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I haven't been inside a Sears store for more than 10 years, until Thursday, June 22. And, wow, did I learn a lot. Mainly, I came away with a better understanding of why Sears Holdings Corp. (SHLD) is closing an additional 20 stores on top of the 245 it already planned to shutter. And why it has failed to turn a profit in 29 out of the last 37 quarters and seen same-store sales decline in 11 of the past 12 quarters. I observed alienating treatment of a loyal customer at the store in Jersey City, N.J., which was also messy and uninviting inside. When I came upon customer Stephanie Rosso, a resident of Jersey City, she was struggling with four employees to get a simple return transaction completed
It has been a rough stretch for Wall Street honcho Bill Ackman. The hedge-fund manager, who runs Pershing Square and boasts a net worth of $1.4 billion, reportedly locked horns with former Vice President Joe Biden at a dinner in Las Vegas last month, according to Fox Business and the New York Post. Biden—still reeling from the death of his 46-year-old son, Beau Biden, who lost a battle with brain cancer two years ago—cited his son’s death as the central reason that he didn’t make a run for the White House in 2016. According to the reports, Biden grew emotional as he explained his decision to a room of high-profile attendees, concluding with, “I’m sorry. I’ve said enough.” At that moment, Ackman
"An investment in our company from one of history’s most admired investors represents a vote of confidence in our experienced leadership team and an affirmation of our profit-center real estate investment and management approach," said Christopher Holk, Store Capital's CEO.