Eddie Lampert Giving Sears a $400M Loan

Sears Holdings Co. is getting a $400 million secured short-term loan from the hedge fund of its chief executive, Eddie Lampert, with real estate as collateral, the company said Monday in a filing with the Securities and Exchange Commission. The loan, half of which was funded Monday and the other half at the end of this month, will come due at the end of this year, though the maturity date can be extended to Feb. 28 as long as there's no event of default.