Sears Canada Inc SRSCQ

RE: techguru

[bushhog1]

You said " SCC based on what is happening at parent is at a turnaround point in it's life cycle etc ". The picture I am getting is : Kmart underwent chapter 11 bankruptcy protection - emerged, but shareholders got stiffed - Kmart sold 54 Stores that were unprofitable to Sears Roebuck - made hefty profits - results in attractive earnings reports for Kmart - Kmart subsequently merged with Sears Roebuck - results - the birth of Sears Holdings. Please help me understand . Why did Sears Roebuck , paid a helluva lot for Stores that were unprofitable ? Would you not agree that there was a lots of cost attached to this merging including Lacy $37 mm and stock options to Officials as bonuses for "a job well done " To date, why can"t we see the recordings of the combined earnings and balance sheet reports under the new Sears Holdings? Would you not agree that something was wrong, in the valuation of these Stores at the bankruptcy protection causing the Shareholders to get stiffed. Then quickly afterwards they were valued so much that Kmart was able to show hefty earnings. Just curious !! Thanks !