The buyer tries to pay as little as possible, the seller tries to get as much as possible. This is a negotiation with only one serious buyer.
That buyer, whether you like it or not, is Eddie.
Today, tomorrow, January 14th, whatever, Eddie will own Sears and they will keep selling c-ap.
Those concessions ended in 2012. Sears has been in arrears since.
Your politicians made those concessions to lure Sears HQ from Chicago. They granted the extensions when Sears threatened to leave Hoffman Estates. Your politicians are/were either crooked or stupid. Eddies a piece of c-ap. You can rewrite history all you want, it doesn't help your school district get it's money and they should of course.
Oh, I am not a shill paid or otherwise for Eddie or anyone else. Also not a short seller and own no positions in any stock one way or the other. What is wrong with you people who think everyone you disagree with is part of some bizarre conspiracy. Oh wait, Putin is calling me. LOL You meet some really stupid people on the Internet. Shills, short sellers and Russians Oh My!!
That was joke about your american fantasy movie about The Wizard from Oz. HAHAHAHAHAHAHAHA Das Vaginia!
Eddie's tactics may work against the Chicago school district, but the State of Texas goes up against oil guys who form five oil companies and have four of them go bankrupt in a single year. They've got more bankruptcy experience in their pinky fingers than Eddie's counsel does in their whole firm. Can't run from the taxman.
Eddie thinks he's above paying taxes and sends his shills to say kids are greedy b--tards taking advantage of Noble billionnaires like himself for demanding Sears contribute property taxes to the school district while making genius moves like buying back $6 billion of Sears stock at $130 a share.
He wants real estate included free of liens and taxes.
ESL has been informed he must 'cure' liens and pay taxes. At least one state (Texas) has made it clear real estate taxes is required in any transaction; even if no cash change hands. If his bid is accepted it must include coverage for all cure costs.
Eddie has lost control of the process. He's a hyena fighting over there carcass now.
Eddie didn't get his wish with his last bid, in what reality do you think he would get it again this time?
Aside from whether the bid is the highest bid or not, the judge will need to decide if it makes financial sense. Will the buyer be able to keep the business running if debt is forgiven, and will it be profitable? If there is doubt in either, and there isn’t a solid plan to exit Chapter 11, it’s over.
Even if Eddies bid is accepted, it will be conditional on him being able to exit Chapter 11 by whatever date the judge decides, and since the bidder isn’t putting up ANY of his own cash, it becomes a harder sell. And if Eddie buys the company, it can still end up in bankruptcy again if he can’t make payroll (and this one would go straight to Chapter 7)
Eddie's sole purpose has always been to liquidate this company on his terms. Maybe it hasn't worked out so well for him,maybe it has. Sears will cease to exist in any physical form no matter what. "It's over Johnny"
This isn't someone trying to buy a horse. This is a bankruptcy. There is a legal system and the judge will decide the fate.
Are you high?