Eddie Lampert’s ESL Facing Redemptions

CNBC’s David Faber discusses a 13D filing from Eddie Lampert.

Full video and text below:

we have breaking news from david faber. i’ll continue to follow up, simon, on the story that we first brought to you this morning about a 13d filing from eddie lampert, somebody we’ve been paying close attention to last week from the warnings fromsears. buried into that filing is the notes that indicate or say thatthe auto zone sales or essentially distributions of the stocks to lps in his funds. and, and, therefore, meeting some redemption in those funds. something that i’m told he has been doing for a couple of years before he pointed out that auto zone in terms of the percentage ownership by esl and the associated funds declined markingly of the last year, much in the way of continuing the pace. some in part due to their asking to be redeemed. you can, in fact, redeem it’s not just catch, but in the funds itself. so i did want to point that out. i’ve been looking forclarification on that since we first brought this to you since about 9:00 a.m. this morning. so it’s a harvesting. the stocks have done well. it is, in fact, the winners the it is, in part, due toreception, something we’ve wondered about at dsl. all right.coming up next, looking well beyond our borders in 2012.

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