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It's Time For Sears Chairman To Admit Defeat


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I was reading the Graham and Doddsville Fall letter today and Marty Whitman touched on Sears and Lampert when asked about past investments.  He spoke of the Kmart debt he bought in '03 and how well it worked out, but had this to say before saying they've sold off all of their SHLD,

I think Sears is toast. Eddie is very skilled, but I think it will be very hard to turn this thing around. The company has a nice cash  position now from realizing the value of the company‘s real estate. I don‘t know what‘s left.
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I wonder how a good newspaper like G&M can make such a bold statement...... But in the media business you need to grab the eyeballs......


I think the headline comes from the Reuters Newswire - G&M isn't so bold to make that kind of statement.

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