Sears Holding Corp’s Board of Directors Address 3rd Quarter Losses

Sears Holding Corp reported today that its net income in this year’s third quarter was a mere $2 million, and that means that its net income plunged $194 million from the same quarter last year, when it was $196 million.  The company doesn’t expect any near-term turnaround.

"We are very disappointed in our performance for the third quarter. We cannot blame our results entirely on the retail and macro-economic environments. We have much on which to improve and are working hard to do so," said Aylwin Lewis, Sears Holdings' CEO and President.

Evidently, the markets shared Mr. Lewis’s disappointment, since the company’s share price tumbled to a 2 ½ year low.  On Thursday, its stock opened at $101.43 and traded at $100.24 at 1:43pm ET on the Nasdaq.

NewsVisual created an IntellectSpace Knowledge Map in order to determine the Directors’ current level of corporate involvement. The Knowledge Map illustrates the level of ties to other companies among the company’s Directors.

As the Knowledge Map reveals, Director Ann N Reese currently has the most business involvement, since she also serves on the boards of Merrill Lynch & Co and Jones Apparel Group. Sears has only two other Directors who serve on the boards of other major corporations:

Executive Vice President and Director William C. Crowley also is a Director of AutoNation, Inc; and Director and CEO/President Aylwin B. Lewis also serves on the board of The Walt Disney Company.

The Directors at Sears may need look at ways to increase the experience and connections of its Board if it hopes to see major performance improvements in 2008.

(Note: the information contained and presented in Knowledge Maps is public information from the Securities and Exchange Commission of the United States of America).

Click here or copy this link into your Internet Explorer browser for an interactive version of this IntellectSpace Knowledge Map: http://nv.intellectspace.com/ispace/GuestMonitor.aspx?id=268a0bb2-9045-401a-a519-a4dd26537748