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Posts tagged to bankruptcy

Sears seeks to sell assets to ESL Investments: Strategic call of CEO Eddie Lampert is sign of failure

MarketLine

Under CEO Eddie Lampert, Sears has always found enough money to struggle onwards. Now the much criticized hedge fund billionaire is seeking to buy the Kenmore appliance brand from his own company via his own hedge fund, ESL Investments. Lampert himself claims the sale “will provide an important source of liquidity” for Sears and help “to complete its transformation to respond to the challenging retail environment.” Few expect that sort of turnaround. Conventional wisdom dictates a troubled retailer needs to maintain the most lucrative assets under its control, not sell… Read more

Takata: Exploding end to a scandalous journey

MarketLine

Takata started out as a textile manufacturer more than 80 years ago and in 1960 expanded into the car parts manufacturing business, riding the wave of industrial expansion in Japan. After teaming up with Honda it became a leader in auto safety systems that also served overseas clients. In the late 80s, the company became the subject of an official investigation due to a reported failure of its seatbelts installed in many Takata-equipped Honda vehicles. The investigation led to the second largest safety recall in US history, affecting 8.9 million… Read more