Or perhaps it's just the relentless optimism of Ron Johnson, J.C. Penney's new CEO. To hear him tell it, it's morning again at the company. "Love the clouds!" exults Johnson, who is inspecting the preparations. In just 36 hours he will host 1,200 reporters, analysts, vendors, and retail celebrities such as Calvin Klein and Martha Stewart as he unveils his radical reinvention of the century-old department store company, which has $17.3 billion in annual revenue. "Wow! This is going to be great," Johnson says, sounding simultaneously giddy and calm. He's like a chipper, empathetic version of his old boss Steve Jobs, as he checks detail after detail. He ponders the speed of the clouds, re-pins the clothes on a mannequin, inquires about the food, vetoes a Q&A for the vendors ("We're here to present a vision"), and even admires the porta-potties. This is his coming-out party, and he wants it to be perfect. Johnson Adjusting a mannequin before J.C. Penney's New York launch event in January 2012.