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A Billionaire’s Sears Fiasco Is Finally Nearing Its End

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21–30 of 108 posts

Re: A Billionaire’s Sears Fiasco Is Finally Nearing Its End

#21
post #8

Earlier quoted context omitted.

Objectivism really is a vacant and pretty incoherent "philosophy." It's no surprise she presented in in the form of tedious novels with wooden characters rather than engaging with actual philosphers. I think its popularity is due to the fact that it tells people what they want to hear, and they can think of themselves as John Galt-esque ubermenschen.

> they can think of themselves as John Galt-esque ubermenschen. Of all the heroes we could encourage people to have, is John Galt really so awful? He's described as bright, hard-working, self-reliant, but also collaborative and supportive of the work of those around him. He's driven and entrepreneurial, but not anti-social. He doesn't come across as anti-government so much as desiring government that isn't kleptocrat…

Agreed. About five years ago I decided to investigate the subject, watched the recent movie and her interviews on the disc. Turns out her more subtle early novels weren't understood, so she increasingly wrote them bonking the reader over the head with the point, ala A.S. The reputation of simplistic paper-thin characters emerges from that. Meh.

Her experience was of the communists taking and breaking everything, one should keep that in mind. She's basically warning about government overreach, something we should all be able to get behind. It's a valid argument until you take it too far and use it as an excuse, like all political arguments.

Re: A Billionaire’s Sears Fiasco Is Finally Nearing Its End

#22
post #2

Hubris and an unshakable belief in Ayn Rand... http://evonomics.com/the-ceo-of-sears-jon-haidt/

I would not call "setting internal structures to fight against each other" an example of free market. A company thinking thats a better strategy and failing and going bust is a great one though.

> "setting internal structures to fight against each other"

This could be its own chapter in a book about how to cripple a thriving business. Right after the chapter on leveraged buyouts. Motorola, among others, eventually succumbed to this business-cancer.

Re: A Billionaire’s Sears Fiasco Is Finally Nearing Its End

#23
post #2

Hubris and an unshakable belief in Ayn Rand... http://evonomics.com/the-ceo-of-sears-jon-haidt/

Rand's legacy fits how she died: penniless and dependent on the institutions she viewed as failures of the human spirit. What a misguided wreak. Too bad she was influential, because much of the idiots stinking up the planet are her ideological children.

Fountainhead was about glorifying a designer, to the ignorance of all else. I found the book incoherent and boring in high school, and today I'm still unable to find utility in its themes.

Re: A Billionaire’s Sears Fiasco Is Finally Nearing Its End

#24

Earlier quoted context omitted.

> they can think of themselves as John Galt-esque ubermenschen. Of all the heroes we could encourage people to have, is John Galt really so awful? He's described as bright, hard-working, self-reliant, but also collaborative and supportive of the work of those around him. He's driven and entrepreneurial, but not anti-social. He doesn't come across as anti-government so much as desiring government that isn't kleptocrat…

Agreed. About five years ago I decided to investigate the subject, watched the recent movie and her interviews on the disc. Turns out her more subtle early novels weren't understood, so she increasingly wrote them bonking the reader over the head with the point, ala A.S. The reputation of simplistic paper-thin characters emerges from that. Meh. Her experience was of the communists taking and breaking everything, one…

The interviews I've seen of her directly contradict some of the things I've heard her acolytes, including Leonard Peikoff, comment, especially in the area of foreign conflict. Like any complex person, some of what she said was brilliant and some of it didn't all add up. Thankfully as other complex people we can debate, engage, and take from it that which has merit.

Re: A Billionaire’s Sears Fiasco Is Finally Nearing Its End

#25
post #16

Earlier quoted context omitted.

As much as I might disagree with Rand, I certainly agree with your insight. The financial leeches of Lampert's ilk would most certainly be the villain in her novels ("Lampert was the kind always ready to profit from the work of others, without doing any of the work himself..."), and not the hero.

Financial leech? Are you arguing that without Lampert Sears would be a thriving business today?

Not OP, but yes, Sears would be a LOT better off without Lampert's engineering -- starting with his leaving a $billion in the company instead of siphoning it off to his hedge fund [1].

Lampert has done virtually everything to make the company fail, from employer actions that drove away anyone good, to screwing suppliers so that he now has no inventory, to letting the actual stores look like dingy, deserted, wastelands, so no one wants to shop there.

Even in the age of Amazon, many brick&mortar stores are actually learning to thrive, including BestBuy and Walmart. Sears has a corporate history of being Amazon 100 years before Amazon -- they sold everything by its famous catalog, up to and including houses. Of course, much of that institutional memory has faded, but it still arguably could have been leveraged to help it thrive today.

I have zero doubt that if it had been run recently by someone who knows and cares about great merchandising and service, it would be thriving, instead of dying by being run by a financial 'engineer' bent on using it as chop-shop fodder.

[1] https://www.bloomberg.com/news/articles/2018-09-27/lampert-s...

Re: A Billionaire’s Sears Fiasco Is Finally Nearing Its End

#26
post #2

Hubris and an unshakable belief in Ayn Rand... http://evonomics.com/the-ceo-of-sears-jon-haidt/

Rand's legacy fits how she died: penniless and dependent on the institutions she viewed as failures of the human spirit. What a misguided wreak. Too bad she was influential, because much of the idiots stinking up the planet are her ideological children.

> penniless and dependent on the institutions she viewed as failures of the human spirit.

Link?

She died in her Manhattan apartment [1], not some government funded facility. And colleague Leonard Peikoff [2] was heir to her estate, including the copyrights and royalties on her works.

[1] http://www.literarymanhattan.org/place/ayn-rands-apartment-2...

[2] https://en.wikipedia.org/wiki/Leonard_Peikoff

Re: A Billionaire’s Sears Fiasco Is Finally Nearing Its End

#27
post #13

Earlier quoted context omitted.

its not super clear who is making and losing money in this saga

Somehow both for Lampert

I suspect Lampert the Sears CEO is losing money, Lampert the hedge fund manager is making it via a slo-mo takeover of Sears assets from other Sears shareholders.

Re: A Billionaire’s Sears Fiasco Is Finally Nearing Its End

#28

One of the most amazing "secret" benefits at Sears is their "Shop Your Way" loyalty program with Uber. Basically since last fall, every Uber Ride or Uber Eats purchase gives you $2-$4 cash back to use at Sears/Kmart online no matter the cost if you linked your accounts. Given my average Uber Pool is around $5, I've basically been getting 40% off all my Uber Pools for almost a year. It will be missed!

Dang. They should have advertised that more. That's a good idea.

Re: A Billionaire’s Sears Fiasco Is Finally Nearing Its End

#30
post #2

Hubris and an unshakable belief in Ayn Rand... http://evonomics.com/the-ceo-of-sears-jon-haidt/

I would not call "setting internal structures to fight against each other" an example of free market. A company thinking thats a better strategy and failing and going bust is a great one though.

The funny thing is that is literally how dictatorships are often run to try not to get ousted.
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