They had $819 million in liquidity available at end of last qtr people. With the refinancing of the July loan they are not going to run out of cash in early July. Presentation deck page 6
Yesterday Eddie had $32 million worth of SRSC, and Brucie/Fairholme had $28 million. Today, not so much. Arrogant billionaires who can't conceive of themselves being wrong on anything. Dolts.
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SHLD has become the most predictable stock on the market. Traders can bet on the price going up whenever bad news comes out instead of down.
Haha Eddie is going to be reading Chapter 7 of the tragedy that is his Sears story. He thought he was the hero of the story, instead he's the village idiot.
knowing BK is coming why would anyone buy this, It doesn't make sense.
To all the longs who think Eddie and Brucie are brilliant: both of those chuckleheads were buying SRSC up until recently. Both see the books. Both see the insider information that only a board sees. And SRSC declared BK this morning. Your thesis about the twins idiots being brilliant is completely torched.
I can't believe some people think this will ever hit $10.00 a share again. Your insane.
Bankruptcy is Imminent. Sears Is Obviously so tight on liquidity that they cant buy goods from vendors and they are firing everyone in the stores such that there are no cashiers if you go to visit a sears. Obviously this strategy is to make it to July 7th or July8th to avoid the 2year federal window on fraudulent conveyance.
SHLDQ new symbol early July
Liquidity is based on what Sears (Ed) says everything is worth. Would anyone be surprised if the value of the remaining assets is less in the real world?.. No. They need cash, period. They need to announce a deal soon, so it can close before their money is gone. If they had any type of liquidity (cash), don't you think Ed would of paid himself back for the $500,000,000 that was due? Funny how longs see a dead cat and think it is something positive, I've seen companies announce BK, that will burn shares, and the stock still bounces due to short covering and simple supply/demand. Nobody is going to buy this turd, Ed would've if there was some secret value to unlock, he's already stolen most of what had value. I give Ed credit to convincing others to stay onboard as long as they have, but this party is months from finally being over. I hope we get more bounces along the way, I've made plenty selling naked calls, and would love the chance to sell more.
Sears Canada just filed for BK. SHLD popped up this morning. That makes sense. #$%$????
Glad I didn't take Kramer's advise when he was touting this as a strong buy at $160.
WHY SEARS HAS NO ASSETS TO SELL TO STAY AFLOAT:
Everyone knows that Sears is a candidate for Bankruptcy. Any deal that Sears does now moving forward will be reviewed for possible clawback by a bankruptcy trustee. Another words, if someone like Amazon, Google, Apple, Microsoft or whoever cherry pick the prime real estate they too could be involved in protracted litigation in the bankruptcy court to unwind a deal. Same goes for Die Hard, Kenmore and the like, at this stage its too risky for an outsider to buy their assets.
Unless there is a complete buyout, Sears has no assets to sell. But wait, that would mean they would have to assume all their liabilities too.
Maybe the Lawyers for Sear CA Can copy the paperwork for Sears-USA filing next week. LOL
understand this esl/shld/fairholme owns 77 % of sears Canada stock... its failure will effect SHLD
The bankrupcy of SRSC will only add to Sears quarterly losses. Closing 20 more stores today. A short squeeze can happen if they could turn turn around their results, which i do not think they can. Their quarterly losses are too steep. Don't see how they can make it much longer. No retailers are growing to the point they will want to purchase their locations.
Eddie Lampert appears like Captain Ahab, tied and bound to the back of the Great White Whale, Moby#$%$....Surfacing one last time before he goes down with Sears for the final plunge into the depths of the dark financial ocean.A tale for the ages.. Something to tell your children about...
SEARS CANADA TRADING HALTED THIS MORNING
Sears is closing 20 more stores. They are cutting costs big time!
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Eddie is done for the day. Back to 6.30ish by close.