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(CNN) - As the Dow was on pace for its best day of the year, and a report showed American stores had their best holiday season in six years, JCPenney's stock fell below for the first time since it started trading in 1929.That's pretty much everything you need to know about the state of JCPenney (JCP).The 110-year old company hasn't been profitable since 2010 and its prospects are bleak. JCPenney is billion in debt with a junk credit rating, a sinking cash hoard and no sign of a turnaround.With few shoppers coming to stores, JCPenney faces inventory and supply chain struggles and no clear marketing plan or strategy. The company has been forced to offer steep discounts on clothing to clear its massive inventory glut.Last month, JCPenney reported a 1 million third-quarter loss and a 5.4% drop in sales. The stock has fallen 68% this year and nearly 30% in December alone.Jill Soltau, formerly the boss of Jo-Ann Stores, became CEO in October — the company's fourth in six years. Soltau has her work cut out for her.The company's leaders said they are considering closing some of JCPenney's remaining 860 stores. That might help JCPenney in the near-term, but its long-term prospects are questionable. The company has a .1 billion debt payment due in 2023. Wall Street analysts are skeptical about JCPenney's ability to repay that money.A spokeswoman for JCPenney declined to comment.The company never really recovered from the Great Recession. It lost shoppers to cheaper sellers a decade ago and struggled to bring them back as the economy began to rebound.JCPenney plowed through its cash reserve in an expensive makeover after it hired former Apple Store chief Ron Johnson as its CEO in 2011. The plan didn't work, and Johnson was fired after 17 months on the job.It lacked the cash to improve stores, buy trendy merchandise or hire more employees.The company switched its focus several times over the past few years: from older shoppers to younger, trendier ones, back toward middle-aged women.JCPenney has recently changed its merchandising strategy, chasing proven sales trends instead of filling up stores with inventory. It started selling appliances a few years ago, but that strategy hasn't paid off either. 2244
Nintendo has long been synonymous with entertainment. But now the gaming giant is getting into education.The company announced on Tuesday it is partnering with education nonprofit Institute of Play to bring its popular Switch gaming console and DIY Labo kits to 100 classrooms across the United States. The effort aims to help kids build communication and critical thinking skills in science, technology, engineering, art and mathematics (STEAM).The Nintendo Switch, which is both a handheld and home console, sold roughly 10 million units?after its launch. In January 2018, the company introduced Nintendo Labo, series of DIY projects that allows kids to build things such as an RC car, a fishing rod and a piano out of cardboard. These cardboard figures are used with Switch video games and can tech basic programming skills through its Toy-Con Garage feature.Nintendo is bringing the products to 100 schools nationwide for kids ages 8 to 11. A pilot program has already brought kits to 11 schools in the New York City Tri-State area. The program will run through March 2019.Interested schools can also apply to participate. The Institute of Play said it will eventually create lesson plans for any teacher who wants to introduce it in their classroom.Reggie Fils-Aime, Nintendo of America's president and chief operating officer, told CNN Business the move aims to give back to the community and get the next generation of workers excited about new technology."Nintendo thinks in terms of the long-term," he said."The importance of STEM and STEAM for us is core to having great employees in the future."Arana Shapiro, co-executive director of the Institute of Play, said the response so far has been strong."Kids are very excited by it. There's immediate buy-in from them," she said. "Teachers were skeptical at the beginning, but they've gotten excited across the board by the end. The tipping point for them is the Toy-Con Garage part and being able to see kids tweak [the product] and make it their own."Nintendo's move into the classroom comes at a time when "screen time" is under scrutiny. Studies have shown kids and teens who are addicted to their smartphones tend to be less attentive, get less sleep and are more at risk of depression and suicide.Although the Labo kit gets students to build things and use their imagination, a screen is still central to the process. But Fils-Aime says Labo kits provide more than just entertainment to pass the time."It inspires people, particularly