The man who broke Sears now wants to fix it

What on Earth is Eddie Lampert thinking?

A dismantled Sears sign.
(Image credit: Illustrated | REUTERS/Mike Segar/File Photo)

You'd think the average vulture capitalist, upon picking a company's carcass clean, would fly off. But not Eddie Lampert.

The hedge fund king's name is well known for the way he ran Sears into Chapter 11. But now that bankruptcy proceedings are underway, Lampert's trying to rescue the company from total liquidation. As of Wednesday, he was offering $5 billion to buy out the other creditors and keep about 425 stores open — along with around 50,000 jobs.

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