MULTIZ321
TUG Member
- Joined
- Jun 6, 2005
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BLUEWATER BY SPINNAKER HHI
ROYAL HOLIDAY CLUB RHC (POINTS)
Sears' CEO Blames the Media for Company's Decline - But His Obsession With Wall Street Set It Up for Failure
By Hayley Peterson/ Retail/ Business Insider/ businessinsider.com
Sales have been cut in half since 2009, and the company is burning through cash, closing hundreds of stores, and selling off assets in an attempt to stanch the bleeding. Executives are fleeing and store workers face a grim future..."
AP
Richard
By Hayley Peterson/ Retail/ Business Insider/ businessinsider.com
- "Sears Holdings spent $5.8 billion buying back shares from 2005 to 2010, draining the company of resources.
- CEO Eddie Lampert defended the buybacks as the most efficient use of capital, arguing that investment in stores wasn't necessary.
- The company — considered the most vulnerable publicly traded retailer — is now selling off assets to stay afloat.
Sales have been cut in half since 2009, and the company is burning through cash, closing hundreds of stores, and selling off assets in an attempt to stanch the bleeding. Executives are fleeing and store workers face a grim future..."
AP
Richard