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Sears Circling the Drain
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jwold
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PostPosted: Mon Oct 15, 2018 1:18 pm    Post subject: Re: Sears Circling the Drain Reply with quote

I see Craftsman branded tools for sale now at Lowes.
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Volks Wagen
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PostPosted: Mon Oct 15, 2018 1:27 pm    Post subject: Re: Sears Circling the Drain Reply with quote

KTPhil wrote:
True, but the guy has thrown in something like $1.6B to keep it afloat over the years, and expects SOMEthing back for his investment. Can't say I blame him.


Oh well, see how little I know? I suppose he's due something so. However, I like conspiracy theories more than fact. Very Happy
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KTPhil Premium Member
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PostPosted: Mon Oct 15, 2018 2:39 pm    Post subject: Re: Sears Circling the Drain Reply with quote

jwold wrote:
I see Craftsman branded tools for sale now at Lowes.


Well, since OSH had a deal with Craftsman, and Lowes owned OSH, that makes sense. Do they have the same guarantee?

Their online parts and their service centers... will those evaporate? That's key.
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Manfred58sc
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PostPosted: Mon Oct 15, 2018 7:06 pm    Post subject: Re: Sears Circling the Drain Reply with quote

Good riddance, the tools are beyond crappy and the service has evaporated. They can all become seasonal Halloween stores with easy parking for homeless campers.
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PostPosted: Mon Oct 15, 2018 7:47 pm    Post subject: Re: Sears Circling the Drain Reply with quote

Manfred58sc wrote:
Good riddance, the tools are beyond crappy and the service has evaporated. They can all become seasonal Halloween stores with easy parking for homeless campers.


Laughing

last crapsman socket I bought was 10+ years ago. right out of the gate it shattered as if it were made from glass. old school crapsman I could stand on a chrome socked with a 1/2" IR impact and it would last for decades.

use to be a solid company with pretty good tools...now garbage freight sells nicer shit
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PostPosted: Tue Oct 16, 2018 4:17 am    Post subject: Re: Sears Circling the Drain Reply with quote

KTPhil wrote:
True, but the guy has thrown in something like $1.6B to keep it afloat over the years, and expects SOMEthing back for his investment. Can't say I blame him.


Eddie Lambert is the billionaire hedge fund manager who ran Sears further into the ground. He is also it's biggest creditor and he may make a loan to Sears to keep it afloat. He's playing some type of angle. Guys like him don't usually do things like this out of kindness.

https://www.nytimes.com/2018/10/16/opinion/sears-b...ctionfront
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PostPosted: Tue Oct 16, 2018 5:24 pm    Post subject: Re: Sears Circling the Drain Reply with quote

It wasn't that long ago when Bob Vila was hawking Craftsman tools on TV as being American made.

You go into Sears today (assuming you can find one that's still open) and you're hard-pressed to find anything with the Craftsman name that isn't made in China.

Thank you Eddie Lampert...
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sb001
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PostPosted: Tue Oct 16, 2018 7:23 pm    Post subject: Re: Sears Circling the Drain Reply with quote

Otasco, Western Auto, and TG&Y... oh the memories
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PostPosted: Tue Oct 16, 2018 7:55 pm    Post subject: Re: Sears Circling the Drain Reply with quote

Around 1975 my sister had a part time job at Sears. Had benefits and retirement plan, imagine that. Sears sold rebuilt VW engines and parts too.
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67ctbug
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PostPosted: Tue Oct 16, 2018 9:09 pm    Post subject: Re: Sears Circling the Drain Reply with quote

Zundfolge1432 wrote:
Around 1975 my sister had a part time job at Sears. Had benefits and retirement plan, imagine that. Sears sold rebuilt VW engines and parts too.
Yeah they did! I have a catalog from '66 or '67 and there is a page or 2 of parts and accessories. I'll have to post a pic.
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PostPosted: Tue Oct 16, 2018 9:58 pm    Post subject: Re: Sears Circling the Drain Reply with quote

I'd be interested in seeing the 1966 one.
It looks I posted some 1966 pics in the past but no engine page.
I did post the 1966 Judson page:
Image may have been reduced in size. Click image to view fullscreen.


Here's engines from 1970 that I posted a while back:
Image may have been reduced in size. Click image to view fullscreen.

Image may have been reduced in size. Click image to view fullscreen.

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sb001
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PostPosted: Wed Oct 17, 2018 11:51 am    Post subject: Re: Sears Circling the Drain Reply with quote

The sad abandoned Sears standalone store (and auto center) in my hometown of Little Rock

Image may have been reduced in size. Click image to view fullscreen.



Weirdly though, my current residential area of NW Arkansas has two or three of these Sears "Hometown" stores and they seem to be doing just fine:

Image may have been reduced in size. Click image to view fullscreen.

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TDCTDI
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PostPosted: Wed Oct 17, 2018 11:58 am    Post subject: Re: Sears Circling the Drain Reply with quote

sb001 wrote:

Image may have been reduced in size. Click image to view fullscreen.


It's good to see that NC isn't the only state that's subjected to the segment of the population that has more money tied up in tires & wheels than the vehicle that they're supporting. Twisted Evil
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sb001
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PostPosted: Wed Oct 17, 2018 3:38 pm    Post subject: Re: Sears Circling the Drain Reply with quote

TDCTDI wrote:
sb001 wrote:

Image may have been reduced in size. Click image to view fullscreen.


