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What am I missing?


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Are these people really this stupid??  You cannot make money buying businesses and closing them.  And why would you go get the CEO from JC Penny?  How are they doing?  From what I see they are all but dead.  You are going to pay big money for a CEO whose big idea is to close a bunch of stores because sales did not go up fast enough??  Seems ridiculously short sighted and stupid.



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The JC Penny CEO part is odd.  The other part can make sense if you are spending more on inventory and labor than a store produces.  You aren't making money from the store being closed, but you aren't losing it either which has the same impact on a balance sheet.  

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