Thank you OP (kennethologist) for fixing the title of this article. The nymag title is "JCPenney Permanently Cuts All Prices by 40 Percent" which is certainly not true. Copy editor Bill Walsh writes:
The company meant "permanent" in the sense of regular prices as opposed to sale prices. It’s lowering regular prices and cutting back on sales in a strategy that may or may not work. If the strategy doesn’t work, the company has every right to change course -- and if it does, a bunch of news outlets will be revealed as big, fat liars.
The company meant "permanent" in the sense of regular prices as opposed to sale prices. It’s lowering regular prices and cutting back on sales in a strategy that may or may not work. If the strategy doesn’t work, the company has every right to change course -- and if it does, a bunch of news outlets will be revealed as big, fat liars.
Bill goes on to criticize lazy journalists who just write what they're told: http://theslot.blogspot.com/2012/01/penney-want-cracker.html