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The Sad, But True, Human Story Behind The Dismantling Of Once Iconic Sears
Submitted by Brian Sozzi of Belus Capital Advisors,
Catching up on emails and came across the one below from a now former Kmart employee. It really tugged at me, and it joined the 1000s of other disturbing emails I have received from former and current Sears and Kmart workers over the past six months. Visiting stores and combing through the financials are one thing, but to hear the human toll of decisions made by executives not engaged with the stores except to pick those that need to close due to their lack of action through the years is something else entirely.
A more complete picture has been formed for me as to what’s REALLY happening inside this once iconic national retailer, and the REAL economic trends (not jacked up government GDP figures and retail sales) on the ground across the U.S. four years post-recession, from reading all of this outreach. Friends, say hello to the REAL economy and the REAL story of a disintegrating, once iconic, national retailer Sears.
Outreach
“Hello Mr. Sozzi,
I am a former employee of Sears Holdings/K-Mart. I live in Streator, Illinois and our store was “liquidated” in early 2013. There are a lot of “ironies” affiliated with our particular store closure that I would like to make you aware of.
First, after yearly inventory in 2012, SHC signed a five-year lease at our location, assuring us employees that we would NOT be included in the list of store closures that were going on at the time. We were told that it would stay open for at least the next 3 years because of this lease. Sadly, that was not the case.
On a final note, I don’t want to hear SHC whining about their 250,000 employees that they clearly care NOTHING about. Ask any one of them to recall the last time they got an EARNED pay raise. At my store, there hadn’t been a raise given in over 6 years.
Simply put, you cannot expect productive employees to thrive on part-time/minimum wage. Top that off with the lack of investment on the store level and one would have to agree with you – they’re shooting themselves in the foot.
You are welcome to visit out Facebook page (Goodbye K-Mart 9804) to get a sense of how this has affected not only the former employees, but our community as a whole. In a city of 13,000, K-Mart was a life line for some of us, since there aren’t many options here. There were employees who had been at that location for 20+ years, and were tossed out like garbage.
As for Eddie Lampert, I hope he enjoys his exclusive island mansion and all of the perks that he’s afforded off the backs of people like me. I just hope I can find another job soon because I’m clearly one of the “little people” in his world that would just like to know my light bill will get paid.”
What Happens When a Kmart Store is Dismantled
Source: Goodbye K-Mart 9804 Facebook Page
Voices of those Impacted
Source: Goodbye K-Mart 9804 Facebook Page
»
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Skull & Bones is an organ of the Luciferian Elite and so are they. Point the guillotines in the right direction.
You mean his ranting homophobic, racist, or Jew-baiting comments. Yeah the board really lacks for those kind of stupid posters who manage to pop up on almost every story on here.
Francie wuzn't nuthin' but shit when he wuz here and he ain't nuthin' but shit now that he's gone, and neither are any of his moarnerz.
This is the thing we must differentiate. People like mr Lampert are not business owners or even really business managers. They are as you say leaches. They suck up the productive efforts of everyone who has tried to contribute, leaving a dead and empty shell. They see every business as another financial instrument to be manipulated and used as leverage to deceive and expropriate wealth to their own pockets. They have no job other than the removal of wealth into their own pockets. They have no pride in service or product provided or created. They only live to suck.
but he's a friend of Jim Cramer!
James J. "Jim" Cramer is also a jew.
This is essentially why we'll go backwards. Wealth wasted on silly luxuries of the rich and corrupt. If you earned a billion dollars last year, wouldn't you want to make something? I mean, he could start a new car company or an airline or restaurant chain or software company or something, anything.
The problem is that very few people that think like that ever have a billion dollars. My dad always said he was too busy working to make any money. I'm a lousy businessman after 35 years of trying. Everything I have ever done to specifically make money has failed. My only profits come from pursuit of other ideals that actually make me more "productive" thereby generating profits. I will never have a billion dollars and I'm not sure I would want to. I have always feared that like so many others who would sacrifice so much to have the power "to do good", I would ultimately have forgotten about the good by the time I actually had the power. Power is evil, and we shouldn't want power over anyone, yet we need it so much.
You will have a billion dollars soon enough. Only you can't buy anything with it. A loaf of bread will cost you at least a trillion.
If you knew without a doubt that whatever factory you set up to build would be bankrupted by government regulation, unions, or labor complaints, would YOU bother opening it?
America's glory days are past, nobody wants to do the dirty work any more. Going to be interesting seeing how we handle being the declining British empire for once.
If you knew without a doubt that whatever factory you set up to build would be bankrupted by government regulation, unions, or labor complaints, would YOU bother opening it?
That would explain all those businesses that AREN'T being started. /S
There is always a "barrier to entry." And Government has always been the biggest one. Yet here we are.
Cry me a river. That's just an excuse for people with no ideas. No different than alcoholics who need "just one more drink" and then they'll get their act together.
F that....why would I work, slave, toil, and worry about all the aspects of running a business and the .gov step in and take 60% of my profits? Why. Because there is a greater majority of folks that say they deserve it....nope. I'm going 'Atlas Shrugged' on em.....they can build their own shit, do their own work....i'm just sitting in my day job, doing what I am supposed to do until the SHTF....
