Eddie is selling some Land’s End shares. Does he need another Fountainhead or is he trying to pay Warren back?
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@5uye Land's End is also partnering with The Weather Channel and some local tv stations here in southern California. Also seen Land's End on national and local sports broadcasts.
Lands End is on fire...have you been following their sales? Way, way up since the start of the pandemic. They are also partnering with Kohl's. Crazy how far this company has turned around in a year.
It's actually kind f funny, watching the "Next Warren Buffet" flailing around trying to find convoluted ways to somehow extract some kind of value from the rat's nest of mess that he's turned his once-many-billions (now 1 billion if I remember right) into.
He’s selling them because anyone who owns stock in a company has the option to sell their shares should they choose too.
sears literally has the highest accumulated legal fees of any bankruptcy in the history of the world. His lawyers have no idea how to get at the billions of NOLs, so he's liquidating seritage and lands end stock to fund it. he doesn't have a way out of the buffet loans either, he's been in default for years, and has to do some major financial surgery, which is where all this merger talk makes sense. those NOLs, if he manages to get ahold of them, which is less and less clear to his lawyers have to have a profit somewhere to be of value, so he has to merge transform/shld with some seriously profitable entity obviously real estate. no doubt he'll liquidate what's left of his autozone shares to fund that, because it's his last hope of any kind of return.
I heard he is selling them to fund a s-x change.