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jasonrothman1

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  • Sears Holdings (SHLD) gives an update to its Q4 and FY12 earnings guidance, saying it sees Q4 EPS coming in at around $1.25 - $2.00, beating consensus estimates of $0.86, on an adjusted EBITDA of $265M - $465M. FY12 EPS is expected to come in at a loss of between $1.16 and $1.92, beating consensus estimates for a loss of $2.66. Separately, the company annnounces that CEO Louis D'Ambrosio will step down due to family health matters at the end of the company's fiscal year on February 2, 2013. Edward Lampert will assume the role of CEO, in addition to his role as chairman. [View news story]
    Another CEO bites the dust. Maybe "upper management (Lampert) was on (Lou) for not performing and executing fast enough." We'll never no for sure if "family health matters" is the real reason for stepping down, but from what I've read he'll leave with almost $10 million in compensation this year for his efforts.
    Jan 8, 2013. 12:31 AM | Likes Like |Link to Comment
  • Long-Term Sell And Hold In Sears Holdings [View article]
    If Macy's doesn't want to stay, it can't be that great a property. Not that there aren't some "prime" locations that Lampert can still extract some value from, but when he first started selling off Kmart properties when he took over Kmart and used the cash from that to buy Sears it didn't leave much valuable property on the Kmart side of the equation, so Kmart will most likely be left to "hang out to dry." Only time will tell if there's still enough "value" there in Sears locations (and leases) to make enough money... I just don't think so.

    It's a tough market for commercial real estate, and not too many companies are expanding in the States. Maybe in Canada like the article mentioned above, and hopefully Target won't start to carry large appliances there because that would further kill Sears/SHOS in Canada, which is already struggling. Also, the "1995 RE cycle" didn't have a country $16 trillion in debt and banks unwilling to make loans. Again, only time will tell.
    Jan 7, 2013. 08:43 PM | Likes Like |Link to Comment
  • Long-Term Sell And Hold In Sears Holdings [View article]
    Here's another Sears property in Colorado that's been closed but owned by Sears. Sears has turned down offers on it, but they're just not getting the numbers they want for it.

    http://noconow.co/UMgadU

    The city is considering using "eminent domain" if Sears won't take the offer. Another way of "unlocking the value" of the real estate? Looks like Lampert's business strategy is working perfectly.
    Jan 4, 2013. 11:36 PM | Likes Like |Link to Comment
  • Long-Term Sell And Hold In Sears Holdings [View article]
    ...while another Kmart store is closing in Chicago and 82 employees are out of jobs...

    http://trib.in/WdyEAW

    "Riefs said the 82 employees, including both full- and part- time workers, were notified of the closing in early November and can apply for positions at other Kmart and Sears stores."

    The operative word here is "apply" at other Kmart and Sears stores. Why not work with the other stores to help them get jobs there for the employees interested in transferring? ...because there aren't any positions available since the Xmas rush is over, and since many have probably been with the company for awhile, why hire someone that's probably making more than minimum wage anyways?

    Also stated in the article, "Heniff said neither the village nor Sears has anyone lined up to replace Kmart yet, but noted that the 10.75 acre site with the 104,000-square-foot building is at "a premier intersection with great traffic volume and great access." Good luck on "unlocking the value" in that piece of real estate anytime soon.

    "Retail" vs "Holdings" - I doubt either will win in the end.
    Jan 4, 2013. 11:10 PM | Likes Like |Link to Comment
  • Long-Term Sell And Hold In Sears Holdings [View article]
    "Big" Lou D'Ambrosio (actually, you're being funny aren't you since he's not that big lol!) has done okay since he came to Sears just under two years ago, but employees at the stores tell me they've seen more and better changes since Ron Boire came onboard at the beginning of 2012 and he has some solid retail experience. Lou seems to be concentrating more on the Shop Your Way Rewards program and technicals and Ron on the actual merchandising. Granted, both are needed nowadays, but you can't lack in one and expect the business to succeed.

