clownface

While Street Yells 'Sell!' Lampert Buys Back 4% of Sears

"Makes no difference what Lampert does; he can't save Sears,he can't save K-Mart, nobody is buying big-box commercial space so the "real estate play" aspect of SHLD is nil as well."

The real estate is nil?
Here is a little math for you:
Even if one assumes that commercial real estate is leasing at 8$ sq ft and assuming a cap rate at 9% (which is overly conservative), puts comm real estate values at $88/sq ft.
SHLD has about 200mm sq ft of owned commercial real estate. Or almost 18bb in real estate assets.
SHLD could liquidate its inventory, service its remaining debt, have a staff of 5 at corp headquarters and spend its days signing up tenants.