Businessman Profile: JC Penney

Written by on Sep 18 2007

I recently watched an A&E Biography on James Cash Penney, the founder of JC Penney’s. Started in 1902, in Wyoming, JC Penney’s never accepted credit until 1957. That year the board of directors voted whether to take credit cards. The vote was unanimous, except for Mr. Penney. Mr. Penny is quoted to say that it’s morally wrong to accept credit cards. By accepting credit cards you would oversell the customer and push them into financial debt. — Wow huh?

I have found some really great quotes by JC Penney

Every man must decide for himself whether he shall master his world or be mastered by it.

No company can afford not to move forward. It may be at the top of the heap today but at the bottom of the heap tomorrow, if it doesn’t.

Success cannot come from standstill men. Methods change and men must change with them.

Theory is splendid but until put into practice, it is valueless.

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Allan

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I wrote the article you're reading... I'm one of the co-founders of LessEverything. I love my family more than breathing and I love creating videos about our family adventures.

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