Today a judge granted the sale of Sears’ assets to the company’s biggest shareholder and company chairman, Eddie Lampert. The move will keep 425 stores open and save 45,000 jobs.
Ray Wimer is an assistant professor of retail practice at Syracuse University’s Martin J. Whitman School of Management.
Wimer says:
“This latest ruling saves Sears for now but I don’t see how selling it to Eddie Lampert helps them stay viable into the future.
“Sears ended up in this predicament because of his leadership over the past decade. They haven’t innovated or adapted to the changing times and are still in the same financial straits that bind their ability to change, adapt or invest in technology.
“Kenmore will likely be sold and the money will go to enrich Lampert and his ESL fund, not used to help Sears.”
To request interviews or get more information:
Daryl Lovell
Media Relations Manager
Division of Communications and Marketing
T 315.443.1184 M 315.380.0206
dalovell@syr.edu | @DarylLovell
820 Comstock Avenue, Suite 308, Syracuse, NY 13244
news.syr.edu | syracuse.edu
Syracuse University
Just a few weeks ago, the Environmental Protection Agency announced it was pulling 12 products off the market that contained pesticides that were harmful to the honeybee. This week, the agency made an emergency exception for nearly a dozen states…
A portion of the fiscal 2020 Agriculture spending bill continues a ban on research that involves gene-editing of human embryos. The field of genetic modification garnered international attention after a Chinese scientist announced last fall that he had created the…
Next week, China is expected to raise tariffs on $60 billion worth of U.S. goods and products, following Pres. Trump’s decision to raise duties on Chinese goods. Which sectors of the retail industry are likely to feel the pinch the…
Syracuse University School of Architecture Dean Michael Speaks offers his thoughts on the passing of I.M. Pei at the age of 102. I.M. Pei was one of the most important architects of the second half of the Twentieth Century….
Those looking up at the sky in northern U.S. states and most of Canada may catch a glimpse of the northern lights this week. Sam Sampere is a physics lab manager at Syracuse University’s College of Arts and Sciences. Below,…
If you need help with your subscription, contact sunews@syr.edu.
