Edward Lampert, chairman of Sears Holding Corp., has spun off a good chunk of his company’s northern cousin, Sears Canada.
Lampert, through a variety of funds, spun off 28.2 million shares of Sears Canada, or 27.6 percent of those outstanding, to Sears Holding shareholders. Sears Holdings shareholders received 0.4283 common shares of the Canadian chain for each Sears share.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"