The Founding Father of JC Penney: In 1902, in Kemmerer, Wyo., James Cash Penney opened a dry-goods store, and this was the launch of what's today called the JC Penney supermarket chain. He wrote a column for the magazine, and made endless speeches across the country espousing his ideas of thrift, hard work, right living, and ethical business. rocking camp chair costco; clubs on delaware ave in the 90s; storage wars cast dies Copyright by Archbridge Institute. Analytical cookies are used to understand how visitors interact with the website. Individual store managers shared in one-third of the store profits. Penneys influence stemmed in part from his longevity. Writing home for his $300 in savings, he bought a butcher shop in nearby Longmont. U.S.A. After opening his first store for business in 1902 in Kemmerer, Wyo., J.C. Penney tallied first day's sales of $33.41. That's what helped bring James Cash Penney to town. The banks called in his loans and his collateral including Florida real estate, the value of which was also devastated. Despite Penney opening the companys books and sharing everything, and despite enthusiasm on the part of the other companies owners, the Penney company ultimately decided it could best preserve its unique sharing culture by remaining independent. Managers were expected to be leaders in their communities. J. C. Penney, as he was now more often called than Jim, had no limits on his ambitions. His father, James Cash Penney Sr., was a minister and civic leader who ran unsuccessfully for Congress on a populist ticket in 1894. The Acton Institute produces three weekly podcasts, feature films, and much more audio and video content that explores the ideas that form and sustain and free and virtuous society. Because each style has its own formatting nuances that evolve over time and not all information is available for every reference entry or article, Encyclopedia.com cannot guarantee each citation it generates. Originally called The Golden Rule, the store sought to "treat others as we would like to be treated." As each new store opened, Penney offered a profit-sharing plan to its manager. In 1927, Penney predicted the company might someday reach sales of a billion dollarsa goal which was achieved just twenty-four years later, in 1951. He tithed out of his belief that a mans duty was to support the church with money in addition to living in a conscientious and upright manner.. //
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