courtney reagan sat down for an interview with ron johnson.ourtney joins us live from texas. >> that's right. i sat down with ron johnson earlier today in a prototype of what all jc penney's will look like in the near future. johnson admitted he fumbled on the pricing strategy. starting tomorrow they will try it again. another simplified pricing strategy as they begin the rollout of the concept in 700 stores across the country. >> we have confused people with our pricing. we thought going from 590 sales where the prices change every day to three types of prices would be simpler but people found it confusing. tomorrow we go to the first price is the right price. >> you said this was going to be a tough year and so far it has proven to be. you also said it will not be a throw away year financially. do you still say that? >> it's been tougher than we anticipated. i said that in may. we expected it to be down. we were down a little more than we thought but not enough to change the strategy. we are treating this company as a startup. we are inventi

steve jobs and ron johnson sat down and they said what business are we in? we are not in the business of selling stuff. we are in the business of enriching lives, and what does a store that enriches your life look like? what does it feel like, what does it sound like, and how are the employees trained to enrich your life instead of selling something? >> i had to look it up to check your facts, that was that the first apple store was opened before the ipod. >> yes. >> they weren't selling ipods, weren't selling iphones, weren't selling ipads. they were, obviously, selling mac macs, but back then -- >> that's right, thanks for checking my facts. >> totally honest, i checked wikipedia. wikipedia says you're right. >> isn't that interesting, because steve jobs said in 2001, people don't want to buy a computer, he said, they want to learn what they can do with them, so that innovated around so many areas of the customer experience. one-to-one, the personalized training, is an innovation, something that's very unique in retail where you can actually for $99 spend

were there this morning where we got to see it for the first time and sit down and talk to ceo ron johnsont since the transformation was announced the stock price down more than 30%. johnson said he doesn't look at it every day but investors do and so far the grade isn't that positive. >> i think one of the things we have done is we haven't told our story. in the absence of information there is a lot of misinformation like all the comments about our balance sheet. we have a rock solid balance sheet. the least fear i have is liquidity. we are trying to retrain our customer and do a lot of work. part of my talking to you today is we think we are going to share with investors where we are headed. i think when they see the vision at least the longer term investors will be more inclined to want to participate. >> you spoke a little bit of liquidity last week and you sold some of the noncorps assets. you said the balance sheet is strong. you said you can self fund this transformation. is that still the case? >> absolutely. we can self fund this out of our cash flow. this year we will invest near

seeing those now that my kids are older. >> you're welcome to come along. >> okay, jc penney ceo ron johnsonaking exclusively with our courtney reagan. >> they said you need to be like a butterfly and help do the work. >> mr. johnson invoking the name of his boss at apple as well, steve jobs, and herb greenberg's assessment of his performance. >> plus, is the housing market on the road to recovering or not, diana olick crunching numbers. people have doubts about taking aspirin for pain. but they haven't experienced extra strength bayer advanced aspirin. in fact, in a recent survey, 95% of people who tried it agreed that it relieved their headache fast. visit fastreliefchallenge.com today for a special trial offer. i'm barack oba ma and i approve this message. [romney singing]: oh beautiful, for spacious skies, for amber waves of grain, for purple mountains majesty, above the fruited plain, america, america, god shed his grace on thee, and crowned thy good, with brotherhood... with the spark miles card from capital one, thor's couture gets the most rewards of any small business credit card. y

senator ron johnson tells us whether the gop will negotiate with tax kidnappers.ght back. >>> all right. we're trying to straighten out some technical stuff with senator ron johnson. stay with me. i want to talk about the interview today with mr. timothy geithner who i respect and admire. he has a point of view i don't share. i just want to underscore that. we talked about it earlier in the show. look, i'm a reagan supply sider. that's no surprise to viewers of the show. i want the kind of tax reform, low marginal tax rates. get rid of the exemptions and deductions. geithner said something nice about me on that point when we were interviewing. now, let me stop and put a zipper on it here. i think we are going to go back to senator johnson interview. stay with us. thank you for your patience. are democrats playing fiscal cliff chicken? washington state senator patty murray says if we can't raise tax rates on the upper brackets, democrats are prepared to let all the bush-obama tax cuts expire at the end of the year. most believe that will lead to a recession. if you

