Lambert finds himself on the cover of barrons

Joined: 22 Dec 2007 Posts: 445

Yup...him...shows him in a washing machine...lead front page article.

without getting into the details it largely shows this guy is running it into the ground. the company can be worth something but his leadership doesn't exist.

Their credit line will go from 4.1 billion to 2.4 billion in march..and their interst rate will jump from 1.3 to 6%...ouch!

Joined: 26 Aug 2008 Posts: 269

He should be featured standing in a toilet. It's exactly where he is taking his company, and where all thier cash is going.

Joined: 06 Jul 2003 Posts: 8212 Location: Central CA

Joined: 06 Jul 2003 Posts: 8212 Location: Central CA

Joined: 22 Dec 2007 Posts: 445

Just to ask you do you think at this point that this guy could ever get canned at sears?

Joined: 06 Jul 2003 Posts: 8212 Location: Central CA

No... he's running the whole show... through his hedge fund he owns something like half the stock and the board... handpicked from among his own cronies by the way... just authorized another half billion dollar round of buybacks.

Joined: 22 Dec 2007 Posts: 445

If it actually goes into bankrupcy would he just let it fail or sell things off?

Much of retail is probably going to stare at sears for awhile because the pieces might be worth more than the whole unit at this point.

Joined: 26 Aug 2008 Posts: 269

He can't be fired he holds too many of the cards. He exhaust the company of cash, then will more than likely start selling the brands, Kenmore and Craftsman. Once there is nothing left to liquidate, the last effort will be to try and sell the Sears name. There won't be a actual, viable retailer left, so he will resort to selling the name only.

Joined: 06 Jul 2003 Posts: 8212 Location: Central CA

Yeah, he'll do whatever maks him the most and he'll measure it in nickels and dimes. The history of the manner in which he acquired Kmart and then Sears makes for a fascinating study of what happens in a totally free market under a system of totally unfettered compensation.

It's not so much a matter of deregulation... it's that hedge funds never came under any kind of real regulation in the first place. During my researches I've read articles from several sources that they came into being largely as a way for sharks like Lampert to circumvent the regulations and laws that were in place and that USED to be enforced before the gutting and filleting of the SEC and other regulatory agencies.

And it's not just Eddie Lampert and it's not just hedge funds. Those are just symptoms of the whole corrupted diseased system that some of us are still trying to call, "Capitalism". Capitalism is a great system... as designed and preached through all the years I was coming up. Unfortunately, that's not what we have now.

Today, over a fifth of the months worked annually by an American worker goes directly to support the rich and the famous on Wall Street from whom that same American worker receives diddly squat.

That figure has risen over the past thirty years... since the institution of Reaganomics and the thoroughly discredited "trickle down" theory...at a rate only exceeded in recent years by the massive increases in oil company profits. In fact, health insurance appears to be our new bubble... and what would Wall Street DO without it's bubbles, eh?

So that worker will put in another three months this year, simply to try to maintain a health insurance policy that he can't even read, let alone understand and that may or may not come through for him in a time of dire need, depending on how much more money he has in his pocket.

All this while the insurance companies themselves, already having spiked a 428% profit increase over the same period with most of that going straight into the pockets of company bigwigs and shareholders (Wall Street), continue to wax even fatter and richer.

It's all just part of the way we continue to redirect the wealth upward to that proverbial top 1-5% in that massive Wall Street Game where few get to play but we all get to pay. This stopped being Capitalism when those of who do not... for whatever reason... choose to take part in our own fleecing... were forced to do so by a government firmly under the control of the banksters and parasitic amoeba that run the financial sector.

No longer pure Capitalism, it's devolved into some weird hybrid where capitalistic principles still apply to the poor and working classes but the upper classes... having tasted the fruits of what can only be called welfare for the rich... are stung out and hooked like a whore on crack on some kind of reverse socialism where we take from the many and give to the few.

Maybe you'll understand why it pisses me off so royally when someone professing to be an ordinary working stiff... who are after all, the ones most victimized by this transfer of wealth and the ones being called upon to make actual sacrifices in just about every facet of what is called "quality of life"... rises up at every opportunity to defend it.

How anybody can honestly stand up and try to defend what Wall Street and the major corporations are doing to the majority of the people is simply beyond my comprehension.

	Forum Index -> Politics Schmolitics	All times are GMT
Page 1 of 1