Jan. 24 at 5:51 a.m.
Filed under:
Retail
By Associated Press
J.C. Penney Co. is closing some stores, outlets and call center locations and continuing to work on an exit from its catalog business in an effort to streamline operations and boost profits. Locally, the J.C. Penney at Spring Hill Mall in West Dundee is slated for closure.
The department store operator also said Monday that Vornado Realty Trust Chairman Steven Roth and activist investor William Ackman will become board members. Penney’s enacted a “poison pill” in October after both Ackman and Vornado took large stakes in the company. Get the full story »
By Dow Jones Newswires-Wall Street Journal
General Growth Properties Inc.’s incoming chief executive is beginning to shuffle the mall owner’s executive ranks in advance of his arrival.
Sandeep Mathrani, the Vornado Realty Trust veteran who officially will join General Growth as CEO on Jan. 17, disclosed in an email sent to General Growth employees late Tuesday that long-time executives Robert Michaels and Ron Gern will leave the mall owner. Get the full story »
By Reuters
Bankrupt mall owner General Growth Properties Inc. is in talks to hire Vornado Realty Trust executive Sandeep Mathrani as its next chief executive, The Wall Street Journal reported Sunday.
Get the full story »
Oct. 18, 2010 at 10:56 a.m.
Filed under:
Chicago executives,
Investing,
Retail,
Stock activity
By Reuters
J.C. Penney’s board approved a “poison pill” designed to fend off potential takeover threats after hedge fund manager William Ackman acquired one-sixth of the retailer. The company’s shares fell 3 percent on the news. Get the full story »
Sep. 10, 2010 at 7:19 a.m.
Filed under:
Commercial real estate
From the Chicago Sun-Times | Christopher Kennedy, president of the Chicago Merchandise Mart, said Thursday the massive art-Deco office building on the Chicago River is not for sale, contradicting a report last week in Crain’s Chicago Business. Get the full story >>
From Crain’s Chicago Business | Vornado Realty Trust has been shopping Chicago’s Merchandise Mart, the massive 3.5-million-square-foot office building along the Chicago River, attracting one $1.25 billion bid that never materialized into a deal. Vornado is reportedly still seeking offers on the building which was once owned by the Kennedy family. Get the full story>>
