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Oy vey. So much financial engineering. So much absurdity. If Fairholme and Lampert love Sears so much, take the thing private already and stop all the nonsense. Short sellers will be back because they know Christmas isn't going to be any better because there's no real interest in improving the underlying business whatsoever. And the bonds they're offering are unsecured? Gee, where can I sign up to get unsecured bonds from a retailer in bad shape?
So dismaying, can't just run a solid business today, have to engage in this sort of nonsense - which inevitably gets bigger and more utterly ridiculous the weaker the underlying business becomes.
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I will reread again after a few 5 O'clockers...
So dismaying, can't just run a solid business today, have to engage in this sort of nonsense - which inevitably gets bigger and more utterly ridiculous the weaker the underlying business becomes.
http://seekingalpha.com/article/2601325-as-the-sears-canada-rights-approach-zero-a-risk-emerges