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Report: Ackman backing down in latest Penney drama
New York -- Activist investor Bill Ackman of Pershing Square Capital Management plans to abandon his push for a quick replacement to J. C. Penney CEO Mike Ullman, according to the New York Post. The report says that it now appears that Penney will proceed with a more deliberately paced search for a replacement for Myron Ullman, who assumed the role of interim CEO in April in the wake of Ron Johnson's firing.
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Belk gets ready for some football
CHARLOTTE, N.C. — The Belk Bowl today announced that they have finalized a deal that will bring an SEC team to the Belk Bowl beginning in 2014. The agreement extends for six years.
"We are thrilled to have the SEC as a partner for the Belk Bowl. We look forward to bringing the best of college football to Charlotte," said Tim Belk, Belk's chairman and CEO.