Eddie Lampert is the chairman of two companies headed in opposite directions.
As chairman and CEO of Sears Holdings, Lampert decided to spin off much of the company's real estate — 235 Sears and Kmart stores — into a new real estate investment trust called Seritage Growth Properties in 2015, paying the original company $2.7B to settle some debt obligations. While Sears has continued to bleed money and shutter stores in hopes of avoiding an almost certain end, Seritage has flourished. . . . more