 billion last quarter — oh, and CEO Ed Whitacre will be leaving at the end of the month. [More]