now, ron johnson was supposed to be this be all, know all, see all and guess what?t's been one misstep after another. if you look at the natural and information i have, the vendors are second-guessing whether they want to have their store in a store there. nobody wants to go into a losing situation. you'll see earnings come out in early august, they will be a disaster. even on the most optimistic analyst estimates now, the stock is still way overvalued. it should go into the mid to low teens. >> why shouldn't we put more stock and comments from somebody who is so well connected in the fashion world who met with ron i don't knowson? not like he's just writing an article, actually went there, met with ron johnson, talked about the strategy and came away saying it's a game changer. >> first of all i think she's got a relationship with jcpenney number one and number two i'll put more stock in the vendor who saw his sales go down 70%, one of the largest menswear vendors to jcpenney and in the 19% dip in same-store sales last month or last quarter and we're going to see i

ron johnson saying we have simplified processes, removed unnecessary work and reduced lay others to help us make faster decisions and while difficult, in best interests of jcp and stakeholders, not in the best interests of the 350 people. >> i don't think that's a surprise. we knew he would be doing rationalization. >> and we show from credit suisse. back to rimm. the morgan stanley note, if the new blackberry 10 utilizes services on other platforms, rimm is likely to be paid much if anything for those services and therefore, their primary revenue stream essentially gets whacked or goes away. >> . >> that was part of the problem when they started going after the consumer market where they didn't have an echo system build up. >> the phones have different names. >> they went into the consumer market they didn't really have a protectable position. now, part of what they're talking about is going back to the server and trying to build. they don't have nearly the revenue. it would be tough. >> their server idea is dead. if it becomes a hardware company, it's just another hardware company. whe

tweeted, eni'm seeing it on her tweet feed she was at the jc penney he'd quaad quarters and with ron johnsonught it was very interesting. >> so you're suggesting that a well known fashion editor is making positive comments about their fashion strategy. >> she said i'm at jc penney's talking to ron, and this is going to be a game changer. that was tweeted out 49 minutes ago. so let's bring the chart back up. nina garcia, a well known fashion editor, about an hour ago tweeted out she was in fort worst, met with ron johnson, and said their fashion strategy is going to be a "game changer." she said get ready to shop, it's going to be a game changer. this morning, we got headlines jc penney made a deal with joe fresh. >> and she's meeting with ron johnson who is an impressive guy. that's a vote of confidence. it is, and one from someone who is widely respected in the fashion industry saying wow, what she saw from an old line retailer sort of wowed her. there was another article last night, they want to get rid of cashiers. they will go to the in order strom mod-- nordstrom. if you're looking at s

the question now becomes what does ron johnson bring to the table now for jc penney?hat does he bring from his experiences at target and am? >> what you want to believe is he's going to bring this ability to rip up the retail model and start from scratch. he has to be rethinking it himself. does he really know what he will bring, the store in store concept he's already creating. there is indication some suppliers will not be in all stores, only a few hundred stores. i think it's -- look, as anyone would tell you, it's in the early innings, come back three years and talk about it. when you're a public company, you don't get that luxury, especially in this environment and everybody judges you on a quarter to quarter basis. i go to the retail people, i really really think are good. and every one of them don't see it coming. >> it speaks to the fickle cyclical nature of the retail industry anyway. kohl's was so hot for a while. >> my gosh, can you believe what's happened to kohl's. >> target was hot. it comes and goes. >> and nordstrom has had ups and downs but a little m

ceo ron johnson says the department store chain is replacing all the technology infrastructure with aystem that will not require clerk sprea. he hopes to phase out cht counters by 2014. with much of the corn crop was of tlive-out april long drug could lead to higher meat prices prayed >>> check it out, and the widely seen picture shows someone with black pants and black shoes standing on to tub of lettuce. the pinpoint the location. >>> that's not good >>> let's discusthis testing >>> burger king says they have zero tolerance when it comes to food handling violations. >>> once again kind of mystique out there. inland, is not too bad. were starting to see some clearing their. temperatures are mostly in the '50s out the door right now. by this afternoon we your car to warm things up by a couple of degrees. inland is staying mild. it still slightly below average for the time of year. this one is bring some light rain to southern california, it is from the tropical storm fabio. we are watching this high pressure system thus moving toward the bay area. and that is going to bring us a warmi

