By  on September 6, 2008

On a mid-July day, with Macy's stock sliding on speculation of liquidity issues, Terry Lundgren takes action.

Determined not to let the rumor mill create a maelstrom, Lundgren bats out a letter to his management and the Securities and Exchange Commission asserting that the corporation is financially healthy, cash fl ow remains strong and the store can tap a $2 billion revolving credit facility.

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