What's killing Sears? Its own retirees, the CEO says

[Vinca]

76. Bad management killed Sears. 2 examples -

When we were first married back in the early 70's, it was a rite of passage to go to Sears and buy all your first appliances with a Sears credit card. Every month you'd send in a small payment and eventually you owned it all (and built your credit, too). When the appliance needed servicing, you called Sears. When the appliance needed to be replaced, you went to Sears. We bought all kinds of things from Sears. Then, years later, we went in for a washer and dryer and wanted to put them on the Sears card. Sorry, we were told. No more Sears card. So the next time we needed something we decided to shop around. They essentially flushed loyal customers down the crapper. Many years later they must have realized their mistake because we got an offer for a Sears card. Too late. We didn't need it by then. Secondly, they closed all their stores. You can't buy fruit from an empty cart. It probably all goes back to the top and a CEO money grab. Greed destroys everything.