I suppose we shouldn't expect sanity from a man who thought it was a good idea to merge Sid-and-Nancy retail basket cases Sears and Kmart.
But the Chicago Tribune reports on a bizarre investor letter from Sears Holding Corp. CEO Edward Lampert.
The hedge fund manager with the Goldman Sachs
pedigree expounds for 8,500 words … on topics as far-flung as the government's missteps trying to
contain the financial meltdown, short-selling rules, civil liberties,
the writings of free-market Austrian economist Friedrich Hayek and the
notion, repeated in past letters, that the credit rating agencies are
unfairly rating Sears' debt junk.
pedigree expounds for 8,500 words … on topics as far-flung as the government's missteps trying to
contain the financial meltdown, short-selling rules, civil liberties,
the writings of free-market Austrian economist Friedrich Hayek and the
notion, repeated in past letters, that the credit rating agencies are
unfairly rating Sears' debt junk.
"As for enlightening investors with specifics about his merchandising strategy and fiscal 2009 outlook," an analyst remarks in the Trib piece, "we guess he ran out of room."
(Hat tip to Boots reader Kasia Chalko for steering this piece my way.)
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