SHLDQ - Sears Holdings Corp

[Picasso]

Speaking of Berkowitz not helping the bond exchange situation, another 1.5 million shares sold in two days. Clown show...

https://www.sec.gov/Archives/edgar/data/1214344/000091957418000689/xslF345X03/p7807547.xml

[sampr01]

Speaking of Berkowitz not helping the bond exchange situation, another 1.5 million shares sold in two days. Clown show...

https://www.sec.gov/Archives/edgar/data/1214344/000091957418000689/xslF345X03/p7807547.xml

Thanks for the color. He is also selling SRG and may be don’t want to associate with EL any more.

[frommi]

Speaking of Berkowitz not helping the bond exchange situation, another 1.5 million shares sold in two days. Clown show...

https://www.sec.gov/Archives/edgar/data/1214344/000091957418000689/xslF345X03/p7807547.xml

Thanks for the color. He is also selling SRG and may be don’t want to associate with EL any more.

To me this just looks like his fund is overrun by redemptions. Probably exactly at the wrong time, and i think that this forced selling has created or is creating opportunities. Maybe not in SHLD (too hard for me) but at least in SRG.

[sampr01]

Speaking of Berkowitz not helping the bond exchange situation, another 1.5 million shares sold in two days. Clown show...

https://www.sec.gov/Archives/edgar/data/1214344/000091957418000689/xslF345X03/p7807547.xml

Thanks for the color. He is also selling SRG and may be don’t want to associate with EL any more.

To me this just looks like his fund is overrun by redemptions. Probably exactly at the wrong time, and i think that this forced selling has created or is creating opportunities. Maybe not in SHLD (too hard for me) but at least in SRG.

He is buying JOE, selling SHLD and SRG... may be nothing to do with redemptions

[doughishere]

Maybe Eddie should have practiced first: https://www.bloomberg.com/features/american-mall-game/

[Matson125]

Did they sell 30,000 and keep 120,000?

From the Vornado conference call held today:

What made this deal unique is that we bought back the floor from Kmart who had 18 years remaining on their lease at $33.50 per square foot. This is the first deal we've done with Kmart and Kmart still has 82,000 square feet at 770 Broadway and 141,000 square feet at One Penn Plaza at the same low rents.

[DTEJD1997]

WOW:

SHLD rallied almost 10% today!  Unfortunately, SHLD is still under $2.50 a share!

I can't think of a K-Mart store that is still open AND within a reasonable driving distance.
There are still some Sears stores that are open, along with Sears auto...

I would think that at this point, the odds are against SHLD making it to Christmas 2018.

What a calamity...

[BeerBBQ]

For those who accept the exchange offer, what happens if the stock is still trading around $2.75 when the principal comes due? Can the principal be repaid in stock (in kind like interest payments), can the convert owner choose to have shares issued in lieu of cash, or will the company have to pay principal in cash?

[paperwerks]

“The real estate is worth $150 per share” lol

[scorpioncapital]

It is, but it got transferred to SRG