These guys are not just leeches, they're hugely destructive. I consulted on a number of huge liquidations (admittedly on the technology side which limited my perspective) but it did seem clear that these blow-in 'financial wizards' destroyed the companies. Whether deliberately or not is hard to say.
Oldwood, you have have just defined a sociopath. Only when the masses are starving in the streets will they wake up and realize that TPTB are sociopaths and have caused all this destruction. Then real change will happen. Sadly, TPTB have so gamed the system that revolution will be very difficult indeed. TPTB have the NSA, IRS, HSA, FBI all on their side to quash any rebellion before it has a chance to take root. It will have to get A LOT worse before it gets better.
This is what every MBA school teaches. There is an entire army of men and women who think this way.
Does it always have to be a half baked conspiracy? Couldn't it be that Crazy Eddie is just incompetent?
Could it be he's BOTH?
He's an incompetent blowhard but Sears has been buffeted by much larger societal forces over the past decade that he didn't grasp but you can say the same for a host of retailer CEOs too.
From Wiki and not surprisingly enough:
Ethnicity Jewish
FREE FRANCIS SAWYER
In death a member of project mayhem HAS a name.
His name is Francis Sawyer.
-or-
Only in death will we have our own names since only in death are we no longer part of the effort. In death we become heroes.
And the crowds yell, "Francis Sawyer."
And the crowds yell, "Francis Sawyer."
And the crowds yell, "Francis Sawyer."
dick cheneys ghost misses francis_sawyer
~~~~
<pours fondue on the curb for our fallen>
lol , good one
To the down voters, you simply prove the truth hurts but there's no denying it.
Create the problem then lament the resultant hate from it.
If you want to know who runs things, find out whom you aren't allowed to criticize.
Youuuuuuu got IT! Which is exactly why I keep pounding the issue. I know full well there are ordinary jewish people who want no part of their extremist counterparts. Just as the radical hijack Islam, Christianity, or any other group. I know full well that those of the jewish faith have made major contributions to society. These are the same people who should be fighting the parasite class from within.
Colonel, what would you have us middle-class Jewish folk do? We're not located in NYC or DC so we can't smack the "parasite class" in the face during synagogue services (assuming they even believe in God and attend services).
I'm a small manufacture that has employed the same half dozen employees for nearly 20 years. I've given them good wages and excellent bonuses (even if it wasn't a good year) because they deserve it. And for my trouble, the Government just raised my UI rates adding further to my overhead costs.
The trouble isn't "The Jews" no matter how many of you want to blame a particular ethnicity/religion/culture. The problem lies with a society that values material wealth and narcissitic behaviour at the expense of individual freedom & responsibility not only to themselves but to others as well.
I don't see an end to this unless we have a true financial collapse and get back to what the Founders envisioned when they the created the U.S.
But don't hold your breath on that happening any time soon.
Thanks Dr. for taking the time to reply. As I already noted it's not the "whole" of any class. I feel for you in your plight against overbearing, over regulating, and over taxing government.
I don't point to the jewish faith as the problem, unless they subscribe to the Talmud train of though, then I have a HUGE problem. Otherwise I believe many of the Jewish faith are over achievers in far too many fields to name. I point out the faith of the "majority" in the financial class to illustrate the damage they're causing their fellow man. When the theft is taking place in the open and unpunished, without the ability to resist (since inflation and devaluation is directly hard to fight), I'll point out the glaring facts. Such as Eric "place" Holder and Obama, open and flagrantly violating the Constitution. Pointing out that fact doesn't make me "racist", no more than pointing out those of Jewish faith makes me antisemitic. However merely tagging someone with those words are designed to automatically discredit the idea being put forth. I'll also point out I don't see any "African American" nations or over representation in any industry causing as much pain to their fellow man, with maybe the exception of Rap music. ;)
You and I both agree that this thing won't resolve itself until there's a reset, both monetarily and politically. I too am not holding my breath.
Know when I make my denunciations about those creating the problem, you are not among them.
So it's "the Jews" but not the Jews. Got it. Oh wait, I lost it. WTF did you just say? It's a tiny group of insiders, most of whom happen to come from the same ethnicity not because of that ethnicity, but more because of their associations and oh yeah, you have to be of that ethnicity to have those associations in the first place. The same allegations were once raised about Freemasons when they held all the power.
Spin it as you wish. You know the truth, but deny it since you play for the team.
As for the Freemasons, I don't see that "label" (as often and proudly stated about being Jewish) put out in the public record. Such as I frequently read "came from a jewish family", "raised Jewish", "Jewish ancestry", etc. When I do, I'll certainly be sure to point it out when it becomes disproportionately represented in government, finance, media, entertainment, and the MIC.
Nice try and good day!
Colonel, we ARE over-achievers whether it be in business, medicine, education, etc. The love of Knowledge and hard work have been instilled in the Jewish people way before the Rotschilds ever showed up. However, we were also supposed to be "a light unto the other nations" i.e. set a good example to encourage others to seek justice and compassion.
