When Management is the Reason Your Company is Struggling Financially

Eddie Lampert’s 4.8-billion-dollar Sears buyout announcement earlier this month comes amid the once-iconic corporation’s Chapter 11 bankruptcy filing. The bankruptcy, filed in October, allows for financial restructuring. Lampert personally stands to lose 2.4 billion if it fails. While the buzz around this latest headline is focused on Lampert’s intentions to possibly bleed the company of more money through the deal’s fine print, the fact remains: even in bankruptcy, Lampert is still in charge of a business he is widely accused of running into the ground. A Business Insider article reveals the intimate details of a small, private meeting between Lampert and a few mid-level employees, providing insight into a deeper level of dysfunction within the once-iconic company. The article describes employees’ fearful preparations moments before Lampert appeared on a screen at Sears Illinois headquarters. He joined the meeting from his Florida mansion. The…

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