I have to say that I thought for a long time that this will be over much sooner and that liquidation was the only outcome possible, but with everything that’s playing out, it looks to me that bankruptcy proceedings will not be over soon. I can’t tell what’s behind but it looks like the whole process is being deliberately dragged on until Eddie gets it right and provides a bid that is acceptable. The more this drags on, the more I think that liquidation, at least an immediate one, will not be something we’ll be seeing.
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The Judge has set a hard time of whenever the hearing is scheduled for tomorrow for Sears to have made a decision. Whether or not this deadline is as “hard” as the bid submission deadline remains to be seen. I still think Eddie will magically pull just the right amount of cash out of his @$$ at the last possible moment to win, but that remains to be seen.
Judge Drain seems happier to approve things than Judge Ito.
Eddie gets his way. He's not stupid or foolish. He's a Magnificent b--tard.
Sounds to me like the sticking point is he doesn't want to be sued! Since he took this company over he's pulled some pretty shady sounding deals. The employees are questioning how his company can lend money to the company from his own company. Oh and open a company to take over the stores, charge them high rent until they can't afford it. Then close. Oh yeah but the store was in a great area that he can take over and put into his REIT and make deals with other companies to move in. I just don't understand how any of that was legal. Totally immoral but legal? He doesn't give a c-ap about the employees. He's only using them as pawns. I hope he gets what he has coming to him. And that's not a good thing!
The cash burn is tremendous. How much longer can this last?
This won't end until Fast Eddie lets it end. He's determined to get something out of this, he totaled the company, and is trying to get the salvage title to it!
Doesn't want to be investigated for the crook he is. Not wanting to save jobs but his own butt. So sad.
I really hope not, this joke needs to f---ing end at this point. All this b---s--- is not going to benefit the employees at all.