Far too many secular Jews have benefited from the cultural amenities of Judaism (family, education, work ethic) without the spiritual ideals that God gave them in order to become "The Chosen People" for others to want to emulate.
Christianity has a wonderful idea: "Hate the sin, but love the sinner." I truly get it, but sometimes it's just plain easier to hate the bastards. As I'm fond of saying, "If I wasn't Jewish, I'd be an anti-semite." ;-)
Thank you Dr. Fight those who poison your legacy.
Very Well Said Mr Doctor
Agreed which is why I upvoted both of you and took the time to fairly reply to the good Dr. I am not blind in my criticism on the issue being discussed.
I hope those of the Jewish faith come to realize I'm not "against" you. Only those who are raping and pillaging my nation (and much of the world). My hate runs deep for those in collusion too, regardless of faith or race.
Dr. Faustus and Coloner Kirk. I believe this subject - the role of the 'good Jews' - to be the single most important issue facing the West today. Yes, I put it as strongly as that. Because there's going to be major blowback at some stage and you need to act quickly.
I've written about it along the lines of the following excerpt.
I wish ..... that the Jewish-American elite didn’t in fact represent the broader Jewish tribe. If so, then it is the responsibility of the broader Jewish tribe to rein in their destructive, anti-white Jewish cousins. Will it do this, or would it rather blame those who understand the nature of the game, and have the temerity to point out the prominent Jewish role in it?
However, what you can do, if you are Jewish and if you are actually sincere, is work within the Jewish community to call off the dogs. You can work with them in a way that we can’t. Next time you are tempted to chastise the goyim, chastise your own instead. Persuade THEM, those who are doing harm, as opposed to US, who are simply pointing out the reality of the situation in a bid to salvage what we can out of the increasing wreckage of our own tribe.
http://irishsavant.blogspot.ie/2013/10/a-message-to-my-friend-josh.html
Well, that makes more sense when put that way.
YEP! Well stated. Same goes for Islam versus the "terrorist" label.
show me a video of anyone in Tel Aviv demonstrating against naming a street after the Rothschilds.........
you people got to start somewhere
~~~
celebrating ''Banksterism'' doesn't make the jews look very good.......
just sayin........
~~~~
No the problem lies with the people who own the fiat printing Fed, the banks, the coroporations, and our Government.
Yes, they secretly conspire, and they want to get rid of the peasants, because they don't want us using their resources.
They worship Lucifer not God. They believe they are gods.
Joseph Stalin's Reply to an Inquiry of the Jewish News Agency in the United States
"In the U.S.S.R. anti-semitism is punishable with the utmost severity of the law as a phenomenon deeply hostile to the Soviet system."
"Under U.S.S.R. law active anti-semites are liable to the death penalty."
Overfed,
are you referring to
Blacks, disabled vets,
and your Mother ?
Francis Sawyer was a hateful prick...
The place is all the better for him being gone...
I miss FS Jew rants....
Fuck you Tyler... Free him you piece of shit.
From Wikipedia...
"Lampert's investment style can best be described as "strip and sell", often focusing on selling properties of retail companies and parting them off rather than investing money into them."
His nickname should be Edward "Lamprey" Lampert.
The cocksucker douchebag blood leech...better!
Anyone remember that he was kidnapped about 10 years ago by two gang bangers. He talked them into letting him go or something. I will not say what they should have done. It might have made a lot of people's lives a lot better.
The fuckers should be out in a couple of years.
Maybe they can go back and finish the job.
Very weird, EB. I tried to give you a green arrow, and when clicked on it, all 84 of the previous ups disappeared. Are we now to be forbidden to use Goldman & Skull & Bones in the same sentence?
EDIT - The up arrows came back, but mine never registered, plus, this was posted twice. Third time today for a dup. The site is acting funny for me today.
dup
Everyone has been hating on Walmart and Kmart for years as they were destroying the small family businesses in their areas. Now, they are the life line for these same communities. What next? It seems to me the only choice is to try and revive the small family businesses, but it will be damn hard and with the heavy boot of government on their back and may prove impossible. Its a damn shame but its not like we didn't see it coming.
Small business was the backbone of the US economy. As small business dies, so does our country.
Walmart will fill the void that Kmart left.
Walmart Supercenter
2415 N Bloomington St
Streator, IL 61364I assume from your user name (Oldwood) that you are old enough to remember the buy American campaigns of the 1970's. "Much of the shift to imports and off-shore production was promoted by the U.S. government, through tax codes, as part of its Cold War foreign policy."
Follow the yellow brick road and it will eventually lead you to Totalitarian Control
"From this perspective, the long vista after Communism leads thru capitalism into a still unexplored world that roust [must?] be safely attained and settled before it can be named."
Revealed – the capitalist network that runs the world
A Clinton/Obama Trip Down Memory Lane With WalMart
Walmart Moves Into the White HouseI worked for two GM dealerships in the 70's and people were freaking out about the Japanese taking over the auto industry. The thing I noticed then as now is that people do not connect the concept of their consumption having any bearing on the viability of their future employment. Our government and corporations have done everything they can to make it as painless as possible to eliminate our jobs. They have marketed while providing cheap loans and open borders to keep our costs of consumption to appear low, while we have eroded the very foundation of our society and its prosperity. Productive employment. Not jobs working for the government or welfare, but jobs making things that other people are actually willing to pay for.
