Accentuating the caveat emptor perspective with critical commentary on financial disclosure. I adopt a skeptical persona and look for chinks in the teflon coating of financial disclosure. My job is to identify financial warts. Perhaps a Black Swan. Disclosure: I do not hold positions in stocks mentioned for three trading days before or after blog post.
Friday, June 09, 2006
Sears Complains to OSC
Sears Holdings Corporation (Nasdaq:SHLD) will have its day in court on a July 4 hearing at the Ontario Securities Commission. Ed Lampert who controls SHLD is trying to take over 100% of Sears Canada. He is being twarted by other US based hedge funds/activists who naturally want a higher price. Lampert is complaining that the other funds skirted disclosure requirements. Secretly he resents having to pay more. You can understand everyones position. The buy low sell high dynamic has devolved into corporate bitch slaps. Quite frankly the regulator has better things to do then mediate disputes betwen professional sharks.