He's just gonna s--- the company dry again and sell all the real estate. It's either a slow death or a quick one. We've already had an agonizingly slow one
Lampert bid likely to be accepted
Covers all bills incurred since Chapter 11, preserves 50,000 jobs AND provides more cash than shut-down. Sorry, haters, you lose again. CNBC has more here:... — read more
Change.org petition against Eddie. Please make viral
https://www.change.org/p/robert-drain-remove-eddie-lampert-from-sears?recruiter=927930171&utm_source=share_petition&utm_medium=copylink&utm_campaign=tap_basic_share
So...
How are those post holiday sales numbers looking? The transformation should be just about complete as Eddie has shed the unprofitable stores and old inventory, renegotiated vendor contracts, streamlined business processes, delighted members, and... — read more
Corporate Email
I heard a rumor from someone at HE saying they got an email today that the company was going private and merging under one brand? This is probably b---s--- but can anyone from HE confirm or deny this email?
cash burn
I heard we're still paying relocation fees to fill open positions in off shore markets. Who approves this during chapter 11?
It's 5 pm
Do you know where your 120 million is?
It’s 4pm Eddie!
Where’s the $120 million at?
home service technicians and STAC
interested to hear what they are experiencing now . worked for them , and have friends there
Two things that will make this the final few months
I can understand that some people believe this will drag out that long, but two things are almost certainly going to make this the final few months. #1 Cash Burn - SHLD is currently burning through tens of millions of dollars in a single week just to... — read more
So about that $120mil
Did Eddie get that money ready yet for today or is he being Mr. Drama and waiting for the last moment to do it?
stick a fork in it
The worst part of waiting for the inevitable is that your DMS are still demanding stupid sh-- to still be done. Listen buddy, this isn't a long term gig. Get off my back and F your processes. Be honest with yourself and open your damm eyes. No one... — read more
People are stealing carts full of merchandise from Cudahy's soon-to-close Kmart, police say
Cudahy will be losing Kmart soon, but not before the store loses money and merchandise to thieves during its going-out-of-business sale. Kmart, 6077 S. Packard Ave., has been in business since 1968 but will be closing early this year for good. Before... — read more
Concur expenses
Has anyone here who had an expense tab in Concur been reimbursed yet? I was let go in November - got a check from the bankruptcy court for my mileage, but they still owe me about $900 in expenses for equipment rentals, etc.
hardship fund
will the hardship fund be distributed only to new layoffs, or also to those already laid off ?
This will stretch out into 2020
Mark my words. Sears has been on its deathbed for how long now? And every time something came up to prolong its suffering. I'm betting the same thing is going to keep happening throughout this year. Just look at what has happened so far! Sad but... — read more
Parts of Sears that will have value in liquidation
Maybe the most of us already know this but found this article that contains a good review of the parts of the company that still has value if Sears goes into liquidation. We all know that liquidation, at this point, is a very probable outcome, if not... — read more
From the Creditors' Viewpoint
They should just say "Your honor, from our perspective, Mr. Lampert hasn't accomplished a single thing except burn through $700M of our money and further prove his incompetence by managing to lose money during the holiday season. There is no evidence... — read more
I think my favorite docket filing this week
Was the one filed by the us trustee asking judge drain to appoint a fee monitor because Sears apparently appoints the most expensive lawyers in the world who apparently aren't doing anything useful
Can some stores survive?
When TRU liquidated, there was talk about somebody buying a small number of their stores and continuing to run them the same as before - with same employees who already worked there - only under a different name. Can something like that happen with... — read more
The reason no one believes in Eddie's Go Forward Plan
Is because no one believes that anyone could believes that anyone could have intentionally run Sears this badly for the past 14 years, or failed at the bankruptcy this hard for the last two months. Eddie doesn't understand capital, period. He's not... — read more
It's really pathetic that Eddie hasn't presented a business plan for Go Forward to the court and creditors
Is he not bothering to pretend, or even worse, could it be that he's actually not pretending?
This is getting annoying.
Everyone is talking about saving all these jobs. What about toying with all the employees making them sit on the edge of their seat wondering whether they will be employed much longer. They could be actively looking and applying for jobs. Most of the... — read more
Why is Judge Robert Drain giving Eddie multiple chances?
Something is not right here, he has giving Eddie extension after extension and multiple datelines. And time after time Eddie comes up short, yet he gets another chance by this judge.
Bankruptcy
I’m not a Sears employee but what upsets me after reading an article is that they approved a specific amount of money for bonuses for upper management. 50,000 employees jobs are on the line due to lack of decision making. Employees trust that upper... — read more
Sears reaches 11th hour deal to stay in business -- for now
https://www.cnn.com/2019/01/08/business/sears-future-bankruptcy-delay/index.html White Plains, NY (CNN Business)Sears reached an 11th-hour deal Tuesday to remain open -- at least for now. Attorneys for Sears said they had reached an acceptable... — read more
New Player
I’ve heard from two relieable sources that Carl Icahn is in the wings, waiting to swoop in and collect what’s left. Just waiting for Eddie, to get the boot, from the court. Keep your eyes and ears on the financal networks.
Dcc in Cleveland
Is the dcc still up and running in Cleveland? Heard they were closing at end of January but cannot get through to anyone there.
Commercial Real Estate Tutorial by Eddie
Commercial Real Estate Tutorial by Eddie: Seritage owns a lot of the Sears real estate (which Sears sold to them at way below market prices, something that creditors are getting ready to sue them for, and who knows, maybe there could be jail for... — read more
Who is Sears?
When they talk about "Sears" as in sears rejected Eddie's bid. Who exactly are they talking about? Is it the board of directors? Lawyers? Who?
So what's the latest date?
When will we know (again) for sure?
What does Eddie get out of this?
Sears is failing, why is he trying so hard to buy it? I don't get it.
It's important to note how far Eddie is from an actual bid
The judge didn't ask for $121M for a bid. He asked for $121M as a deposit to as a show of good faith that he could make good on an actual qualified bid by Wednesday. That's how far apart Eddie is from making a real bid before his efforts turn into a... — read more
Associates still have rosy glasses!
Talked to one who thought that the Corp. might actually do the right thing! Um. Yeah!
Pull the f---ing bandaid off...
Too the damn thing off. Put is out if our misery.
Same Day Payday Loans
It's a little ridiculous. Sometimes we have to just say goodbye and let things die. It seems like they are just messing with people at this point. Sears lives one more day... will Eddie make the 120 million dollar payment. All the HE employees are... — read more