we'll get the latest from the crime scene and we'll talk to senator diane feinstein and senator ron johnson. and we'll discuss dangerous times in the middle east with prime minister benjamin netanyahu. >> a campaign calls a brief truce. we'll ask our panel if gun control will become a issue in the election. all right now on "fox news sunday". hello again from fox news in washington . we'll talk with our guests in a moment. but first, here is the latest from aurora, colorado. authorities have cleared the suspect's booby trapped apartment and gathering evidence of 30 explosive devices and a computer hard drive. 12 people are dead, 30 are hospitalized. 24 year old james holmes is in solitary confinement and represented by a public defender on monday. we'll bring in our fox news colleague jon scott. >> chris, we have new and eerie photos of the suspect and they show him with his hair dyed red. that is sig -- significant. after the new york city chief was briefed, the suspect and shooter had red dyed hair and he told arresting officers that he was the joker. the dye job photos went up on the day

it may be hurting sales, but ron johnson is sticking by the company's new pricing strategy, mand ji.ng in aspen, colorado, he said the retailers board is totally supportive of the strategy, but that it needs to be effectively explained to consumers. herb greenberg is all over this story, what are your thoughts on this? >> he says we want to treat this now like a start-up company. he acknowledged some of the execution is not what it should have been. i hut ron johnson among my worst ceos of the year if it doesn't get better, but he is giving guidance. if you're running a start up guidance, why would you not give any guidance. on one level he is playing to wall street, on the other he doesn't know what will happen. he told you this is going to be a near year turn around. he said it may get worse before it gets better. >> test telling us what we want to hear. >> yes, except i come back to something. stop playing the game, do away with guidance. stop the earnings, it's totally unpredictable. we'll see how it goes. . they are overhaul. they're bringing in things like levi denim bars and t

ron johnson has been in business for more than 30 years. nice to see you.oughts about president obama's statements on the campaign trail? >> i think it's pretty revealing kind of like joe plumber moments. it really does point to the fact that president obama believes the center of economic activity is in the government rather than the private

earlier this morning, jc penney ron johnson took me through a prototype what he plans for jc penney for the year. the shops start to roll out tomorrow. beyond that, technology is state-of-the-art, employees using ipads, to mobile checkout to customers being able to check themselves out using rifd technology. >> the technology is cool. your traditional jc penney customer i think of as my 340mo my grandmother. they're not as comfortable with an ipad. what if they want to go to a human and check out. i don't see any registers here. can they still go to a human? >> there will be empyees everywhere. instead of being tethered to a checkout, where they can only help you after you decide to buy, they'll be in the shops helping you decide what to buy. they can check you out anywhere without leaving. for those who really want a traditional cash-wrap experience, we do have a bar and we have several of them in the stores, but the bar does so much more than check you out. it's a place you can buy online and pick up in store, a place you can return products, a place you can get gift wrapping. if you

and, senator ron johnson, a strong supporter of gun rights.enators, welcome back to fox news sunday. >> thank you, chris. >> good morning, chris. >> let's start with the big picture, senator feinstein, another case of someone slaughtering people on a college campus and a restaurant and now, a movie theatre. what are your thoughts? >> my thoughts are this: pure and simple: weapons of war don't belong on the streets. this is a powerful women. he had 100-round drum. this is a man who planned it, who went in and his purpose was to kill as many people as he could in a sold help out theatre. i think, you know, we have to sit down and really come to grips with what is sold to the average citizen in america. i have no problem with people being licensed, buying a firearm. but, these are weapons that you are only going to be using to kill people in close comcombat, that is the purpose of that weapon, you can put a hell-fire switch on it, you can fire semi-automatic very rapidly. the drum was huge, he had 100 bullets in it and he went out to quill k kill

