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jwold Samba Member
Joined: September 30, 2008 Posts: 2088 Location: Portland, OR
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Posted: Mon Oct 15, 2018 1:18 pm Post subject: Re: Sears Circling the Drain |
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I see Craftsman branded tools for sale now at Lowes. |
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Volks Wagen Samba Member
Joined: February 13, 2013 Posts: 2926 Location: Germany
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Posted: Mon Oct 15, 2018 1:27 pm Post subject: Re: Sears Circling the Drain |
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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. _________________ 1973 1303 with AB-motor - sporadic
reconstruction as time permits, 1986 ex-Bundeswehr Doka - on the road again.
I'm definitely, probably, the worlds greatest lover.
Aithníonn ciaróg ciaróg eile. |
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KTPhil Samba Member
Joined: April 06, 2006 Posts: 34012 Location: Conejo Valley, CA
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Posted: Mon Oct 15, 2018 2:39 pm Post subject: Re: Sears Circling the Drain |
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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 Samba Member
Joined: October 05, 2009 Posts: 3382
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Posted: Mon Oct 15, 2018 7:06 pm Post subject: Re: Sears Circling the Drain |
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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. _________________ Fat chick owner/operator |
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skills@eurocarsplus Samba Peckerhead
Joined: January 01, 2007 Posts: 16879 Location: sticksville, ct.
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Posted: Mon Oct 15, 2018 7:47 pm Post subject: Re: Sears Circling the Drain |
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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. |
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 _________________
gprudenciop wrote: |
my reason for switching to subaru is my german car was turning chinese so i said fuck it and went japanese....... |
Jake Raby wrote: |
Thanks for the correction. I used to be a nice guy, then I ruined it by exposing myself to the public. |
Brian wrote: |
Also the fact that people are agreeing with Skills, it's a turn of events for samba history |
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super74beetle Samba Member
Joined: November 11, 2007 Posts: 97 Location: DEtroit, Michigan
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Posted: Tue Oct 16, 2018 4:17 am Post subject: Re: Sears Circling the Drain |
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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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janerick3 Samba Member
Joined: June 04, 2006 Posts: 1879 Location: Colorado
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Posted: Tue Oct 16, 2018 5:24 pm Post subject: Re: Sears Circling the Drain |
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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... _________________ Thanks,
Jan K. |
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sb001 Samba Member
Joined: May 19, 2011 Posts: 10406 Location: NW Arkansas
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Posted: Tue Oct 16, 2018 7:23 pm Post subject: Re: Sears Circling the Drain |
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Otasco, Western Auto, and TG&Y... oh the memories _________________ I'm the humblest guy on this board.
1969 autostick sedan, family owned since new
1600 SP engine
Solex 30 PICT 3 carburetor
Bosch 113905205AE autostick distributor |
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Zundfolge1432 Samba Member
Joined: June 13, 2004 Posts: 12467
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Posted: Tue Oct 16, 2018 7:55 pm Post subject: Re: Sears Circling the Drain |
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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 Samba Member
Joined: January 24, 2016 Posts: 3622 Location: CT
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Posted: Tue Oct 16, 2018 9:09 pm Post subject: Re: Sears Circling the Drain |
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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. _________________ '67 Beetle L41
'74 Westfalia
'69 Plymouth "Adam-12"
'63 Ragtop
'73 914
'72 Dodge Wrecker
Go Cubs!
World Series Champions 2016
KentPS wrote: |
...or the PO envied the terrorists' bus in "Back to the Future". |
mukluk wrote: |
He's fine, just waiting for the dragon in winklepickers to move out of his lane. |
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EverettB Administrator
Joined: April 11, 2000 Posts: 69823 Location: Phoenix Metro
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sb001 Samba Member
Joined: May 19, 2011 Posts: 10406 Location: NW Arkansas
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Posted: Wed Oct 17, 2018 11:51 am Post subject: Re: Sears Circling the Drain |
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The sad abandoned Sears standalone store (and auto center) in my hometown of Little Rock
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:
_________________ I'm the humblest guy on this board.
1969 autostick sedan, family owned since new
1600 SP engine
Solex 30 PICT 3 carburetor
Bosch 113905205AE autostick distributor |
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TDCTDI Samba Advocatus Diaboli
Joined: August 31, 2013 Posts: 12856 Location: North Carolina
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Posted: Wed Oct 17, 2018 11:58 am Post subject: Re: Sears Circling the Drain |
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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. _________________ Everybody born before 1975 has a story, good, bad, or indifferent, about a VW.
