I know enough has been said about Eddie Lampert and his devastating role in bringing Sears to BK, but what caught my attention in this article is that, while making most moves, he had a mindset of an investor working for his own benefit, instead of thinking like the company chief. A sad reminder that these things shouldn’t mix.
Here you go. All the mistakes of Eddie Lampert:
https://www.nytimes.com/2018/10/16/opinion/sears-bankruptcy-lampert.html
TOTAL B.S. Of COURSE he lied. I sat through 2 years of B.S. mandatory meetings about the glorious "transformation" we were undertaking in which brick and morter played a key role. He LIED at every opportunity with impunity. People invested in SHC as a going concern in retail NOT as a real estate holding company. Don't get it twisted.
In an interview in 2005 or 2006 Eddie told everyone that he was going to run the company to get the best value out of the company for the INVESTORS. So from the beginning he has not lied, he has done what he said he was going to do. Most people get mad because they thought he meant the employees and customers. But what he said was he was going to get the best value for the SHAREHOLDERS or INVESTORS. Which the investors and shareholders are him, his hedge fund and his friends. So dont blame Eddie for saying what he was going to do and doing it. Blame yourself for not listening or reading correctly.
I'll try to find the interview.