may be too early to call ron johnson as a failure but adding him to my list as a candidate for worst2012. i was an early supporter of the concept of recreating retail and thought he made sense to turn it around. he had been a hero at apple and target and best part ron johnson is a merchant but at jcp he has flubbed famously and fabulously on multil fronts. went to a form of every day low pricing. everybody will tell you outside of warehouse clubs and dollar stores, it doesn't work. consumers want to think they're getting a deal at department stores and like it or not, jcp is a department store. second, johnson is rolling out a concept of store within a store concept. anchored with town square. sorry. town square just does not cut it for me. third, and this is what really got me going. right out of the gate, johnson offered earnings guidance. this is a company he says will take three years to turn around but by offering guidance, he's setting himself up for egg on his face and johnson fired the guy as president less than a year ago. this is not apple. this is not target. this is jcpen

at what point do we say that the strategy that ron johnson has has failed?here's no way he can get this back? >> no, i'm not at that point. i said from the beginning, i don't think it will work. but i think -- well, let me just back up. the strategy might have worked if it was implemented over five years. when i heard the strategy i said the numbers don't add up, it's happening too fast. if sales pick up in the third quarter when they get their new merchandise in, i think it can still work. but if we don't get that, and i don't expect it, i'll explain in a moment, then i think in a very short period of time you're at that point where you say we are past the point of no return. >> what does that mean? i mean, when you say cash crunch to me i hear code for bankruptcy. stock going to zero. possible? >> i think in an extreme case that's very possible, yes. >> wow. we have reached out the j.c. penney for comment, they didn't give us one. mike murphy said the stock is oversold. wait a minute. didn't you short this thing before? >> i did, michelle. exactly. we were

ron johnson was brought in to lead penney's turnaround late last year-- so far, his efforts have fallen flat. penney's sales tumbled 20% during the first three months of the year as shoppers were searching for deals. the stock is off more than 40% this year, but shares rose slightly today to $22 and change. and tom, it was an up day here at the big board-- all but one of the dow 30 stocks were in the green. >> very strong buying that we saw across the board. broad market buying here. let's go heed and take a look at the market focus. >> tom: u.s. stocks jumped on the encouraging comments from the head of the european dental bank we reported earlier. a pair of better than expected economic reports in the u.s. helped, too. fewer americans filed for first time unemployment insurance last week, falling by 35,000 to 353,000. meantime, durable goods orders shot up 1.6% in june. but without demand for airplanes, the number would have been negative. add up the headlines, and we saw stock buying right from the opening bell. this was the biggest daily gain for the s&p 500 in almost two weeks. tra

senators ron johnson and dick durbin.funniest humans on the planet. >> you couldn't find the light side of human trafficking? >> i would think this election would be tons of material for you. >> it's the best ever. there have been other elections where there's a lot of candidates, but none have always had a shot at the presidency like this one. every republican -- except for jon huntsman, who was too reasonable, and he's not going to get the vice presidential slot. >> own man who speaks mandarin in the white house, right? >> it's a broadway musical. >> what has been the source of all of your jokes? >> the best ones have been romney is a font of mountain. i think he is electile dysfunctional. i really do. and president obama is always good, because no matter what you think of his policies, you have to admire his ability not to get involved in them. [ laughter ] >> we have to take a break. you guys can talk on the commercial break. >>> still ahead, the karate kid is all grown up. we'll talk to ralph macchio about his new do

this tweet, "i'm at j-c penney, thank you ron johnson for the walk through of j.c.p.'s prototype. get ready to shop! it's going to be a game changer." it came, not from a wall street analyst, but from nina garcia. she is a judge on the tv show "project runaway." the tweet is getting credit for helping j.c.p. shares jump 4.7% today. the company has been trying to turnaround its image and reduce its reliance on promotional pricing. four of the five most actively traded e.t.f.'s were higher. the lone loser was the nasdaq 100 tracking fund, down 0.7%. and that's tonight's "market focus." >> susie: it looks like hollywood is cooking up a blockbuster: m.g.m. holdings, parent of the metro-goldwyn-mayer films, says it filed with the securities and exchange commission, for a potential public stock offering. m.g.m. gave no time frame or other details. but insiders tell bloomberg, the company has hired j.p. morgan and goldman sachs to handle the offering. m.g.m. has been in turnaround mode since filing for bankruptcy two years ago. >> susie: from phony emails that try to trick you into givin

