Thursday, October 25, 2018

Sam Seder on the Sears bankruptcy, a tale of the Retail Apocalypse

I told my readers to "Stay tuned" as "I have more on the bankruptcy and Eddie Lampert AKA Fast Eddie Lamprey's role in it from The Majority Report with Sam Seder" to conclude Company Man on the Decline of Sears, a tale of the Retail Apocalypse.  Today, I am following through on that promise after celebrating National TV Talk Show Host Day and Food Day.  Watch and listen to Hedge Fund Becomes ’Nail in the Coffin’ for Sears as Seder and his guest examine the effects of the interlocking leadership of Sears and Lampert's hedge fund as well as the real estate trust that the hedge fund controls that so puzzled Company Man.

Eileen Appelbaum, co-director at The Center for Economic and Policy Research, joins Ring of Fire’s Sam Seder...
For once, the analysis is not blaming Amazon; instead, it is about the asset stripping by Lampert including selling off Land's End and Craftsman.

Seder did not upload the rest of the interview to YouTube.  However, he had earlier discussed The Sears Bankruptcy & Private Equity Raiders With Marshall Steinbaum.  The interview begins at 20:33.

Good morning everyone, on today’s show, Research Director & Fellow, Marshall Steinbaum (@Econ_Marshall) joins us to discuss the Sears bankruptcy, private equity ghouls, and the future of brick & mortar retail...
That was a fascinating, if disturbing, conversation, the point of which was that the Sears bankruptcy was not inevitable, but the result of vulture capitalism, much as I described for Toys R Us and KB Toys.  Eddie Lamprey, indeed!

Seder mentioned that one of the assets spun off was Sears Canada, which I also used to shop at.  Bright Sun Films, which examined Toys R Us, has a video about the demise of Sears Canada that I plan on posting in the near future.  Stay tuned.