4 ms·
This whole saga with Eddie Lambert is a great example of how the rich fail upward.
by cultus 8y ago
This whole saga with Eddie Lambert is a great example of how the rich fail upward.
- sjg007 8y agoInteresting.. can you elaborate?
- lbotos 8y agoHe's the CEO of a failing company, but in it failing, he still makes a ton of money because his hedge fund is in a position to make gains from the company failing.
- tomc1985 8y agoThat would explain why my local Sears location seems to have suffered a perpetual tornado-strike ... empty shelves and product strewn everywhere. Every time I go in. Nothing interesting is ever in stock. How that place is still open amazes me...
- stephengillie 8y agoThey save a ton of money on labor. It's easy for sales to cover salaries if you have no employees to pay.
- tomc1985 8y agoThat's the weird thing, staffing wasn't too bad. There were people around most of the sales posts. Good luck finding someone in the aisles though.
- Aunche 8y agoOpportunity cost is a thing. Eddie Lambert may be a genius hedge fund manager, but is a terrible CEO of a retail company. Sears/Sears Canada accounted for 53% of his hedge fund's portfolio holdings in 2016 [1], and now they have to pick . The S&P 500 was rallying like crazy at the time, so he definitely could have gotten a lot more if he were a regular hedge fund manager. [1] https://www.investopedia.com/articles/investing/030716/top-5-positions-eddie-lamperts-portfolio-ibm-srg.asp https://www.investopedia.com/articles/investing/030716/top-5...