Just like the CFO a little while ago. It's only paying $120M a year in interest while losing $30M a quarter in funds from operations. Sounds like a typical Eddie run company, yep. Maybe he can take the reins there too, because why merely stop at losing $100M a year when Eddie can lose a billion? It's all part of his 53Kr3T plan the rest of us can't understand!
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Seeking Alpha took this to be a bad sign and it is. More execs leaving Lambert.
Everywhere is a better position than an Eddie run company. The fact that almost every exec that leaves Sears goes on to run profitable companies, many where Sears used to dominate is proof positive that the failures and losing of billions is all on Eddie. Eddie is broke now, and the Seritage brain trusts knows it, and all it can do is sell properties to pay off the interest until Warren Buffet forecloses on the rest. There is nowhere left for Seritage to go but into the ash heap of value destruction. All Eddie has ever done is pull off what amounts to oversized pump and dump scams, and fooled people into thinking he's smart when he's always been a total mo–n who's never been able to buy a clue.
So what.... executives leave for better positions all of the time. I’m sure they’ll have a replacement hired shortly
Link to article.
https://in.style.yahoo.com/seritage-growth-properties-announces-ceo-211500353.html