1. Sears Avoids Liquidation as Eddie Lampert Wins Bankruptcy Auction

    Sears Avoids Liquidation as Eddie Lampert Wins Bankruptcy Auction
    • Sears chairman Eddie Lampert has reportedly won a bankruptcy auction to keep the 126-year-old retailer from liquidating.
    • Lampert's bid will keep about 400 stores open and retain 50,000 jobs.
    • "While there is no doubt that a shrunken Sears will be more viable than the larger entity which struggled to turn a profit, we remain extremely pessimistic about the chain's future," said Neil Saunders, CEO of GlobalData Retail...
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    1. While there is no doubt that a shrunken Sears will be more viable than the larger entity which struggled to turn a profit, we remain extremely pessimistic about the chain's future.
    2. I was criticized for not investing enough in the stores.
    3. The only way you see Eddie is through a screen.
    4. My goal is to see Sears Holdings become a great company whose greatness is sustainable for generations to come.
    5. In an environment where new companies like Uber can raise almost unlimited capital, what are the implications for older companies that are held to a very different standard when it comes to profitability and regulation?
    6. While we have been criticized for not investing more in our stores, I have explained in the past that the investments in our transformation go well beyond our stores, but don't ignore our stores.
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