i think j.c. penny is a disappointment, obviously. >> rose: target was a disappoint. >> target worked out for investors. and borders, management asked us to help, when the business got in trouble we go of did our best, but the wind of change harmed us. but, you know, investing is not a business where every investment is profitable. i would argue our batting average is extremely high. >> rose: i if you were to talk to the shareholders of canadian pacific i think they would give you universal appreciation for what we accomplished. it was the worst-run railroad in north america, the last 10 years. the stock was 46 at the time. we took our investment in the company. we bought a 14% stake in the business. we ended up replacing management with a guy naiment hunter harrison, the greatest railroader of all time, and it is becoming quickly the best railroad in north america. the stock almost tripled the last two years, and everyone is happy. not every investment we're -- >> warren buffet made a huge investment i

j.c. penny has been a big disappointment and you learn from mistakes like that. general growth has been an incredible success. you need to do a sufficient amount of research and homework and when you place your bet you have confidence-- a business you can look very silly before you're proven right. i looked very sill nem.b.i.a., and there was a lot of scrutiny in the press -- >> did you ever doubt yourself? >> no. >> rose: did you ever doubt

of j.c. penny. i haven't made day-to-day decisions in the company.job is to make decisions about hiergs and firing c.e.o. and long-term strategic direction of the business. the media, because we are probably the highest visibility person on the board, when j.c. penny was-- you know, when the stock went two 20 to 42 on ron being hired, we got too much credit for

. >> abc news "nightline" brought to you by j.c. penny. [ girl ] by the way, this is not what back to school looks like. the only thing anyone really cares about is that first day. everyone will be stylin' their faves. love that! but i'll be bringing it every day, 'cause i went to jcpenney. i know, right? that's what i'm talking about. they have so much great stuff. oh, sweet! anyway, what's your first day strategy? [ female announcer ] doorbusters friday 3:00 to close, saturday 9:00 to 1:00. come find your first day look at jcpenney. people wait for this promotion all year long. and now there are endless ways to love it... from crispy to spicy to savory. [ man ] you cannot make a bad choice. [ male announcer ] red lobster's endless shrimp! as much as you like, any way you like! you can have your shrimp. and you can eat it, too. [ male announcer ] try our new soy wasabi grilled shrimp or classic garlic shrimp scampi. all just $15.99 for a limited time. it's gonna be a hit this year. [ male announcer ] red lobster's endless shrimp is now!

sears and j.c. penny after getting hammered after a report said the smaller vendors are halting shipments because they are not extending credit for deals. an analyst downgraded the stock saying the business still has not stabilized but this morning, jc penney is swinging saying the key vendors are shipping and they have liquidity. >> thank you, jane at 6:49. our meteorologist is checking the computer with the latest on the forecast. the conditions are changing. we have the clouds that were not there, then they are here, then they going away. >> peekaboo. we have winds at 9:00 this morning to 9:00 this evening with strong winds along the coast and right now through 5:00 tomorrow morning from the northwest and hopefully you will see as much sunshine as year. concord at 15 miles per hour, and 28 in fairfield so the temperatures will be cooler-than-average. pittsburg and antioch in the low 60's. the north bay is 45 in santa rosa and fog and 48 in novato. most of us are in the 50's with 55 in san francisco and

the folks at j.c. penny are so angry with him, they're trying to oust him from the board.ut wait, they might make peace at any moment. we have the latest. there's meetings going on right now. we have been waiting for hours to see if they're going to settle their differences. we have court any rney reagan n. "stubborn love" by the lumineers did you get my email? i did. so what did you think of the house? did you see the school ratings? oh, you're right. hey babe, i got to go. bye daddy! have a good day at school, ok? ...but what about when my parents visit? ok. i just love this one... and it's next to a park. i love it. i love it too. here's our new house... daddy! you're not just looking for a house. you're looking for a place for your life to happen. they're the days to take care of business.. when possibilities become reality. with centurylink as your trusted partner, our visionary cloud infrastructure and global broadband network free you to focus on what matters. with custom communications solutions and responsive, dedicated support, we constantly evolve to meet your n

j.c. penneys has done is like mcdonald's saying we are changing our cheeseburger taste, you have to like it. penniesd -- j.c. penneys saying what you have known of us, we're putting it on the side, the customers have not standed. this is cutting at the edge of loyalty for the customers, it may take a while for loyal j.c. penney customers to proof in the brand against -- to belief in the brand again. neil: i am rather proud he says, enough is enough, i'm cutting my losses, that is a big mistake that small investors do, this he is saying, it is not working i'm going. neil: does he lead to the tajes of the stock? -- tanking of the stock, people lose confidence in the stock he is losing? >> some might but we've seen other large investors come in say, you know what maybe it turns out to be a best buy look at gap, two years ago horrible they revamped store, and their product line they turned it. it is gap and best buy or gimbels from 80s, we don't know yet. neil: i don't know, there have been a lot of attempts you bringing that back to life, i don't know. know. >> a lot have not worked? >> do you feel tha

j.c. penney and says although he's leaving the bored. it's a win for the struggling retailer because he was able to raise concerns about troubles at the chain. so what does it all mean for penny's future? courtney regan has more now. >> reporter: it's been a rough 18 months for j.c. penney and the drama is far from over. bill ackman resigned, a move that's surprising after the hedge fund manager sent two letters advocating for number of executive changes, including the replacement of the bored chairman thomas and a speedy search process. as akman resigns, j.c. penney and former department store ron tyso will replace akman on the j.c. penney bored with a yet to be named bored member. akman may no longer have a bored seat but with 18%, one of the largest investors. it's worth half the $18 billion and because akman has privy information he can't sale shares at this time. many believe his resignation removes some leadership uncertainty but doesn't solve the issues of poor sales and low traffic in stores. those continue to be j.c. penney's biggest problems. >> i don't think many consumers that shop at j.c. penney are paying much attention to the paid in place or as the world turns a

. >> talk about being penny wise, a few weeks back, colin carter made a bearish bet on j.c. penney, can they squeeze out more profits? . plus, car trouble ahead? ford business has never been better. why is carter worth saying shares are about to do this. he'll reveal when "captions action" returns. [ music playing ] [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. . >> a couple weeks back with the super power force made a bearish bet on j.c. penney, it was so successful it inspired vh-1 to make a special about it. take a look. >> reporter: it was t

j.c. penney violated the exclusive deal with martha stewart when it started selling her home products in her stores. pennys those items were in special stand alone areas so it was not a violation. stewart testified she's flabber gassed that macy's objected -- objected to her deal with j.c. penney's. >>> google's phones commanded almost three quarters of the global smartphone market in early 2013. 80% of all downloads from google play are for games. >>> a lawyer representing the mayor of san diego has ignited another controversy until mayor's sexual a artment scandal. the mayor says the city should foot the bill for him for his sexual law enforcement against him. thethe city council unanimously voted against that. >>> there is the labor groups say that efrin key ria has shown bad choices and bad behavior and they want him to step down. >>> the bryad group operates 13 friday's franchises in new jersey and one in the bay area. the restaurant company says it will not fight charges that it substituted cheap alcohol brands for more expensive liquor at several of its new jersey restaurants. the managers at the r