141–150 of 568 posts
Congratulations on driving a company into the ground! Have a golden parachute! https://www.cbsnews.com/news/sears-bankruptcy-court-oks-25-m...
I'll never, ever be able to comprehend this. It sickens me to the core.
Sears died because of Lampert, that's the beginning and end of the story. While they were far from perfect, post-Kmart "acquisition" both the service and stores became garbage and he used Sears as a personal slush fund.
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I get the tone of your post But have you considered that prosperity preaching is the bigger issue here? The idea that “success” = wealth or that they are correlated in any circumstance aside from coincidence, and that other combinations are part of a therefore broken system The reason I bring it up is because its a set of rules exclusive to lower socioeconomic groups, as opposed to a more effective set of rules
Well, for the most part prosperity comes from work. After 40 hours a week of work, each extra 10% of time worked leads to something like 40% extra income. Those that do reach into upper management positions with larger corporations tend to have spent 15 years of 60-hour work weeks. I'm not saying that this is always the case, or that those are even the best priorities to have. But effort, success and wealth are defin…
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Not disputing the CEO is a force of destruction, but ought not some businesses close? What’s the place of Sears in the modern age?
dig into the back story; aside from the public challenges of a traditional brick&mortar retailer, Lampert actively accelerated it's downfall to enormous personal gain. He literally destroyed the business (let the retail stores fall into disrepair) while he sold off it's most valuable assets like the brands and milked it for cash as a major creditor. He is a modern day robber-baron with none of the mystique or cachet…
This stuff always seems to involve hedge funds sucking struggling companies dry until there's nothing left.
It's one of those things that's legal but maybe should be bit less easy to get away with. Deliberately destroying a company for short term gains for investors, sounds a bit fraudulent/dodgy to me at least.
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They are. You need to have a good amount of extra money to afford the membership and the cost of buying 6 months of toilet paper in advance. Those are cheap items that you will need, if you are not poor you probably don't even think about it. However when you are poor it doesn't matter if it is cheaper or not to buy in bulk because you don't have the cash to afford it. (you also are unlikely to have the storage space…
Upper class? It's true that those living in poverty often don't have the means to buy in bulk or pay a Costco membership, but I don't think the designation of "upscale" describes the store either. Many working class and middle class people shop there.
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Upper class? It's true that those living in poverty often don't have the means to buy in bulk or pay a Costco membership, but I don't think the designation of "upscale" describes the store either. Many working class and middle class people shop there.
The poorest people in the US are still upper class. Except for a few homeless who refuse all support services perhaps.
There's relative poverty in the US still. Currency still has relative purchasing power. Saying a person living below the US poverty line should be put in the same class (upper class) as Jeff Bezos seems disingenuous as best.
Congratulations on driving a company into the ground! Have a golden parachute! https://www.cbsnews.com/news/sears-bankruptcy-court-oks-25-m...
Going out of business is a process. It is not some sort of overnight ordeal. Especially not for an organization as large as Sears.
Sears had everything. Global supply chain, check. Top notch distribution operation, check. System and infrastructure to take orders and handling billing, check. Name recognition and established customer base, check. They threw it all away, ending catalog operations in 1993 a year before Amazon.com opened in 1994. They owned part of Prodigy in 1984! Yet somehow thought it was a better move to expand into bigger box re…
Name recognition This can't be understated, and is something a lot of new companies don't understand. If people know your brand and trust your company, they will hand you money. Anecdata: My parents were massive Sears loyalists. When they bought an appliance, my father researched the various GE models, then bought the Kenmore version. When he wanted a video game console, he researched and decided he wanted an Atari 2…
The difference between Walmart and Sears through is that Walmart pushes manufacturers to build the cheapest possible product so their versions are worse rather than better then the manufacturer's own branded products.
disclaimer: I work for Republik.
This is sad for such a well-known brand. I have such fond memories of their Wishbook catalog that came out around the holidays every year. I would flip to the toys section and dream. My grandparents even had a years old Wishbook in our toy box at their house that me and my cousins would look at every time we went over there, Christmas or not. But everything dies. It must. It has to in order to clear the way for somet…
So, it is true we boomers didn't always get everything we wanted.