kids to make creations and figure out how they work," he said. "The do-it-yourself, tactile nature really is what drives the experience. Because of the hands-on nature we feel it provides a really compelling experience for kids."Michael Pachter, an analyst at Wedbush, said the Switch device is less controversial than other devices such as Xbox or PlayStation because most of the content is E-rated and not sensitive for kids."You don't feel as bad about your kids spending time using it," he said.He believes Labo is an attempt to ride the success of Nintendo's Wii, which blended gaming with interaction in the real world, by launching a new product.Shapiro from the Institute of Play said the value of the kit is in how kids are encouraged to problem solve and think critically in a fun way."We are always on the lookout for new tools and technologies that combine the best of learning with the spirit of play," she said. "With Nintendo Labo, we found an inspiring and innovative approach in both areas." 3550
CHULA VISTA, Calif. (KGTV) - A report of two men going door to door in a Chula Vista neighborhood with a COVID-related offer is raising alarm bells. The knock at the door came just past 6:30 p.m. Friday. Two men, their masks pulled below their mouths, were standing outside Anna's home near Southwestern College."Can I help you?" she is heard asking in her Ring doorbell video.Anna's question gets an odd reply."We're looking for the queen of the castle," said the man at the door.Moments later, the man at the door makes his pitch."We're going door to door doing COVID testing. Have you been tested?" he asks.Anna, an ICU social worker, sensed something shady."I work at a hospital. No, no, no. Goodbye!" she exclaimed in the video.Just 10 minutes prior, the man who was standing back in the video, was at the home of neighbor Alice Segobia with a different offer."He asked about new metering that was coming. Asked if I was the homeowner. I lied to get him out of the house, said I didn't own my home," said Segobia.Segobia also abruptly said goodbye, so she never found out what he was after. But minutes later, the other man's COVID-19 test offer is one James Lee of the Identity Theft Resource Center is familiar with. He points to reports of door-to-door COVID testing scams a month ago, especially in the Midwest. Often, there is a promise of a test that never happens."What they're really after is personal information ... It ends up someone divulging credit or debit card information and nothing ever arrives," said Lee."To prey on people's fears at this time and to take advantage of them is a horrible thing to do," said Anna. Anna did call police, but the men were gone by the time the officers arrived.Anyone who encounter a similar door-to-door offer is asked to call Chula Vista Police at (619) 691-5151. 1829
A Girl Scout leader in Beaverton, Oregon was at the right place at the right time.Diane Bauer said she was at a Fred Meyer store on Wednesday when her teenage daughter Charlotte noticed a mother in distress at few aisles over.Bauer said her daughter was pointing to a baby a mother was holding – and realized the 5-week-old infant was not breathing.That's when the CPR-certified Girl Scout leader dropped everything and ran over to help.Bauer said she took the baby, told the cashier to call 911, and gave the newborn CPR.“The only room that was available was the little check writing stand,” said Bauer. “Those breaths started to go in and I continued until he came to, and in the meantime the mom was calling 911.”Soon, Bauer said she felt the baby's little heartbeat. After a few more breaths, the baby was alert and breathing on his own again.“Had the mom hold his hand, stroked his face and he kind of turned and nuzzled towards her like he was hungry,” said Bauer.Bauer said she and her daughter stayed until paramedics arrived.She credits her daughter for recognizing that the baby had stopped breathing.Bauer said she had just finished the CPR recertification at her job last month. 1204
(AP) — Pacific Gas & Electric confessed Tuesday to killing 84 people in a devastating Northern California wildfire. The dramatic court hearing was also punctuated by a promise from the company's outgoing CEO that nation's largest utility will never again put profits ahead of safety. PG&E CEO Bill Johnson appeared on the company's behalf in Butte County Superior Court to plead guilty to 84 felony counts of involuntary manslaughter. They stem from a November 2018 wildfire ignited by the utility’s crumbling electrical grid. In total, the Camp Fire burned through 153,336 acres and almost completely destroyed the town of Paradise.Johnson solemnly looked at photos those who died while acknowledging the company's responsibility for the fire. 760