"Is that a smiley face?" The question—posed Friday by Theodore Grossman, a lawyer for Macy's Inc.—was directed at J.C. Penney Co. CEO Ron Johnson. The lawyer was pointing at an email Mr. Johnson had sent, bragging about a 2011 deal to bring Martha Stewart products to Penney.
That deal is the subject of a lawsuit that offered a glimpse this past week into the sometimes messy maneuverings of America's corporate rivals. Mr. Johnson was bragging that he had stolen a march on Macy's CEO Terry Lundgren, who had his own exclusive deal to carry Martha Stewart products….