The guy has nothing but a record of complete failure. $12B lost. No cost control. Crashing revenues. Failed turnarounds and transformations. Terribly run supply chain. Toxic employee morale. Bad real estate investments. Spinoffs that are also running into the ground. Stock buybacks that are running at - 99% return. Bonds with zero recovery. Lawsuits from creditors and former partners. ESL's board of directors must be supremely incompetent and insane to even think about hiring this loser to be Transform's CEO
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Crowley left ESL when ESL moved to Miami
Well, at one. Point he was valued at over $8B and now he's valued at around $1B, mostly because of mo--nic sh-- he's done with Sears, so he's a nasty little something.
Keep in mind Eddie is on every side of this deal, debtor, creditor, owner, buyer, seller, potential defendant and potential plaintiff. It's nuts and I won't say I understand it. But I do think the legal complications are part of the plan, a confusing mess no one will want to pay to litigate because of the complexity. The guy is a nasty little genius.
Isn't he off in Jamaica giving LM some of that 2 in nubbin lovin?
hmmmmm....not to be rude OP, but do you actually know anything about this whole situation. The "loser" you refer to is Edward Scott Lampert. The ESL in ESL stands for Edward Scott Lampert. Edward Scott Lampert is ESL. I would assume he can do whatever he wants. He doesn't need to be "hired" to be in charge of Transform because he's already been in control for well over a decade. He just sold Sears to himself.
No offense, but clearly you are either clueless about what you're talking about or you're making some weird attempt at sarcasm or humor. What's your endgame here?
Eddie wants it to fail... if this hasn't been obvious for years.
It's Eddy's money. it's Eddy's game. If you don't want to play by his rules go away
Who are you talking about?
ESL was founded by Lampert and the fund is also managed ( by Lampert ) Lampert is ESL'S chairman and chief executive officer, and some guy named William Crowley is its president and chief operating officer.
Transform Holdco is a division of ESL, Lambert is already the CEO, he was never hired