Good post. There hasn't been a single company that has done more to destroy America than Walmart and if you really wanted to 'Free America' you would destroy their 5 data centers in teh US.
America was founded on FAIRNESS.....we lost that a long time ago.
When the rich bastards die and go to hell and they're all crackling and popping like fatback in a deep fryer, I wonder what they'll think then. If there isn't a hell for 'em, we sure will make one.
What a wonderful world to look forward to...no one richer than me. Yeah, lets make everyone poor. And how many people do you employ?
Well said.
ZH is infested by a plethora of clueless attacks on the "rich", by fools who have a cartoon-like understanding of the term.
QUIZ: Which 2004 Cramer article began with the line: "You are going to laugh at what I am about to say" ??
Blue Light Special Or why Kmart—the downscale, beleaguered retailer everyone loves to hate—is the next Berkshire Hathaway.http://nymag.com/nymetro/news/bizfinance/columns/bottomline/9220/
I'd probably laugh at a lot of things Cramer says if I ever listened to him.
cramer, one of the most underrated stand-up comedians of modern time
http://www.youtube.com/watch?v=SmsTb_jmqb4
damn double post
But Cramer siad that Eddie Lampert was the best and he knew what he was doing. You mean he was wrong? Say it isn't so.
Okay, I'll do it: It isn't so!
If that didn't help, take two aspirin and lay down on your bed.
Indeed the douchebag did Doc.....one of many of his asinine "calls" buybuybuy!...idiot
I feel for those who are losing their jobs, but, to the rest of the US......you get what you pay for. ALWAYS!
Next time you buy some crap, don't just think how it benefits YOU!
Actually, the first step is to decide if you really need it at all.
Objectivisim at work. Enjoy the fruits of your labor Mr. Lampert. Just make sure your walk to and from your car is secure http://usatoday30.usatoday.com/money/industries/retail/2004-05-17-kmart-kidnapper_x.htm You put a lot of lazy people out of work.
I disagree, objectivists thrive on actual success, not merely monetary extraction. It's not just about the money but how it is earned. Lampert would be closer to a villian from an objectivist perspective than an ideal.
"...not just about the money but how it is earned."
Too true. In my small biz experience, it was always the freedom to test different ideas that was more important; At least it was to me anyway.
Oh, give it up...if the thing can't make a profit it WILL go out of business. That's WHY people invest money, that's WHY capital is lent, that's WHY risks are taken.
You complain about too-low wages? Well, raise them - and lose even more money...
But if its not making money because you refuse to invest in it, that's ok? Pretty sure there are plenty of business models built on the foundation of well paid workers being more productive and willing to give more to the company to ensure its survival.
Why would anyone invest in a dying business model?
"You complain about too-low wages? Well, raise them - and lose even more money..."
They did that...with Mr Lampert's pay package (to "retain the TALENT" and all that...lol)
Too bad the line-working peons (probably ALL socialist Liberallz) GOT IN HIS BROAD-SHOULDERED WAY...The guy's a mangerial GENIUS I tell ya!!!!!!!
The executives could align their compensation to be more like that of a regular worker. Instead, they undermine these companies by mining the wealth from them. That's what MBAs are taught to do.
Even if you put all the executives on the same pay as the floor staff the business model would still be a failing one. Businesses don't go under "because they pay their executives too much". This is just more socialist, "99% vs. 1%", "rich vs. poor" class warfare stuff.
This may be about Kmart / Sears, but it's true across the entire worker / employer spectrum. Everyone I know that is still working is scraping and bending to kiss their employers ass for one more year, then saying things like above when it's over.
Most people don't understand that western living standards are unsupportable given the dismal productivity of their workforces. If western employees cost $10-15-20/hour to do the same work that can be done elsewhere for $2 or $3, they are NOT PRODUCTIVE.
You can argue all you want about employees "doing their best", "working hard" and "deserving more" but at the end of the day it is the customer - and the resultant profitability of the business - that decides what wages should be.
That $2 per hour cost is the result of zero regulations, dumping waste wherever one wants as well as currency arbitrage.
In the west certain protections were put into place. Like, not washing iPhone screens all day with hexane, no gloves and no ventilation.
China? When one has the shakes so bad from neural degeneration that production drops off, just get another one.
I understand that businesses have to make money, but comparing 3rd world to the west is comparing apples to hand grenades.
pods
Pods for the motherfucking Win
I could not have said it any better--even as a libertarian, I realize that the pollution caused by unregulated dumping of chemicals in the US is still taking its toll 50-100 years after the fact. There were hidden costs to all that profit and nobody likes it that way. The ugly side of business and making money has always been figuring out how to stick someone else with your pollution and labor problems.
The worst pollution I ever saw (even including China) was at the Aerojet plant outside Sacramento in the 1980s... I suspect you know whereof you speak, sir.
