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paleotn

(21,352 posts)

63. He's destroying an icon in the process...

Fri Sep 14, 2018, 06:08 PM

Sep 2018

An icon that was never allowed to remake itself. Distance (called online today) commerce? Hell, Sears damn near invented it. There was a time when you could get everything, up to and including a damn house without ever walking into a Sears physical location. Craftsman was the epitome of quality when it came to tools. When my mom and dad needed an appliance, it was automatic....Sears.

Not that prior management didn't have its share of f' ups. The financial acquisitions in the 80's that were a bust. Instead of hiring folks that knew what the hell they were doing in soft lines, they acquired Lands End, destroying that brand. But those missteps pale in comparison to what this jackass has done. The worst being saddling Sears with the dead rhinocerous carcass that is Kmart. A carcass killed long ago by Wally World.

A worse waste of valuable, iconic brands and potential has rarely been seen in retailing history.

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What's killing Sears? Its own retirees, the CEO says [View all] PatrickforO Sep 2018 OP

Of COOOOUUUUUUUUURRRSSSSSSSSSSEEEEEEEEE it is the employees fault Eliot Rosewater Sep 2018 #1

Vulture capitalist says what? Iggo Sep 2018 #2

What he doesn't say is pensions are in lieu of higher wages...employers pay less now, pay more Fred Sanders Sep 2018 #4

I understand. Iggo Sep 2018 #10

Sears cancelled their pension plan in the 90's and went to 401 mikeysnot Sep 2018 #21

Karma, Baby, Karma bucolic_frolic Sep 2018 #3

Excellent analysis. I worked in the junk bond (euphemistically called "High Yield") world for awhile erronis Sep 2018 #23

Capitalism is creation and destruction bucolic_frolic Sep 2018 #28

+1000 Power 2 the People Sep 2018 #5

Sure it is the fault of employees because the employer didn't set the pension funding aside. LiberalFighter Sep 2018 #6

++++ Agree iluvtennis Sep 2018 #40

Didn't Enron invest its pension funds in Enron stock? Employees pension - kaput. keithbvadu2 Sep 2018 #62

Totally agree. As usual, bad management. SharonAnn Sep 2018 #68

Says the guy who is paying himself $7 million a year? louis-t Sep 2018 #7

Sears was perfectly positioned to be Amazon Sedona Sep 2018 #8

THIS BumRushDaShow Sep 2018 #13

We've become much better at tearing down than building in the last 50 years. erronis Sep 2018 #31

My mother used to always talk about the whole idea of BumRushDaShow Sep 2018 #56

going to have to check this out n/t gay texan Sep 2018 #66

Their Seattle warehouse is now Starbucks' corporate headquarters jmowreader Sep 2018 #37

It could have easily made the transition to internet sales. Kaleva Sep 2018 #78

I have a feeling Lampert will get a golden parachute at140 Sep 2018 #9

How about dumping the 1960's marketing strategy, Ed? TheCowsCameHome Sep 2018 #11

Why would he do that, when his whole aim is to strip the company of all its money Nay Sep 2018 #47

Makes Me Think Of Romney Me. Sep 2018 #12

The question should be "Who is killing Sears"? Perseus Sep 2018 #14

You just printed the real answer. Wellstone ruled Sep 2018 #15

Precisely Sherman A1 Sep 2018 #79

One of the longest running PONZI's Wellstone ruled Sep 2018 #80

Always blame the workers. BeckyDem Sep 2018 #16

What hurt Sears was the purchase of failing Kmart/S. S. Kresge INdemo Sep 2018 #17

Not quite jmowreader Sep 2018 #44

yes I would agree with that but with their INdemo Sep 2018 #46

I worked with several very large corporations that didn't think this internet thing was real. erronis Sep 2018 #60

What Sears? I haven't seen a Sears store in a year and a half. sinkingfeeling Sep 2018 #18

