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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2 many 2 wrote:drsteve wrote:
Vulture capitalism at work. Sears has been sucked dry by its own CEO, whose hedge fund bought the company in 2005, for his own financial gain.
Clicky
That is sick!
I feel it necessary to bring some reality of the market and some facts to this discussion.
Sears decline is not due to "Vulture Capitalism" or Buying K Mart or other popular canards.
It is very simple. They could have been Amazon and didnt do it.
In 1897 with the first Sears catalog America got it's first taste of ordering virtually anything and having it delivered to your door.
Two things made this possible: The advent of the National Railroad system and Rural free delivery by the post office in 1896.
Sears ended it's catalog, abandoned the analog version of what Amazon is, way too early, dooming them to being able to see where commerce was really going.
Had they kept their catalog longer and if the CEO's were actually doing what CEO's are supposed to do and that is think about the company 10 years from now and position it to thrive in the future they would have turned the catalog into ONLINE Amazon like store and may have very well avoided their run of troubles for the past twenty years.
Nothing was stopping them from being the dominant online/in store retailer in America except the right talent at the top.
So while I hate to see Sears go as it is a part of American history I undeerstand why it is going.
Further I would say that the bad service, the old, buyer unfriendly stores which are too dark too low ceilings and too oddly arranged are a symptom of the bigger mailaise of poor leadership not the other way around.
As for tools being made in China. This idea that whatever China makes is by definition bad or poor quality is bunk. Much of the Iphone and other Apple products, most UHD and other tv screens are made in China.
If poor quality comes from China it is because the American company who designed the product specs it that way and approves it and passes on the Quality Assurance procedures.
The real blame lies with the American company NOT the Chinese factory who was simply following the engineering specifications and beating out parts.
