Sears Holdings (SHLD +1.6%) is the latest retailer to slash layaway fees and add delivery options as it looks to stay competitive during the holiday season. One new option for customers is the ability to place items on layaway from store kiosks for later delivery to their houses. [View news story]
Here's a great website to start with to find out who made your Kenmore appliance:
Sears Holdings (SHLD +1.6%) is the latest retailer to slash layaway fees and add delivery options as it looks to stay competitive during the holiday season. One new option for customers is the ability to place items on layaway from store kiosks for later delivery to their houses. [View news story]
MSF could you provide a link to that announcement? I'd like to read the details they state. I just hope they're not being like "politicians" in there statements just because the presidential election is around the corner...LOL
Sears Holdings (SHLD +1.6%) is the latest retailer to slash layaway fees and add delivery options as it looks to stay competitive during the holiday season. One new option for customers is the ability to place items on layaway from store kiosks for later delivery to their houses. [View news story]
It's "my business" just as well. If I know there's a recall on GE products, I want to make damn sure I'm not buying the same product only with the Kenmore name stamped on it.
Sears Holdings (SHLD +1.6%) is the latest retailer to slash layaway fees and add delivery options as it looks to stay competitive during the holiday season. One new option for customers is the ability to place items on layaway from store kiosks for later delivery to their houses. [View news story]
Actually Sears doesn't make any of their own appliances. Upwards of 60 different major manufactureres do. A salesclerk told me that about 80% are made by three major companies. Along with Whirlpool and Frigidaire, GE is among those three. So you never know what you are getting, but what helps Sears is that they can advertise that they carry every major brand. Plus, like you and most of the general public, Kenmore has gotten the reputation of being its own brand and manufacturer, when in reality it's just made for them, but that's a good thing.
If I were Lampert, I wouldn't want to lose control of those brands Kenmore, Diehard, or Craftsman. They've become a staple in the minds of the American public. Sears and Kmart might die, but those names still carry a lot of weight, even if there really isn't as much truth in the fact that they are better or not compared to other brands.
Sears Holdings (SHLD +1.6%) is the latest retailer to slash layaway fees and add delivery options as it looks to stay competitive during the holiday season. One new option for customers is the ability to place items on layaway from store kiosks for later delivery to their houses. [View news story]
Well, it's hard to say. There has always been a certain percentage of the public that uses layaway, fee or no fee. Then there are the people who simple buy outright. Sure there are those in the middle or on the fence thinking about doing layaway, but I believe that depends on the products they advertise and at what price point. If it's something you can't get cheaper somewhere else and one doesn't have the money to get the deal, then you'll see an increase in sales. If not, there may not be a significant amount to get them out of their "slump." I still see poor service and not having the right product at the right price in the stores. I believe it all comes down to their ability to get the shoppers back into the stores.
As far as their appliance sales, they need to offer a great deal and match other companies that offer free delivery. Some people I know thought of buying with Sears but was turned off by the $69.99 delivery and $10 haul away fees. Kmarts don't even offer a dedicated service associate in their appliance section anymore (they were all fired over a year ago) and has become mostly a "cash and carry" situation, unless you're willing to call a toll free number to order and set up delivery. They will let you use their store phone, but what kind of "customer service" is that?
Well, keep taking advantage of the stock, which seems to keep doing well in spite of the poor performance in the stores, but this is most likely a "make or break" year for Sears Holdings, at least for the brick and mortar part of the company.
Sears Holdings (SHLD) discloses in a SEC filing (8-K) that it will contribute an extra $203M to its U.S. pension plan in order to offer lump-sum settlements to workers. The company's gross pension obligations totaled $6.1B at the end of its last fiscal year. [View news story]
Doubtful, buyout yes, but they'll probably be offered minimum wage if they want to stay with SHOS. After all, new company, new job, from the view point of the personnel dept. LOL.
