They are bracing for the fallout from the HE leaks. Action plan will be discussed during conference call. Most layoffs are being delayed until after meeting, possibly this afternoon or early next week. Source: HE. Eddie is pissed!!!!!
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"Landlord hasn't received any money in 2 1/2 years on it."
I don't know the situation with your particular building, but I've heard that with the way the leases were structured at some locations, SHC decided it was worth continuing to pay rent on an empty building until the lease runs out, they wanted to close that location badly enough. (Supposedly some of the Kmart leases had part of the rent based on a percent of the store's income, without an override for if they close the store, so they're just paying a much lower base fee.)
Eddie is doing his own version of a controlled bankruptcy without filing. When he files, there will be nothing left to sell and all the employees will be left hanging. Don't get caught up in this madness, move on while you still can and put SHLD in your rear view mirror. My old Kmart (one of the newer buildings kmart leased) still sits empty and unused, and trashed, the way Kmart management left it. Landlord hasn't received any money in 2 1/2 years on it. It was built brand new, in the 90's, and now looks like a pile or rubble due to lack of maintenance during Kmart's tenure. I opened the store and closed it 25 years later; Eddie don't car how hard you work, he just cares about how fast he can close all the stores and gut the company. That has been his plan from the start, and now he can see the finish line ahead!
@gaq. I guess if we don’t set up a Christmas shop in September that might be indication. 🙄
I still feel in my gut that after our inventory results are all completed that’s what’s going to determine some of the next closures
Our inventory is scheduled for 7/22
Sears/michigan
Insider Roster
Individual or Entity Most Recent Transaction Date Shares Owned as of Transaction Date
JAFFE ERIC D
Officer
Conversion of Exercise of derivative security
May 31, 2017
3,805
MUNJAL LEENA
Officer
Conversion of Exercise of derivative security
May 31, 2017
6,220
*Insider roster data is derived solely from the last 24 months of Form 3 & Form 4 SEC filings.
Top Institutional Holders
Holder Shares Date Reported % Out Value
Fairholme Capital Management 24,084,301 Dec 30, 2017 22.31% 86,703,481
Rbs Partners, L.P. 20,535,979 Dec 30, 2017 19.02% 73,929,522
Fine Capital Partners, L.P. 2,876,895 Dec 30, 2017 2.66% 10,356,821
Vanguard Group, Inc. (The) 2,223,659 Dec 30, 2017 2.06% 8,005,172
State Street Corporation 1,251,351 Dec 30, 2017 1.16% 4,504,863
Blackrock Inc. 1,178,170 Dec 30, 2017 1.09% 4,241,411
Chou Associates Management Inc. 1,131,610 Dec 30, 2017 1.05% 4,073,795
Saba Capital Management, L.P. 792,540 Dec 30, 2017 0.73% 2,853,143
Cyrus Capital Partners, L.p. 772,150 Dec 30, 2017 0.72% 2,779,739
Canada Pension Plan Investment Board 648,300 Dec 30, 2017 0.60% 2,333,879
@U0tWEB8-pqn below is the list of funds that still hold SHLD
Holder Shares Date Reported % Out Value
Fairholme Fund 13,535,991 Nov 29, 2017 12.54% 52,790,366
Fairholme Allocation Fund 1,425,398 Nov 29, 2017 1.32% 5,559,052
Vanguard Total Stock Market Index Fund 645,999 Jun 29, 2017 0.60% 4,987,112
Vanguard Extended Market Index Fund 628,256 Jun 29, 2017 0.58% 4,850,136
Vanguard Small-Cap Index Fund 470,100 Jun 29, 2017 0.44% 3,629,171
Chou America Mutual Funds-Chou Opportunity Fd 426,608 Dec 30, 2017 0.40% 1,535,788
Vanguard Small Cap Value Index Fund 320,379 Jun 29, 2017 0.30% 2,473,325
iShares Russell 2000 ETF 237,258 Jan 30, 2018 0.22% 609,753
Fidelity Extended Market Index Fund 140,214 Jan 30, 2018 0.13% 360,349
Schwab Strategic Tr-Schwab U.S. Small Cap ETF 114,460 Aug 30, 2017 0.11% 986,645
@flu The good news is, non-Sears retirement plans all divested from Sears stock years ago. It doesn't meet fiscal standards for any fund manager besides the risk-taking rich people's hedge funds (like Eddie's) these days.