i guarantee you, ron johnson, one of the newest senator who is came who was a businessman, is one of the best senators in the united states senate, he doesn't know what we can't do, he knows what is possible and he fights for it every day. >> we have time for just one more question. which one of the four has the best question? >> he raises his hand first, he beat you. this is a market question economy here. and look at this, this is the generosity that we talked about, with bill bennett, he said give this gentleman the question. please, go ahead. >> my name is marlin doorhout. i don't know much about bonds, but i know when you keep debt in the family, the family as a whole is better off. i'm just wondering if we can't find a way to sell u.s. savings bonds and pay off china with that -- with those bonds and other countries and have the debt in our family where we are paying interest to ourselves. would that not be better? >> it is better and that's one of the reasons that japan, with 220% debt to gdp ratio, twice ours has not experienced significant problems yet. but they will in the

. >> reporter: but wisconsin republican senator ron johnson says the real problem isn't weapons and more legislation is no solution. >> it's really an issue of freedom. and i swore an oath to defend the constitution. and part of that constitution, the second amendment which guarantees the right to bear arms. and these types of laws infringe upon that right. >> reporter: neither the president nor romney are likely to take mayor bloomberg's challenge to engage on gun control. the national rifle association remains one of the nation's most influential lobbies. and there are plenty of gun owners in swing states like ohio and florida, states which are key to winning the presidency. >> jeff: bill, thank you. hollywood studios are officially withholding their final box office numbers until after the weekend in the wake of what happened here in colorado. "the dark knight rises" took in up to 162 million dollars, according to estimatesment that is below studio expectations but still a record for a two-day movie. coming up on the cbs evening news, joe paterno's statue is removed aspen state awaits

we talked to two key senators, dianne feistein, leading the charge for gun control for years and ron johnson, a senator from wisconsin who says more gun control regulations will not solve anything. >> jamie: chris, packed show. thanks for the preview, great day. be sure to catch chris, for time and channel on the fox broadcasting station, check your local listings or you can see it right here, fox news chan, 2:00 p.m. and 6:00 p.m. eastern, eric. >> eric: straight ahead our sunday morning house call. we'll talk with doctors siegel and samadi about the colorado shooting, the medical care the victims are receiving and how you can find out where the closest level-one trauma center is where you live. >> this apartment was designed, i say, based on everything i have seen, to kill whoever entered it. okay? and, who was most likely to enter that location after he planned and executed this horrific crime? it was going to be a police officer. okay? so make no mistake about it, what was going on there. and, if you think we are angry, we sure as hell are angry. down here, folks measure commitment by wh

shooting in america the debate over gun control has again flared up here was republican senator ron johnson. unfortunately i don't think society can keep sick demented individuals from obtaining any type of weapon to kill people i mean somebody who wants to purposely harm another individual is going to find a method of doing it. he's not trying to pick a fight with the gun lobby president obama seemed to reject calls for any new gun controls his press secretary jay carney carney told reporters on sunday the president is focused on doing the things that we can do that protect second amendment rights which he thinks is important but also to make it harder for it of vigils who should not under existing law have weapons to obtain them the key words there are under existing law meaning no new laws regarding gun control democratic congresswoman carolyn maloney a champion for gun control in recent years offered this sobering assessment on the chances of any sensible gun control legislation coming out of this latest tragedy saying this. i always look at it this way no one from the n.r.a. is ever go