It's good to see that NC isn't the only state that's subjected to the segment of the population that has more money tied up in tires & wheels than the vehicle that they're supporting. Twisted Evil


Very Happy
I'm very proud to hail from the second most dangerous city in the country.
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cbeck
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PostPosted: Wed Oct 17, 2018 4:57 pm    Post subject: Re: Sears Circling the Drain Reply with quote

here is my old sears store.
Image may have been reduced in size. Click image to view fullscreen.

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ach60 Premium Member
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PostPosted: Wed Oct 17, 2018 8:44 pm    Post subject: Re: Sears Circling the Drain Reply with quote

Sears never held any luster for me.
I always view Sears as part of American Rip Off Culture.
A buddy bought a bike from sears back when we were kids,
Pulled it out of the box, aired up the tires and both blew out!
Iíve bought a lot of Craftsman tools in the 70ís & 80ís
But I was surprised to read that one of Sears biggest cost is paying Pensions.
People rally did spend their Careers working for Sears? Holy Cannoli
I found this from CNN:
Turns out Sears was once the nation's largest employer, has an estimated 100,000 retirees still eligible for benefits under the pension plans.
By comparison, the company had only 89,000 employees as of February, and many of them have since left the company because of store closing.
So basically the Bankruptcy is B.S. move Sears Owners to rip off itís Retirees Pensions
American Rip Off Culture.at itís Best.
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sb001
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PostPosted: Thu Oct 18, 2018 1:03 pm    Post subject: Re: Sears Circling the Drain Reply with quote

ach60 wrote:

So basically the Bankruptcy is B.S. move Sears Owners to rip off itís Retirees Pensions
American Rip Off Culture.at itís Best.


Ever since Enron showed other companies what they could get away with...
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PostPosted: Thu Oct 18, 2018 2:10 pm    Post subject: Re: Sears Circling the Drain Reply with quote

sb001 wrote:
ach60 wrote:

So basically the Bankruptcy is B.S. move Sears Owners to rip off itís Retirees Pensions
American Rip Off Culture.at itís Best.


Ever since Enron showed other companies what they could get away with...


Actually youíd have to go back to about 1985 General Electric and Jack Welch. In a year when they made record profits they looked at over funded pension plans and devised ways to capture that money for upper management retention payouts and golden parachutes. The PBGC came into being in 1974 because companies were defaulting on pensions for many different reasons including theft, workers were just fucked. ERISA act 1974 but I digress.

The book was written by Ellen Schultz a Wall St Journal investigative reporter
ď Retirement HeistĒ how companies plunder and profit from the nest eggs of American workers.

Read and see who is doing the screwing and who is on receiving end, truth hurts.
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sb001
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PostPosted: Thu Oct 18, 2018 2:19 pm    Post subject: Re: Sears Circling the Drain Reply with quote

Zundfolge1432 wrote:


Actually youíd have to go back to about 1985 General Electric and Jack Welch. In a year when they made record profits they looked at over funded pension plans and devised ways to capture that money for upper management retention payouts and golden parachutes. The PBGC came into being in 1974 because companies were defaulting on pensions for many different reasons including theft, workers were just fucked. ERISA act 1974 but I digress.

The book was written by Ellen Schultz a Wall St Journal investigative reporter
ď Retirement HeistĒ how companies plunder and profit from the nest eggs of American workers.

Read and see who is doing the screwing and who is on receiving end, truth hurts.


True but I meant companies that tried to limp on (or flat lied to everyone about profits) knowing they were going under and eventually had to file bankruptcy so debtors/ creditors took the vast amounts of the bankruptcy payout leaving employees penniless and homeless

Regarding PBGC from Wikipedia:

In fiscal year 2015, PBGC paid $5.6 billion in benefits to participants of failed single-employer pension plans. That year, 69 single-employer pension plans failed. PBGC paid $103 million in financial assistance to 57 multiemployer pension plans. The agency's deficit increased to $76 billion. It has a total of $164 billion in obligations and $88 billion in assets


Yikes Shocked
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notchback
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PostPosted: Tue Oct 23, 2018 2:53 pm    Post subject: Re: Sears Circling the Drain Reply with quote

ach60 wrote:
Sears never held any luster for me.
I always view Sears as part of American Rip Off Culture.
A buddy bought a bike from sears back when we were kids,
Pulled it out of the box, aired up the tires and both blew out!
Iíve bought a lot of Craftsman tools in the 70ís & 80ís
But I was surprised to read that one of Sears biggest cost is paying Pensions.
People rally did spend their Careers working for Sears? Holy Cannoli
I found this from CNN:
Turns out Sears was once the nation's largest employer, has an estimated 100,000 retirees still eligible for benefits under the pension plans.
By comparison, the company had only 89,000 employees as of February, and many of them have since left the company because of store closing.
So basically the Bankruptcy is B.S. move Sears Owners to rip off itís Retirees Pensions
American Rip Off Culture.at itís Best.

My mom is one of those retirees. If she loses the pension, then we have to start digging into the savings in order to pay for her assisted living place. This is when the shit gets real and hits home.

I worked for Sears through college and about a year after. Good pay at the time.
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