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Sam Zell on Sears/Sears Does Deal With General Growth Properties

scott
in Off-Topic
http://www.marketwatch.com/story/sears-to-partner-with-general-growth-properties-on-real-estate-joint-venture-2015-04-01

Sam Zell on CNBC:

"The magic of the Sears thing has always supposedly been about the real estate. Number one, I think nobody really in my opinion really looked at the real estate very carefully and just said, "How many square feet and multiply it by x." In terms of the new deal, "The reality is that they only did 12. I bet because there was only 12 to do" (that they wanted.)

Talks about how Eddie Lampert took on a major task and that he had his own experience in retail and has no desire to go back.

Comments

  • [Deleted User]
    The user and all related content has been deleted.
  • scott
    Maurice said:

    Sears is up this morning about 4%. In early morning trading it was up over 12%. Reality is settling in.

    Now near flat.

    If you look at the stats on Yahoo finance:
    Float: 13.98M
    Shares Short (as of Mar 13, 2015)3: 11.21M
    Short % of Float (as of Mar 13, 2015)3: 79.80%

    So, there's barely a float left (Sears was booted from the S & P 500 due to float size a while back) and about 80% is short.

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