Connect with us

Hi, what are you looking for?

Jewish Business News

Business

Sears Is Getting Seared As Lampert Sells His Company to Himself

 

Edward Lampert

Sears Holdings (SHLD) shares rose 31% on Friday, and at first glance, one might think that is an indication that the stock  is in recovery mode. However, the stock flew up on news that CEO Eddie Lampert is going to transform it into a REIT (real estate investment trust) structure. As Daniel Jennings, a Seeking Alpha contributor commented, “Lampert is literally selling the company’s assets to himself and investors.”

Those who held Sears stock benefited from the pop, but it is not going to be long lived. Sears is not attracting new customers or performing well at all. It revenues are falling through the floor, its debt to equity ratio is $8.406% and it is closing stores at a dizzying pace. Jennings says Sears is in a “death spiral, ” and that Eddie Lampert doesn’t really care about running a department store, but on wringing every penny he can out of Sears’ assets.

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Advertisement