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Sears Agrees to Sell Craftsman to Stanley Black & Decker to Raise Cash

radcen

radcen

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I have been expecting this for several years. Sears has been on the ropes for years, and I believe all long-term hope has been lost, but to me this is the first nail in the coffin lid.
Sears Agrees to Sell Craftsman to Stanley Black & Decker to Raise Cash

http://www.nytimes.com/2017/01/05/business/dealbook/sears-craftsman-retailing.html?_r=0
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I get that they need cash, but if you sell everything that still has value, what will you be left with? Nothing that has value and stores that still nobody wants to shop at.
 
The land the stores are under, I know Sears used to own, are probably a declining asset as well with the death of malls in general
 
radcen said:
I have been expecting this for several years. Sears has been on the ropes for years, and I believe all long-term hope has been lost, but to me this is the first nail in the coffin lid.

I get that they need cash, but if you sell everything that still has value, what will you be left with? Nothing that has value and stores that still nobody wants to shop at.
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i bought a screwdriver when i heard the news. screwdrivers are going to be a rare commodity and i want to be one of the lucky ones that still has one.
 
Lord Tammerlain said:
The land the stores are under, I know Sears used to own, are probably a declining asset as well with the death of malls in general
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I had forgotten about that, but you're right. At least it used to be that way many years ago. Don't know if they have been selling said land since.
 
Good. I actually think long standing companies like this are part of the cause of our stagnation. Let it die, so that something new can be born.
 
radcen said:
I had forgotten about that, but you're right. At least it used to be that way many years ago. Don't know if they have been selling said land since.
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Sears stores are a relic from the last century. Craftsman was probably their best brand and now that is gone.

There is nothing as worthless as a big anchor store in a mall which cannot attract customers.
 
radcen said:
I have been expecting this for several years. Sears has been on the ropes for years, and I believe all long-term hope has been lost, but to me this is the first nail in the coffin lid.

I get that they need cash, but if you sell everything that still has value, what will you be left with? Nothing that has value and stores that still nobody wants to shop at.
Click to expand...

Yeah, saw this yesterday and it actually made me a little mad for some reason. http://www.debatepolitics.com/off-topic-discussion/275135-sears-sells-craftsman-brand-close-150-stores-post1066729653.html#post1066729653 I presume it's that such an iconic American brand (Sears and Craftsman both) has been so badly managed that a company that helped facilitate our country's growth and strength as a nation, since 1893, is disappearing and future generations may never know another like them.

You used to be able to buy anything from the Sears catalog, including even the house you would live in. I have stored in my barn, the wood burning stove and oven that my family ordered from the Sears catalog and used in the old farmhouse until I moved in and wired the place for electricity in the early 1980's. I even have a number of old Sears catalogs in an old trunk.
 
Beaudreaux said:
Yeah, saw this yesterday and it actually made me a little mad for some reason. http://www.debatepolitics.com/off-topic-discussion/275135-sears-sells-craftsman-brand-close-150-stores-post1066729653.html#post1066729653 I presume it's that such an iconic American brand (Sears and Craftsman both) has been so badly managed that a company that helped facilitate our country's growth and strength as a nation, since 1893, is disappearing and future generations may never know another like them.

You used to be able to buy anything from the Sears catalog, including even the house you would live in. I have stored in my barn, the wood burning stove and oven that my family ordered from the Sears catalog and used in the old farmhouse until I moved in and wired the place for electricity in the early 1980's. I even have a number of old Sears catalogs in an old trunk.
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I'm more sad than mad. Though part me says they should liquidate completely and close up and get it over with. To me this is just a band aid on a severed torso, so to speak.
 
Sears employs around 178,000 people.

When will Trump fire off a Tweet, and save all their jobs?
 
Beaudreaux said:
Yeah, saw this yesterday and it actually made me a little mad for some reason. http://www.debatepolitics.com/off-topic-discussion/275135-sears-sells-craftsman-brand-close-150-stores-post1066729653.html#post1066729653 I presume it's that such an iconic American brand (Sears and Craftsman both) has been so badly managed that a company that helped facilitate our country's growth and strength as a nation, since 1893, is disappearing and future generations may never know another like them.

You used to be able to buy anything from the Sears catalog, including even the house you would live in. I have stored in my barn, the wood burning stove and oven that my family ordered from the Sears catalog and used in the old farmhouse until I moved in and wired the place for electricity in the early 1980's. I even have a number of old Sears catalogs in an old trunk.
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I have a Kenmore refrigerator, washer and dryer. All are of decent quality and easily worth what I paid for them. However getting parts from Sears is incredibly painful. The sensor that senses when water is in the washer's tub failed a couple of years ago. It took Sears 3 weeks to get me the part. Three weeks without a washer, when you have 6 people at home, is unacceptable in a world where Amazon can get you most things in 2 days.
 
Gaius46 said:
I have a Kenmore refrigerator, washer and dryer. All are of decent quality and easily worth what I paid for them. However getting parts from Sears is incredibly painful. The sensor that senses when water is in the washer's tub failed a couple of years ago. It took Sears 3 weeks to get me the part. Three weeks without a washer, when you have 6 people at home, is unacceptable in a world where Amazon can get you most things in 2 days.
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This is one area where Sears is really falling off the boat.