Sears Holdings (SHLD) discloses in a SEC filing (8-K) that it will contribute an extra $203M to its U.S. pension plan in order to offer lump-sum settlements to workers. The company's gross pension obligations totaled $6.1B at the end of its last fiscal year. [View news story]
Agreed, he's no "Edward Lewis" (name and initials coincidence?) the "corporate raider" from the movie Pretty Woman who decided that making more money in the short run, wasn't worth the destruction of the workers' lives of the company he was taking over in the movie (Eddie doesn't have a prostitute like Julia Roberts to change him LOL!) Unlike Morse's corporation from the movie, I doubt they'll be a happy ending for the people who work at the Sears Corporation.
Sears Holdings (SHLD) discloses in a SEC filing (8-K) that it will contribute an extra $203M to its U.S. pension plan in order to offer lump-sum settlements to workers. The company's gross pension obligations totaled $6.1B at the end of its last fiscal year. [View news story]
You don't know that. He's done well with the stock and keeping it alive, but the way the actual company has been run, it doesn't appear he really wants the "retail brick and mortar" part of the company to survive. Just look at the stats of the stores. I'm not saying he's not making money for himself and his investors (some of us included), but there's an "end game" that, and I'll admit I'm not sure what that is (but I have some ideas), probably won't benefit many of the people working in his Kmart and Sears stores.
It's possible that if he hadn't tried to save both companies, one may have flourished, but from what I see of what is going on in the stores, they both may well go under. I'm not necessarily agreeing or disagreeing with you, but only time will tell.
"Cut the waste?"... Yes, as usual someone with a degree in Economics from Yale, who worked on Wall Street at Goldman Sachs, swooped in like a "corporate raider" when Kmart was in bankruptcy, sold off 600 Kmart stores, some sitting on valuable real estate and were profitable, only to use the money to buy Sears which was having its' own problems, decided that firing up to 10 full-time employees last February in each of their stores (one was a good friend of mine and long time dedicated employee), leaving mostly part-time employees, was the best way to "cut the waste."
And now he wants to equip employees with expensive I-Pads to help do their job, which is near impossible to do because there is not enough actual people to take care of the core responsibilities like stocking shelves and helping customers. I believe "remodel" is at the bottom of the "to-do" list.
Actually, I'd say he knows him better personally than you do since he worked for him, and probably seen him come and go and converse with his management team, if not with him personally. All you really know is how well he does in the stock market, which is fantastic, and most likely ride his coat tails by investing in what guys like him do, but I'd say a person who graduated from Yale, got a job with Goldman Sachs after graduation, and left after Richard Rainwater (another great investor), gave him 28 million dollars to start his own investment firm ESL, and recommended investors to him, has somewhat of an advantage in making more money. It's the "old boys club" of "the rich getting richer, while the poor become poorer" or should I say the people who work for him according to Greg1960's comments. Question... have you made your 8 billion dollars yet since you know Eddie so well?
Details from the Sears Hometown and Outlet Stores (SHOS) S-1: The new company will operate 944 Sears Hometown Stores, 96 Sears Hardware Stores, and 76 Sears Home Appliance Showrooms. Sales for the units during FY11 were $2.34B, nearly unchanged from FY10. Same-store sales during Q1 rose 0.1% Y/Y. The licensing rights to the Kenmore, Craftsman, and Diehard brands will be purchased from Sears Holdings (SHLD). ESL Investments will own 62% of SHOS after the rights offerings [View news story]
It's all about control. As long as he has controlling interest, he gets to call the shots. Plus, even though Berkowitz won't admit to talking to Lampert, most likely there is some kind of "pr" going on there, or he knows what he would do if he was Lampert and sees what money can be made. In the end, if the company goes private those "famous" investors will all still make money off their shares.
I'm not against making money, but I'm just tired of it being done on the backs of workers who hope management is telling them the truth about corporate trying to save the retail side, and it turns out it's not. I suppose I'm just the minority, but I've been there and know what it feels like, and I still know people who are.
