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Monday, August 23, 2010

08/23/10 It Looks Like Greenwich Billionaire Eddie Lampert Is Sucking Wind .....

FROM THE WALL STREET JOURNAL'S DEAL BREAKER BLOG:

From the mailbag:

Word is there’s some strange stuff going down on Mr. ESL’s watch. Five high up people have left just to go to Bloomberg alone in the past few months. He has in his head what a unit’s numbers should be, and if they come in better or worse he tells the unit head “You’re wrong, that’s not what I think it should be” and micro-manages based on his (false) sense of the numbers. Very strange, not trusting accountants’ numbers, no? Many people there are seriously questioning what’s going on.

Spring is next bonus time and there’s chatter more people have plans to leave then too. Definitely sounding like rats leaving the ship. Five people leaving to go to – Bloomberg? Who leaves a place like that, at this time, if there’s a big future upside? Something is up.


























UPDATE:

READ THE COMMENTS TO THIS BLOG POST

  1. Posted by Anonymous | August 23, 2010 at 11:28 AM

    Bloomberg must be starting a new competitor to KMart. An information supermarket and an actual one…brilliant!

  2. Posted by Anonymous | August 23, 2010 at 11:32 AM

    Kmart sucks!

    -Rain Man

  3. Posted by Jackass Trader | August 23, 2010 at 11:33 AM

    No big deal. Stuff like this happens all the time @ ________.

  4. Posted by Anonymous | August 23, 2010 at 11:46 AM

    I only wear Brioni.

    /Guy with a 5ft anal bead tail

  5. Posted by Anonymous | August 23, 2010 at 12:04 PM

    Why is he standing in the Womans section? And why is his hand down his pants? Can someone send me his contact data?
    Ping

  6. Posted by Anal_yst | August 23, 2010 at 12:04 PM

    High-up people as in back/middle office or 5 high-up people on the investment/front office side?

  7. Posted by Anonymous | August 23, 2010 at 12:20 PM

    If they leave you for UBS, then you really have issues

  8. Posted by Bess Levin | August 23, 2010 at 12:32 PM

    @6 not back/middle office, I don’t particularly think that’d cause people concern…

  9. Posted by CMBS 4-Life | August 23, 2010 at 12:36 PM

    FAS 157 win

  10. Posted by Anonymous | August 23, 2010 at 12:49 PM

    @6 do you really think Bess would post this if it is simply a drawdown of the secretary pool?
    @8 more vitriol please

  11. Posted by Anonymous | August 23, 2010 at 12:51 PM

    This has the violent antics of a certain tavern written all over it.

  12. Posted by Anal_yst | August 23, 2010 at 1:00 PM

    @Bess/8

    As the email said, who leaves a big HF to go to…Bloomberg?

  13. Posted by Anonymous | August 23, 2010 at 1:04 PM

    I once left my firm to go to Hooters – i was back before noon though

  14. Posted by NakedShort | August 23, 2010 at 1:10 PM

    We had an assisant leave one day for lunch and never come back.

  15. Posted by Anonymous | August 23, 2010 at 1:14 PM

    I left Radio Shack for Rebellion Research. God I miss my commission.

  16. Posted by Anonymous | August 23, 2010 at 1:20 PM

    Is there a Kmart/Sears in Greenwich?

  17. Posted by Anonymous | August 23, 2010 at 1:27 PM

    I once left my desk for the shitter, I usually shit my pants

  18. Posted by STAR | August 23, 2010 at 1:37 PM

    I knew this would happen and acted accordingly.

  19. Posted by Mr. Market | August 23, 2010 at 1:50 PM

    These insiders sold short Sears in April, before announcing their exit. Thats why its down over 50%.

  20. Posted by Man on the Street | August 23, 2010 at 2:14 PM

    I left my terminal to go to Sears once. So we’re even?

  21. Posted by Anonymous | August 23, 2010 at 2:23 PM

    This kind of thing happened all the time in Soviet Russia. It was no big deal.

  22. Posted by du2 | August 23, 2010 at 3:23 PM

    Eddie “Bauer” Lampert wishes he could leave, too.

  23. Posted by Anonymous | August 23, 2010 at 3:31 PM

    Did they go to Bloomberg for training? If so, when are they coming back?

  24. Posted by PermaGuest | August 23, 2010 at 3:32 PM

    @12/8 Bloomberg LP presumably has a huge slug of cash on the balance sheet– perhaps there’s an internal unit running that? Can’t think going to start demoing Launchpad functionality or something.

  25. Posted by Anonymous | August 23, 2010 at 3:45 PM

    I left Ping Capital for Club LaBare once

  26. Posted by Launchpad | August 23, 2010 at 7:43 PM

    I wouldn’t wish my worst enemy to join Bloomberg. But these 5 idiots did! I don’t know whether to give them advice on the local pusher (Because they’re going to need it) or tell them it’s not too late to join the local fire department.

    Things must be wasting away in Lampert-Ville.


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