Today’s New York Times DealBook contained a piece on the continuing struggles Sears SHLD (NYSE), (which today means hedge fund investor Eddie Lambert),
has been facing. Lambert, who at one time was viewed by many with the midas touch, has continued to fail in his efforts to make something out of his huge investment in Sears Holdings. According to The Times piece,
The continued slack performance by the firm had Breakingviews calling for Mr. Lampert to fire himself as chairman. Noting the investor, has not been shy about pushing for the ouster of other executives at firms his hedge fund invests in, the column argued Thursday that he should turn some of that acumen toward his own lackluster performance at the helm of Sears.
While it is unlikely Lambert would fire himself, he really needs to find new and particularly strong top management with heavy retail expertise, unlike himself, to run the show. Such a change would mean he would have to cede a good part of his power and agree to put in more funds to get the operation going again, if that is even possible.Stay tuned.For more:Bloggingstocks
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