Sears Holdings (SHLD) CEO Eddie Lampert purchased ~2.4M shares at $52.75 earlier this week, according to a SEC filing. While bulls continue to show their unflappable faith in the Eddie Plan for Sears, shares are still feeling the sting from getting booted from the S&P 500 Index. [View news story]
When Eddie says "jump" everyone asks "how high" ... what a master magician. Although, I admit people will make money from all these "games" being played in the stock market, but buyer beware, eventually the curtain may be pulled back to reveal the real "Oz."
Bruce Berkowitz's Fairholme Fund presents a detailed thesis on Sears Holdings (SHLD) that paints a rosy scenario for investors with high-value real estate and increasing retail efficiencies still sitting as untapped potential. According to the case study, the company's disparate business lines aren't a disadvantage at all, but a source of liquidity and levers to drive long-term value. (SHLD presentation .pdf) [View news story]
Here's a few articles relating to what I said about Silicon Valley and Chinese execs. I don't really feel Silicon Valley will be replaced (the weather and living in California is too great - lol), but, if you're in tech stocks, be aware of a very competitive future.
Sometimes it is true that "the bigger you are, the harder you fall." After all, wasn't Kmart and Sears the "kings of retail" before Walmart and Target came around? Never fall asleep at the wheel while your competitors are pulling up behind you.
Bruce Berkowitz's Fairholme Fund presents a detailed thesis on Sears Holdings (SHLD) that paints a rosy scenario for investors with high-value real estate and increasing retail efficiencies still sitting as untapped potential. According to the case study, the company's disparate business lines aren't a disadvantage at all, but a source of liquidity and levers to drive long-term value. (SHLD presentation .pdf) [View news story]
I'm sorry to inform you but this is not how capitalism has worked for 200 years in the west. This country was founded by leaders "by the people, for the people" not for people who have a "King George mentality" that want all the money to go back to one person just to let the other people starve or suffer for their hard work.
We started industries that supported the middle class, not ones that systematically killed it off. Why do you think China has far surpassed us in manufacturing? And before you say it, it's not just about cheap labor. It's not the only factor as to why this has happened, but that's too long a story to get into in this forum.
The average Chinese CEO makes a fourth of an American CEO, as well. If the "trickle down" approach actually still worked, many of our people would still be spending money on American made products and our industries would still be thriving. We've allowed too much of a gap between the people who run these companies and the people who work in them.
If we're not careful, the next couple of decades will be crucial as to what happens to American. So far we've been able to recruit a lot of talent from other countries, but our educational system is just not doing the job as it used to. The days of Bill Gates and Steve Jobs starting a company out of a garage, and making a fortune may not be possible in the direction we are going. I've even heard that a "Silicon Valley" like place will soon be in China. Again, something that would take too long to go into.
Sorry, I've gotten a little off the topic, but getting back to your response, I find your last two statements offensive to the American working class.
Your statements:
"Sears didn't invent the layoff. This happens all of the time in corporate America. The "employees" knew what they were getting into when they signed the employee agreements.
If you don't want the risk of getting laid off then don't work for a major corporation. Become a farmer or other small businessperson instead."
Unquote:
One, they didn't "invent the layoff," but they don't have to perpetuate it either. It has become line one, page one of defense in the corporate world playbook. Heck, let's just fire most everyone and leave the remaining to work twice as hard at minimum wage to keep our company going. That'll make the company produce profits and efficiency. I guess you need a Harvard degree in business to come up with that one. lol
Two, they didn't "know what they were getting into," because everyone accepts a job expecting that if they do their job well they will have a job in the future. "Agreements" are made by lawyers and corporate so people can be let go "at will." It used to be you had to have a good reason to fire someone, now you can just say "adios amigo," and hire a younger person at half the wage.
Three, not everyone can "become a farmer or other small businessperson instead." If that was the case these large corporations wouldn't exist. They need these people doing those jobs. I'm not sure what kind of logic you use, but that makes no sense at all. We all need certain people doing certain jobs to make it all work. Not everyone can open a business or become a farmer.