I think I'll still buy the exact same quality product produced more cheaply in China or elsewhere if I can. Produce it equally cheaply in the U.S. & I'll buy it. But these characters want to tell consumers what they must buy, how much more they must pay, what they can import over a government border, etc. etc.
Those who agree with your arguments, fail to see the same corporations outsourcing manufacturing, still rely on the American gov and infrastructure: from secure open transport channels/lanes, to legal system to protect their "intellectual properties", good access to solid infrastructure ie sewer/utilities/etc, law enforcement, good roads, etc etc etc, yet they evade taxes and pay ever lower wages to tax payers, who are now fucked. There is more to the cost of a product than labor.
Who the fuck do you propose pay for the above? So far, for the past 20+ years it looks like trillions worth IOUs, yet, the state of the essentials is old and in dire need for more $ to repair/rebuild. Eventually we will loose the last of the advantages we had.
And why? Because those who believe in the Bill of Rights, forget they also have obligations ..... such as paying their share in taxes, paying fair wages so those working for them can in turn support the community which in turn is supporting them!
Bottom line: traitors have been running this country now for just long enough to destroy the achievements of hundreds of millions of others, for the past 200+ years. That is politically and economically! The government is filled with the Nation's enemies, starting with the parasite in the WH and most heading most other agencies. Carter was incompetent. Obama is an outright traitor. He is not alone though.
Y'all realise this is economic warfare china has been waging against the west for decades?
I'll give you some pithy little Sun Tsu quotes:
They pretty much describes China's relationship with America for the last few decades.
Don't blame China....they are only taking advantage of the situation America is giving them.....we are destroying ourselves (with big .gov, taxes, regulations, lobbyist, .fed, etc, etc)......Let me put it to you this way. If you put a $100 bill on your front lawn at night, place a big flashing sign saying the $100 bill is there, do you expect it to be their tomorrow? Doubt it because you allowed (or even wanted) it to happen.
But boy howdy that Eddie Lamprey sure is productive, what with all o' them stores he's a closin'.
He IS!
He's a leech. He isn't producing anything, he simply selling things others produced over the decades - wholesale.
He's a used car salesman.
From the point of view of the debtholders and shareholders, he is PRODUCTIVE.
Your point of view a fine example of what is wrong with America.
Don't those who own the companies have the right to deploy their capital as they see fit? Or are you ordering private individuals to reduce profits and donate more to the hired help?
Sounds kind of authoritarian...
it seems to me that the term "responsible", "reasonable" elude you. Banks paying 1-2% and charging 27-30% is not irresponsible? In the 70's with prime at 14+%, charging anything over 25% was considered "loan sharking" and a crime. Today it seems perfectly fine.
A good Corporate Citizen is not one who mandates its low to mid level employees volunteer their time to local causes, while upper management jerks off while in junkets.
There is a huge difference between building something - ie an industry, corporation, product, etc - vs hustling a buck which is what you are advocating, if not down right ripping off and destroying.
It is elitist mentality like yours that led to the predicament this nation is in, and which will lead to its total destruction and in the process a destabilized world. Clearly your "algo" is missing many components of the full and bigger picture which is capitalism. In my business lexicon, "hired help" earned their wages did not receive "donations". You come across as a real charmer, and one deeply respected by anyone working for/under you [/sarc].
When people have nothing to loose but go after you for whatever you've got, is the time you will regret your selfish mentality.
You clearly forget that while "money goes where it is best treated" so does knowledge, talent, brain power, and productive/hard workers.
From the point of view of the Loyalists, Benedict Arnold was a hero.
From the point of view of slave owners, John Wilkes Booth was a hero.
From the point of view of the bankers, Lee Harvey Oswald was a hero.
From the point of view of Islamic nuts, Osama bin Laden was a hero.
Corporations, just as debt and shareholders have obligations as well as rights. Please see my reply to an earlier post of yours.
Regardless how much you make, sooner rather than later, you will regret having contributed to the current situation. If you think that you AND yours will somehow escape w/o paying the price you are so mistaken. And even if you do, most certainly your next generation will more than pay your share and then some. Look to all former "ruling class" regardless of physical location or time frame, and regardless if private role or from behind government firewalls "ie East European parasites who got nailed during the late 80's in spite of heading secret militias and the military).
The employees are the customers. If they only earn $2 (and taxes and cost of living stays the same) they will cease to be customers or at least spend way less than before.
It's a race to the bottom. People get paid less, they can afford less, companies have to lower their prices and employees get paid even less. Which means they can afford even less.... ad fundum
Except we are talking about local retail employees. There's no way a Chinese in Xuan Zi making $2/hr can serve a customer in Evanston, IL. So, your argument is nonsense.
What is correct is what has been posted above - superior retailers offering better price points, nicer looking stores, and more innovative programs are doing well. And it's not just WalMart and Amazon; regional chains like the Miejer stores in the mid-West have been growing, while Sears, Monkey Ward, and Woolworth's all died. This is how capitalism is supposed to work. Successful companies are always planning their own demise, looking for the new technologies or trends that would kill their existing business. Unsuccessful companies get to a certain size, decide they know everything about everything, and turn up their noses at any new idea. "The interwebs? Oh, pshaw, Harrison, no one is going to buy a (book, tv, grocery, escort) over the intertubes!". And then they die.
