Bill Ackman was just on CNBC, talking about his (so far) money losing investment into JC Penney.It was very awkward.
Ackman was putting a positive spin on the fact that he’s taken a bath so far on JC Penney, and going into tons of detail about the turnaround plan at the retailer.
Squaek Box co-host Andrew Ross Sorkin was trying to prevent him from delivering a “commercial” for JC Penney, and Ackman kept insisting he was getting interrupted
There’s a lot of “I’m talking” “No, I’m talking” going on.
Of particular relevance is when Sorkin asked him whether it makes any sense to hype up JC Penney CEO’s background at Apple, given hat at Apple stores, Ron Johnson had amazing Apple products to sell.
Ackman’s response: Ron Johnson was instrumental in creating the whole beautiful Apple ecosystem AND JC Penney has amazing brands that are its “iPad.”
As the interview ended, Ackman tried presenting the clear bull case for JCP, and the CNBC producers had to play the music to usher him off the set!
Check back here later for video.
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