The 2008 crisis was just a warning. If we're not careful, something worse will happen in the future.
Bruce Berkowitz's Fairholme Fund presents a detailed thesis on Sears Holdings (SHLD) that paints a rosy scenario for investors with high-value real estate and increasing retail efficiencies still sitting as untapped potential. According to the case study, the company's disparate business lines aren't a disadvantage at all, but a source of liquidity and levers to drive long-term value. (SHLD presentation .pdf) [View news story]
Yes, smoke and mirrors. You have to look at the whole history of Kmart and Sears. The CEO's of Kmart have been "stealing" from their employees for years. Especially Floyd Hall and Charles Conaway who started a chain of events that lead Kmart into bankruptcy. Flying around the country in their corporate jets, extravagant vacations, outrageous yearly bonuses, and misleading investors that all is well while not paying their employees a decent living rage or giving raises for years. Go into a Kmart or Sears store and ask how much these people are paid or when their last raise was and how much. Most are embarrassed to answer.
Eddie Lampert is a smart man. He bought into Kmart pennies on the dollar after the bankruptcy and used the money from Kmart real estate he sold, which, by the way, was way undervalued during the bankruptcy, to purchase Sears and renamed the company Sears Holdings Corp. Yes, you can say he helped Sears "survive the financial crisis of 2008" but there wouldn't have been a "crisis" in the first place if these people didn't run their companies into the ground. I haven't seen much change in the Kmart or Sears stores that is making customers come back to shop. As a lot of investors are saying, it's all about the real estate and not "so this organization can survive and thrive long-term," at least not as a retail company with over 200,000 hard working employees.
Also, why does firing a majority of your work force always have to be the first line of attack in "cost cutting" measures? I see so many places where cost cutting could begin, but never does. Suggestions are never asked from the people who work at these stores. Usually they are the last to know or asked about in any of these decisions.
I've talked to some of these employees at Kmart and Sears stores and asked them why it seems so dismal in their store. Off the record they'll tell you management has no respect for them, and hasn't a clue as to how to motivate or bring up moral. Instead of starting at the bottom firing people they should start in the middle. Most of these people working at the bottom would do anything to keep their jobs, but if you're treated like crap, then that's all you're going to get is crap.
As far as your statement, "this type of "corporatism" creates much more wealth and prosperity than business as usual ever has." I'm a little confused, this is "business as usual."
Sears Holdings (SHLD +1.6%) is the latest retailer to slash layaway fees and add delivery options as it looks to stay competitive during the holiday season. One new option for customers is the ability to place items on layaway from store kiosks for later delivery to their houses. [View news story]
http://bit.ly/PmhmVA
Sears Holdings (SHLD +1.6%) is the latest retailer to slash layaway fees and add delivery options as it looks to stay competitive during the holiday season. One new option for customers is the ability to place items on layaway from store kiosks for later delivery to their houses. [View news story]
Sears Holdings (SHLD +1.6%) is the latest retailer to slash layaway fees and add delivery options as it looks to stay competitive during the holiday season. One new option for customers is the ability to place items on layaway from store kiosks for later delivery to their houses. [View news story]
Sears Holdings (SHLD +1.6%) is the latest retailer to slash layaway fees and add delivery options as it looks to stay competitive during the holiday season. One new option for customers is the ability to place items on layaway from store kiosks for later delivery to their houses. [View news story]
If I were Lampert, I wouldn't want to lose control of those brands Kenmore, Diehard, or Craftsman. They've become a staple in the minds of the American public. Sears and Kmart might die, but those names still carry a lot of weight, even if there really isn't as much truth in the fact that they are better or not compared to other brands.
Sears Holdings (SHLD +1.6%) is the latest retailer to slash layaway fees and add delivery options as it looks to stay competitive during the holiday season. One new option for customers is the ability to place items on layaway from store kiosks for later delivery to their houses. [View news story]
As far as their appliance sales, they need to offer a great deal and match other companies that offer free delivery. Some people I know thought of buying with Sears but was turned off by the $69.99 delivery and $10 haul away fees. Kmarts don't even offer a dedicated service associate in their appliance section anymore (they were all fired over a year ago) and has become mostly a "cash and carry" situation, unless you're willing to call a toll free number to order and set up delivery. They will let you use their store phone, but what kind of "customer service" is that?
