Thread regarding Sears layoffs

Trump doesn't care about Eddie. There is nothing between Trump, Munchkin and Eddie. I think Trump is busy filling his cabinet positions and being briefed on serious matters. He has more pressing issues to deal with then trying to help Eddie out and I bet Eddie doesn't even cross his mind, that is if he even knows him.

Trump will do everything in his power to be successful. He is not going to risk the ire of the American people to help a greedy CEO. Trump is being watched very carefully. On one side, the Democrats are very afraid of what he will do and are waiting to pounce on anything viewed as corrupt. On the other side, the Republicans have voted Trump which was a clear message to elect anyone but another politician as they are also disgusted with the cronyism and corruption and the state of the middle class. They will be watching closely as well. They will not stand for anymore bailouts for the wealthy and corporations. Should that occur, the consequences will be seen at midterm elections followed by a 1 term failure of a president. Trumps's ego will not allow that to happen. He will not fall on that sword for Munchkin or Eddie or anyone.

@2kgb How is PBGC covered? Are you referring to the assets? What assets does Sears still have? No one is buying KCD so keep dreaming. Seritage already has the best assets and it is clear that stripping the company was the intent. Most of the rest of the stores are on leases on old dying mall business models. Not much value there.

@3bff It is really hard for me to say but when an SHLD Board Director is up for Secretary of Treasury that there is no connection? I have no idea about Trump or what he is going to do but you can bet that Eddie has a connection there. Only an blind imbecile can't see that. What has Trump done in his life? Real estate. What does SHLD have? Real estate. What happens if Sears folds and the rest of the malls go with it? I really don't think there is any conspiracy theory here. If it walks like a duck then it is probably a duck.

Trump, Mnuchin, Lampert... all connected and at the highest level possible. If malls close down then what happens to the unemployment rate? There would be a big surge in UI claims correct? Malls were basically a creation of Sears in it's heyday and enabled what has become suburbia. Unfortunately the internet retailers like amazon came along and that is a very key point to consider.

I don't think a bailout would help but the PBGC is not funded and what parts of it are are funded by inventory which Sears does not have much of. Shelves are bare and vendors not shipping much. I am pretty sure we are talking about a duck here.

I am an assistant manager but I don't rely on the job to eat.( especially after being shorted 30 hours the last paycheck even though I am salaried. LOL) I only took the job last June while the wife was pretending to make some money but now she is so OK. I took advantage of everything car related that I could and with Eddie's "member" points system. I am a gold member now.LOL

I have done alright from the inside. I never planned on staying long. All three of my cars are ready to roll.

Trump does not care about Sears going under. The employees go to other employers. Trump likes BK FWIW.

The SEC can commence deleting of the stock for failure to report per the regulations in a timely manner, 35 days

"Eddie's biggest problem is PBGC and given that Trump just made concessions to Carrier so you can bet that some deal will be made with PBGC."

I'm not so sure any deal will be made with SHLD concerning pension obligations. Trump is about keeping jobs in America. I think this latest deal with Carrier was a symbol that Trump will keep companies in the US and will follow through on cutting taxes and regulations to keep US companies in America and jobs for Americans. I would not equate bailing out a company's pension obligations with concessions and tax cuts made to keep a company in the US and allow them to compete fairly. Carrier already had a plant built in Mexico; they were going. Pence, being the gov. of Indiana was able to offer tax cuts and incentives at the state level.

Trump won based upon the anger of the middle class folks who were tired of the crony capitalism and corruption from both DC and Wall street while their wages remained stagnant, interest rates on savings held low and inflation increasing. He will lose his base support if he begins bailing out failing companies that made selfish, greedy and/or incompetent decisions.

Bailouts are bailouts. But allowing US companies to compete by eliminating certain taxes and regulations will keep companies in the US and Americans employed.

Just my .02.

I'm sure Eddie has some sleezey plan worked out for himself. I don't know what it is and I agree with you that there is more going on than any of us know. I would like to hear your insights though.

Zhd- eddies biggest problem is nit the pbgc- they are covered- Sears mounting losses and the inability to do anything about them are his biggest problem- his biggest issue is how he monetises the rest of unburdened real estate width anything to seritage without it looking like asset stripping prior to bankruptcy.

