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View photos More (Eddie Lampert's home on Indian Creek Island.Bing Maps) But Lampert's career before Sears' downfall was not without drama. Most notably, on a January evening in 2003, as Lampert was walking to his car from his office in Greenwich, Connecticut, four people grabbed him, shoved him into a rented SUV, and took him to a cheap motel, where he was held captive for 28 hours, according to The Journal . The ever private Lampert has never spoken about the incident publicly. At the time of the kidnapping, Lampert was hammering out the final details of a deal to acquire the discount retailer Kmart out of bankruptcy. Then in 2005, he combined it with Sears to create Sears Holdings in what was, at the time, the largest retail merger ever. ESL, which has long been one of Sears' largest shareholders, now owns about half of the company with Lampert. About a year after the deal to create Sears Holdings closed, Lampert described the company which included more than 3,000 Sears and Kmart stores as a "$55 billion-revenue, 350,000-person startup." "My goal is to see Sears Holdings become a great company whose greatness is sustainable for generations to come," Lampert, then just chairman of the company, told shareholders in a March 2006 letter . He has publicly compared Sears' strategy to Apple's and Microsoft's, and in his most recent letter to shareholders, he said that Sears is trying to meet new customer needs like Uber, Amazon, and Tesla are doing. Sears is facing more scrutiny from Wall Street than those companies, however, because of the sheer fact that it's a retail company, he said. "In an environment where new companies like Uber can raise almost unlimited capital, what are the implications for older companies that are held to a very different standard when it comes to profitability and regulation?" Lampert wrote .
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