We have 2 Sears stores in San Diego ... aggiesal Sep 2018 #55

It is ironic that the company that made their fortune randr Sep 2018 #19

Oh I have lots of stories to tell mikeysnot Sep 2018 #22

I've had that thought numerous times... Johnyawl Sep 2018 #24

Those folks were long gone zipplewrath Sep 2018 #48

Simply put,if you go back enough years SEARS thought they had the World by the ASS... Bengus81 Sep 2018 #53

Cry me a river, you predatory corporate piece of shit pecosbob Sep 2018 #20

What killed Sears? One word only..Walmart. Hey- it's the truth. Don't blame me.,,, Stuart G Sep 2018 #25

This message was self-deleted by its author Mosby Sep 2018 #34

Actually the problem is executive management and shareholder greed compensation. democratisphere Sep 2018 #26

YUP, ... aggiesal Sep 2018 #57

Fuck Eddie Lampert with a Sears Diehard. . . DinahMoeHum Sep 2018 #27

Transition Points... The Conductor Sep 2018 #29

IBM survived the loss of the selectric Mosby Sep 2018 #30

This is a great area of study and I hope you share your research with us. erronis Sep 2018 #38

Yeah, I definitely don't have a high opinion of Welch at all. PatrickforO Sep 2018 #65

The smart ones... The Conductor Sep 2018 #82

Read about Sgent Sep 2018 #84

How many companies were killed by Reagan deregulation? gibraltar72 Sep 2018 #32

This guy is blue-wave Sep 2018 #33

ceos don't short their own companies. unblock Sep 2018 #36

Scum. Those retirees earned their pensions. mn9driver Sep 2018 #35

When the economy was in the toilet, Sears would change the date due... Tikki Sep 2018 #39

This message was self-deleted by its author ailsagirl Sep 2018 #41

Give me a break. Has he been in one of his stores in the last 15-20 years? Neema Sep 2018 #42

The deal with pensions is...employees often take LOWER PAY in return for a pension. Honeycombe8 Sep 2018 #43

f-ing parasite eddie killed sears Locrian Sep 2018 #45

How dare those pensioners bring down a fine institution like Sears/ Kmart !! YOHABLO Sep 2018 #49

Having someone who knows nothing of the retailing business is what killed it. PSPS Sep 2018 #50

Every Sears former employee on a pension owes Eddie a hugeeeee apology for screwing up his Company!! Bengus81 Sep 2018 #51

It's the victim's fault Turbineguy Sep 2018 #52

Then Sears goes down, but the retirees money stays pal. A deal is a deal. nt TeamPooka Sep 2018 #54

The headline SHOULD read: "What's killing Sears? Its own CEO" Initech Sep 2018 #58

Sears is in the situation of many old established companies MichMan Sep 2018 #59

You mean the employees that hired yesterday at the Post Office? Stonepounder Sep 2018 #67

"If in fact Sears does go bankrupt..." other than pension dollars... other benefits such as medical keithbvadu2 Sep 2018 #71

What a bullshitting piece of shit. If I were on Sears' board, Rabrrrrrr Sep 2018 #61

A blast from the past JonLP24 Sep 2018 #75

Thanks! I kind of disappeared for many years (though occasionally looked in) Rabrrrrrr Sep 2018 #81

He's destroying an icon in the process... paleotn Sep 2018 #63

Sounds like Sears thought IsaacBell Sep 2018 #64

Isn't this the Ayn Rand acolyte... Astraea Sep 2018 #69

Yeah, but the people who are hurt are the retirees who are going PatrickforO Sep 2018 #70

i remember an article like that. Kurt V. Sep 2018 #77

Another reason not to trust pension plans.... Adrahil Sep 2018 #72

Grrrr mahina Sep 2018 #73

THAT Is such bull shit Raine Sep 2018 #74

Bad management killed Sears. 2 examples - Vinca Sep 2018 #76

It is their own company crazycatlady Sep 2018 #83

response to patrick O photo drum guy Jan 2019 #85