Mark Cohen, who teaches at Columbia University’s business school in New York, is a former chairman and chief executive officer of Sears Canada. Don’t get him started on Eddie Lampert, the chief executive officer and majority owner of Sears Holdings Corp.
“Sears is slowly and steadily failing at the hands of a ruthless, methodical asset-stripper,” said Cohen, who was dismissed by previous management. “Lampert will come up with some cash every quarter or two to make sure the balance sheet is still viable. It’s a tragedy because Sears is a legacy brand that needed to be and could’ve been repositioned.”