Reuters reports this morning that hedge funder Eddie Lampert, who just bought Sears Holdings out of bankruptcy for $5.2 billion, has stepped down from his role as the company’s chairman.

According to the story, “Lampert's resignation relates to the completion of the ‘going concern’ transaction and is ‘not the result of any disagreement with the company on any matter relating to the company's operations, policies or practices’.”

KC's View: Considering Lampert’s record, it would be fair to call this addition by subtraction.

The problem for Sears is, it seems to be almost incapable of addition by addition … at a time when it needs to be really good at multiplication.