J.C. Penney adopts poison pill
Plano, Texas — J.C. Penney said Monday that it has adopted a shareholder rights plan, or so-called poison pill, in light of "recent rapid accumulations of a significant percentage of the company’s outstanding common stock." The plan has a term of one year. The rights have a 10% trigger.
The news follows the announcement that activist investor Bill Ackman’s Pershing Square Capital Management and real estate firm Vornado Realty Trust recently disclosed a 16.5% and 9.9% stake each in the retailer.
Retired Kodak researcher receives honor
ROCHESTER, N.Y. Retired Eastman Kodak Co. researcher, Steve Sasson, is one of three three recipients of the National Medal of Technology and Innovation, the highest honors bestowed by the United States government on scientists, engineers and inventors.
Said Kodak chairman and CEO Anthony Perez, “On behalf of Eastman Kodak Co., I am proud and delighted to congratulate Steve Sasson on being selected to receive the National Medal of Technology and Innovation, this nation’s highest honor for scientists, engineers, and inventors. Steve’s groundbreaking invention of the digital camera in 1975 unleashed the power of digital imaging for the benefit of the world. His foundational work led directly to a series of life-enriching advances in many fields beyond photography, such as medicine and exploration. I congratulate him and the entire research staff at Kodak for their work in making digital imaging a reality.”
Sears launches charitable jewelry line
HOFFMAN ESTATES, Ill. Sears has launched the Knots of Love jewelry line, an exclusive new charitable jewelry line making its debut online and in-store this month.
The line is being introduced with the support of Sun Source Jewelry and offers an extensive assortment of pendants, rings, and earrings, characterized by the signature Knots of Love heart.
“We chose to collaborate with the Knots of Love charity because we believe in its mission, and because the jewelry designs, representing kindness and love, also signify our commitment to building a relationship with our customers,” said Megan Featherston, VP jewelry for Sears Holdings.”The Knots of Love collection offers a line worthy of its fine jewelry designation, while also allowing our customers to proudly display their support for a worthy cause.”