https://www.fool.com/investing/2022/07/08/why-seritage-growth-properties-stock-skyrocketed-t
He's said he will vote his 29% shares to sell everything Seritage owns and dissolve the company.
Will he take the proceeds and help guarantee a good retirement and money for the kids or will he pour it into TransformCo because that would be the same as flushing it all down the toilet.
This comes after he just stepped away from seritage a few months ago. So this means he created a hedgefund to hide assets from a company he intended to bankrupt, while lining his pockets with millions. Now his cronies will sell him all the hidden from bankruptcy assets for a fraction of their value! While all the investors, vendors, and employees of Sears and Kmart are left holding the bag. He is smart!!!!!
@OP+1hEbftyA:
This has absolutely nothing to do with the Sears and Kmart stores. Time to get your head out of the sand.
Eddie is exactly what gives capitalism a bad name.
In reading the proxy info, he retired as chairman of Seritage so that he is then allowed to purchase some or all of the assets from Seritage. Another Sears Holdings. Grind it into the ground then buy it at a cheap price.
Question: "Will he take the proceeds and help guarantee a good retirement and money for the kids or will he pour it into TransformCo because that would be the same as flushing it all down the toilet."?
Answer: He will take what he can get, cut his already significant losses, and end the charade.
I hope he saves the Kmart and the Sears stores.