By Bill Hare
The writer appears at JCPenney from its starting in 1902 as a dry items shop, via its upward thrust right into a profitable chain of full-service shops rivaled merely by way of Sears, Roebuck, to its fall out of business within the Nineties as a result of company bungling
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Extra resources for Celebration of Fools: An Inside Look at the Rise and Fall of JCPenney
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Penney spoke no more and found himself sitting in the pew beside her. He bowed his head. Moving his lips but uttering no sound, he said a bedtime prayer from his childhood. In later years during his almost evangelical speeches across the country, he would say that what happened next was a miracle. Because at that moment in the chapel an enormous weight began to lift itself from his frail shoulders. It rose up through the ceiling plaster to the sanitarium roof, where it succeeded timber and tiles and ascended into the cold night and disappeared into the ether.
And to what extent would Penney allow his affairs to be redirected? Chapter 5: The Bailout 33 34 Chapter 5: The Bailout Penney's reply was smugly beside the point. "You know, sir, there would be no J. C. " The attorney detested his artless reply, but it was the only thing he could think of: "Be that as it may, Mr. Penney, we feel that your personal situation is potentially rather grave. We recommend, therefore, that stern measures be taken. " The attorney handed Penney a string-tied cardboard wallet.
He was not close to being a man's man (like Earl Sams) and never would be. And, of course, Maynard had heard that Penney was oddly quiet and distant these days, just going through the motions. So he was not only broke but apparently now a little off his rocker—later confirmed when word of his Battle Creek stay got around. But nevertheless—! Maynard pounded his desktop. Outside in the hallway Irene reacted, but managed to hold her tongue. Maynard heaved a sigh and then whispered to himself. "Well, heal fast, Mr.