In my view, these media stories are wonderful contrarian indicators.  The company has $1.4B of cash and a $4B line of credit.  Last quarter, which was far worse than expectations, the company had a loss of $56 million.  That's only about 4% of the cash.  Now the WSJ thinks the company might be bankrupt next year.  The flip side of irrational exuberance is irrational fear, and the commentary surrounding Sears is permeated with the stuff. 

Best,
Oildog