Granted I have written on this topic before, but it now looks like Edward S. Lampert has Sears swirling th drain.
The stock is trading is trading below $8 per share.
But apparently the media is too blame and not the incompetency’s of Lambert. Believing he know it all he has driven Kmart to near extinction and is doing the same to Sears.
I don’t see a clear path out of this mess. They have run out of runway. The debt has ballooned, the stock is crashing and customers have fled to better pastures.
It appears that Lampert was wrong Sears needed to be run like a normal retailer.
But also what really has set Sears apart from other suffering retailers is something that’s not as obvious as the rise online shopping and falling foot traffic in shopping malls. It’s the steps that Lampert took when he first acquired the company: putting shareholders like himself in front of everyone else, he drained the company of vital resources. Including a wildly high salary for Lampert himself.
Was there corporate malfeasance?