http://stockmarketbeat.com/blog1/2006/08/17/from-our-mouth-to-eddie-lamperts-ears/ Our beat: The stock market. Our job: Beat it. Mon, 01 Dec 2008 22:27:46 +0000 http://wordpress.org/?v=2.2.1 http://stockmarketbeat.com/blog1/2006/08/17/from-our-mouth-to-eddie-lamperts-ears/#comment-1356 yetis Fri, 18 Aug 2006 12:15:37 +0000 http://stockmarketbeat.com/blog1/2006/08/17/from-our-mouth-to-eddie-lamperts-ears/#comment-1356 Finders fee, why? Speculative pros that might run up the price....? I think you might want to look at EL's prior transactions before you pick BJ's as the "target". AN, AZO, retailers EL has targeted in the past. They all had something in common, unloved by the Street, decent story and nice cash flow. On a comparative basis, BJ's is anything but cheap. Further, unlike the AZO and to some degree AN, there is little cash. BJ's has been for sale for ages! That is part of the reason no one has bought BJ's in the past, that and the little fact that there is no where to go with margins. What I think is interesting about EL's comments is the great lengths the comments went to tell the street that whatever they buy, it might not be "directly" related to Sears. Finders fee, why? Speculative pros that might run up the price….? I think you might want to look at EL’s prior transactions before you pick BJ’s as the “target”. AN, AZO, retailers EL has targeted in the past. They all had something in common, unloved by the Street, decent story and nice cash flow. On a comparative basis, BJ’s is anything but cheap. Further, unlike the AZO and to some degree AN, there is little cash. BJ’s has been for sale for ages! That is part of the reason no one has bought BJ’s in the past, that and the little fact that there is no where to go with margins.
What I think is interesting about EL’s comments is the great lengths the comments went to tell the street that whatever they buy, it might not be “directly” related to Sears.

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