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https://www.bloomberg.com/news/articles/2018-10-12/eddie-lampert-rode-the-worst-trade-of-his-life-all-the-way-down?srnd=premiumIMHO the Sears purchase was about its best assets. IIRC at the time ESL bought Sears it was said that the Real Estate was worth more than he paid for the company. They definitely have a very valuable piece of real estate in Brooklyn, which houses a horrendous store. I don't know what his strategies are or were, but maybe the losses are actually working to his tax benefit, while he carved out the good assets.
Quote from: AsherO on December 30, 2016, 08:39:47 AMSomething funny is going on. Lampert is running Sears into the ground, while his hedge fund keeps lending Sears more money. Real estate play?When Lampert first got into Sears (and then KMart) he was hailed as a genius for the Real Estate play.Obviously that was before 2008 came along.I just caught the tail end (literally last sentence) of a Bloomberg radio piece where someone was discussing SHLD, and he said something about Lampert doing something right to extract value. I can't comment on anything as I didn't hear the full piece, but if someone finds it posted online would be interesting to listen to.
Something funny is going on. Lampert is running Sears into the ground, while his hedge fund keeps lending Sears more money. Real estate play?
When Lampert first got into Sears (and then KMart) he was hailed as a genius for the Real Estate play.Obviously that was before 2008 came along.I just caught the tail end (literally last sentence) of a Bloomberg radio piece where someone was discussing SHLD, and he said something about Lampert doing something right to extract value. I can't comment on anything as I didn't hear the full piece, but if someone finds it posted online would be interesting to listen to.The saga continues:https://www.bloomberg.com/news/articles/2019-05-31/lampert-s-backpedaling-at-sears-renews-uproar-over-severance-pay?srnd=premiumhttps://www.bloomberg.com/news/articles/2019-05-31/lampert-s-backpedaling-at-sears-renews-uproar-over-severance-pay?srnd=premium
https://www.bloomberg.com/news/features/2019-06-06/towing-an-iceberg-one-captain-s-plan-to-bring-drinking-water-to-4-million-people
I haven't read the article yet but I know this idea has been around for a long time.