and then to the hilton, mike an did dunne and the leadership who took a chance here. they took quite a rest while the rest of the industry was actually preparing for a major war with our union over the course of the next, what would have been probably the next year or two, the hilton corporation said maybe there is a way we can avoid the drama and turmoil that is brought to this city all too frequently because of concessionary bargaining that some employers try to impose on the union. so, after several months we have reached an early agreement, our contract doesn't expire until august 2013, so the hilt on and our union reached and agreement. i think this shows a commitment to go the highroad. often there are too many hotels in this city that want to go the low road, the meridian and the hyatt corporation have been notorious for the way they treat their workers. mike dunne has shown corporations there is a better way of guaranteeing customer service and for workers that provide that customer service. this contract provides three things: no. 1, addresses food and bevera

mike ullman has been appointed the new ceo. ullman had been the ceo before ron johnson took over. let's get more on this news. bring in liz dunnto have you with us. >> thanks for having me. >> what's your initial take on -- does your opinion of the stock change dramatically based on this news? >> well, no. i think the announcement suggests to us that things are in flux at jcpenney. i don't think they can return to the old strategy and all will be well. they have big questions to answer and i think the release hinted to that when ullman said, he's got some work to do to figure out what's salvageable. >> why do you think they brought ullman in? the initial reaction here amongst the traders is why would you bring back the guy who steered jcpenney to a point where they thought they needed to bring fresh blood in? >> yeah, i think it's probably pretty awkward. bill ackman has made a big deal in his presentations about how the stock didn't perform under ullman's tenure at the company. and so i think -- i mean, just guessing as an outsider, it looks to me like there was probably a little bit of disagreement among the board of directo