    Plus never forget your employees need more incentives other than to say "if you don't like it, there's the door," and I'm not talking about just the top execs getting huge bonuses when the company does bad, which is just wrong. It's not the way companies like Google, Apple, and Microsoft have retained good employees.
    Jan 3, 2013. 06:42 PM | Likes Like |Link to Comment
  • Long-Term Sell And Hold In Sears Holdings [View article]
    I guess depending on how one uses the terms "fired" or "resigned" Best Buy CEO G.Mike Mikan may have been fired and replaced since Best Buy hasn't done well under his rule. Probably a better fit for ESL though, but I doubt it'll help Sears (retail side). The following quote from an article link below may have something to do with it.

    http://bit.ly/VC921y

    "He was well-versed in accounting and finance issues, but Mikan had little retail or online experience, and eventually Best Buy chose as CEO Hubert Joly, a Carlson Cos. executive."
    Jan 2, 2013. 07:45 PM | Likes Like |Link to Comment
  • Long-Term Sell And Hold In Sears Holdings [View article]
    I've mentioned before I understand the difference between Sears "retail" and Sears "holdings." As a matter of fact, that's why I've stated previously that Lampert didn't have much intention of saving the retail side of the company because his main concern was keeping the value of the real estate at his disposal, I just don't believe he'll be able to get as much out of it as he and Berkowitz believe. My opinion, but I don't believe the livelihood of 100's of thousands of workers should be lost just because someone cares more about the real-estate and sell-off value of a company instead of putting some money into the stores to breath some life back into them.

    That said, I have just as much right to say what I believe as anyone here since you referenced someone as a "so called troll retail expert." I agree with the author of this article on Sears when he stated "until something significantly changes in the form of a positive catalyst, I'm bearish on the stock."
    Jan 2, 2013. 07:31 PM | Likes Like |Link to Comment
  • Long-Term Sell And Hold In Sears Holdings [View article]
    Eddie Lampert and Sears Holdings keeps getting compared to Warren Buffett and Berkshire Hathaway. If this is true than you really should hear what Buffett himself said about his investment in Berkshire in this video:

    http://bit.ly/TS7O49

    It'll shed some light on how Buffett got where he is, but also on where he could have been much faster if he hadn't invested in Berkshire in the first place. Sometimes people do things for the wrong reason but still come out on top.

    Eddie Lampert is playing a "hand" that he is too proud to get out of without losing face. I doubt he wanted things to go as bad for Sears as it has, but he also knows there's value in the break-up of Sears and the real estate. He played it safe (or you could say down the middle) and didn't invest enough in the company to succeed and now he can only bank on the real estate value. I just don't feel there's going to be as much value as some believe.

    Also, the CFO Sharon Driscoll, did resign. She was not fired as mentioned, but then it's been a "revolving door" for many executives at Sears since Lampert took control. If you ever listen to Buffett, he only likes to invest not manage his holdings, unlike Lampert. Maybe someone Eddie could learn from since some people have called him his "idol."
    Jan 1, 2013. 04:29 PM | Likes Like |Link to Comment
  • Last Minute Gift Buying Simplified with In-Store, Online and Mobile Deals from Sears®, Kmart® and Extra Perks for SHOP YOUR WAY™ Rewards Members [View article]
    If Lampert takes the company private, he'll sell off Sears and Kmart real estate and keep the intellectual property Kenmore, Crafstman and Diehard, and make it part of ESL Investments.
    Dec 26, 2012. 05:12 PM | Likes Like |Link to Comment
  • Sears Holdings Elects Paul DePodesta To Board [View article]
    If that's true, which I doubt, they probably are wishing they didn't since the stock is all the way down to $40 now.
    Dec 24, 2012. 07:11 PM | Likes Like |Link to Comment
  • Last Minute Gift Buying Simplified with In-Store, Online and Mobile Deals from Sears®, Kmart® and Extra Perks for SHOP YOUR WAY™ Rewards Members [View article]
    Let me make it simple.

