According to CNBC, Lampert’s bid is short
16 replies (most recent on top)
"CNBC doesn't make up stories", now that's funny! I don't know what's going to happen when, and nobody that does truly know is going to call me and ask for my thoughts. What I do know, is that I can visit the circus (this) once a day and get a laugh out of the performance of the clowns. On with my day to move forward instead of reverse.
You guys pitifully trying to run damage control on here better work on Pebble first. It's just embarrassing at this point how even internal social media is full of good byes, farewells, and good luck.
This was just a play by the Board to try to get ESL and Buffett to kick in more dough, otherwise, theirs is still the only credible bid. The games over, ESL & Buffett won.
@WX9ISWI-wsu Oh shut up...
Enough bashing. Enough hate.
Sears Pride cannot be stopped.
https://www.youtube.com/watch?v=1Gs-nINBX-4
This dog and pony show whether the $4.4B offer is good enough for Sears is complete horseshit, since, you know, Eddie is Sears' biggest creditor, shareholder, and landlord. It was never meant to be taken as a serious offer for even a single second. So long as he gets to participate in the auction, that's all he wants, and for whatever reason, he wants to put on appearances like he's fighting for Sears' survival even though we all know that's c-ap.
CNBC report is full of how sad and disappointed Eddie is to see this thing happening. Eddie is a Hedge Fund company destroyer. It's what they do.
During this entire process, Sears has yet to turn a profit. Not only that, but they had to get 2 additional rounds of financing JUST to keep the lights on and pay enough vendors to keep SOMETHING on the shelf. This was all before disappointing Black Friday and overall Christmas sales.
Even with the debt gone, Sears doesn't make enough on a daily basis to keep the lights on, and from the sounds of it doesn't even have enough money to go through liquidation at this point (because yes, that costs money).
What makes you think this is all going to change if Eddie wins? You still have to pay salaries of 50,000 people, and expenses of 500 stores, not to mention all of your vendors are now wary of doing business with you.
IF Eddie wins, it's only delaying the inevitable. It may be for a year, may be for a few years, but all roads lead to the end of Sears/KMart. Eddie had 10 years to really put some money into this and make the stores something people WANTED to go to, but he failed. He had 10 years to create a competitor to Amazon online and he failed. He had 10 years to "transform" Sears, and as far as the average consumer is concerned, he failed. And the one thing he thought would really turn things around is now gone.
As it stands right now, Sears is over. I don't know how many more times people can say it. Now, could the brand live on? SURE! But it'll be long after HE is gone. (See Circuit City).
You're right. Allowing 250,000 employees to go, thousands of stores to close, years and years of falling sales; no profits and no investment in stores. That's Eddie showing how he doesn't want failure!!!!
I'd hate to see what would have happened if he didn't "care"
Could the status change be an update on the bid that was accepted... even if it is currently “short” they would still be some negotiating I would assume
It's from CNBC. No one is making anything up. Cement Head! You can hold your breath and tell yourself it's not true all you want. But CNBC doesn't make up stories!
Still hard to understand how people spread lies when they don't know. Eddie is not going to let this company fail.
Notice of status hearing with Judge Drain on January 8th at 10 am filed by Sears Counsel and entered about an hour ago.
This is when Sears will notify the court of conversion to Chapter 7
Lol..so no true..
https://www.cnbc.com/2019/01/04/eddie-lamperts-bid-for-sears-may-be-short-may-liquidate-without-fix.html
If true, it won't be confirmed until after the stock market closes.