Forget Subway, you want to work at JCPenny's. Startng salary 1st Year: $53M per Month

[T-post Tom]

By KAREN TALLEY

Ronald Johnson, who joined J.C. Penney Co. JCP -0.70% as chief executive in November, received $53.3 million in total compensation from the retailer last year.

Mr. Johnson, a former Apple Inc. executive, received a base salary of $375,000 and $52.7 million in stock awards, according to a regulatory filing. Mr. Johnson's performance-based bonus was $236,000, which the company said was pro-rated based on his period of service during the fiscal year. He also received compensation valued at $13,000 for personal use of the company's aircraft.

Myron "Mike" Ullman, whom Mr. Johnson replaced, received $34.6 million in compensation. Mr. Ullman received $1.49 million in salary, $11.4 million in stock awards and $3.6 million in stock option awards. Mr. Ullman's performance-based bonus was $1.9 million and the change in the value of his pension plan was $857,000. Mr. Ullman also received $15.3 million in "other compensation" that included a $10.1 million "transition services," payout, $4.8 million for stock options that would have been forfeited and $363,000 for personal use of the company's aircraft.

J.C. Penney brought on a number of other executives during the year, including a president, a chief operating officer and a chief talent officer, all of whom received multi-million dollar signing bonuses.

The company is in the midst of trying to reinvent itself, eschewing its old way of constant daily promotions and relying largely on single prices and offering numerous "stores within stores."

In its annual report filed earlier this week, the new strategy is listed under "risk factors." The company says there is no guarantee it will be able to get its new approach in place and if it doesn't, the business and financial results could be adversely affected. Penney also says changes to its pricing strategies could result in "a prolonged decline" in sales.

http://online.wsj.com/article/SB1000...413344804.html

[Iz Zat Chew]

I was in a JCP store over the weekend. It resembled Montgomery Wards in the few months before they closed down. To me it looks like JCP is on it's way out.

Those getting the big bucks should put it away for a rainy day, the storm is a comming.

[Mr. Flopnuts]

Originally Posted by blaise

Comparing the conditions of modern day Americans to slavery is pretty dumb.

And what do you mean, "****ed" for life? At what level of economic comfort does one become no longer, "****ed"?

I don't think it's dumb. Cracking the whip psychologically instead of physically is certainly less physically painful, but that doesn't mean it doesn't hurt.

You've got one shot. One shot to get it right in a time of your life that everyone tends to **** up. If you come from nothing, no one is going to give you a 2nd chance.

Not being "****ed" is making enough money to feed your family, and enjoy some level of reward for the hard work you put in for someone who is profiting off of you at levels never before seen.

Most people don't get it. Most people in those jobs don't have the luxury of working to live, which is the key. Those guys live to work. Otherwise their kids don't eat. There is no time or money to enjoy any part of this life that they deserve for dedicating their lives to a company, and it's success.

Stress is the number 1 killer in this country. Flat out. How many of those guys get a chance to enjoy a small vacation with their families every year to make some memories that will stick for a lifetime? Isn't that kind of what it's all about? Can't happen.

And all of that said, I'm not discounting the ignorance a lot of people have regarding the money they earn, and what they think they're worth in the workplace. That's really the biggest factor. I would never deny that.

However, this country abandoned "I am my brother's keeper" a long time ago. No one gives a shit about anyone but themselves, and hence, here we are. We chose it. So while it's sad to me, it's the reality we've chosen and I have nothing to bitch about.

But let's not pretend that this isn't a form of two wolves and a sheep trying to decide what's for dinner. Actually, it's not. It's a bunch of sheep and a few wolves deciding what's for dinner, and the sheep are dumb enough to start eating themselves. /2ndbatshitcrazyrantover

[Mr. Flopnuts]

Originally Posted by patteeu

You're special dammit. You'll make it!

I appreciate the support pat. I have the same confidence in you.

Originally Posted by Donger

No, that isn't correct.

I'm aware of that. Most people aren't though. Hence, here we are.

[Donger]

Originally Posted by Mr. Flopnuts

I'm aware of that. Most people aren't though. Hence, here we are.