    I know how business works, but if you don't put anything in you're not going to get anything out. The only things that Lampert cared about is the Shop Your Way Rewards program, getting customers to sign up for Sears credit cards (w/ high interest rates), and the Sears/Kmart websites, as well as being infatuated with Amazon.com and Apple as some standard to live up to. As I said before, I know plenty of Sears and Kmart employees over the years that say the stores were never given the opportunity to succeed. Hardly any money was invested in the stores to make them competitive. Suggestions were never taken or wanted from management.

    Lampert might be a great investor, but he is a horrible manager of people. Just ask many of the execs that have come and gone over the years. It's been a revolving door at Sears headquarters. It seems his main interest has always been making money from the break up and keeping the iconic Kenmore, Craftsman, and Diehard brands for himself afterwards.

    Again, I may have jumped on the band wagon with you if I didn't know some of the "behind the scenes" things that has happened over the years, but I will not contribute to what has caused the decline of Sears and Kmart before and after the bankruptcy, as well as the reign of Lampert.
    Dec 24, 2012. 07:04 PM | Likes Like |Link to Comment
  • Last Minute Gift Buying Simplified with In-Store, Online and Mobile Deals from Sears®, Kmart® and Extra Perks for SHOP YOUR WAY™ Rewards Members [View article]
    You keep saying the following or something similar:

    MSF states:

    "The consensus, including Berkowitz, says that if the real estate was priced to market the stock conservatively would be worth $160.00 - broken up and liquidated."

    I'm not saying there won't be some money to be made, but it will come from what you say is a "broken up and liquidated" Sears/Kmart, and Lampert and Berkowitz are the two that will make the most from it because they own the largest amount of shares. The rest of us will be "picking at the scraps" left behind.

    I'm just saying I won't invest in what I believe is a plan to make some people richer at the expense of the people working there. Everyone gives Walmart a bad rap in their treatment of employees, but Lampert has been no better for the Sears/Kmart employees while he's been in charge. He had upwards of 10 full-time employees fired back in February in each store, trying to run the stores with mostly part-time workers who have practically no skills or loyalty for the company, and many that weren't let go, haven't seen a raise in at least 4 years. He even praises Walmart (his rival) in a speech he gave for the Nantucket Project below.

    http://bit.ly/VeBDwR

    So go ahead and help Lampert and Berkowitz make more millions, and maybe some for yourself, but I don't see as much "value" in the break-up as you or they do, and on a moral basis I won't either.
    Dec 23, 2012. 07:22 PM | Likes Like |Link to Comment
  • Last Minute Gift Buying Simplified with In-Store, Online and Mobile Deals from Sears®, Kmart® and Extra Perks for SHOP YOUR WAY™ Rewards Members [View article]
    Overvalued property, poor sales, selling off bits and pieces, and laying off tons of employees, does not a good investment make. It's like the sinking of the Titanic, there's some life boats but only for a select few. I'm sure Lampert and Berkowitz will be on one floating all the way to the bank.
    Dec 22, 2012. 03:47 PM | Likes Like |Link to Comment
  • Sears Holdings Elects Paul DePodesta To Board [View article]
    Turnaround?.... He'll have to show his hand soon, because I don't see investors believing the hype for much longer.
    Dec 22, 2012. 03:24 PM | Likes Like |Link to Comment
  • Sears Holdings Elects Paul DePodesta To Board [View article]
    You know what they say, "the bigger they are, the harder they fall." I'm not sure Eddie would be where he is today if he wasn't given $28 million and a bunch of clients from Richard Rainwater to start ESL Investments.

    I doubt he'll get half of what some say the real estate is worth, so Sears stock probably won't top out past $80 when he starts selling off the company and firing tons of hard working employees. I'd rather invest in a company that management really cares about and their employees, not just the real estate.
    Dec 20, 2012. 11:10 PM | Likes Like |Link to Comment
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