-- He thinks J.C. Penney is heading in the right direction.
-- Average turnaround takes around four years and J.C. Penney is only in its second year and will need some time to fully show the results.
-- Thinks Ron Johnson is the best guy to run J.C. Penney
-- Thinks store looks great now and this is the year when he will see the sales heading in the right direction.
-- Pershing is in this for the long run and has the patience and commitment to stick to the turnaround engineered by Johnson.
Credit and source: CNNFN, www.cnnfn.com
Here is the video: