Portfolio magazine attaches a lot of significance to the fortunes of Eddie Lampert, of Kmart and Sears fame--or infamy. In a long article, Lampert is held up as the archetype of the activist hedge fund manager that aims to rebuild long troubled companies, such as GM, Hilton and Hertz. After Lampert's great success with Kmart, he turned to Sears, where the fruits of his labor have yet to bud. "Once hailed as the Warren Buffett of his generation, Lampert, at 45, now has another turnaround job on his hands: his own reputation." But does his lack of turnaround success carry meaning for the entire crop of hedge fundies-turned-managers. Perhaps not. But the rise and fall and whatever comes next of Lampert is one heck of a story.  

For more:
- here's the Portfolio article

Related:
New CEO for Sears. Article