Word: penney
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When J. C. (for James Cash) Penney started out in 1902 in the small mining town of Kemmerer, Wyo., he had one store, a $2,000 stake in it (most of it borrowed), and high hopes for his new, cash-on-the-barrelhead business. Last week 75-year-old Jim Penney, founder of the 1,612-store J. C. Penney Co. chain (TIME, June 20, 1949), third largest general merchandise retail business in the U.S., made a sentimental journey back to Wyoming for his first store's 49th anniversary...
After reminiscent greetings and handshakes, Jim Penney went right to work at his favorite act: selling. Kemmerer's Mayor Wilford Williams, his mind set on buying one white shirt, wilted under Penney's persuasion: "I'm a no-good of a salesman unless I can sell you two." He did. Penney made his way around the store, sat down to fit a shy young girl with a pair of shoes (no sale), happily spotted a miner wearing Penney overalls...
...flexibility of operation and concentration on sales to independent jobbers and retailers. Though fully half the U.S. shoe industry has set up its own retail outlets, Ed Rand still intends to rely on the independents as well as such chains as Sears, Roebuck and J. C. Penney. But he hopes to make some changes. Where his father carefully avoided any razzle-dazzle, Ed Rand hopes to step up sales with a louder blast on his advertising horn...
...Penney who, having his sleep disturbed on his palatial Florida estate by a well-liquored cacophony from across the lagoon, had the notorious Al Capone tossed in the clink for disorderly conduct, which, in its legalistic twists & turns led ultimately to the conviction of Capone on a federal tax charge...
...Reader Trommer's is one version of an apocryphal story. According to another version, Capone's highjinks disturbed the sleep of J. C. Penney's house guest Herbert Hoover who, in turn, put Capone in jail. The solid facts are: 1) Penney's estate was on an island nearly a mile across the lagoon from Capone's; 2) Hoover was a house guest at the Penney estate in January 1929; 3) Miami police arrested Capone at least three times in April and May 1930 on charges of "being a public nuisance and source of annoyance...