Well, keep taking advantage of the stock, which seems to keep doing well in spite of the poor performance in the stores, but this is most likely a "make or break" year for Sears Holdings, at least for the brick and mortar part of the company.
Sears Holdings (SHLD) discloses in a SEC filing (8-K) that it will contribute an extra $203M to its U.S. pension plan in order to offer lump-sum settlements to workers. The company's gross pension obligations totaled $6.1B at the end of its last fiscal year. [View news story]
Sears Holdings (SHLD) discloses in a SEC filing (8-K) that it will contribute an extra $203M to its U.S. pension plan in order to offer lump-sum settlements to workers. The company's gross pension obligations totaled $6.1B at the end of its last fiscal year. [View news story]
Sears Holdings (SHLD) discloses in a SEC filing (8-K) that it will contribute an extra $203M to its U.S. pension plan in order to offer lump-sum settlements to workers. The company's gross pension obligations totaled $6.1B at the end of its last fiscal year. [View news story]
It's possible that if he hadn't tried to save both companies, one may have flourished, but from what I see of what is going on in the stores, they both may well go under. I'm not necessarily agreeing or disagreeing with you, but only time will tell.
Sears Spinning Off Sears [View article]
And now he wants to equip employees with expensive I-Pads to help do their job, which is near impossible to do because there is not enough actual people to take care of the core responsibilities like stocking shelves and helping customers. I believe "remodel" is at the bottom of the "to-do" list.
Sears Spinning Off Sears [View article]
Details from the Sears Hometown and Outlet Stores (SHOS) S-1: The new company will operate 944 Sears Hometown Stores, 96 Sears Hardware Stores, and 76 Sears Home Appliance Showrooms. Sales for the units during FY11 were $2.34B, nearly unchanged from FY10. Same-store sales during Q1 rose 0.1% Y/Y. The licensing rights to the Kenmore, Craftsman, and Diehard brands will be purchased from Sears Holdings (SHLD). ESL Investments will own 62% of SHOS after the rights offerings [View news story]
I'm not against making money, but I'm just tired of it being done on the backs of workers who hope management is telling them the truth about corporate trying to save the retail side, and it turns out it's not. I suppose I'm just the minority, but I've been there and know what it feels like, and I still know people who are.
Sears Holdings (SHLD) CEO Eddie Lampert purchased ~2.4M shares at $52.75 earlier this week, according to a SEC filing. While bulls continue to show their unflappable faith in the Eddie Plan for Sears, shares are still feeling the sting from getting booted from the S&P 500 Index. [View news story]
Bruce Berkowitz's Fairholme Fund presents a detailed thesis on Sears Holdings (SHLD) that paints a rosy scenario for investors with high-value real estate and increasing retail efficiencies still sitting as untapped potential. According to the case study, the company's disparate business lines aren't a disadvantage at all, but a source of liquidity and levers to drive long-term value. (SHLD presentation .pdf) [View news story]
Sometimes it is true that "the bigger you are, the harder you fall." After all, wasn't Kmart and Sears the "kings of retail" before Walmart and Target came around? Never fall asleep at the wheel while your competitors are pulling up behind you.
http://bit.ly/Rs5KBe
http://tcrn.ch/Rs5KBh
http://cnet.co/Qd2Wk1
Bruce Berkowitz's Fairholme Fund presents a detailed thesis on Sears Holdings (SHLD) that paints a rosy scenario for investors with high-value real estate and increasing retail efficiencies still sitting as untapped potential. According to the case study, the company's disparate business lines aren't a disadvantage at all, but a source of liquidity and levers to drive long-term value. (SHLD presentation .pdf) [View news story]
We started industries that supported the middle class, not ones that systematically killed it off. Why do you think China has far surpassed us in manufacturing? And before you say it, it's not just about cheap labor. It's not the only factor as to why this has happened, but that's too long a story to get into in this forum.
