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Subject:  Re: Sears Date:  12/29/2011  10:05 PM
Author:  DrtThrwingMonkey Number:  8794 of 25520

I agree with pretty much everything GH says about Sears, and I think the amazing thing is that we would even be entertaining the notion that the thing can be turned around, at this point. I was sort of hoping that Lampert was just planning to close this thing up, after giving it one half-hearted chance to shine and hoping against all hope that it might work. Obviously, it hasn't work, and putting a lot of new money into it is throwing good money after bad.

The only purpose that might be served by trying a few more new things is to postpone the complete liquidation of the whole ball of was for a few more years, hoping that real estate values might be more favourable. But you can't really sell all the good things (Craftsman, Kenmore, Land's End) and then keep the rest of it limping along indefinitely. So I hope Lampert doesn't really believe his own rhetoric about keeping alive the jobs and the legacy of the great Sears name. He's taken the cards he's been dealt, really an awful hand, and played the game pretty well, but he's in the last few rounds now and he's looking at some pretty dicey cards to play those rounds with. He may just have to lay down his cards and get whatever he can, since I think the big win scenario is looking too unlikely to keep playing for.

Regards, DTM
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