Friday, October 19, 2018

Sears’ Edward Lampert was a wizard. Now he’s coming to terms with failure

Boston Business Journal
At 28, Edward S. Lampert was the subject of a front-page profile in The Wall Street Journal headlined “The Climber.” His hedge fund’s 29 percent annualized return landed him on the cover of Businessweek in 2004. Forbes pegged his net worth at $3.5 billion in 2005, ranking him 61st on its annual list of the richest Americans.

Then he bought Kmart out of bankruptcy and merged it with the venerable Sears. . . . more