Fortune magazine today completes Eddie Lampert’s transformation from hero to goat with this headline: “Whatever you do, don’t buy Sears.” For those who don’t already know, Sears is to Eddie Lampert as Berkshire Hathaway is to Warren Buffett. And for a little while there, Fortune’s sister publication, BusinessWeek, proclaimed Eddie to be the “Next Warren Buffett.”
How the mighty have fallen.
I guess losing $30 million an hour can do that to a guy. And with the beating Warren Buffett is taking in the press lately I wouldn’t be surprised to see the media dub him the “Next Eddie Lampert.”
Sources:
Whatever you do, don’t buy Sears
Suzanne Kapner
Fortune
November 18, 2008
The Next Warren Buffett?
Robert Berner with Susann Rutledge
BusinessWeek
November 22, 2004