Edward lampert

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Edward Scott Lampert born July 19, [2] is an American billionaire businessman. He is the former chief executive and chairman of Sears Holdings , the founder of Transformco , and the founder, chairman, and chief executive of ESL Investments. Until May , he was a director of AutoNation. Lampert was born in to Dolores Lampert and Floyd M. He is Jewish. He has a younger sister Tracey.

Edward lampert

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They have forced me to dig deep, edward lampert, to discover who I am and what I value. Retrieved March 18,

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A Yale graduate whose college roommates included future U. But Lampert has had to overcome more than just the tumultuous attempt to turn around Sears, surviving the early death of his father, the arrest of his first boss and a fortunately bungled kidnapping. The son of a lawyer and a stay-at-home mom, Lampert grew up in relative affluence on the North Shore of Long Island. Lampert attended Yale on financial aid, where his roommates included Mnuchin, whose father was a senior partner at Goldman Sachs. Lampert landed an internship at Goldman before his senior year and a full-time gig after graduation. Lampert worked in the risk arbitrage department at the investment firm for four years, where colleagues included former U. Treasury Secretary Robert Rubin.

Edward lampert

A Yale graduate whose college roommates included future U. But Lampert has had to overcome more than just the tumultuous attempt to turn around Sears, surviving the early death of his father, the arrest of his first boss and a fortunately bungled kidnapping. The son of a lawyer and a stay-at-home mom, Lampert grew up in relative affluence on the North Shore of Long Island, N. But everything changed at age 14, when his father died of a heart attack, putting the family's finances on shaky ground. Lampert's mother went to work as a sales clerk and he pitched in with summer jobs. Lampert attended Yale on financial aid, where his roommates included Mnuchin, whose father was a senior partner at Goldman Sachs. Lampert landed an internship at Goldman before his senior year and a full-time gig after graduation. Lampert worked in the risk arbitrage department at the investment firm for four years, where colleagues included former U. Treasury Secretary Robert Rubin. He reportedly made the decision to strike out on his own after the arrest of Robert Freeman, head of stock arbitrage at Goldman, on insider trading charges.

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While there, he worked directly with Robert Rubin. The fortunes of Sears never recovered. Yale University. February 1, Read Edit View history. Like many hedge funds that have gotten burned investing in fading retailers, ESL is believed to have premised its original Sears thesis on the value of the real estate the retailer owned. American businessman born Succeeded by Vacant. Toggle limited content width. In any typical bankruptcy, the secured debt would be considered safe. Little, Brown and Company. To some observers, Lampert was simply doing his best to save the iconic retailer from the dustbin. In fact, in an interview with The New York Times days after the October 15 bankruptcy filing — his only one since then — Lampert chose his words carefully. ESL has said the claims are without merit.

More than a decade ago, hedge fund manager Eddie Lampert touted his merger of Kmart and Sears by saying it would lay the groundwork for a grand revival of the struggling retailers.

Until May , he was a director of AutoNation. James B. Toggle limited content width. Those losses, however, pale in comparison to the profits Lampert made, thanks to the compensation structure of his hedge fund, which he launched in at the age of This is a mistake on his part. He has been criticized by employees and corporate staff for "shredding" his employees in corporate meetings and "being out of touch with reality", as well as for failing to invest in the physical stores, as many of them are deteriorating. Kinga Lampert. Cohen shakes his head at such comments. That is not right — it is theft! Retrieved 18 July Download as PDF Printable version. The Sears chairman Lampert relinquished the CEO role when Sears filed for bankruptcy protection declined to be interviewed for this article. In , Lampert was kidnapped from the parking lot of his Greenwich office but persuaded his captors to let him go after two days of captivity by promising to pay them a ransom. He is the former chief executive and chairman of Sears Holdings , the founder of Transformco , and the founder, chairman, and chief executive of ESL Investments.