Thread regarding Sears layoffs

Translating Eddie Lampert's Blog Post

Eddie: Finally, we have monetized some of our valuable real estate portfolio through property sales, which enabled us to repay some of the loans that were made to provide liquidity and obtain time for our transformation.

TRANSLATION: I have managed to kick the can down the road for many years but my leg is getting tired.

Eddie: However, should our efforts to complete the refinancing not be fully successful, the Company’s Board will consider all other options to maximize the value of Sears Holdings’ assets.

TRANSLATION: I finally admit what everybody has known for years. Bankruptcy is inevitable. When I say maximize the value of Sear's assets, I mean I get all the real estate in a bankruptcy so I still win.

Eddie: Perhaps most important, these transactions will enable us to increase our emphasis on our most profitable businesses and our Shop Your Way network.

TRANSLATION: If you're an associate working in a brick and mortar store, sorry YOU'RE FIRED.

Eddie: But our leadership team is more aligned and committed to the transformation of our Company than ever before.

TRANSLATION: There is no one left but me in the leadership team. Everyone keeps on quitting so I guess that means I'm more aligned than ever!

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He's a lousy person, but he's certainly not a "nobody". He runs a major company, even if he's running it into the ground, and will be memorialized in future business textbooks for his mistakes.

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Eddie is a "nobody" and always will be a "nobody."

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That made me smile. I read his post the same way.

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AMEN .....ALL TRUE ... YOUR JUST SAYING WHAT WE ALL KNOW.

EXCEPT THE EDDIE LOVERS AND THOSE STORE MANAGERS THAT KNOW NOTHING AND DO NOTHING, THAT ARE PRAYING THEY HAVE A JOB IN A FEW MONTHS.

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