Last year after delivering yet another lackluster quarter for Sears, hedge-fund billionaire Eddie S. Lampert compared himself to Eli Manning at the start of the New York Giants' season last fall.
You Wont Read This On The Greenwich Time Website
WASHINGTON, Dec. 15 /PRNewswire-USNewswire/ -- Two related investment funds will pay civil penalties totaling $800,000 to settle charges that they violated premerger reporting requirements, the Department of Justice announced today.
....a proposed settlement that, if approved by the court, will settle the charges. Under the terms of the settlement, ESL Partners has agreed to pay $525,000, and ZAM Holdings $275,000, in civil penalties.
ESL Partners, based in Greenwich, Conn., and ZAM Holdings, based in New York City, are investment funds with holdings in numerous companies. The investment decisions for both ESL Partners and ZAM Holdings were made by RBS Partners, of Greenwich.
According to the complaint, ESL Partners and ZAM Holdings failed to comply with the antitrust premerger notification requirements of the HSR Act before acquiring voting securities of AutoZone Inc., based in Memphis, Tenn. ....
Source: U.S. Department of Justice
Related Links: http://www.usdoj.gov/
More Eddie Lampert Watch:
America's Worst CEO
Eddie Lampert was chosen as "America's Worst CEO" for 2007 by Herb Greenberg of MarketWatch.
Don't Let Eddie Manage Your Money:
Losses in 2008
Between September 19 and October 24, 2008, Lampert saw his nine largest equity stakes lose $5 billion. The losses were broken down as follows:$3.6 billion from Sears Holdings, $587 million from Auto Nation, $480 million from AutoZone, $174.7 million from Home Depot and $162.4 million from Citigroup.
Getting To Know Eddie:
A Few References:
"The World's Billionaires", Forbes.com (2007-03-08), p. 8.
Berner, Robert (2004-11-22). "The Next Warren Buffett?" (PDF), BusinessWeek, pp. 144-148;152,154. .
Miller, James P. (2007-03-26). "Sears chief won’t run for AutoNation’s board". Chicago Tribune. "SEC filing". AutoZone, Inc. Retrieved on 2007-04-16.
Berner, Robert (2004-11-22). "The Next Warren Buffett?", BusinessWeek.com.
Alexandra Robbins, Secrets of the Tomb: Skull and Bones, the Ivy League, and the Hidden Paths of Power, Little, Brown and Company, 2002, page 180
Martin, Patrick (2005-06-09). "Highest Wall Street pay tops $1 billion a year". Retrieved on 2007-04-14.
"The 400 Richest Americans (Connecticut Rankings)". Forbes.com (2006-09-21).
Forbes: The World's Billionaires editors:Luisa Kroll and Allison Fass (March 8, 2007)
Edward S. Lampert of ESL Investments explains his thinking on the Kmart deal
gurufocus.com: Edward Lampert News
Cramer, James J., Blue-Light Specialist: A conversation with Eddie Lampert, New York magazine (December 6, 2004)
Rosenberg, Yuval, The man behind the deal, CNNMoney.com (November 17, 2004)
Plus There Is The Famous Eddie Lampert Greenwich Kidnapping Story:
It wasn’t the phone call to his wife, the motel bill, or the supposed ransom offer of $5 million that got Eddie Lampert away from his kidnappers… it was the pizza that one of his captors ordered using the billionaire hedge fund manager’s personal credit card.
Most investors dream of amassing fortunes through their investment savvy. But nobody wants to be so talented and wealthy that they become a target for hostage takers. Lampert, the self-made billionaire and founder of ESL Investments - and the man who has outperformed Warren Buffett for 18 years - has this distinction.
Four attackers jumped Lampert on the way to his car at 7:30 p.m. Friday, January 10, 2003. Soon after, he found himself sitting on a motel toilet with his hands and feet bound and his head covered by a cloth hood.
He would remain in this position for the next 39 hours, having his hands released and hood removed only once when his captors gave him some fried chicken to eat.
According to the media’s coverage of the ordeal, Lampert convinced his captors he’d pay them $5 million if they let him go. However, a mistake was made: one of his captors foolishly called in a pizza order using Lampert’s credit card.
Realizing the mistake, Lampert told them their only chance of not getting caught was to simply let him go. After all, he hadn’t seen any of their faces because they were wearing masks. However, if they were caught while he was still a hostage, or worse still, if they harmed him, there would be very serious legal consequences......
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