I was on CNBC this week to discuss battered retailer JC Penney (JCP), commenting that the company “is on an express train to oblivion.” Activist investor Bill Ackman is widely blamed for running the company into the ground, and the criticism is justified.  Ackman installed former Apple (AAPL) retail guru Ron Johnson as CEO, and...Read More

In case you had any doubts, it’s official. Diageo (DEO), the world’s largest spirits maker, will not be buying Beam, Inc. (BEAM) for its bourbon portfolio. CEO Ivan Menezes said this week that Diageo would be expanding its existing portfolio of whiskeys and launching new ones, and adding for emphasis that “we don’t need to” buy Beam. I told you...Read More

Just weeks after former CEO Thorsten Heins was given the boot, BlackBerry (BBRY) is kicking its chief operating and marketing officers to the curb as well. Roger Martin — a board member since 2007 — also is leaving BBRY, apparently of his own accord. So, is the housecleaning a positive for the company and battered BlackBerry stock? Not...Read More

It’s that time of year again. Warren Buffett’s Berkshire Hathaway (BRK.A, BRK.B) just released its latest 13F filing, which outlines its buys and sells over the past quarter. While this data is always a little bit dated by the time it is released (Berkshire’s reporting date is Sept. 30) and it does not take into...Read More

I’m not sure if this news is welcome or distressing to Bitcoin’s hardcore libertarian ideologues, but the U.S. Justice Department and the SEC are about to give the virtual currency their blessing as offering a “legitimate” financial service, according to representatives from both agencies. That news is driving Bitcoin up to fresh all-time highs north...Read More