GOFUNDYOURSELF, quit asking everyone to do it for you!
An air cooled VW will make you a hoarder.
Do something, anything, to your project every day, and you will eventually complete it. |
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sb001 Samba Member
Joined: May 19, 2011 Posts: 10406 Location: NW Arkansas
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Posted: Wed Oct 17, 2018 3:38 pm Post subject: Re: Sears Circling the Drain |
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TDCTDI wrote: |
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. |
I'm very proud to hail from the second most dangerous city in the country. _________________ I'm the humblest guy on this board.
1969 autostick sedan, family owned since new
1600 SP engine
Solex 30 PICT 3 carburetor
Bosch 113905205AE autostick distributor |
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cbeck Samba Member
Joined: January 14, 2014 Posts: 2495 Location: high ridge, mo
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ach60 Samba Member
Joined: May 14, 2001 Posts: 4139 Location: Santa Maria
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Posted: Wed Oct 17, 2018 8:44 pm Post subject: Re: Sears Circling the Drain |
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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!
I’ve bought a lot of Craftsman tools in the 70’s & 80’s
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 it’s Retirees Pensions
American Rip Off Culture.at it’s Best. _________________ Good Luck
Al |
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sb001 Samba Member
Joined: May 19, 2011 Posts: 10406 Location: NW Arkansas
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Posted: Thu Oct 18, 2018 1:03 pm Post subject: Re: Sears Circling the Drain |
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ach60 wrote: |
So basically the Bankruptcy is B.S. move Sears Owners to rip off it’s Retirees Pensions
American Rip Off Culture.at it’s Best. |
Ever since Enron showed other companies what they could get away with... _________________ I'm the humblest guy on this board.
1969 autostick sedan, family owned since new
1600 SP engine
Solex 30 PICT 3 carburetor
Bosch 113905205AE autostick distributor |
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Zundfolge1432 Samba Member
Joined: June 13, 2004 Posts: 12467
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Posted: Thu Oct 18, 2018 2:10 pm Post subject: Re: Sears Circling the Drain |
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sb001 wrote: |
ach60 wrote: |
So basically the Bankruptcy is B.S. move Sears Owners to rip off it’s Retirees Pensions
American Rip Off Culture.at it’s Best. |
Ever since Enron showed other companies what they could get away with... |
Actually you’d 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
“ Retirement Heist” 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 Samba Member
Joined: May 19, 2011 Posts: 10406 Location: NW Arkansas
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Posted: Thu Oct 18, 2018 2:19 pm Post subject: Re: Sears Circling the Drain |
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Zundfolge1432 wrote: |
Actually you’d 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
“ Retirement Heist” 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 _________________ I'm the humblest guy on this board.
1969 autostick sedan, family owned since new
1600 SP engine
Solex 30 PICT 3 carburetor
Bosch 113905205AE autostick distributor |
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notchback Insensitive Jerk
Joined: December 16, 2003 Posts: 7024 Location: Behind the Zion Curtain
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Posted: Tue Oct 23, 2018 2:53 pm Post subject: Re: Sears Circling the Drain |
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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!
I’ve bought a lot of Craftsman tools in the 70’s & 80’s
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 it’s Retirees Pensions
American Rip Off Culture.at it’s 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. _________________
zeen wrote: |
Arguing with johnnypan is like mud-wrestling a pig. After a while you realize he just enjoys playing in the mud, winning the contest is not the point. |
FU#3 |
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