Sears. Craftsman, Die Hard, Adios
Sears, the 125-year-old icon, has 24 hours to survive. The employer of more than 68,000 filed for bankruptcy in October. Its last shot at survival is a $4.6 billion proposal put forward by its chai...
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They stupidly bought a failing KMart and that debt destroyed the company. They also ignore the internet until it was far too late just like Toys R Us. If you think about it, Sears was the original major home seller with the Sears catalog.
Someone in a cabin in next-to-nowhere Montana could order out of that catalog and get all sorts of things delivered to their local post office. But they did not see that the net was the modern version of their catalog, slept right thru the internet revolution.
This happens to lots of big companies, I don't know how many of you recall A&P supermarkets. But they missed the move to the Suburbs and the rise of shopping centers (another dead marketing idea) And died because their customers moved away.
As for Black and Decker that's another ruined brand. Their power tools used be high quality, now they are junk and I won't buy one. I have one of their 1/4 drill motors that must be 30 years old. Still runs. One of their current models would be lucky to make it to the Fourth of July next year.
Someone in a cabin in next-to-nowhere Montana could order out of that catalog and get all sorts of things delivered to their local post office. But they did not see that the net was the modern version of their catalog, slept right thru the internet revolution.
This happens to lots of big companies, I don't know how many of you recall A&P supermarkets. But they missed the move to the Suburbs and the rise of shopping centers (another dead marketing idea) And died because their customers moved away.
As for Black and Decker that's another ruined brand. Their power tools used be high quality, now they are junk and I won't buy one. I have one of their 1/4 drill motors that must be 30 years old. Still runs. One of their current models would be lucky to make it to the Fourth of July next year.