I think it's indicative of the times. People think they are entitled and obligated to have more than what their talent, skill and desire warrant.

[kstater]

So at what point does that money start trickling down?

[Mr. Flopnuts]

Originally Posted by Donger

I think it's indicative of the times. People think they are entitled and obligated to have more than what their talent, skill and desire warrant.

I absolutely agree with that. Would you deny that people are thinking that way in some part because of the lives they watched their parents lead, and the inability for them to live the same life while doing the same things their parents did?

I'm in no way justifying the entitled attitude of people, just pointing out where some of it is coming from. And that in no way includes the shitheads that want to sit around on their asses doing drugs, ****ing off, and expecting everyone else to support their lifestyles.

I'm talking about hard working people who are just trying to get by and enjoy some semblance of their family and personal lives in this world. They're out there. I promise. You just can't see them because they're covered in shit.

[Donger]

Originally Posted by kstater

So at what point does that money start trickling down?

Re-elect Obama: "Gotta spread that wealth around."

[Donger]

Originally Posted by Mr. Flopnuts

I absolutely agree with that. Would you deny that people are thinking that way in some part because of the lives they watched their parents lead, and the inability for them to live the same life while doing the same things their parents did?

I'm in no way justifying the entitled attitude of people, just pointing out where some of it is coming from. And that in no way includes the shitheads that want to sit around on their asses doing drugs, ****ing off, and expecting everyone else to support their lifestyles.

I'm talking about hard working people who are just trying to get by and enjoy some semblance of their family and personal lives in this world. They're out there. I promise. You just can't see them because they're covered in shit.

I'm sure that there are people out there in that situation. But, I don't see why this story is related to their struggle.

[Mr. Flopnuts]

Originally Posted by Donger

I'm sure that there are people out there in that situation. But, I don't see why this story is related to their struggle.

It was just a couple of bat shit crazy rants. And I'd wager a few of them work for 17k a year for JC Penney. Regardless, it really doesn't relate to this story.

[blaise]

Originally Posted by Mr. Flopnuts

I don't think it's dumb. Cracking the whip psychologically instead of physically is certainly less physically painful, but that doesn't mean it doesn't hurt.

You've got one shot. One shot to get it right in a time of your life that everyone tends to **** up. If you come from nothing, no one is going to give you a 2nd chance.

Not being "****ed" is making enough money to feed your family, and enjoy some level of reward for the hard work you put in for someone who is profiting off of you at levels never before seen.

Most people don't get it. Most people in those jobs don't have the luxury of working to live, which is the key. Those guys live to work. Otherwise their kids don't eat. There is no time or money to enjoy any part of this life that they deserve for dedicating their lives to a company, and it's success.

Stress is the number 1 killer in this country. Flat out. How many of those guys get a chance to enjoy a small vacation with their families every year to make some memories that will stick for a lifetime? Isn't that kind of what it's all about? Can't happen.

And all of that said, I'm not discounting the ignorance a lot of people have regarding the money they earn, and what they think they're worth in the workplace. That's really the biggest factor. I would never deny that.

However, this country abandoned "I am my brother's keeper" a long time ago. No one gives a shit about anyone but themselves, and hence, here we are. We chose it. So while it's sad to me, it's the reality we've chosen and I have nothing to bitch about.

But let's not pretend that this isn't a form of two wolves and a sheep trying to decide what's for dinner. Actually, it's not. It's a bunch of sheep and a few wolves deciding what's for dinner, and the sheep are dumb enough to start eating themselves. /2ndbatshitcrazyrantover

More people live to work because of their own decisions (and often times just bad luck) than because of what a CEO makes. That's a struggle as old as human existence I would think. It's life. People toil, people work. I doubt the JC Penney cashier in 1950 was doing that great.
I just don't feel that sorry for a JC Penney cashier, or almost any American, lamenting their lack of opportunity when I look and see immigrants standing on a street corner willing to dig a ditch in 100 degree heat for a day's pay and no guarantee the next. Yeah work sucks. Yes it's stressful to make ends meet, but I refuse to view myself as a slave to any system when I have a car and a home and good health and food on the table.
Nobody decides what I eat for dinner but me.
I disagree with the notion that the country has abandoned "my brother's keeper", too. We just went out a couple of weeks ago and collected more than 1,000 cans of food for a food bank with my son's Cub Scout Pack. We went out yesterday and cleaned all the landscaping in front of our school. My old church (before I moved to TX) built whole houses for people in New Orleans. The church I go to in TX travels to South Africa (on the church goer's own dime) to help impoverished people. I could list many more. I just think that's false, the idea that people don't care. I know many people that give their own time, money and effort to help their brother.

