diff --git a/README.md b/README.md
index be7eecd0..10ee930b 100644
--- a/README.md
+++ b/README.md
@@ -51,6 +51,7 @@ Think of it as an abstract class that implements the package interface as well a
 
 - name_change (fired when the name of the package has changed)
 - action      (fired to inform the current action being performed by the package)
+- warn        (fired to inform a warning, e.g.: deprecation)
 
 ------------
 
diff --git a/TODO.md b/TODO.md
new file mode 100644
index 00000000..2bf9df91
--- /dev/null
+++ b/TODO.md
@@ -0,0 +1,7 @@
+TODO list:
+
+- config
+  - Fix nodejs 0.10.x issue due to a bug in the `rc` package. I've already submited a [PR](https://github.com/dominictarr/config-chain/pull/11)
+  - Allow that `config.cwd` to be changed by an argument when using the CLI. Two ways of doing this:
+    - Read a --cwd or similar and change the `config.cwd` to it
+    - Allow any arbitrary `config.*` to be changed with --config.* arguments
diff --git a/lib/core/Package.js b/lib/core/Package.js
index 95f957c2..e61d2002 100644
--- a/lib/core/Package.js
+++ b/lib/core/Package.js
@@ -170,45 +170,46 @@ Package.prototype._readJson = function (rc) {
         return Q.fcall(this._json);
     }
 
-    var jsonFile = path.join(this.getTempDir(), rc.json);
+    var jsonFile;
 
-    // 1nd - Read json as string
-    return Q.nfcall(fs.readFile, jsonFile)
-    // 2nd - If successfull, parse and validate json
-    //     - If the file does not exist, make it an empty object
+    function read(file) {
+        jsonFile = file;
+        return Q.nfcall(fs.readFile, path.join(this.getTempDir(), file));
+    }
+
+    // Try package rc.json
+    return read.call(this, rc.json)
+    // Try bower.json
+    .then(null, read.bind(this, 'bower.json'))
+    // Try component.json (deprecated, remove later)
+    .then(null, function () {
+        return read.call(this, 'component.json')
+        .then(function (contents) {
+            this.emit('warn', 'Package "' + this.name + '" is using the deprecated component.json file');
+            return contents;
+        }.bind(this));
+    }.bind(this))
+    // If we got the file contents, validate them
     .then(function (contents) {
-        return Q.fcall(function () {
-            // TODO: change the read & validation to a separate package in the bower organization
-            try {
-                this._json = JSON.parse(contents);
-                return this._json;
-            } catch (e) {
-                throw createError('Unable to parse local "' + this._rc.json + '" file', 'EINVJSON', {
-                    details: 'Unable to parse JSON file "' + jsonFile + '": ' + e.message
-                });
-            }
-        });
+        // TODO: change the validation to a separate module in the bower organization
+        try {
+            this._json = JSON.parse(contents);
+            return this._json;
+        } catch (e) {
+            throw createError('Unable to parse local "' + path.basename(jsonFile) + '" file', 'EINVJSON', {
+                details: 'Unable to parse JSON file "' + jsonFile + '": ' + e.message
+            });
+        }
+    // Otherwise there was an error
     }.bind(this), function (err) {
-        // At this point, there was an error reading the file
-        // Throw if the error code is not ENOENT
-        if (err.code !== 'ENOENT') {
-            throw err;
+        // If no json file was found, return an empty one
+        if (err.code === 'ENOENT') {
+            this._json = {};
+            return {};
         }
 
-        // If the json was already the component.json,
-        // simply assume an empty one
-        if (rc.json === 'component.json') {
-            this._json = {};
-            return this._json;
-        }
-        // Otherwise, if the json is equal to the project's config
-        // try the standard 'component.json'
-        if (rc.json === config.json) {
-            return this._readJson(mout.object.mixIn(rc, { json: 'component.json' }));
-        }
-        // Otherwise, the json was a custom defined one at the package level
-        // try the project's config one
-        return this._readJson(mout.object.mixIn(rc, { json: config.json }));
+        // If we got here, the error code is something else so we throw it
+        throw err;
     }.bind(this));
 };
 
diff --git a/lib/core/config.js b/lib/core/config.js
index b2e76ec3..58ec4ea5 100644
--- a/lib/core/config.js
+++ b/lib/core/config.js
@@ -30,10 +30,10 @@ var proxy = process.env.HTTPS_PROXY
 var config;
 try {
     config = require('rc')('bower', {
-        cwd: process.cwd(), // TODO: read working dir from the process argv, possibly using nopt
+        cwd: process.cwd(),
         roaming: path.join(roaming, folder),
-        json: 'component.json',
-        directory: 'components',
+        json: 'bower.json',
+        directory: 'bower_components',
         proxy: proxy
     });
 } catch (e) {