Aside from forcing me to change my shopping habits, Shithead Ed has also forced Sears Canada's 16,000 retirees to change theirs... Ya, you work hard your whole life, and whoopsie, their goes your pension!
Here's Eddie's 288 foot boat, the Fountainhead.
You don't top up that puppy with change you found under the couch cushions. Sorry pensioners!
But in fairness, Ed wasn't just buying a super-yacht with those sumptuous dividends he was siphoning out of Sears Canada, he also wasted billions on share buybacks of the parent company, and we know where that ended...
In bankruptcy!
That briefly led me to suspect that perhaps Ed wasn't just a money-grubbing Ayn Rand acolyte who only cared about Ed. Maybe he was just stupid?
Then along comes Eddie to buy the company he bankrupted out of bankruptcy for $5.2 billion! At the time Sears filed for bankruptcy they claimed $6.1 billion in assets and $11 billion in liabilities. In other words, by running the company through bankruptcy court, Lampert has emerged with the assets intact and the liabilities gone!
Ayn Rand would be proud, and the rest of us can be confident that, no, Ed Lampert is not a moron.
But he is an exceptionally mendacious greedbag.
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