Earlier today(10/17), a statement was issued by the White House Press Secretary regarding President Trump’s receipt of a State Department report pursuant to an August 23rd Presidential Memorandum (https://www.whitehouse.gov/briefings-statements/statement-press-secretary-38/). In light of this, Postal Regulatory Commission Chairman Taub reiterates his previously issued statement of August 23rd. “The anticompetitive nature of the Universal Postal Union (UPU) has concerned the United States Government since the Reagan Administration. The increasingly competitive and commercial nature of the market has exacerbated these long-standing distortions. Yet, little has changed at the UPU. The UPU continues to promulgate agreements that require posts to undercharge for delivery of inbound mail, to insulate postal shipments from full application of national customs laws, and to promote a different legal regime for postal operators and competing private carriers. President Trump’s concurrence today with the State Department recommendation to adopt self-declared rates for terminal dues as soon as practical, and no later than January 1, 2020, is a tremendous step towards finally addressing these distortions on behalf of our fellow Americans – particularly U.S. merchants, U.S. mailers, and U.S. private-sector carriers who are trying to compete fairly in these global markets.
It’s been 100 years since J. C. Penney Company, Inc. (NYSE:JCP) said howdy to the great state of Texas, and the Company is fixin’ to celebrate its rich legacy in the Lone Star State. The Company will commemorate a century of serving Texas customers on March 31 with a special anniversary ceremony at its location in Wichita Falls – the same city founder James Cash Penney made his first foothold in the state 100 years ago.
“James Cash Penney was a retail trailblazer during the early 20th century, expanding his Company across the country at a rapid clip to provide the best products and highest levels of service to hard-working Americans,” said Joe McFarland, executive vice president of stores. “He operated his business based upon the Golden Rule of treating customers as he would like to be treated, and this guiding principle still resonates with Texans today. We’re proud to return to our roots and celebrate the occasion with our customers and associates in Wichita Falls and Texas.”
During the early 1900s, the J.C. Penney Company was swiftly expanding across America. With 120 store locations serving customers in thriving downtown locations across multiple states, Penney opened an additional 50 store locations in 1917 – five located within Texas. The timing of these store openings was particularly precarious, as the United States was preparing to enter World War I. Penney persisted in his vision of serving customers in additional markets despite the war, opening 20 more locations across the U.S. in 1918.
Four of the five stores that opened in Texas 100 years ago – Abilene, Paris, Temple and Wichita Falls – are still operating within their original communities today at alternate locations. After World War II, the Company followed its customers from downtown shopping districts into sprawling suburbs, and later into regional shopping malls, as society and shopping patterns evolved. Today, Texas is home to 90 JCPenney stores and the Company’s Home Office, which relocated to Plano from New York City in 1988.
To honor the Company’s centennial in Texas, the state’s legislature is composing a concurrent resolution that would recognize the retailer’s historic milestone. The resolution, which requires passage by both the Texas senate and house of representatives, salutes JCPenney for serving customers, creating jobs and contributing to the vitality of the Texas retail industry. The resolution also extends best wishes to the Company and its associates for continued success.