Sure, it's not easy for the affected employees, and I'm sure the top execs skimmed what they could before pulling the plug, but in the end, if we had (x) million working in retail in the 1980's, and now we only have 1/2x, that's productivity increasing. And those other 1/2x million SHOULD have been finding new ways to make themselves useful.
Which brings us back to the real problem in the West - the takeover of schools by an anti-work, anti-competitive, morally relativist group, who have completely failed to teach children how to learn (as well as failing them in basic tasks, such as how to read, write, and do 'rithmetic). Instead of churning out thousands of entrepeneurs, buttressed by powerful PC's and the internet, who should be creating hundreds of new companies which would hire many ex-retailers, we turn out kids who want to do minimal work, play video games, and get either a government job, or a government cheque. That's why the Western standard of living is converging with the rest of the world, where they aren't rich enough to be this stupid.
If you want prosperity, the first step is ending government control of education. The path back will be long and hard, but it is the only way for the average Western Joe or Jane to stay ahead of his/her Asian counterparts.
" There's no way a Chinese in Xuan Zi making $2/hr can serve a customer in Evanston, IL."
Why not let the end consumer decide if he want to buy stuff from China or not?
Do you work at being stupid, or does it come naturally? I specifically mentioned RETAIL EMPLOYEES - the people that are there in the store to help you, not the people manufacturing stuff. I have no problem with free trade, if it's in fact free (which, with China, it's not, but that's an entirely different discussion). If you want to buy made in Elbonia stuff, go ahead. My point was no matter how low the wages are in Elbonia, RETAIL EMPLOYEES still have to be hired locally. There is no 'global' market for front-line retail; at least, there won't be until we get virtual Sheldon's everywhere. So your argument about lower Elbonian wages is immaterial, irrelevant, and incompetent.
Amen Frank
You spout some of the most ridiculous nonsense on here. American workers well outpaced almost any industrialized country from the mid-1990s until '08 and yet US labor's share of GDP has declined every year since '01.
IMF strategies being played out on a fractally smaller, town scale.
Same modus opernadi, same result. I went to school in Troy NY, which happens to be near Schenecdaty (sp!) NY, originally boom town, GE world HQ, GE Research, mfg....then wham....in 1995, when I saw it, place was scary.....run down, doughnut eating, cheap coffee sipping, obviously on dole population...
They have it down to a science, the slow impoverishment of humanity....
ori
And what's your alternative? Socialism? Telling people they may not import? Border closings? Immigration control? Telling companies they HAVE TO pay U.S. wages (and go out of business)? Ordering people what to buy and how much to pay? Dictating "minimum wages"?
The warm embrace of slavery. Never having to worry about your future, as it is all written.
You just gave a perfect picture of france!
It's working great for them.
Yipee! we'er all fucked.
You'd have been hard pressed to find a bigger France basher than I, but once they begun displaying some back bone vs the same islamists our gov is kissing the ass of, I begun changing my tune a bit about the french. At least they are patriotic and recognize that, a certain amount of the national infrastructure is used by all, including roads needed even by those who do not drive but do need a road so to receive police/ambulance/garbage service if/when needed, etc etc.
What is being advocated here, will w/o a doubt lead to something none of us will want (well ... maybe those assholes advocating anything that will lead to a constitutional crisis based on which to really finish off America as we know it, and who better suited for that job by none other than "America's Hater in Chief? and his serfs.
One would hope not, but somehow we have to set the bar higher, raise the dialog for what is acceptable and what is not and live by it. And the first component of that is to dismantle the notion that top executive need to make 50X what their regular rank and file employees earn. Also to be dismantled is the cross-pollination of boards of directors and the inner circles that run the whole country. It's no small undertaking.
And yes, a country that doesn't control immigration is a country that is going to cease to exist. Again, standards!
We should not import products made by slave labor. It is unethical.
Minimum wages were always a joke, it's a stupid idea that should be abolished because all it did was set some kind of marker for unions to base their madness off of. Minimum wages never helped the little guy, all it has done is encourage cheating, the hiring of illegals, and lots of other stupid problems.
Crazy Eddie Lampert....His Stock Prices Are Low Low Low!!!!
Dear Sears/Kmart employee
Please accept the fact that you have become obsolete and must cease to exist.
It does about as much good to refute this as it does to refute gravity.
It is, as we are told, a natural phenomena, a simple fact of the science of economics, and well understood by all that the wealthy shall live and those without money must die. This again as we are told is Darwinian and not to be questioned.
Therefore those who control money, decide who gets it and who does not, are our high priests doing the "work of God" so bow down to them and submit or you will be treated accordingly.
By the way...all who are reading this...no matter how much money you think you have...YOU ARE NEXT!!!!
Can anyone explain the different Sears companies on Google Finance?
Sears Holdings Corp(NASDAQ:SHLD) - This company is bleeding to death. Equity is shrinking at an alarming rate.
