https://www.cnbc.com/2020/08/09/amazon-wants-to-use-jc-penney-stores-as-fulfillment-centers—report.html
12 replies (most recent on top)
Bezos donated to the Ayn Rand institute this past year. It's public information. It ain't Rand responsible for Sears' failure, it's Eddie Lampert, 100%, or if you consider all the debt he defaulted on, more like 10000%.
Bezos hates ayn rand
I didn't know they were still in deliberation, as I thought they settled suit months ago. There must have been more than one case. Interesting potential outcome.
Sears Holdings is a company with no employees, whose primary owner and creditor was one Eddie Scot Lambert. The only reason it exists is to provide protection and cover Eddie's non-existent money. It'll be settled for pocket change.
There is some fairly wild speculation that Sears Holdings could win the lawsuit against Lampert, et. al over the fraudulent conveyance and unjust enrichment concerning the Seritage and Lands' End spinoffs. If that were to happen, the judge could easily move those two entities back to Sears Holdings and have Lampert etc. pay the costs. Wild speculation. Of course the other option is for Sears Holdings to be paid the value of those 2 companies and not reintegrate. Then the existing shareholders of SHLDQ would own a shell company with alot of assets vs. existing liabilities. I doubt this crank will happen but there are some starting to see stuff....
The post is referring to Sears Holdings Stock. Ticker Symbol SHLDQ
The Transformco owned Sears? It has no stock; private company.
So why is Sears stock going up? The last two days it has gotten up to mid .30's ???
People often blame Ayn Rand for Eddie's idiocy, but Bezos is also a Rand devotee, and he makes as much in a year as Eddie's managed to lose in 10!
After the experience with the Sears Tires and Kenmore Appliance partnerships, Bezos knows Eddie is a losing proposition. Man can't deliver, now Amazon works with all sorts of local tire dealers that can actually stock tires, and the lone Kenmore washer listed on Amazon isn't even in stock because Eddie can't afford a single one.
Eddie already ended all these leases. These are Simon's properties, which still actually have value, unlike the billion debt encumbered nonsense Eddie runs because no one ever clued him in on the idea that REITs are supposed to make money.
This has nothing to do with Eddie. He does not own the stores they are talking about