The PBGC is looking to secure funds for the SHLD pension program with the sale of the Kenmore brand. Touches on the PBGC involvement in the sale of the Craftsman brand as well.
https://finance.yahoo.com/news/kenmore-sale-sears-pension-liabilities-051002561.html
It's at this point , a quiet voice is heard ......
" Can you get me off the hook Steve, for old times sake? "
@UMXUpq0-vik Which could mean BK could be come sooner than we know right? I mean if say PBGC wants to secure the loan than Eddie backs off and waits till BK (because he wont benefit from this at all I assume). Which means overall its coming faster than we know it the stock is dropping and heading to penny's now.
Guess we'll see who recuses themselves from the proceedings with their old college room mate .
I'm glad the Pension Benefit Guarantee Corp is trying to do its job, but sadly this will probably just cause Eddie to give up on trying to sell Kenmore. He'll opt to buy Kenmore during the bankruptcy proceedings for much less.
This could be big.