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James Cash Penney
James Cash "J.C." Penney, Jr. (September 16, 1875 – February 12, 1971) was an American businessman and entrepreneur who founded the J. C. Penney stores in 1902.
==J.C. Penney Stores==
In 1898, Penney began working for a small chain of stores in the western United States called the Golden Rule stores. In 1902, owners Guy Johnson and Thomas Callahan, impressed by his work ethic and salesmanship, offered him one-third partnership in a new store he would open. Penney invested $2,000 and moved to Kemmerer, Wyoming, to open a store there. He participated in opening two more stores, and when Callahan and Johnson dissolved their partnership in 1907 he purchased full interest in all three stores.
By 1912, there were 34 stores in the Rocky Mountain States. In 1913, he moved the company to the Kearns Building in downtown Salt Lake City, Utah. The company was incorporated under the new name, J. C. Penney Company. In 1916, he began to expand the chain east of the Mississippi and during the 1920s, the Penney stores expanded nationwide, with 120 stores in 1920 (mostly still in the west) By 1924, Penneys' reported income of more than $1 million annually.〔(【引用サイトリンク】title=J.C. Penney - Family and Philanthropies )〕 The number of stores reached 1,400 by 1929. The large income allowed Penney to be heavily involved in many philanthropic causes during the 1920s. By 1921 Penney had a home (Belle Isle) on Biscayne Bay in Miami. Penney and partner Ralph W. Gwinn had invested heavily in Florida real estate including in Clay County. Some of this land became Penney Farms. This was also the start of Foremost Dairy Products Inc. Penney later recruited Paul E. Reinhold to run the dairy. Most of this work was halted when the stock market crash of 1929 and the Great Depression left Penney in financial ruin.
After the 1929 stock crash, Penney lost virtually all his personal wealth, and borrowed against his life insurance policies to help the company meet its payroll. The financial setbacks took a toll on his health. Penney checked himself into the Battle Creek Sanitarium, where he was treated. After hearing the hymn ("God Will Take Care of You" ) (written by Civilla Durfee Martin) being sung at a service in the hospital’s chapel, Penney became a born-again Christian.〔(【引用サイトリンク】title=The Hymn That Saved J.C. Penney )〕 Even after relinquishing daily operating management of the company, Penney continued his active involvement in managing the company and its stores. In 1940, during a visit to a store in Des Moines, Iowa, he trained a young Sam Walton on how to wrap packages with a minimal amount of paper and ribbon. 〔(【引用サイトリンク】title=An American original,Sam Walton embodies the entrepreneurial spiritand epitomizes theAmerican Dream )〕 He remained as chairman of the board until 1946, and after that as honorary chairman until his death in 1971. Until the end of his life he continued to go to his offices.
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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