Author Topic: SHLDQ - Sears Holdings Corp  (Read 2715827 times)

Eye4Valu

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Re: SHLDQ - Sears Holdings Corp
« Reply #9020 on: October 17, 2017, 08:16:38 AM »
This is going to sound quite contrary in light of all the speculation regarding Bruce's departure, and the market reaction, but I think it's actually bullish for SHLD. I don't interpret it as FAIRX bailing on the investment. Rather, Bruce provided his input to the board, the input has been acted upon as part of the restructuring, and he sees no reason to continue on the board. The main test will be whether SHLD can return to profitability as a result of the restructuring. Bruce stated that no one will believe SHLD is capable of this until they actually see it. Time will tell.


DamienC

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Re: SHLDQ - Sears Holdings Corp
« Reply #9021 on: October 17, 2017, 08:36:35 AM »
Confirmed that Bruce Berkowitz now holds 2.6 mio shares personally.

Seems evident but I prefer to ask and look like an idiot instead of missing something...

If M. Berkowitz sells some of its personal shares (even after he left the board) he will still need to file his transactions to the SEC, right?

Thanks

Greyhound

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Re: SHLDQ - Sears Holdings Corp
« Reply #9022 on: October 17, 2017, 08:37:51 AM »
Confirmed that Bruce Berkowitz now holds 2.6 mio shares personally.

Seems evident but I prefer to ask and look like an idiot instead of missing something...

If M. Berkowitz sells some of its personal shares (even after he left the board) he will still need to file his transactions to the SEC, right?

Thanks

He will fill them through the 13G but not form 4

DamienC

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Re: SHLDQ - Sears Holdings Corp
« Reply #9023 on: October 17, 2017, 09:01:31 AM »
thank you

BeerBBQ

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Re: SHLDQ - Sears Holdings Corp
« Reply #9024 on: October 17, 2017, 10:26:10 AM »
This is going to sound quite contrary in light of all the speculation regarding Bruce's departure, and the market reaction, but I think it's actually bullish for SHLD. I don't interpret it as FAIRX bailing on the investment. Rather, Bruce provided his input to the board, the input has been acted upon as part of the restructuring, and he sees no reason to continue on the board. The main test will be whether SHLD can return to profitability as a result of the restructuring. Bruce stated that no one will believe SHLD is capable of this until they actually see it. Time will tell.

Seems like he is telegraphing that he has been successful re: his concerns

http://www.fairholmefundsinc.com/Bulletin/SHLDstatement20171017.pdf


"... I believe that I have achieved that objective, and was pleased to have the opportunity to assist in developing the company’s strategic restructuring program, which was announced earlier this year."




 

dyow

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Re: SHLDQ - Sears Holdings Corp
« Reply #9025 on: October 17, 2017, 11:43:20 AM »
Lots has been said about the recent decision from Bruce Berkowitz to leave the Sears board. Looking at the Fairholme latest 13D and comparing it with its last in 2016, it seems that he has now the sole dispositive power of almost 2.6 Mio shares compared to 913k back then. IN a form 4 last week it was said he had a bit more than 700k shares.

https://www.sec.gov/Archives/edgar/data/1056831/000091957417007315/d7683881_13d-a.htm

previous 13d

https://www.sec.gov/Archives/edgar/data/1056831/000091957416013681/d7186510_13d-a.htm

Anyone has any idea of what is happening here? Is my interpretation that he now personaly holds those 2.6 mio shares correct?

Thanks for your input

Yes it looks like he owns 2.6M.
« Last Edit: October 17, 2017, 11:46:19 AM by dyow »

dyow

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Re: SHLDQ - Sears Holdings Corp
« Reply #9026 on: October 17, 2017, 11:54:23 AM »
This is going to sound quite contrary in light of all the speculation regarding Bruce's departure, and the market reaction, but I think it's actually bullish for SHLD. I don't interpret it as FAIRX bailing on the investment. Rather, Bruce provided his input to the board, the input has been acted upon as part of the restructuring, and he sees no reason to continue on the board. The main test will be whether SHLD can return to profitability as a result of the restructuring. Bruce stated that no one will believe SHLD is capable of this until they actually see it. Time will tell.

Seems like he is telegraphing that he has been successful re: his concerns

http://www.fairholmefundsinc.com/Bulletin/SHLDstatement20171017.pdf


"... I believe that I have achieved that objective, and was pleased to have the opportunity to assist in developing the company’s strategic restructuring program, which was announced earlier this year."




 

You guys are correct.