[Mr. Flopnuts]

Originally Posted by blaise

More people live to work because of their own decisions (and often times just bad luck) than because of what a CEO makes. That's a struggle as old as human existence I would think. It's life. People toil, people work. I doubt the JC Penney cashier in 1950 was doing that great.
I just don't feel that sorry for a JC Penney cashier, or almost any American, lamenting their lack of opportunity when I look and see immigrants standing on a street corner willing to dig a ditch in 100 degree heat for a day's pay and no guarantee the next. Yeah work sucks. Yes it's stressful to make ends meet, but I refuse to view myself as a slave to any system when I have a car and a home and good health and food on the table.
Nobody decides what I eat for dinner but me.
I disagree with the notion that the country has abandoned "my brother's keeper", too. We just went out a couple of weeks ago and collected more than 1,000 cans of food for a food bank with my son's Cub Scout Pack. We went out yesterday and cleaned all the landscaping in front of our school. My old church (before I moved to TX) built whole houses for people in New Orleans. The church I go to in TX travels to South Africa (on the church goer's own dime) to help impoverished people. I could list many more. I just think that's false, the idea that people don't care. I know many people that give their own time, money and effort to help their brother.

I can see where my comparison to slavery would strike as a stupid statement when put in those terms. I didn't mean it to be a literal comparison, however since I didn't clarify my version of modern day slavery (which I think I've done over the course of my rants) I'll wear the idiot sticker for the day.

As far as putting in your time and help, thanks. You're a good dude clearly. However, people who really have the money in this country. The old money. They won't ever lift a finger, and there really is no cure for the desire of greed and power in mankind.

That's exactly why I labeled them as batshitcrazyrants.

[blaise]

Originally Posted by Mr. Flopnuts

I can see where my comparison to slavery would strike as a stupid statement when put in those terms. I didn't mean it to be a literal comparison, however since I didn't clarify my version of modern day slavery (which I think I've done over the course of my rants) I'll wear the idiot sticker for the day.

As far as putting in your time and help, thanks. You're a good dude clearly. However, people who really have the money in this country. The old money. They won't ever lift a finger, and there really is no cure for the desire of greed and power in mankind.

That's exactly why I labeled them as batshitcrazyrants.

And I understand that bad things can happen to good people and it can no doubt be difficult and frustrating, and often times not possible, to get yourself out of it, so I know what you're saying, too.

[Mr. Flopnuts]

Originally Posted by blaise

And I understand that bad things can happen to good people and it can no doubt be difficult and frustrating, and often times not possible, to get yourself out of it, so I know what you're saying, too.

You know, this isn't even a personal mission. I made some really poor decisions, and my lifetime from the age of 4 to 21 was ****ed. But I scratched, kicked, and clawed my way to some success in this world. It's not impossible. It's pretty rough when you've never been to jail but still can't get those great jobs you're qualified for because of something stupid you did 3 weeks after you turned 18.

But I believe God blessed me with a shred of intelligence, and that's the reason I was able to do something about it.

I'm just a naive **** who feels horribly for people who don't know any better, that bust their ass, and have no ability to get out of the hole that was dug for them long before they were born.

Again, bat shit crazy. I acknowledge it.

[Mr. Flopnuts]

And 1 more thing. I have no idea what to do for them. So I'm just one of those people that complain all day long that does not have a solution. So I'm not trying to stand on a soap box here.

[patteeu]

Originally Posted by kstater

So at what point does that money start trickling down?

At the point where you get a job because the economy is growing.