. >> cenk: now if ron johnson and john mccain and they say nothing could be done.idn't pass a law that would ban these weapons. these weapons were killed, you politicized, and more people die. >> there's nothing that johnson could to. there is a crazy person in norway--there are going to be crazy people everywhere. they just can't go into a store and buy as many guns as they want they buy ammo without a background check. that's what happens . >> it almost seems in the wake of this gun tragedy they're bragging about how many guns were sold under president obama. i mean, are progressives irrelevant now? i look at that and it seems like they're rubbing it in our face. >> even progressives have not been loud enough on this issue. with all the things that progressive have to complain about, they have a full slate but they have to be vocal about guns. and i feel guilty even saying if anything can come of tragedies then colin goddard is right. it has to happen now. >> cenk: thank you michael. we appreciate it. michael will be back in a second because chick-fil-a has come

>> which part in the ron johnson part? >> global growth, that was a fantastic call.olutely. >> that was a very, very leveraged situation. i don't see anywhere near the leverage here. >> try to think of a retailer that has been able to turn around from top to bottom over the course of one year. these things take a lot of time. >> behind the curtain? >> i took a look at this thing today. i actually did some nibbling. i want to give you the technical take. a i will tell you what will go right. if you look like a monthly chart. anyone could see a massive potential head and shoulders top. and i think it's so obvious that it might be a trap. i think if you can hold this level you can get a fast reversal here. so i think whether you are going to take the long side of this is going be dependent on whether or not you agree with that or you don't. and the way the price action here cut in half tells me that there could be a huge reversal. >> we get a trade update. the trade of the day from a while back. looking for a better place to put your cash? here's one you may not have th

and, we'll talk with senator dianne feinstein, a strong supporter of gun control and senator ron johnsonivil war rages in syria. while the terrorist targets israeli tourists. we'll discuss the dangerous times in the middle east, with israeli prime minister benjamin netanyahu. live only on fox news sunday and the campaigns call a brief truce in the wake of the colorado shootings. we'll ask our sunday panel if gun control will now become an issue in this election. all, right now, on fox news sunday. and hello, again from fox news in washington. we'll talk with our guests in a moment but first, the latest from aurora, colorado. authorities cleared the suspect's booby-trapped apartment. they are gathering evidence which includes 30 explosives devices and a computer hard drive. police say 12 people are dead, while 30 are still hospitalized. 7 of them in critical condition. 24-year-old james holmes is in solitary confinement and will be represented by a public defender when he is arraigned on monday. for more on all of this, including president obama's trip to colorado, today, let's bring in o

jeff sessions, ron johnson, congressman to tell us whether tea party is going to have a role at g.o.p's a little bit of a surprise involving chris christie and we have that and much more. >> sean: i don't even know what it is. >> greta: i told you it's a surprise. it's a surprise we didn't expect. it's surprise. >> sean: we'll be watching. cal thomas and beckel will be sitting right here on the great, great american panel, next. but when joint pain and stiffness from psoriatic arthritis hit, even the smallest things became difficult. i finally understood what serious joint pain is like. i talked to my rheumatologist and he prescribed enbrel. enbrel can help relieve pain, stiffness, and stop joint damage. because enbrel, etanercept, suppresses your immune system, it may lower your ability to fight infections. serious, sometimes fatal events including infections, tuberculosis, lymphoma, other cancers, and nervous system and blood disorders have occurred. before starting enbrel, your doctor should test you for tuberculosis and discuss whether you've been to a region where certain fungal

. >> reporter: ron johnson of wisconsin said washington can't solve the problem but feinstein authoritied ban on assault weapons following the 1993 shooting at the high-rise in san francisco. that ban expired in 2004. >> the colorado shooting was a topic of discussion at bay area churches on this sunday. even the pope spoke out. >> reporter: for people at sunday mass at saint mary's church in walnut creek a deacon offered special prayers. >> one of the beautiful or very strong tool that someone can use is of course prayer. >> reporter: that's what one woman did all weekend. >> just hoping for the families to get past all this without to much trauma which they had already had. >> reporter: the deacon said it's hard to understand the violence but the tragedy a reminder we should leave each day like there is no tomorrow. >> we don't know how or when we are going to die like those people that went to the movie to have fun and enjoy the movie, first a very important commandment is love god with all your heart and soul and all your strength and second is love the neighbor as yourself. >> report