Bill Ackman Strikes Again (Friday's News & Notes)

Bill Ackman's Pershing Square Capital Management seems to be everywhere these days: the firm has been an investor in Target, Borders and Sears, as well as in General Growth Properties, the country's second largest mall owner. The firm has also made a high-profile attempt to take over Stuyvesant Town-Peter Cooper Village, a sprawling residential complex in the midst of New York City.

Now, Pershing Square has disclosed that it bought a 16.5 percent stake in J.C. Penney Co., making it the department store chain's largest shareholder. Ackman, a hands-on investor, reportedly already has some ideas on how to improve the company's perfomance. To read more stories about retail and retail real estate, follow the links below:

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