We still have no idea what Eddie's real plans for Sears are. This might have given us a reprieve for a few months, but we all know he didn't save a company with astronomical losses each month out of the goodness of his heart.
All we can do now is the same we've been doing for the last several years - wait and see.
The creditors are not on Eddie's side, if they decided not to back him up then Eddie will ha e to come up with his own money.
Eddie is doing it to benefit Eddie
From a Boston Herald article posted on the Web:
"He stands to realize a big tax gain keeping Sears alive, using the company’s years of net operating losses to offset future taxable income if one of his other companies takes over the chain, says David Tawil, president and co-founder of Maglan Capital, which follows distressed companies."
"Tawil and others believe Lampert wants to be in full control of liquidating Sears’ assets, including real estate."
“While there’s no doubt that a shrunken Sears will be more viable than the larger entity, which struggled to turn a profit, we remain extremely pessimistic about the chain’s future,” said Neil Saunders, managing director of GlobalData Retail. “In our view, Sears exits this process with almost as many problems as it had when it entered bankruptcy protection. In essence, its hand has not changed, and the cards it holds are not winning ones.”
425 stores divided by 2 brands, dilapidated buildings, broken infrastructure, vendors that have been burned, customers that have been turned off, tremendous cash burn, ect,ect.
All this equates to is "Liquidate Your Way" for Eddie!
In the mean time looks like I will get my 4 weeks severance as a decide which job offer to take in a month from now. I loved working for Sears and wish everyone good luck and God bless.
I think he did save it because he cared about the members and associates. Five billion isnt that much to him so doing a good deed made sense.
We still have no idea what Eddie's real plans for Sears are.
Haven't you been paying attention the last decade?