Jobs, Jobs, Jobs: Why Lampert’s Bid Won Contest for Sears (1)

Fifty thousand jobs. Fifty thousand jobs. Fifty thousand jobs. Just keep saying that over and over, much like Eddie Lampert’s team, and you’ll have one of the key reasons the hedge fund manager was able to fend off liquidators against long odds for control of Sears.

Lampert’s ESL Investments consistently raised the potential of mass dismissals in public statements, letters and court filings to keep alive a sometimes-wobbly bid that was rejected more than once. Sears Holdings Corp. initially pegged the number of jobs at 68,000 when the retailer went bankrupt in October; it was later trimmed to 50,000 as ...