Parsad

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Re: SHLDQ - Sears Holdings Corp
« Reply #9027 on: October 17, 2017, 04:47:31 PM »
This is going to sound quite contrary in light of all the speculation regarding Bruce's departure, and the market reaction, but I think it's actually bullish for SHLD. I don't interpret it as FAIRX bailing on the investment. Rather, Bruce provided his input to the board, the input has been acted upon as part of the restructuring, and he sees no reason to continue on the board. The main test will be whether SHLD can return to profitability as a result of the restructuring. Bruce stated that no one will believe SHLD is capable of this until they actually see it. Time will tell.

Seems like he is telegraphing that he has been successful re: his concerns

http://www.fairholmefundsinc.com/Bulletin/SHLDstatement20171017.pdf


"... I believe that I have achieved that objective, and was pleased to have the opportunity to assist in developing the company’s strategic restructuring program, which was announced earlier this year."




 

You guys are correct.

You guys really think that in this retail environment, and at this place in time, somehow Berkowitz and Lampert have fixed Sears and stemmed its burn rate?  You guys know that Sears Canada just went under, right?  Is there anything that springs to mind on why or how Sears U.S. is going to incur a different fate? 

This thing has been a black hole for well over a decade now.  There is no end in sight where it doesn't continue sucking all of the money in the universe!  Cheers!
No man is a failure who has friends!

DTEJD1997

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Re: SHLDQ - Sears Holdings Corp
« Reply #9028 on: October 17, 2017, 05:27:18 PM »
How SHLD does not go "Super Duper Bankrupt" totally escapes me.

It is only a question of time.

On the radio today there were more announcement of Sears & Kmarts closings.  At this point, when these stores get closed next year, I will be hard pressed to think of more than 2 operating Sears in my area.  The K-Mart near me will be closing in early 2018.  When that one goes, I can't think of another one operating near me.

I get "Shop your way" spam multiple times a day.  They send me advertising for stuff that I have never bought, i.e. little girls clothing.  I have never bought ANYTHING there to indicate that I have children, or buy stuff for children...

Frequently, they also send me crazy coupons like "Spend $10 or more and get $10 off your bill"....which can be combined with existing sale stuff.  If one were inclined to buy stuff there, you might be able to save some krazy $$$$.

I don't see how they can even begin to make money and how they can even BEGIN to turn their retail operations around.

Thus, I predict "super duper bankruptcy" in the near future...

dyow

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Re: SHLDQ - Sears Holdings Corp
« Reply #9029 on: October 18, 2017, 12:57:47 AM »
This is going to sound quite contrary in light of all the speculation regarding Bruce's departure, and the market reaction, but I think it's actually bullish for SHLD. I don't interpret it as FAIRX bailing on the investment. Rather, Bruce provided his input to the board, the input has been acted upon as part of the restructuring, and he sees no reason to continue on the board. The main test will be whether SHLD can return to profitability as a result of the restructuring. Bruce stated that no one will believe SHLD is capable of this until they actually see it. Time will tell.

Seems like he is telegraphing that he has been successful re: his concerns

http://www.fairholmefundsinc.com/Bulletin/SHLDstatement20171017.pdf


"... I believe that I have achieved that objective, and was pleased to have the opportunity to assist in developing the company’s strategic restructuring program, which was announced earlier this year."




 

You guys are correct.

You guys really think that in this retail environment, and at this place in time, somehow Berkowitz and Lampert have fixed Sears and stemmed its burn rate?  You guys know that Sears Canada just went under, right?  Is there anything that springs to mind on why or how Sears U.S. is going to incur a different fate? 

This thing has been a black hole for well over a decade now.  There is no end in sight where it doesn't continue sucking all of the money in the universe!  Cheers!

We will find out this year - I think to really give a thoughtful answer here personally I have to see the results in Q3/Q4.  The problem here is Eddie does not communicate enough, he has not clearly outlined how the restructuring is going to impact the business.  The question is whether they can maintain the same level of profitability (or losses) as sales drop and as the restructuring is implemented. If yes, then the restructuring works.  If no, it doesn't. 

I looked at the some document in the court filings for sears canada - apparently the bankruptcy filing was done without consulting Bruce and Eddie - it caught them off guard - and Sears Canada was stopping them from getting access to documents.  Something happened there is not so clear.  I even heard tin foil hat stuff: that Stranzl was behind this bc he wanted to bid for the assets and get them for cheap (who knows there could be an element of truth here).  Either way whatever happened there was strange.

Eddie and Bruce had no involvement in Sears Canada - and Sears Canada tried to rebrand itself/they updated stores - they used the opposite approach of Eddie (ignore the stores and focus online) and now they are gone.  Besides this Sears Canada had no assets besides real estate (and the Canadian market is less liquid/has less buyers).   Sears Holdings is a very different business with different assets and a different strategy.