Free Republic

Sears Holdings reached a roughly $5 billion deal with its chairman, Eddie Lampert, early Wednesday to keep the company, and about 400 stores, in operations, according to people familiar with the situation. The deal came after days of negotiations at the law firm Weil, Gotshal & Manges. Lampert has been trying to buy Sears out of bankruptcy through an affiliate of his hedge fund ESL Investments. The owner of Kmart and Sears had filed for bankruptcy in October, and Lampert's bid was the only one that would have kept it alive. The offer had strong bargaining tools: It could save...

Eddie Lampert not only ran the company; he was also its largest creditor and the guy who sold major Sears assets to … Eddie Lampert.

Sears, the 125-year-old icon, has 24 hours to survive. The employer of more than 68,000 filed for bankruptcy in October. Its last shot at survival is a $4.6 billion proposal put forward by its chairman, Eddie Lampert, to buy the company out of bankruptcy through his hedge fund, ESL Investments. ESL is the only party offering to buy Sears as a whole, people familiar with the situation tell CNBC. Without that bid or another like it, liquidators will break the company up into pieces. But as Lampert stares down a deadline of Dec. 28 to submit his offer, he is...

<p>Hi folks! Eddie Lampert, CEO of Sears Holdings here! I’ve been reliably informed that everyone who’s anyone in conservative America reads MILO, and he has been gracious enough to lend me his column today to send you a simple message — Sears and our other failing brand K-Mart fucking hate you!</p>