SHLD is now up 75% in last 8 weeks of trading!! Neither members nor investors can get enough SHLD!
Keep it up Eddie!
This means the pension fund is now probably fully funded!
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Stock Down to 3.32 today closing at only a Penny higher than the lowest price of the day. When 4-19-18 hits we're going to see the 52 week high shrink fast. That $14+ share price last about a minute last spring.
About a billion dollars of Sears pension funds were 'de-risked' last year by buying annuities from MetLife. That will fully fund 71,000 retirees, with no Sears stock involved anymore.
https://www.fool.com/investing/2017/12/22/is-sears-mortgaging-the-future-of-its-retirees.aspx
However, that still leaves a lot of the pension fund in stocks, apparently still including Sears stock. :-( There were two lawsuits filed about this last year (ERISA violation for continuing to hold such a risky stock), but it may take years for them to work their way through the court system.
https://www.planadviser.com/sears-faces-erisa-suit-over-holding-company-stock-in-retirement-plan/
https://www.plansponsor.com/sears-faces-another-erisa-lawsuit/
https://www.krcomplexlit.com/currentcases/sears-holdings-corporation-401k-company-stock-fund-erisa-litigation/
$3.40 is better than $1.99 but really??? I don't know what type of stocks you invested in but I choose ones that are double digits.
If the pension is allowed to hold Sears shares, then the administrator should be fired. I doubt that is the case. The administrator is required to meet fiduciary standards. Holding individual company shares, especially the ones that employ the people who the pension supports is a huge no-no.
They instead will hold a basket of safe investments-funds, bonds, money market receivables, that generate a smaller return, but meet the standards. So, no, the rise in the stock price does nothing for that. Sears still owes a lot as a result of years of underfunding.
I'd like to know how many truly profitable stores there are.
Because, from the reports and numbers I see....there are a lot of stores running at a loss.
Look see sears employees —- the shorts move in SO FAST!!!
" without the unprofitable stores" Most of the stores are or will become unprofitable as sales are declining each quarter.
Also the issue is not really the stores that may become breakeven after more closing.
The interest on the huge debt and the unfunded pension is what is burning most of the cash each quarter.
Stock is DOWN more than 90% since it was more than 40$ in 2015 and now less than 4$.
Sooner or later, the SHLD bubble will burst.
Tish tosh, SHLD is still 75% below its 52 week high and the pension plan is still grossly underfunded.
What people don't understand is that without the unprofitable stores, Sears Holdings is an entirely different company. This is a different company from 2 years ago- it's going places! First comes the stabilization that a profitable quarter provided, then comes renewal and growth!