I AM LEGEND
I AM BECOME DEATH, DESTROYER OF WORLDS
GITA OUT OF MY WAY MORTALS
BWAHAHAHAHAHAHAHAHAHAHAHA!!!!!!!!
(Sits on his throne, deep in his underground lair. Strokes his black cat that wears a diamond encrusted, platinum collar. "We will show them, Mr. Piddles. We will show them all")
@WYkhTv5-keb You can't talk about the jooos. What is wrong with you?
Buffet's not in the habit of throwing bad money after bad, especially when it comes to real estate. SRG has only been getting $15/sq ft on its recovered lease space, and at the cost it's taking to get the average Sears back up to marketability, they would need around $21/sq ft. Even the strongest players are battening down the hatches for what looks like is going to be a multi year bear market for commercial real estate in general, much less the disaster that are single boxes like Sears and Kmarts absolutely no one wants. Weak hands like SRG with poor to nonexistent cash flow, especially once Sears rent is out of the picture, is looking at Chapter 11 the second Sears stores liquidate. I don't think people understand how desperate Eddie is for Sears' survival here. Not only will he fall out of the ranks out of billionaires, Seritage will also face bankruptcy and ESL's value will collapse soon thereafter.
i don't think buffet will bail on srg. they will need a lot of money to survive, which buffet may provide by buying additional preferred stock at a really good (for him) interest rate or new secured bonds, also at a profitable rate. In the end, Eddie will be working for Buffet for close to nothing. In fact, Eddie has no place to go, with nothing positive to go for him.
The funny thing is that what killed Eddie in Sears is his basic lack of understanding about the nature of capital. It's all there in EBITDA. He always focused on the earnings part, but never on the interest, taxes, depreciation, and amortization. Assets lose value over time, and you need regular investment just to keep up. If you don't spend early, the amount you need to spend later to run in place just compounds, until you get the massive blackhole of a sh--pile you see today, with Eddie losing the shirt on his back not only in Sears, but with Seritage and ESL as well. He's like the allegory of the Indian wisemen and the elephant. He thought because he understood the nature of the tail, he knew the whole elephant, but in reality he was a blind man who grasped just a small part of the whole.
best copy pasta ever and I have acquired your meme
Fast Eddie is a Chosenite. That's all you need to know. Then everything he does makes sense and falls into place.
@ihl is a liar. Stop making stuff up. https://finance.yahoo.com/news/sears-survival-hangs-thread-bid-015818415.html
The unfortunately thing for Lampert is that the headwinds against even the strongest REITS have then in serious trouble in 2019. Seritage will likely have to declare bankruptcy in 2019 as well and Buffet will bail.
ESL bid accepted, Game, Set, Match!!
@WYkhTv5-epg you're fired, go away peasant
You are stroking something too. ( ! ) hole.