Sears Canada Inc(TSE:SCC) - This company is slightly profitable but equity is shrinking.
Sears Hometown and Outlet Stores Inc(NASDAQ:SHOS) - This company is profitable and equity is growing.
I will give it a shot, SHLD is the main company that oversees the large mall/brick and mortar stores. Not sure about SCC but would think it is simular to above. SHOS are smaller versions of the big mall stores in medium sized cites. Not much inventory but can get what you need in a day or two.
morgan stanley/ dean witter, allstate ins. all part of the same sick family
Whenever you find something foul happening, more often than not when you peel back the layers; you find the same maggots underneath.
Adolf Hitler
I used to be a commercial real estate broker.....the Kmart rep was the Husband of a Kreske family member..he was a jerk...he didn[t want to work with me as he was soooo much smarter than I was.....so he thought....Walmart Buried him because he was soooooo smart...he made stupid location picks...and it killed him....but he was soooooo smart...this was when they had Builders Square too...they did things cheap and half assed.....not a good long term game plan....they lost...I am quite happy about it..I hope I had some part in it too...although I did buy a lot of Craftsman tools from them...
Craftsman and John Deere used to be iconic brand names people would go to Sears to get, but not any more. Harbor Freight's the place to go.
These days the tools you can get at Home Depot and Lowes are not much more then HF and sometimes the same. All Chinese junk.
Right, so why pay more for Chinese junk than you have to? I have fixed a lot of things with Harbor Freight junk tools. It's hard to make a case for buying quality tools for the most part. I don't like what is going on in China, though. I don't like playing any part in that.
If management would have given one hint of closure, the muppets would have gone on a spree of theft (and perhaps vandalism).
Employment is to earn to provide for your family. Employment is not your family. Go home for that.
Management lied - oh wait, first time that has ever happened.
At my store, there hadn’t been a raise given in over 6 years.
That's pretty much a indication you should GTFO because clearly, the employer did not deem it useful to try and keep its workers.
Why should they "try and keep their workers"?
The business is losing money at THESE wages. There are millions of unemployed overseas AND in the U.S. who would take those jobs.
I was just sayin'... The policitians and their friends indeed want to rob you, but when you get warnings like these, help yourself will ya'...
No private sector job creation, and I'm talking millions here, no recovery. It's 3rd grade math.
all the future closed sears, k marts, best buys, radio shacks, ace hardwares, bookstores, etc. will be a new suburban ghetto burden for decades.
Eh, bulldozers are relatively cheap.
Tractors and shit? That's yesteryear. I use Chinese slaves
meh... stop relying on others to provide work for you.
As much as I fall back on being a cold hearted cynic, and the fact that this is lumped into "schmaltzy" human interest story. The attitude I see from a few of you is to kick them when they are down. They never asked for this, as I didn't over and over and over again. One was in 3 fucking days, it had my head spinning. I was floored asking what did I do wrong for months.
So tone down the act, take a deep breath and stop the bs condescension, I run circles around 75 percent of you, with no effort. So if you don't like it, have a coke and a smile and shut the fuck up.
It's hard out there, cut em a break sometimes.
The cynical "sophisticated world view" punkage runs high on ZH, Mr. Stephan.
Notable exceptions, of course.
It is never good to hear that someone looses a job, but come on now.. Does anyone really not know why these stores are closing? They are closing because they are dinosaurs. They never kept up with the times, styles and needs of the consumer. We are witnessing what happens when you forget how to compete.
It must have been hard work destroying Sears when it was the nations #1 retailer during America's boom era. I mean when some hick merchant in rural Arkansas can force you out of your 1450 foot HQ tower in Chicago you really have to be incompetent
"Hicks" can be damn smart, too.
Routinely moreso than highly educated Metropolitan types from really, really "hip" cities.
True Story: Bought a Kenmore Dishwasher years ago. It was almost top of the line with all the features we wanted, solid adjustable racks, great water spray and cleaning, quiet, energy efficient. The only thing we were concerned about was it had a plastic tub, not stainless steel. But that wasn't a problem because Sears had a FULL (not limited) LIFETIME WARRANTY on the tub against leaks.
7 years later, the tub leaked due to a crack where the bottom heating element was attached to the tub with a stainless steel screw. So I called Sears CS with a warranty claim. Got the runnaround from 3 different reps, the last one a supervisor. Even though Sears acknowledged there was a FULL lifetime warranty on the tub, and the warranty said "should it leak, Sears would replace it "Free of Charge", they wanted me to pay $149 for a service charge to fix it. I said no, because that isn't what the Full Warranty says. That is fraud. My only option was to email their complaint resolution department. So I did. I even offered Sears a way out to reduce their cost. Since the dishwasher was 7 years old, I would have been happy with a $200 pro-rated credit towards a new dishwasher rather than have Sears fix it. No deal. It will cost me $149 for a service charge for Sears to fix their dishwasher even though it had a FULL LIFETIME WARRANTY.
