I don’t see any hope for the workers in Eddie Lampert’s bid for Sears. Is there anyone that naive to think that 50,000 people are going to keep their jobs? Let’s pretend that all of this is not done for EL’s own interest, and if by some miracle Sears survives in some form, it would be a very different company from the one we know now. It wouldn’t be a company with 50, 000 employees. If you ask me the result is the same, Sears is gone, and while this bid may buy the company some time, basically it is just a slower and more painful death.
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Don't worry, there's no hope for his bid in the first place
@mfh half a billion dollar loss quarterly before you count lawyers fees and interest is not a slow death. countries getting bombed don't lose money that fast.
Maybe a slower death but may not be more painful. It would allow the 50k to continue to be employed for a longer period and they can continue to search for new careers. Job market not as strong as everyone says it is.
https://turnaround.org/jcr/2017/11/sears-srg-and-economics-fraudulent-conveyance
since when does legalities affect him?
As a Sears board member, he's legally obligated to place Sears' stakeholder interests' and that means all stakeholders, not just just his own as largest shareholder above his personal pocketbook. Orange is the New Black.