After sears recieved the 100 million , Eddie has sold 15 properties, which explains the stealthy closing of some stores, now sears just borrowed another 40 million. Where will this end. It's obvious Eddie is just keeping us afloat until the properties are sold. This has become very scary for those of us with pentions, we will likely get nothing, like sears canada, Eddie will drain everything , we will get nothing , if you can pull yours out, DO IT NOW. While there's still money in the bank. Then get out of this company you will likely not get any severance for your hard work
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@unh I think your right Eddie is just here to milk it as much as possible. Sears hasnt really innovated its just been going down hill for a while. Eddie is here to make as much money as possible and than when their is no more assets nothing else its game over and hes pulling the plug.
Technically sears hasn't had money in the bank for over a decade. At this point I think what Eddie is doing is justified. He's trying to get as much money out of his company as he can before it dies. There's no question about it anymore..sears won't survive. So his only options are to A: just end it and lose whatever figure he'd lose or B: slow down the death to make money off of it then allow it to die.
Either way the company is dead. Might as well make something out of it as well as allowed you guys to cash in a few more paychecks. It's not like there are anymore options anyway. If you disagree with me then I wanna know what you'd do if you were given control of sears in January and what you what have done to save sears now. Personally I don't see any way of fixing it.
Pensions are in a separate account and can't be touched
It's too late, and it's been too late for a long time now.
@oxg What other choices does he have ?
Apart from Costco and Walmart, every other brick and mortar retailer is losing money because of the ecommerce shift to Amazon.
Sears is trying a transformation with Show Your Way but so far it has not succeeded.
Sears has a chance to survive, but only with the best stores and a working transformation.
A little correction, he didnt sell 15 stores he sold stores for 15 million to payback part of the 100 million, then borrowed another 40 million... just thinking what he is doing to this company makes me sick.
Unfortunately, you know exactly when this will end: when Eddie has sold off every store he thinks he can get a decent buck for. That's when Sears Holdings will declare bankruptcy.