Game on. I filed a complaint with both the California and Illinois Attorney General Offices against Sears. The day after I contacted the CA AG, Sears CALLED ME and the CS rep said "We were notified by our legal department that you filed a complaint with the CA AG office regarding your dishwasher. Sears would like to fix your dishwasher "FREE OF CHARGE". I said great, and set up an appointment.
When the service rep arrived, he knew exactly what the problem was. In fact, he showed me had a complete service bulletin written and on his laptop that outlined the problem. He acknowledged this was a manufacturing defect because they put the heating element for the stainless steel tub in the plastic tub models, causing the plastic tub to fail. So Sears knew all along that this exact issue was happening with this dishwasher. So, parts were ordered (tub and heating element), and a second appointment to install the tub was made.
During the second visit, the service tech basically spent a solid half day stripping down the old dishwasher and putting the old parts on the new tub. When the work was done, I had to sign a contract saying everything was ok. The contract showed the parts cost was something like $460, and the labor cost was I think about $300, all paid by Sears. So the total cost to Sears was more than a new dishwasher. Bottom line, Sears could have saved over $500 had they just agreed to the pro-rated discount I was ok with. But no, they had to try to screw their customer by doing something illegal. The result. Sears not only lost the money, they lost a customer, and this customer has gone out of his way many. many times to tell everyone that is thinking of buying a major item at Sears, what they can expect as far as them standing behind their warranty. The days of Craftsman and their lifetime guarantee are long gone. Is it any wonder Sears/Kmart are teetering on bankruptcy?
And speaking of Arkansas hicks bent on destruction, hell, look at what Bubba Clinton begun (although he did not finish it). He begun the final chapter of the World's #1 Country, now realistically we are #? ?!!!
He is working hard at getting Hillary to finish what he started, but the Kenyan took the task of destruction to a whole 'nother level, and I fear, that there just might not be a 2016. At least in America as we (still) know it.
When Lampert bought Sears, and then Kmart, he made clear his philosophy and vision - he would raid the assets and profit from the real-estate. He never valued retail or the employees. The companies' business was a means to a different end for Lampert.
With the baby boomers retiring, a 4 decade march of ever increasing consumption is now reversing and gathering pace. Mr. Lampert did not act quick enough or maybe overvalued his hand. He received significant "profits" from raiding the financial assets (something CEO Welch was lauded for and Harvard has taught 2 generations of MBAs to do).
Its truly a wonder how unscathed Mr. Lampert and his backers are. Marie Antoinnette lost her head for being so out of touch with society.
+100
Spot the fuck on!!! Lampert not being alone.
The early capitalists, were visionaries, enterprising, ingenious yet responsible builders of what many became to know as America.Some better than others on the social responsibility and by no means flawless, but still builders, and innovators. Just think Ford and many like him. They trained their employees for the jobs needed to be performed.
The likes of Welch were destroyers of empires built by predecessors, and assholes that followed in his foot steps were even worse. A little loyalty to the employee base, and the country, would have gone a long long way, not only in preserving and maintaining what was built for many generations to come, but to avoid the mess that has followed, and which seems is just the 1st inning in a 7 series game, the result of which I fear we know the result already. Will Welch's great grand children have the same opportunity as he did? I doubt it!
We all lost.
Pretty Hate Machine is a great album. Hesitation Marks is not bad either if you dont mind a little bit more EDM as opposed to industrial.
Love the drone! But it should be pulling a banner saying "All is Well" or "This is not a Drone, Trust Us!"
If you like your job, you can keep your job.
From my observation and occassional visits over the years to the odd Kmart in the heart land absolutely fuck all nothing was done in terms of trying to keep up with Walmart in terms of stock, lighting and a well kept premises.
Kmart might as well have put a huge sign out saying "White Trash Shops Here!".
The last one I had the misfortune of patronizing reminded me of the old Soviet Union or Argentina after the first default. Empty shelves, dirty, half the lights burned out and the 'employees' were even worse.
Why the whole thing hasn't been liquidated is a mystery to me as there is no way in hell they have or will make a go of it.
You ever go to www.peopleofwalmart.com ?
That brings the term sub-species to a whole new level.
Now try to picture those fuckers on the loose in times of severe crisis. WTF if eating food off the floor of a Walmart crapper, while on the crapper is not a sign of things to come, nothing is. This site is as good of an argument pro 2A as it gets.
WOWee!!!
Sears shot themselves in the foot when they closed the paint department. I sure do not know what num nut did that. Many people including myself always bought their paint. When buying paint many times you would but tools also.
I was in the store to buy paint about 5 years ago when they told me that they no longer sell paint. I have not stepped a foot in their door since. I mean really who wants to buy clothes at Sears?
We buy kids' clothes there all the time, shoes, too. The Lands End section is decent.
Sears just sold off Land's End.
Well. I bought a new coat on Amazon this winter for about $90. I googled the coat to see if I could find it cheaper.... One of the results was sears for twice the price PLUS sales tax and shipping.... That is why they are going out of business!
What will be interesting to see is if Amazon can get enough of the market share to eventually start raising prices. That's probably what the current price of the stock is based on. It's pretty much dumping goods on the market to put brick and mortars out of business.