Creditors Say Edward Lampert Reaped Billions but Left Sears Insolvent

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Sears Chairman Edward Lampert and his hedge fund deployed stock buybacks, spinoffs and dividends to rake in billions of dollars while stripping the company of assets and cash, according to an investigation by the retailer’s creditors

 

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Sad decline, but healthy investment opportunity for others

Duh, everyone already knew this.

Thank the tax law and the billionaires who hide their thuggery behind talk of freedom

As soon as I get my dryer repaired, I am through with Sears!

MJ_PR A textbook example of white collar crime.

Remember the days when we all loved Sears? The candy counter, hot nuts? Nice clothes for the whole family? Great appliances and tools? What the heck happened? Mr. Lampert should be very ashamed. Call in the Profit now! Let him correct this.

lampoon should go to jail. cohen needs a butt buddy

Yes !selling real estate and then leasing back

It was suppose to be the next Walmart.

Deborah00796667 Criminal

Disgusting

I used to work in the newspaper business. I know this firsthand. No be news here. Just Greed, alive and well.

Yet the Feds have picked up the burden of pension fund default.

Just another Wall Street criminal protected by corrupt politicians.

Sounds about right.

Perhaps these highly suspect hedge fund financial practices are in need of a forensic audit by the D.O.J, IRS, and the Congressional finance committees.

Liar45 would be so proud!!!!!

Nobody should be surprised. When he was chairman why didn’t he employ the same strategies he’s using now? I smell a rat.

They are dumb enough to sell it back to him! Now he will stick the remaining employees even more

No! I thought they were in it for the stock appreciation!

LMAO—SO WHAT!! After He—BOUGHT—The Company—So Sold the Assets!! His Intention—From Day 1!!

Why is Eddie so bad but lloyd dimon Cramer are saints?

Take Lampert to court, get him serious jail time & make an example out of him otherwise one after another large American retailers, Restaurant chains, Manufacturers will become victims to greed of Private Equity parasites Sears, ToysRUs AOC SenWarren SenSanders KamalaHarris

nnn

That is disgusting!

Sears. A great business raped by a few to line their own pockets. They're criminals. SenWarren ... if this isn't illegal, it should be.

No shit

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Ex-Sears CEO Eddie Lampert orchestrated 'scheme' to 'steal' Sears, creditors allegeSears boss and investor Eddie Lampert orchestrated a 'multi-faceted scheme' to strip the company of assets, major creditors alleged. That is correct If true I hope he does time for it. Of course Eddie Lampert did. He began when he bought Sears. He has been stripping assets for years. It's been in the news for years.
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