Jennifer Saba is a columnist covering media, Silicon Valley and Wall Street based in New York. She joined Breakingviews in 2015 from Reuters where she was a correspondent reporting on companies like Fox, News Corp and the New York Times. Jennifer has covered media for more than 15 years in San Francisco and New York. She began her career in advertising. She has a graduate degree in journalism from Stanford University and an undergraduate degree in English from The University of Texas.
The bankrupt retailer’s top owner dragged investors along for over a decade as he kept it alive against the odds. Now although he’s owed some $2.6 bln, he’s no longer in charge and he’ll have to fight with other lenders and the government’s pension guarantor for every dollar.
The retail chain is on the brink of bankruptcy after creditors lost patience. Its fate may follow that of Toys R Us, which is being liquidated. Retail failures are common but not inevitable. Sears might have had a shot if boss Eddie Lampert had grasped the nettle six years ago.
The $900 bln e-commerce giant scrapped a résumé-reviewing computer program after discovering it was prejudiced against women. Algorithms and machine learning hold promise, but are limited by programmers’ own biases. Weeding out such regressive traits requires human intervention.