Filed under: Bad news, Management, Sears Holdings (SHLD)

Not so long ago, Sears (NYSE: SHLD) had become something of a value glamor stock. Journalists waxed about hedge fund manager-turned-Sears chairman Eddie Lampert’s plan to turn the company into an investment vehicle — comparisons to Warren Buffett’s Berkshire Hathaway (NYSE: BRK.A) were ubiquitous.

After yet another terrible quarter, Sears is down nearly 50% from its 52-week high, Herb Greenberg has even suggested that CEO Alwyn Lewis could be shoo-in for his Worst CEO of the Year Award.

Lampert’s reputation as Sears chairman has gone from the penthouse to the outhouse pretty quickly, and he’s not too happy. In fact, he’s lashing out at critics. In a letter to employees on Friday, he wrote that:

While we were not pleased with these results, much of the commentary in the media and on Wall Street following the results ignores the strength of our company and the progress that we have made . . .

Continue reading Ed Lampert whines about Sears critics

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This entry was posted on Tuesday, December 4th, 2007 at 9:02 am and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.