Hedge Funds

Lampert gets tough with Bob Vila


ESL Investments' Eddie Lampert is a no-nonsense kind of value investor. But the hedge fund manager who engineered the merger of Sears and Kmart may have pushed too far with his frugality this time. Lampert, who serves as chairman of Sears, terminated a contract with Bob Vila, according to Kmart spokesman. Vila, the host of TV's This Old House, has since sued Sears for $14 million in damages. PG