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From Limelight to Blue Light
by David Levine
February 2008 Issue
February 2008 Issue
Eddie Lampert made his $4.5 billion fortune by investing in companies and turning them around. But the buyout cycle has ended, and the hedge fund manager who has been compared to Warren Buffett is now being forced to change his strategy.
Why Eddie Lampert's failing Sears-Kmart experiment could mean trouble for dealmakers everywhere. Read More
Last Trade:Change:
Summary:
An investment banking, securities and investment management firm, which provides a range of services worldwide to a diversified … View More
Last Trade:Change:
Summary:
The Company conduct its operations in three business segments: Kmart, Sears Domestic and Sears Canada. View More
David Geffen
Industry:
Media and Publishing
Biography:
Mr. Geffen has served as a director since October 2004. Mr. Geffen co-founded and was a principal of DreamWorks Studios from … View More
Michael S. Dell
Industry:
Technology
Biography:
Mr. Dell currently serves as Chairman of the Board of Directors and Chief Executive Officer. He has held the title of Chairman … View More
1984
Lampert graduates with honors from Yale University and is hired by
Goldman Sachs, where he works directly under Robert Rubin.
1988
Lampert leaves Goldman Sachs with the intention of starting his own firm. Rubin warns him that leaving would be a bad career move, but he does it anyway.
1988
Through contacts in the financial world, Lampert hooks up with Texas investor Richard Rainwater, who agrees to provide the majority of the $25 million in startup capital to launch ESL Investments, a hedge fund. Over the years, Lampert's client list would come to include the likes ofMichael Dell and David Geffen.
1997
Lampert's ESL starts purchasing shares of AutoZone. By 1999, it owns a 15.7 percent interest in the company, and he wins a seat on the board.
2002
Lampert begins buying bonds of bankrupt retailer Kmart. In 2003, he gains a majority interest and is named chairman of the board. He announces that he plans to merge Kmart with another struggling company,Sears.
2003
Lampert is kidnapped by four men, one an ex-Marine, in ESL's parking garage on a Friday night. He is held in a motel bathroom until he persuades his abductors to let him go in exchange for a promised ransom.
Lampert graduates with honors from Yale University and is hired by
Goldman Sachs, where he works directly under Robert Rubin.1988
Lampert leaves Goldman Sachs with the intention of starting his own firm. Rubin warns him that leaving would be a bad career move, but he does it anyway.
1988
Through contacts in the financial world, Lampert hooks up with Texas investor Richard Rainwater, who agrees to provide the majority of the $25 million in startup capital to launch ESL Investments, a hedge fund. Over the years, Lampert's client list would come to include the likes of
Michael Dell and David Geffen.1997
Lampert's ESL starts purchasing shares of AutoZone. By 1999, it owns a 15.7 percent interest in the company, and he wins a seat on the board.
2002
Lampert begins buying bonds of bankrupt retailer Kmart. In 2003, he gains a majority interest and is named chairman of the board. He announces that he plans to merge Kmart with another struggling company,
Sears.2003
Lampert is kidnapped by four men, one an ex-Marine, in ESL's parking garage on a Friday night. He is held in a motel bathroom until he persuades his abductors to let him go in exchange for a promised ransom.
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