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Blogs about ESL

Blogs	Description	Date Updated
ESL Files 13D/A in Sears Holdings	Eddie Lampert's ESL Investments just filed a 13D/A with the SEC in regards to Sears Holdings (SHLD) "This Amendment No. 12 to Schedule 13D (this “Amendment”) relates to shares of common stock, par value $0.01 per share (“Holdings Common Stock”), of Sears Holdings Corporation (“Holdings”). This Amendment No. 12 supplementally amends the Statement on Schedule 13D, as amended, filed by the Reporting Persons (as defined below) by furnishing the information set forth below. Unless set for...	September 03, 2008
SHLD...Updated "Short" Math	Some updated Short Math...Holder Name---Shares---%ESL Investments, Inc.---65,639,184---51.0%Fairholme Capital Management LLC---16,110,090---12.5%Legg Mason Capital Management, Inc.---12,503,168---9.7%Pershing Square Capital Management---6,746,568---5.2%ClearBridge Advisors---4,789,523---3.7%Perry Capital---2,694,95---22.1%Davis Advisors---2,020,96---11.6%Dalal Street, Inc.---517,608---0.4%T2 Partners Management LP---50,625---0.0%Greenlight Capital, Inc.---11,240---0.0%Total held by above---111,0...	August 29, 2008
Sears Holdings.......Some "Short" Math	Let's look at some numbers in stock ownership of Sears Holdings (SHLD)..ESL Investments, Inc.= 65.6 millionLegg Mason Capital Management, Inc.= 12.5 millionFairholme (Bruce Berkowitz)= 12.3 millionPershing Square Capital Management, L.P.= 6.7 millionTotal= 97.1 million shares or 77% of the total outstandingAs of 8/15, 33 million shares were short.So, Sears has 126 million shares outstanding as of 8/2, 97.1 owned by people famous for long holding periods, and 33 million short.By now you are sayin...	August 28, 2008
AutoNation, Sears and AutoZone Getting Closer	src="http://d.yimg.com/ds/badge2.js" badgetype="square"> ARTICLEURL So when will the combination of the three happen? AutoZone (AZO) added two new Board Members the other day. They are:William Crowley, a former managing director of Goldman Sachs (GS). Crowley also has served as a director of Sears Holding (SHLD) since 2005. He has served as a director of Sears Canada Inc. since March 2005 and as the chairman of the board of Sears Canada since December 2006. Since 1999, he has been president ...	August 19, 2008
The Week's Best At VIN	A long list for the week away at Value Investing News 1. Buy ‘Em Back at Western Sizzlin’ (via www.circleofcompetenceblog.com)Western Sizzlin' announced a share buyback authorization today, which is terrific news for shareholders. In this article I explain why that make sense for WEST and all undervalued companies. 2. TRANSCRIPT: Warren Buffett's Power Lunch Interview on "Exploding" Inflation (via www.cnbc.com)This is a transcript of Warren Buffett's live interview with Becky Quick on CNBC'...	June 27, 2008
More on Sears Holdings "Going Private"	Ever since the first post on this issue I have been looking into this further. Today's Autozone (AZO) filing with ESL (Sears Holdings (SHLD) largest shareholder) gave me the information I needed. From the Findlaw Legal site "Delaware's Analysis Fiduciary principles have long been established to protect minority shareholders in interested transactions. This protection is embodied in the "entire fairness" standard, a reasonably stringent review. Under a fairly recent line of cases, controlling...	June 26, 2008
ESL / Autozone Agreement Filed with SEC	Here are the applicable portions. Section 3.1 New Directors. In accordance with the provisions of this Article III, the Company shall take appropriate actions, once nominees are identified satisfying the requirements of Section 3.2, to add three (3) new members to the Board (the “New Directors”). It is the intent of the parties that such additions shall occur as promptly as practicable, but in no case later than the Company’s 2008 Annual Meeting of Stockholders. Section 3.2 Sel...	June 26, 2008
More on Lampert's AutoZone (AZO) Agreement	I posted the agreement between Eddie Lampert and Autozone (AZO) this morning and got a flood of questions. Reader Jeff answered 90% of them with this post. "EBITDAR- Earnings Before Dep./Amor, Interest, Taxes, Rent (lease payments). Thus, the company can take on long term debt of 2.5x its annual EBITDAR. Relatively modest leverage. The voting restriction for ESL is basically saying that, if he continues to accumulate, the shares he gets over a certain level (40% now, coming down to 37.5%), ...	June 26, 2008
Autozone (AZO) Increases Buyback, Reaches Agreement with Lampert	AutoZone, Inc. (AZO) today announced that its Board of Directors has authorized the repurchase of an additional $500 million of the Company's stock, bringing its current unused repurchase authorization to $608 million. Including the additional authorization, the cumulative share repurchase authorization approved by its Board since 1998 totals $6.4 billion. Additionally, as part of the Company's ongoing evaluation of its capital structure, the Company has decided to increase its adjusted debt / ...	June 26, 2008
Friday's Links	Yahoo, ESL, Whitworth, Starbucks - Yahoo goes after a blogger...- Lampert's holdings- At least he owns a bunch of the company he is helping to ruin- Took long enough↑ Grab this Headline AnimatorVisit the ValuePlays Bookstore for Great Investing Books Enter your Email Preview \| Powered by FeedBlitz...	June 20, 2008

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