actually, lampert can not get rid of his stock.
if he were to do that then he would no longer be considered the majority owner for purposes of transferring the nols from sears to holdco. he would have forfeited the "proprietary interest" provision required for the successful transfer and ability to utilize the tax assets (aka the nols and tax credits).
remember, there has to be AT LEAST ONE shareholder who was a majority shareholder in both the acquired (old sears, aka shc) as well as the acquirer (new sears, aka transform holdco) company. although the sale was approved, the closing has yet to happen.
there are filings describing the above issues.
i agree, there are probably flipping opportunities. however, the volume has dried up. best to escape before being sucked into a black hole.
how many didn't get out when the price was in the mid $2 range (me included)? as previously posted, i got out at a nice profit but i missed the opportunity to realize a really really good profit.
again, still looking for the needle in the haystack for commons to be saved but i just don't see it happening. if it were to happen, then i also don't see a 1 for 1 exchange. a really bad exchange, if it were to even occur, would leave most worse off than they are now.
if this fails as i suspect it will, look in the mirror, don't blame eddie. eddie's in it to win it. eddie will look out for eddie.
to me, the recent announcement about lampert asking the court to appoint a mediator to settle a number of matters between holdco and shc (docket filing as well as news coverage) screams an end to a bad marriage as opposed to a reconciliation.
maybe a bad analogy since shc and holdco aren't and never were married, but hopefully the comparison is not too nuanced.
