Let this post be a lesson. Don't buy POS businesses. Unless you can gain control and make changes, you are a slave to the current management.
Buy the best company when they get cheap. Wait. Be patient.
Apple at $330 - in hindsight, a steal. Same for google. These companies are on fire.
SHLD is a POS. Smelly. Stinky. Shouldn't touch it.
For all my fans (ok, there are none, but I'll pretend) - I'm looking at GE with some covered calls. Maybe a bigger stake in DJCO. BH at $350.
To identify the largest retailers in America with the worst sales, 24/7 Wall St. looked at the National Retail Federation's Stores Magazine. Using the 2006 and 2001 "Top 100 Retailers" lists we then identified companies that had lost the most in annual retail sales from 2005 to 2010. We only ranked public companies in order to demonstrate how declining sales affect the overall health of the company. We also excluded companies with significant M&A activity because it can distort sales.
Drop in sales: -23.5%
2005 sales: $54 billion
2010 sales: $41.3 billion
5 yr. change in stock price: -50%
Sears Holdings was created in November 2004 by a merger between Sears Roebuck and Kmart. Sears Roebuck was once among the largest retailers in the country and essentially created the catalog business. The merger was engineered by hedge fund manager Eddie Lampert. Each of the chains was weak before the transaction, and Kmart was in bankruptcy. Management has been unable to improve the company's fortunes, which to some extent are hurt by the power of Target and Wal-Mart.