The history of using a publicly traded company as his own personal piggy bank over the interests of shareholders is repeating itself, well, not that it has any liquid assets left to speak of. It's going to have to run a massive fire sale on properties no one wants in a post-COVID-19 world just to stay afloat. ESL used to have $9 billion in 13F holdings. It has what, $125M left? Before even adding Transform, which has a discounted cash flow negative worth, and his yacht is worth more than that. Maybe Pete can save Transform and "unlock" some of that Kenmore brand value, by selling some off-brand Dust Busters at Target. Seriously, you could have picked any random six year old and they'd have done a better job at brand management than Pete. Craftsman Ultimate, the Real Craftsman. DieHard Lawn and Garden and Boots and whatever else. That whole Sears Prime Plus or whatever it was nonsense. And let's not forget our queen of Sears Digital! Eddie sure knows how to pick em.
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@vso+14T7Riqt Eddie is the bozo, the biggest one of them all and the reason Sears filed bankruptcy and is not going to come out of it. He did funnel a lot of assets to ESL through transform Co and is still funneling money to Seritage. I agree with the OP, he needs to be investigated. But when your best bud is secretary of the US Treasury I guess you can get away with a lot.
What's so suspicious about the trades? There are two large purchases here, they're not purchases per se, they appear to be options and one for ESL and one personal (all his companies are like that). Seritage may be near bankruptcy, he knows the bankruptcy court well. Real estate is low value now, so perhaps he buys up seritage in bankruptcy (isn't this familiar?). I'm not sure what he actually could do unless he could get money loaned to seritage then open some sort of concept sears in the property until the markets recover. That would be a weird ironic twist.
Meh. If he’s such a crook, why didn’t any of the shareholders file a law suit prior to filing bankruptcy?
Too bad Eddie didn't get Mohsin to stick around. Someone who could get things done instead of the bozos who couldn't do anything but lose billions