How can you help bankroll a company you own...someone enlighten me
8 replies (most recent on top)
it's called screwing the government. Eddie sticks all of us with the bills he weasles out of. Not illegal if you're up the judges butt
This is why retirees, pensioners, creditors, vendors, and everyone else hates his guts. He could have covered some of their losses prior to the bankruptcy, instead he pocketed it for himself, let the lawyers run away with the rest, and used the bankruptcy system to avoid paying people when he was perfectly capable of bailing Sears out all along. No wonder no one trusts him.
Eddie has been saving Sears for how long? The stores are not profitable. Otherwise he would have never filed for Chapter 11, stiffed vendors and closed stores. He is incompetent.
The more money he loses the more money he gets in tax breaks.
He also still has real estate under some stores to sell they have to look like profitable stores to get sold. I've seen some of these ads and it basically says the kmart still has 6 years on its lease you will more than make your money back in rent! Plus the lease states that kmart pays all utilities and repairs on the property so you just sit back and collect money! What a deal!!
Also its bait to get more money from other investors. So in the end he will get as much back as hes putting in.
It costs money to close the remaining stores.
When you figure that out, tell me how you turn down loaning yourself $200M, because you don’t think you’ll be able to pay yourself back!
It’s privately owned, he can do whatever he wants.
Owning a company includes loaning (or investing) money when necessary. This may be to cover payroll, purchase inventory or equipment, or fund growth (SHOS)