The Great Experiment Jan 14 2008
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Hedge fund manager Eddie Lampert at the announcement of the Sears-Kmart merger, in 2004.
The Great Experiment
Illustration by Bryan Christie
This year, the cost cutting and slashing of capital spending caught up with hedge fund manager Eddie Lampert. Net income at Sears Holdings cratered, dropping 99 percent in the third quarter to $2 million. Sales at stores open a year or more, a key measure of retail performance, have continued to drop at both Sears and Kmart.
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