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I am sure that you would have shopped at J.C. Penney at some time or other, if you are living in America or have been visiting US.
Here is something that you probably did not know about James Cash Penney, Jr. (September 16, 1875 – February 12, 1971).
On April 14, 1902, when he was 27 years old, James Cash Penney began his career in retail management when he opened his first store in Kemmerer, in partnership with Guy Johnson and Thomas Callahan. He named it “The Golden Rule.” In fact, when Mr. Penney opened his first several stores they were called that.
He participated in the creation of two more stores. In 1907, when Johnson and Callahan dissolved their partnership, he purchased full interest in all three locations.
By following rigid economies and selling for cash, Penney made substantial profits and eventually established a chain of such stores.
In 1912, Penney had 34 Golden Rule stores in the Rocky Mountain States. In 1913, all stores were consolidated and the company was incorporated under the new name, J. C. Penney Company, with William Henry McManus as a co-founder.
In two years alone from 1915 to 1917 the company grew from 83 stores to 175.
The above poster must have been printed in 1932 since the Pierce County was born on December 22, 1852. There seems to be a glaring spelling mistake in the name of the company.
The chain expanded rapidly as stores mangers were allowed to open new stores, keeping one quarter of the profits, as soon as they were successful. This simple concept led the store massive expansion and making it the second-biggest retailer in the country by 1970.
Past logos of JCPenney
JCPenney Logo – 1963-1971
JCPenney logo – 1970s-1980s retired in 2011
JCPenney logo that was used in 2011
JCPenney logo – 2012
The Golden Rule or ethic of reciprocity is a maxim, an ethical code, or morality taught by all religions of the world that can essentially be told in the words of Jesus:
“Do to others as you would have them do to you.” (Luke 6:31)
Mr. Penney actually lived by this Golden Rule. He disliked the word “employee.” So, he called those who worked for him, “Associates”. He treated them just as well as he would like to be treated, too – with love, respect, kindness, understanding and encouragement. And it was the main reason why his general store of 1902 grew into a multi-billion dollar business.
- Sermon on the Mount – The Golden Rule (tvaraj2inspirations.wordpress.com)