marvin ellison has been working side by side with mike ullman for the past ten months as a board membery of ensuring a smooth transition especially after ron johnson was ousted and mike ullman had to come back. prior to jcpenny, he was at target and home depot. most of the experience is in operations and logistics causing some concern about his lack of merchandising experience in soft goods but they aren't worried about it. they know ellison from the time at home depot. he connects well with the mass merchant consumer and he can always hire people in areas where he's stress strong strong. while they crafted the current strategy and the upcoming holiday strategy ellison enherts a fragile retailer. at the peak they generated $32.3 billion in annual sales and just $12.2 billion in annual sales. they've shed 41% since ullman has returned to jcpenny. now, the company has set some pretty strong financial targets. some analysts are concerned they're so optimistic. some say what they have to do is maintain current momentum and step it up and improve profitability and free cash flow which that h

johnson: what you better do if you're going to do something like that is let me get mike ullman on it and you better seek his advice on it. you might say i'm going to call for the two of us and ask what their opinion is because i sure don't want to get the candidate to have him set the president called up and modified it up and chew away our victory by compromise. i could do that right click unless the request came came from clint because he might feel i moderated his proposal. you follow me? pres. johnson:sen. gore: yeah. pres. johnson: i would say that he is fond of key goa him and find out what his opinion is and try to see if our opinion would change. sen. gore: i will just go to clint's office and say i have this call, what do you think we are to do about it. pres. johnson: if you agree with me clint, i'm going to get him and wilbur going and i'm sure that the president will agree to anything that we agree to. i know he has great respect for you clint and feeling towards me, and i know he will go a long. you stand for just about everything that i do, so you just get on it. i will