Closing the stores

Discussion in 'Station Wagon Lounge' started by MAK, Jun 4, 2018.

  1. Brad

    Brad Moderator Staff Member Moderator

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    Jeez.....he even looks like a "chock"...
     
  2. Poison_Ivy

    Poison_Ivy Dogzilla Fan

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    There are plenty more to dry. Lampert is just the symptom. The disease is much higher up to be found:



    I used to know a guy who was buying businesses in Sweden, selling the inventory thereafter and then filing bankruptcy on each one. In other words, he was essentially doing the same like Lampert does, by playing the role of a spider which sucks its victim dry and leaves the virtually empty carcass behind. But, at a much smaller scale. It was surprising as to how long he was doing this until the authorities accidently stumbled onto this, after he bought a company which he didn't know was itself conducting shady business practices and was itself under police surveillance
     
    Last edited: Aug 8, 2019
  3. Poison_Ivy

    Poison_Ivy Dogzilla Fan

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  4. Poison_Ivy

    Poison_Ivy Dogzilla Fan

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  5. Silvertwinkiehobo

    Silvertwinkiehobo "Everything that breaks starts with 'F.'"

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    Doing so deprived you of an income stream. I wonder if it would be possible to find lawyer's with enough legal juice to sue Lampert and his cronies, for every dime they sucked out of Sears, as well as the Sears corporate entity, and then take the money and reinvest in Sears, giving the winning lawyers a chunk of new company stock?
     
  6. 60Mercman

    60Mercman Well-Known Member

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    Sadly they probably sold that stock through 10 different LLC’s, and a half dozen S Corps. That guy at the end of that chain is a deeper down dig than China.
     
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  7. ross

    ross Well-Known Member

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    Sorry to hear that you are losing your business.
    Sears, the company, sucks. They lived off of a good reputation earned a generation ago when they sold decent merchandise and had some ethics. Today, they will do anything to make a buck and care little for their customers or employees.
    A friend's mother was part of a mass lay off at HQ. Those being slaughtered were herded into a large room to sit through a video(a F'ing movie!)presentation telling them they were all fired and escorted out after. Doesn't get much colder than that.
    Their auto stores and home improvement business have been gouging and stealing for decades.
    These cockroaches haven't seen a dime of mine in decades. I feel bad for some of the employees but the company well deserves to die.
     
  8. Doghead

    Doghead Well-Known Member

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    It wasn't Sear's fault. It was the Hedge Fund Carpet Baggers who bled them dry.
    Nowadays, you don't need to corral the sheep into a conference room, in order to show them You're Fired videos. That's what we have "Smart"phones for. It's more of a personal way of doing things
     
  9. MAK

    MAK Well-Known Member

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    To everyone that has responded to this tread
    I worked at Sears for a long time, late 80's to before Kmart merger, they were a GREAT company to work for, products were VERY good - ex Men's best dress shirts were made by R. Lauren Polo for $30, Craftsman's Research and Development staff was the best in the industry, Managed 3 stores from 25million to 70 million, Regional for central US
    and can tell you the manta was 1st and foremost was to create a Compelling place to work, if we achieved that it would always be a compelling place to shop. SO why did I buy 3 Sears franchise stores? Because I believed that a local could delivery and live by those values, but sadly it wasn't enough, the outside forces (Sears pending bankruptcy, elimination of Corp. supported advertising, etc.) we could not offset all of that and in the end it became a HUGE cash drain. so who do I blame - why Eddie Lambert and his henchman of course.

    The old Sears - pre Kmart merger - was a great Company to work for , not easy, results driven, but fair, honest and ALWAYS tried to do the right thing for the right reasons.

    Truly what has happened is sad!!!!
     
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  10. Grizz

    Grizz Are we there yet???

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    And they used to have a life time guarantee for tools!
     
  11. 60Mercman

    60Mercman Well-Known Member

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    So when he sold the 266 best Sears stores, and undervalued their worth by $646 million, then shifted $2billion of the company assets to his own holding company......you’re saying that he stole? I just think he was a bad business man. That guy, and Mnuchin, and everyone that helped facilitate the outright pilfering of that company should be behind bars.
     
  12. moparandfomoco

    moparandfomoco Well-Known Member

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    I wonder if the reason Fast Eddie doesn't declare bankruptcy on the remaining stores is that 1) there would be a run on what's left of the stock making what he has worthless? or 2) the Antitrust/Justice(?) people would come after him because it would be obvious what he's doing is somewhat illegal (?)

    I would like to say that I don't shop in Sears or Kmart anymore - but I can't even do that. We live in an area of about 1 million and there are no stores left. Imagine that. Used to be two big Sears stores and about 6 or so Kmarts. Now nothing.
     
  13. Silvertwinkiehobo

    Silvertwinkiehobo "Everything that breaks starts with 'F.'"

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    I just read something that basically pointed out that everything Eddie Lambert did was almost religious to him, but more like creating a "Lord of the Flies" situation, paring everything down so much that store managers were literally fighting for the meager resources and stock, then trying to get people in to but what little was actually there. If that is true, not only is the SOB a downright crook, he thumps a Holy Book doing it. Truly a dangerously insane man. If I suddenly and inexplicably die or disappear, send the FBI after him.
     
  14. OrthmannJ

    OrthmannJ Always looking for old ford crew cabs

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    I think I have said something along these lines on this thread already, but it's worth saying again:
    It's sad to see what was once a solid American institution such as Sears toppled by greed.
     
  15. Doghead

    Doghead Well-Known Member

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