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The 5 Dumbest Things on Wall Street This Week: May 31


3. J.C. Penney (JCP) bid farewell to CEO Ron Johnson in April after 17 months on the job, not to mention a 58% drop in the company's stock price. The once-iconic retailer replaced Ron with his predecessor Mike Ullman. How did Penney's board member and Johnson's original sponsor Bill Ackman characterize the retailer during the Ullman-era prior to Ron's arrival?

A. "chronically mismanaged"

B. "not ready for prime time"

C. "in need of additional cow bell"

D. "putrid from the top down and especially the top"

4. Big Four accounting firm KPMG resigned as auditor for besieged supplement seller Herbalife (HLF) in early April amid an FBI investigation into insider trading allegations involving a former senior partner at the firm. What is his name?

A. Billy Budapest

B. Charlie Copenhagen

C. Marvin Munich

D. Scott London

5. Shares of private prison operator Corrections Corp. of America (CXW) suffered a minor correction in mid-April after the company admitted to falsifying nearly 4,800 hours of staffing records over seven months at which penitentiary?

A. Alderson Federal Prison Camp

B. Butner Federal Correctional Complex

C. Shawshank State Prison

D. Idaho Correctional Center

6. Which public figure did Reuters erroneously report deceased on April 18th?

A. Elvis Presley

B. Jim Morrison

C. George Soros

D. Johnny Thunders

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