Billionaire Investor Stanley Druckenmiller Says the Next Financial Crisis could be Worse than the Last (Business Insider)
Stanley Druckenmiller has just about had it with historically low interest rates. In his mind, they’ve infected financial markets and led to exorbitant pockets of debt all around the world. More than anything, he’s worried about the reckoning that’s bound to transpire as global central banks make borrowing more expensive. The billionaire investor said as much during a recent interview with RealVision.com seen by Business Insider. The chat was conducted by Kiril Sokoloff, the chairman and founder of 13D Global Strategy & Research, and a market legend in his own right.
Sears Still Very, Very Much Screwed, Eddie Lampert Still Very Much Going To Be Better Than OK (DealBreaker)
As we’ve explored on numerous occasions, even though Eddie Lampert has rather thoroughly run Sears into the ground in his dozen years at the helm, he’s done so in a way that ensures that, in the end, Eddie Lampert will be fine, even if Sears is not. And so it is with his latest plan to “save” the unsalvageable retailer, restructuring its debt while slashing yet another 200 more stores and whatever else people will buy, preferably including Kenmore and the good parts of Sears Home Services, which by the way Eddie Lampert would very much like to buy. And wouldn’t you know it, but the first part of this newest plan is to cut Eddie Lampert a $1 billion check?
Sears Shares Fall Below $1 as Key Debt Deadline Nears (CNBC)
Shares of Sears Holdings fell below $1 for the first time on Friday morning, hitting an all-time low as the department store chain is running out of time to stay afloat. The stock was last down roughly 9 percent to trade around $0.92. The tumble follows a proposal earlier this week from CEO Eddie Lampert’s hedge fund, ESL Investments, to restructure the company in order to avoid bankruptcy.