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    **************** Eddie Lampert; I hope he gets cancer.

    Sears sues Lampert for asset stripping

    Apr. 19, 2019 3:46 AM ET|About: Sears Holdings Corporation (SHLDQ)|By: Yoel Minkoff, SA News Editor
    Sears Holdings (OTCPK:SHLDQ) is suing longtime former Chairman Eddie Lampert, his hedge fund ESL Investments and others like Treasury Secretary Steven Mnuchin, claiming they illegally siphoned billions of dollars of assets from the retailer before it went bankrupt.

    It follows the billionaire’s $5.2B purchase in February of most Sears assets, including the DieHard and Kenmore brands, after a bankruptcy auction.

    The complaint seeks the repayment of "billions of dollars of value looted from Sears," including while it was in what Lampert would later call a "death spiral" where it sold core assets to meet daily expenses with no real plan for becoming profitable.

  • #2

    I wasn't sure who Eddie Lampert was, but Sears has been on a downward spiral.
    At one time it was a great company.
    I have some really nice USA Craftsman hand tools.

    We had a Sears at our local mall. I didn't go into Sears very often. I was happy to have a mall in the area and my wife and I would hit it here and there. Macy gone, Sears gone, JCP gone. Best Buy gone.

    Our local mall went up in the late 80's now it's a disaster. I heard the new owner just buys up dead malls and runs them to the ground. A few weeks ago the who mall was closed, and they said it was an electrical issue. What really happen it the owner stopped paying the bills and taxes.

    Greed, it's throughout the country.

    For applianced here at the house. I use a local mom and pop place that has been in business for 80 years. The last time my wife and I need clothing, we went online. I hate buying clothing that way. I'm looking for a spring jacket and I'm not sure I know what I want, I do know that I won't find it locally.


    My grandmother worked at the local JCP for decades and off a decent pension and dividends from working there. There stock today is like $1.27.

    My dad may still have some stock there. My dad worked at GE for 30 plus years and their stock isn't worth anything either. 9.35 as of today. It's a good thing my dad has a nice portfolio and is actually a Martin Marietta retiree.







    _____________________________________
    Faith is taking the first step even when you don't see the whole staircase.

    Join Date: Aug 2001
    Location: N. Adams, MA USA
    Posts as of Jan 10th 2013: 82,617

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    • #3
      BFD. Sears lost my favor when they put local tards in the Auto dept. Not incompetent but very sharp on quick profit.
      Originally posted by Unconfigured Static HTML Widget...








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