Out Fox The $treet

A recent analyst note compared the slow dismembering of Sears Holdings (NASDAQ: SHLD ) to playing the popular Jenga game. As most people know, Jenga is a game where players take out pieces of a structure hoping that the overall structure doesn’t collapse. The goal is to not be the player that causes the structure to collapse, and in the case of Sears Holdings, you don't want to be more » Disclosure: Long SHLD. Please review the disclaimer page for more details. 

This is the third part of a series on Sears Holdings (SHLD) with the focus of this part on the pending spin-offs of the Sears Hometown and Outlet Stores (SHOS) and Sears Canada (SCC.TO) . One of the opportunities of creating value for the Sears shareholders is to unload some of the assets buried on the balance sheet. How many investors that owned the stock last year even knew about the Orchard Supply Hardware Stores (OSH) stores or these spin-off properties? All of these assets have been buried and under appreciated for a long time. As mentioned, this is the third part of a series. Previously, the first part focused on the highlights of Q2 earnings while the second part focused on the case study prepared by Bruce Berkowitz and Fairholme Funds. Read the full article at Seeking Alpha. Disclosure: Long SHLD. Please review the disclaimer page for more details.