Thread regarding Sears layoffs

Unless there's some actual go-forward plan to make things better, I don't see a point.

When GM went bankrupt, they too washed away a lot of debt and obligations, but the government task force made sure they changed a lot of their processes, They dropped brands and changed their product mix. I know people who worked for GM who carried flashlights because the company didn't turn the lights on in some buildings, they were so focused on cost savings. So they made an actual effort and they survived and are doing fairly well today (closing plants and dropping products now is actually very smart and responsive to the market)

What would be done differently at Sears/Kmart? Would there be new product, better stores, upgraded technology? A definition of what the company stands for, what market segments it's pursuing...? Anything? Or just same as it ever was until the next crisis?

Since Sears' total debt is in excess of $7B, you shouldn't count on those shares @grl

Existing stock will be worthless, 0.00 after the auction.

New company? What a joke. Couldn't run the company he had now. 5 billion for what? Not to save jobs. When were raises handed out? So sad of a person he is. Sad.

He didn't seem to put up much more money since it was about 4.6 Billion when he started. Think the liquidators will probably outbid him.

so as much as I was a naysayer thats a decent amount of money to throw back in. Thank you. I own a bunch of shares at 30 cents so this should rocket up nicely

If he wins, It will be a new company, free of pension obligations and old debt. He will now just have the new debt from the new loans from banks and hedge fund. He might be able to borrow more money after he gets ownership. Rinse and repeat.

Can liquidators join their bids together to beat Eddie and then share the profits?

This may also be a ploy into having the liquidators bidding more for the company at the auction and then if topped he mysteriously withdraws his bid but then... ( and now provide your own scenario )

Wikipedia has him worth $1.6 billion as of January 2019 and his company ESL is worth just over $9 billion as 2004. So he is pretty much asking banks and other creditors for their money. Bad investment if anyone goes with this guy.

He doesn't personally, but his hedge fund plus the banks he s---ered into loaning more money into this bottomless pit do.

Except he doesn't have 5 billion dollars. This probably will be rejected too.

Putting a link that long in the title doesn't work, it needed to be in the body of the original post to not get cut off.

https://www.reuters.com/article/us-sears-bankruptcy-lampert-exclusive/exclusive-sears-chairman-lampert-submits-new-roughly-5-billion-bid-for-retailer-sources-idUSKCN1P32R7

We will see on the 14th If the liquidators can beat his bid. At least this whole thing is coming to an end soon. Plus with all this money he suddenly has he could have used to managed the company better by improving each store. I still don't see how 425 sears can compete with other retailers.

they will reject this, not solid enough smh, more theatrics

Its too bad someone didn't finish "the job" back around the turn of the century

Its no longer about saving SHLD or the jobs

He just made it personal versus business, as in I AM NOT GOING TO LOSE THIS BATTLE 😈 😈 😈 😈