11 years ago when I moved across the country I had to get all new appliances. I went to Sears for a washer & dryer and a fridge.

First off, all their employees were commission only, and the cut-throat tactics against each other and pressure on me was very off-putting. I did buy from them then, but in thinking it over I vowed to never shop there again for appliances. For that reason only. Tools only from then on.

Anyway, I got the washer and dryer delivered immediately. No issue. The fridge had a special order aspect to it, so they told me a week. Seemed long, I thought, for something simple, but I agreed. Fast forward over three weeks, I still had no fridge but I did have a bunch of empty promises and lame excuses... still with no believable promise in sight. I canceled the fridge, went to a local store, and had it 2 days later. This just solidified my decision to write them off.

They have quality stuff, and their prices aren't that bad, but this... THIS kind of stuff is what sours many people on them, IMO, and they just don't get it.
 
Gaius46 said:
I have a Kenmore refrigerator, washer and dryer. All are of decent quality and easily worth what I paid for them. However getting parts from Sears is incredibly painful. The sensor that senses when water is in the washer's tub failed a couple of years ago. It took Sears 3 weeks to get me the part. Three weeks without a washer, when you have 6 people at home, is unacceptable in a world where Amazon can get you most things in 2 days.
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I have a few Kenmore appliances as well. The only one I've trouble with is my dishwasher, and it took two weeks to get the part. So, I feel your pain. My cloths washer is an LG, and when the drain pump went out, I had the part the day after I ordered it FedEx Next Day Air, and they paid for the fast shipping because I ordered it snail mail to save the money.
 
Sears just became the victim of poor management.

Sadly most of the culprits probably made millions off the company personally.
 
radcen said:
They have quality stuff, and their prices aren't that bad, but this... THIS kind of stuff is what sours many people on them, IMO, and they just don't get it.
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They had quality stuff. Past tense. Other than what they get from regular manufacturers, the things that Sears does for itself, including Craftsman, is cheap garbage. It's all gone to the lowest bidder in China. That's why it takes so long to get parts, they get stuck on a slow boat. It's the same thing that happened to Delta when it was bought by a foreign company. Quality went to crap, parts dried up and now it's a joke.
 
radcen said:
I have been expecting this for several years. Sears has been on the ropes for years, and I believe all long-term hope has been lost, but to me this is the first nail in the coffin lid.

I get that they need cash, but if you sell everything that still has value, what will you be left with? Nothing that has value and stores that still nobody wants to shop at.
Click to expand...

When they sell Kenmore, they are officially finished.
 
Beaudreaux said:
Yeah, saw this yesterday and it actually made me a little mad for some reason. http://www.debatepolitics.com/off-topic-discussion/275135-sears-sells-craftsman-brand-close-150-stores-post1066729653.html#post1066729653 I presume it's that such an iconic American brand (Sears and Craftsman both) has been so badly managed that a company that helped facilitate our country's growth and strength as a nation, since 1893, is disappearing and future generations may never know another like them.

You used to be able to buy anything from the Sears catalog, including even the house you would live in. I have stored in my barn, the wood burning stove and oven that my family ordered from the Sears catalog and used in the old farmhouse until I moved in and wired the place for electricity in the early 1980's. I even have a number of old Sears catalogs in an old trunk.
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Once upon a time you could even buy house patterns from Sears. That wasn't even that long ago - I think they stopped in the 1940s. Many Sears houses are beautiful.
 
tres borrachos said:
When they sell Kenmore, they are officially finished.
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Hate to break it to you but Sears puts the Kenmore name on appliances made by others.


Sent from my iPhone using Tapatalk
 
tres borrachos said:
The brand name is over 100 years old, and is still one of the best selling brands in the world. It's a very valuable trade name.
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They don't literally make Craftsman tools at the Sears factory, either. They have them made by others to their specifications.
 
radcen said:
I have been expecting this for several years. Sears has been on the ropes for years, and I believe all long-term hope has been lost, but to me this is the first nail in the coffin lid.

I get that they need cash, but if you sell everything that still has value, what will you be left with? Nothing that has value and stores that still nobody wants to shop at.
Click to expand...

Sears lost out when they cut the Craftsman commercial line. The Craftsman line has been going downhill ever since. If a guy couldn't afford Snap On or Mac Tools they bought Craftsman. I don't buy Craftsman anymore. Stanley bought a lemon.
 
AliHajiSheik said:
Same thing that makes you think I would know that you did, I read and try to interpret.
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But I didn't ask you if you knew, and there was nothing in my post which would indicate or even hint that I didn't know it. I appreciate you wanting to educate me but once in a while I know something about the subject I'm posting about. Kenmore is a very large trade name that is worth a substantial amount of money to Sears, and they own the rights to the trade name. Who manufactures the products isn't relevant.
 
tres borrachos said:
But I didn't ask you if you knew, and there was nothing in my post which would indicate or even hint that I didn't know it. I appreciate you wanting to educate me but once in a while I know something about the subject I'm posting about. Kenmore is a very large trade name that is worth a substantial amount of money to Sears, and they own the rights to the trade name. Who manufactures the products isn't relevant.
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Rather than continuing to go back and forth about what was and wasn't known and by whom, I'll just reference what I wrote: "I read and try to interpret" and leave you with this:

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