The average Chinese CEO makes a fourth of an American CEO, as well. If the "trickle down" approach actually still worked, many of our people would still be spending money on American made products and our industries would still be thriving. We've allowed too much of a gap between the people who run these companies and the people who work in them.
If we're not careful, the next couple of decades will be crucial as to what happens to American. So far we've been able to recruit a lot of talent from other countries, but our educational system is just not doing the job as it used to. The days of Bill Gates and Steve Jobs starting a company out of a garage, and making a fortune may not be possible in the direction we are going. I've even heard that a "Silicon Valley" like place will soon be in China. Again, something that would take too long to go into.
Sorry, I've gotten a little off the topic, but getting back to your response, I find your last two statements offensive to the American working class.
Your statements:
"Sears didn't invent the layoff. This happens all of the time in corporate America. The "employees" knew what they were getting into when they signed the employee agreements.
If you don't want the risk of getting laid off then don't work for a major corporation. Become a farmer or other small businessperson instead."
Unquote:
One, they didn't "invent the layoff," but they don't have to perpetuate it either. It has become line one, page one of defense in the corporate world playbook. Heck, let's just fire most everyone and leave the remaining to work twice as hard at minimum wage to keep our company going. That'll make the company produce profits and efficiency. I guess you need a Harvard degree in business to come up with that one. lol
Two, they didn't "know what they were getting into," because everyone accepts a job expecting that if they do their job well they will have a job in the future. "Agreements" are made by lawyers and corporate so people can be let go "at will." It used to be you had to have a good reason to fire someone, now you can just say "adios amigo," and hire a younger person at half the wage.
Three, not everyone can "become a farmer or other small businessperson instead." If that was the case these large corporations wouldn't exist. They need these people doing those jobs. I'm not sure what kind of logic you use, but that makes no sense at all. We all need certain people doing certain jobs to make it all work. Not everyone can open a business or become a farmer.
The 2008 crisis was just a warning. If we're not careful, something worse will happen in the future.
Bruce Berkowitz's Fairholme Fund presents a detailed thesis on Sears Holdings (SHLD) that paints a rosy scenario for investors with high-value real estate and increasing retail efficiencies still sitting as untapped potential. According to the case study, the company's disparate business lines aren't a disadvantage at all, but a source of liquidity and levers to drive long-term value. (SHLD presentation .pdf) [View news story]
Eddie Lampert is a smart man. He bought into Kmart pennies on the dollar after the bankruptcy and used the money from Kmart real estate he sold, which, by the way, was way undervalued during the bankruptcy, to purchase Sears and renamed the company Sears Holdings Corp. Yes, you can say he helped Sears "survive the financial crisis of 2008" but there wouldn't have been a "crisis" in the first place if these people didn't run their companies into the ground. I haven't seen much change in the Kmart or Sears stores that is making customers come back to shop. As a lot of investors are saying, it's all about the real estate and not "so this organization can survive and thrive long-term," at least not as a retail company with over 200,000 hard working employees.
Also, why does firing a majority of your work force always have to be the first line of attack in "cost cutting" measures? I see so many places where cost cutting could begin, but never does. Suggestions are never asked from the people who work at these stores. Usually they are the last to know or asked about in any of these decisions.
I've talked to some of these employees at Kmart and Sears stores and asked them why it seems so dismal in their store. Off the record they'll tell you management has no respect for them, and hasn't a clue as to how to motivate or bring up moral. Instead of starting at the bottom firing people they should start in the middle. Most of these people working at the bottom would do anything to keep their jobs, but if you're treated like crap, then that's all you're going to get is crap.
As far as your statement, "this type of "corporatism" creates much more wealth and prosperity than business as usual ever has." I'm a little confused, this is "business as usual."