Sears Braces For Spending Slump

Chairman Lampert would have prospective investors believe Sears' problems are because of the recession.  That's understandable, since he isn't likely to admit that he blew it squandering billions on overvalued stock buy backs, while reducing its retail business to the worst operation in the industry.  Having said that, I think the consumer will be radically different as the recession...

Eddie Lampert came up with about a half dozen excuses for lousy performance that in 40 years of listening to retailers use excuses about the weather, fashions, the weather, early or late holidays, the weather, and many other tired cliches, I had not heard before. While in this annual meeting he almost sounded as if he knew something about retailing, he spent most of his time...