https://www.wardsauto.com/dealers/troubled-investor-reduces-his-autonation-holdings
Needless to say the writer is not a fan of Eddie's decision making
4 replies (most recent on top)
@ia4Y Could I be wrong in thinking that Eddie made enough $$$$ in the past (decade) to say: "The heck with it..." and just let all of it wind down, so he can enjoy life, He's never gonna be poor. Maybe that's his strategy, get out while the gettin's good? At some point, he may not want the stress anymore.He may not care about the press and his peers. That could happen, you know....
Eddie can't afford the fuel to run the yacht anymore.
Eddie has less than $200M in equity positions in ESL total, where he once had $9B in equity investments in his hedge funds. Even after borrowing more than $350M and getting $200M from the DieHard sale and raising all the bond money Eddie can't make ends meet because he and his lackeys are imcompetent boobs, and Seritage cant' sell anything at a profit in this retail environment, and uncle Warren Buffet is calling in his chips. He gambled all his money on Sears and his retail and real estate genius. A bad bet for sure.
No one is a fan of Eddie's crazy business decisions.