Author Topic: JCPenney is selling its three private jets to cut costs after its CEO flees  (Read 235 times)

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Offline Applewood

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JCPenney is selling its three private jets to cut costs after its CEO flees


Less than a month after its famed CEO, Marvin Ellison, fled to Lowe's, JCPenney announced that it would be selling off some of its most luxurious assets.

Unbeknown to some, the retailer has a fleet of private jets, consisting of a 2001 Gulfstream IV-SP, a 2009 Gulfstream 450, and a 2010 Gulfstream 450, Dallas News reported.

In a court filing released on Thursday, the company estimated that the running cost of these planes is about $5 million to $10 million a year. An expense that the company, which is saddled with $4.1 billion of long-term debt, simply can't afford to have.
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www.businessinsider.com/jcpenney-is-selling-its-three-private-jets-to-cut-costs-2018-6


Offline Applewood

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I wonder in which aisle in Penney's can I find those jets?

Offline GtHawk

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I wonder in which aisle in Penney's can I find those jets?
The same aisle where they still sell guns, tools and sporting goods? :pondering:
I don't believe in If anymore, If is for children.


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