On Mon, 14 Jan 2008 22:30:07 -0800 (PST), Too_Many_Tools
wrote:
snip
The previous version of this Marke****ch story incorrectly reported
that the company was halting its stock buyback program and that the
stock was trading at an all-time low, rather than a three-year low.
snip
When the stock price data is converted to constant value dollars
using CPI-U data and charted it is enough to make your hair stand
on end. FWIW - this applies to most all stocks and indexes.

Note that in this particular case [Sears] this "conglomerate" was
largely funded by using the K-Mart pension funds when the
bankruptcy successor corporation "K-Mart Holdings Corporation"
bought Sears, and then renamed themselves "Sears Holding
Corporation." Sears Holding Corporation transmogrified into a
hedge fund, albeit without a name change -- see Washington Post,
Risky Side of Sears: Retailer Is Recast As a Hedge Fund, As Sales
and Stores Decline, Chairman Focuses on Investment, March 11,
2007.

We are indeed "living in interesting times."