This little teaser from the LATimes caught my eye:
Sears was once the most dominant retailer in America. After 125 years in business, it has filed for Chapter 11 bankruptcy, with plans to close more than 100 stores but remain open during the holiday season as it seeks to reorganize. The move has been a long time coming. Hedge fund manager Edward Lampert, who took control of the company more than a dozen years ago, has made cuts in an effort to keep Sears afloat. He has also carved out some choice assets for himself.
Lampert, as you may recall, is an avid Ayn Rand fanboi (he named his 288-foot yacht The Fountainhead, after the novel), who actually tried to put her Libertarian economic philosophy/nonsense into action at Sears, with predictable results. Oh, about those choice assets? He spun off Lands End for himself, and looks like Kenmore is about to be liberated to his genius, too. Craftsman brands, unbelievably, was spun off also. The mind boggles.
Lampert is stepping down as CEO, but he remains on the board.