CNBC reports that former Kmart COO and president Mark Schwartz, who left the company a week before it declared bankruptcy with a $3 million loan he didn’t have to repay, has started a new company appropriately called Fresh Start. The company has bought some 15 c-stores and gas stations in South Dakota and Wyoming.
According to the CNBC report, Schwartz is accomplished at fresh starts…he actually has four bankrupt companies in his past, including Hechinger and Big V Supermarkets.
According to the CNBC report, Schwartz is accomplished at fresh starts…he actually has four bankrupt companies in his past, including Hechinger and Big V Supermarkets.
- KC's View:
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Seems to us that guys like this give entrepreneurism and capitalism a bad name. We’re just glad that he has his own company now, and just hope that outside investors aren’t charmed into putting money into it.
Let it live or die on his own nickel.
Fitzgerald said that “there are no second acts in American lives.” Schwartz has proven him wrong…but perhaps because Fitzgerald hadn’t considered the possibility of a prolonged soap opera in which accountability just doesn’t seem to be an issue.
