J.C. Penney Co. Inc. is allowing activist investor William Ackman to get a bit closer, giving him the OK to take on a “synthetic long position” that could boost his stake in the retailer to up to 26.1 percent.
Last year, Penney’s adopted a poison pill shareholder plan designed to fend off Ackman, who through his Pershing Square Capital Management acquired beneficial ownership of more than 39 million shares of the retailer, giving him a 16.5 percent stake. The poison pill plan was amended Friday so it would not be triggered if Ackman increased his stake as specified.
Steve Aoki held a presentation, a runway show and outdoor concert for his men's line Dim Mak. Here's a look from his spring 2018 collection, which was titled "Paradise Found." #wwdfashion #wwdmens (📷: George Chinsee)
"It's really hard sometimes. I think I have a reputation for being really tough and aggressive and pushy but I really am a very shy person who wants to be liked, and that's the conflict constantly. There's something that takes hold - I want people to like me, I don't want to be mean - but if I see something that just cries out to be answered, I go for it," says renowned NBC News correspondent Andrea Mitchell. (📷: @axeldupeux)