10 votes

How Sears was gutted by its own CEO

1 comment

  1. patience_limited
    Link
    See also: http://prospect.org/article/it-was-vulture-capitalism-killed-sears and https://www.nytimes.com/2017/08/11/business/the-incredible-shrinking-sears.html?_r=0

    Essentially, through financial engineering, Lampert has been engaging for years in a slow-motion liquidation of Sears, with a sole beneficiary in mind. This type of asset-stripping, especially when the CEO and chairman is the recipient of the assets, should not just be scrutinized. It should be banned.

    See also: http://prospect.org/article/it-was-vulture-capitalism-killed-sears and https://www.nytimes.com/2017/08/11/business/the-incredible-shrinking-sears.html?_r=0

    3 votes