@hsk SHC gets around the WARN act because they pay severance for the duration of the notice period to enough employees that they don't actually have to give advance notice. (They're only required to give notice of when they plan to stop paying a large enough amount of people at the same time, not in advance of when they tell those people they're out of a job and start their severance pay.)
I heard at Hoffman about a month ago there would be two 'waves'... I was caught up in wave 1 on 6/26... then I heard more on our around the middle of July so this is not fake news. Anyway, if you get a lay off- immediately file for unemployment insurance. When you sign the waiver it says they can terminate severance at any time, so please do this to protect yourself if Sears is unable to make the payments. It sure sounds dire for the company now. In Illinois you can still collect UI even if you get severance. I believe Sears will end up like Toys R Us and Carsons/Bon-ton stores. I am not sure how Sears is going to keep things running with a skeleton crew. Does anyone think we will even see Christmas at Sears in 2018? Doubtful.
Is that true about 500 people? And another 500 next eeek?
That shd surely make the news
Shd be in the warm act page at State if true
Looks like the leak has become a deluge lol, what are they going to do? Fire people? hahahaha
Who is left?
500 people gone NEXT WEEK. Additionally, another 500 in TWO WEEKS.
what's the conf call number
"The Cow and the CICADA".
As the farmer makes his way towards the farmhouse, sunset falls on his pasture. His cow chews its cud. While the song of the cicada fills the air.
"Come out where I can see you," shouts the cow, "your song is so beautiful it deserves recognition".
"Thank you" says the cicada, "but I prefer to remain in the shadow."
"Why?" Asked the cow. "You should take pride in your song. Quick, come out there's not much light left."
"I do not seek a stage" says the cicada.
"But talent deserves recognition." says the cow.
"Ah!" exclaims the cicada. "Define recognition"
"Fame." Says the cow. "Don't you want fame?" asked the cow somewhat curiously, "My favorite time is when I get to go to the state fair, and show off my fine hide and healthy girth"
"But just ask yourself why you seek attention" said the cicada.
"But just come out for a moment to show me what you look like, so we can get to know each other" said the cow.
"I cannot" said the cicada "There are predators around who want to kill me."
"Then why do you sing? Asked the cow.
"I am calling to the others to create a chorus" said the cicada. "And we can all thow our voices so the hunters can never find us."
"Ah, that's too bad" replied the cow, "I have a good life. I am praised for my milk and the cheese I provide. The farmer givers me an easy life, full of sunshine and grass. What more could I ask?"
"Oh my friend" said the cicada. "One day your farmer will introduce you to the knife"
"Utter nonsense" replied the cow. "The worse I go through is an occasional injection, and they are to make me strong. I think. The farmer protects me, and provides me with all my needs"
"I choose not to rely on what a farmer can provide. I prefer freedom." replies the cicada. " I possess nothing except my song, and even that is to be shared. I choose not to depend on the farmer, and I do not trust his workers, his injections, his sprays, or his empty promises."
"Then you miss the chance of bliss" replied the cow.
"Perhaps you are right" said the cicada. "But tonight I go to the river and many of us will sing together. Why don't you join us?"
"I can't" replied the cow. "I am obligated."
"We must choose our obligations" said the cicada, in a soft voice.
With that the cicada vanished, as the last second of the daylight died.
Because the people who work for Sears are children and cannot handle truthful information pertaining to their own lives? Eddie can go do things to himself. What he does not realize is that there are shareholders who are shareholders by no fault of their own via 401k's and other funds - and they are just a part of the general public and they know people who work at all sorts of places. there are also other people who live inside a relentless mission for truth . with love -3301