@1bky. What do you mean? The PBGC basically owns the SHLD assets and are top tranche. You misread what I said. Did you not see that Mnuchin stepped down today from the SHLD Board for the Treasury Secretary position? Eddie's biggest problem is PBGC and given that Trump just made concessions to Carrier so you can bet that some deal will be made with PBGC.

Throw it on the national credit card because no one will notice a paltry 2 billion because we can issue 100 year t-bills right?. If you think I have no experience then you are mistaken.

ZHD

zhd- ha ha you can see eddies's next move on the pension can you..? and youthink he will get a bailout..

if you had done a little but of reserch you would know the pension guaranty has control over real estate properties but also the kenmore craftsmen and diehard brands.

any revenue from the sale of those goes to plug the pension gap. you think the pension guaranty will say no and hand them back to sears.. ha ha

its also probably just dawned on you that any proveeds form the sale of craftsmen would have to be handed over to the pension pot- which reminds me hows that $2 billion sale going that was going to be annouced over a month ago...

I wonder if the CFO leaving was pre-planned as an excuse to delay the 3Q report because they know that every quarter is going to get worse and worse. Just my 2 cent conspiracy theory :)

My guess is losses around the $390 million mark.

@1hah The SEC is a joke as is financial reporting. There is no law that mandates anything be done. Didn't you read what I wrote about the 12-8-17? Don't you understand yet? The SEC does not make laws nor can it but it can make rules. What penalties are their going to be for late reporting?

Rules are made for people who don't have money. Eddie has money. There is not going to be a report until after Christmas in my estimation.

http://www.investopedia.com/ask/answers/04/050604.asp

Go to the post I made about 12-8-2017 and note carefully what I said. I watched the Yahoo Finance crowd fall flat on their faces today with their shorts if their expiry was today.

It is just going to be more cash burn and some of us will have jobs as the downsizing occurs. Some won't. Eddie is not done yet.

I thought they had to report by the 5th. 35 days after the end of the quarter according to SEC rules. How do they get the extra time? Also, its going to be bad.

@1gwg please tell me that this was sarcasm... otherwise do yourself and family a favor and do just a little bit of research on your beloved company and when you do come back and be realistic (what you called negative) with us and then we can talk about all of the wonderful top 200 stores that belong to a company called Seritage Growth Properies which has these properties listed for lease and released a statement on their 3rd quarter earnings that they will continue to look for OTHER companies to take over the space that Sears currently leases from them (don't believe me? Call the folks at the Orlando Colonial store or St Petersburg FL... if their phones are still on as they go through liquidation). After you see that "transformation" ask an SGM to let you have a look at your markets P&L all the red will show you your wonderful transformation from employed to unemployement line

I am not negative. I am sarcastic, facetious and have a rapist's wit. (There is a GenX joke in that statement)

I spent some time today looking up some of the so called SEC rules. Eddie does not have to report. Eddies the SEC folks and a deal has been made. Eddie has the cash to make off-balance sheet deals. There be something that delays Dec 8th big announcement. New CFO's for example are one of those things if you read enough and what does SHLD have? A new CFO.

I think I am starting to see how this will play out. You have vendors who are not shipping and there are letters of credit flying around but Eddie does not want bad press before the holidays are over. He has inventory to unload yet.

My question is who is inflating the stock price? Granted the volume is pathetically low. A lot of short interest just a couple of days ago wasn't there? If you bought puts with a expiry of today then you are SOL. That is why the stawk price was up. They can do it again on Dec 8th.

The 800 lb gorilla in the room is the PBGC(pensions). I think Eddie was hoping for a bailout on that one and he might get one. I can see Eddie's next move but I will keep that for later. A couple of things have to happen first.

I was so tempted to short SHLD but something told that there is more going on than we know about.

ZHD

I'll see your ($350M) and raise you another ($50M).

It is very unusual for a company to announce a release date and then delay it. I suspect there was major disagreement internally as to accounting. Their earnings are going to be soooooooool bad! I really do feel sorry the employees. Through no fault of their own, this company is sinking fast.

you people are so negative why cant you understand that Sears has a goal and a plan to transform the company to profit again. the losses are just part of the transformation. just like with the wars and stuff, we can rise for all. Lets make sears flag and cheer. who with me?

Never mind. Found it.

http://ih.advfn.com/p.php?pid=nmona&article=73045791

8th? Link please

Sears just announced that they will report on Dec 8th.