Labor & Employment

J.C. Penney filed a registration statement with the Securities and Exchange Commission late Monday that would allow for activist investor Bill Ackman to unload his entire stake in the company via a secondary stock offering.

According to the J.C. Penney’s filing, Ackman and various Pershing Square investment vehicles he controls plan to sell roughly 39 million shares representing 17.7% of the company’s 220.5 million outstanding shares.

Chicago -- Jones Lang LaSalle announced Monday it has acquired Means Knaus Partners, a Houston-based property management company as part of the firm's expansion in third-party property management.

The deal boosts Jones Lang LaSalle's portfolio of office space under management by 16 million sq. ft. of space with properties located primarily in Dallas, Chicago, Denver, Houston, Los Angeles, Orlando, Fla., and Tampa, Fla.

COLUMBUS, Ohio — Big Lots has reappointed Russell Solt to its board of directors after determining that the move is in the best interests of the company and its shareholders. 

Solt will also continue to serve as chairman of the compensation committee, which is composed entirely of independent non-executive directors. Consistent with the terms of the company's other directors, Solt's term will run until the 2014 annual meeting of shareholders.

Gouverneur, N.Y. -- Kinney Drugs Inc. announced that Jim Spencer, formerly COO, has been promoted to president of Kinney Drug stores. In this expanded role, Spencer will be responsible for the total customer experience and strategic growth of our retail drug stores.

In addition to overseeing pharmacy and retail operations, marketing, and merchandising, he will assume oversight responsibilities for logistics.

Walmart displayed a powerful commitment to revitalizing U.S. manufacturing this week when the company convened its first ever domestic sourcing summit.

Not only was the event a first for Walmart, it was also unlike anything the retail industry has ever seen. Roughly 1,500 supplier company representatives, government and economic development officials, Walmart’s top executives and dozens of senior merchants participated in the three hour summit held at the Orange County Convention Center in Orlando.

By Kathy Gersch, VP at Kotter International [email protected]

NEW YORK — Weight Watchers International has named Ann Hollins as the company's chief human resources officer. Hollins will report to president and CEO Jim Chambers and will serve as a member of the Weight Watchers executive committee.

Hollins replaces Meredith Shepherd, who left the company in May after 11 years.

In advance of the Walmart-led U.S. Manufacturing Summit held in Orlando, Walmart U.S. president and CEO Bill Simon wrote an op-ed piece for the Huffington Post titled, "Reviving U.S. Manufacturing Key to Rebuilding the Middle Class." In it, Simon alludes to the vanishing middle class — which found themselves jobless as products once produced in the U.S.