SHLDQ - Sears Holdings: The Underfunded Pension Is An Asset Not A Liability
The pension is the largest unsecured individual debt in the Sears Holdings (SHLDQ) bankruptcy. The pension was currently underfunded by roughly $1.5 Billion. The PBGC in Doc 2002 has objected to the sale of "substantially all" of the assets of Sears Holdings to Transform Holdco, an entity formed by Eddie Lampert. In his Blog, Mr. Lampert reminded us that roughly $4.5 Billion had been contributed to the Pension plans since 2005; this is never mentioned in articles that bash him for the decline of the size of Sears.
A couple of weeks ago, the Pension