Sears’s Edward Lampert Was a Wizard. Now He’s Coming to Terms With Failure. [The New York Times]
VictoryShares Protect America ETF (SHLD)
US:NASDAQ Investor Relations:
searsholdings.com/invest
Company Research
Source: The New York Times
Thanks to his early successes, Mr. Lampert is still very, very rich; his fortune today is estimated at $1.1 billion, according to the latest Forbes survey. He will likely emerge from the Sears collapse with many more assets than most people realize. He owns lavish homes in Greenwich, Conn., and Indian Creek, Fla., just off Miami Beach. But he no longer makes the cut for Forbes’s 400 richest Americans. His net worth has plunged by $3 billion since peaking at $4.5 billion in 2007, the magazine estimates. At Sears, all of his compensation was in stock. He never sold a share. The stock is now all but worthless. “I’ve taken a huge personal hit,” Mr. Lampert told me this week in a wide-ranging interview, his first since the bankruptcy filing. “Not just in money, but time. There’s been an enormous opportunity cost.” There was widespread skepticism when Mr. Lampert first merged two once-popular but struggling retailers in 2005. On one flank was the mighty Walmart. On the other was th
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