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Sears bankruptcy

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    The capitalist vultures are forever busy destroying everything they get their hands on even a company like Sears.

    Sears has been a part of the American dream of progress and prosperity for all the people for generations. Almost every rural home in America for generations had two books on their living room tables: the Bible and the Sears catalog.

    How sad to realize that a greedy hedge fund destroyed Sears. Hedge funds destroy companies because they can make more money doing so and the corrupt corporate mass news media refused to tell the people the truth about why Sears went bankrupt.

    Capitalism is nothing more than a malignant cancer that has been destroying the planet for 3 hundred and has turned our Republic into a war criminal, warmongering, lawless, corrupt, fascist, greedy Oligarchy.

    I do not believe that all those multitudes of brave, courageous, patriotic Americans who gave their last full measure of devotion gave it for such a rotten Oligarchy and the people have a right and duty to abolish such a government and replace it with a New Republic.

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    Chet has touched upon hedge funds numerous times on this forum, and people/small investors and even big investors are not paying attention to the new warning shots being fired right now, present time. This morning on my Yahoo news feed, it showed a hedge funder who owns and/or runs prisons across the USA, His stocks were next to nothing until Trump was elected and his corporation value-hedge fund nearly double or tripled in value.

    Before the recession a guy named Nadel was indicted in a hedge fund scam: en.wikipedia.org/wiki/Arthur_Nadel

    Governor Bruce Rauner is one of these investors in nationwide prisons. bettergov.org/news/prisons-profits-and-...

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    Dockadams Wrote:

    Chet has touched upon hedge funds numerous times on this forum, and people/small investors and even big investors are not paying attention to the new warning shots being fired right now, present time. This morning on my Yahoo news feed, it showed a hedge funder who owns and/or runs prisons across the USA, His stocks were next to nothing until Trump was elected and his corporation value-hedge fund nearly double or tripled in value.

    Before the recession a guy named Nadel was indicted in a hedge fund scam: en.wikipedia.org/wiki/Arthur_Nadel

    Governor Bruce Rauner is one of these investors in nationwide prisons. bettergov.org/news/prisons-profits-and-...

    Money has to flow through an economy to give life to an economy. The same as a river flowing though a valley gives life to a valley. Derivatives to an economy are like a dam to a river. Derivatives divert money from the economy. Derivatives stagnate money and destroy jobs. Derivatives of today are far removed from stabilizing the market for orange juice and pork bellies.
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    Camden, New Jersey:

    Camden was once known for its manufacturing industry, but today it is riddled with urban decay and political corruption. Camden is considered the most impoverished city in the US, with a median household income of $18,007 and 42.5% of residents living below the poverty line. Camden also has one of the highest crime rates in the country, at 560% above the national average.

    This is an example of a derivative economy.

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    CNN Money: Decades of bad decisions doomed Sears

    "Decades of mismanagement and poor decisions made Sears an uncompetitive afterthought to shoppers. Key among the problems was its decision to cut costs while competitors updated their stores and built up their digital businesses."

    This is the way markets work. Customers ultimately decide which businesses survive and which die. Sears has been on its death bed for years. It will go the way of Toy R Us, Blockbuster, Radio Shack, and many more. Here's a list from Wikipedia:

    List of defunct retailers of the United States

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    Schmidt Wrote:

    CNN Money: Decades of bad decisions doomed Sears

    "Decades of mismanagement and poor decisions made Sears an uncompetitive afterthought to shoppers. Key among the problems was its decision to cut costs while competitors updated their stores and built up their digital businesses."

    This is the way markets work. Customers ultimately decide which businesses survive and which die. Sears has been on its death bed for years. It will go the way of Toy R Us, Blockbuster, Radio Shack, and many more. Here's a list from Wikipedia:

    List of defunct retailers of the United States

    Your defense of unregulated market controls on the economy is a reflection of status quo submission to big finance. In the last fifty years that type of thinking supported every attack possible on regulations designed to temper wild swings in the financial world. That type of thinking led to the passage of the Gramm Commodities Futures Modernization Act. The supreme being is not big money.
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    From Schmidt's CNN link:

    "Key among the problems was its decision to cut costs while competitors updated their stores and built up their digital businesses."

    Cutting costs is a corporate raider motus operandi. CEOs can make more money destroying a company than they can from a salary. Do you think Sears was ignorant of the effects of cost cutting?

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    The hedge-fund billionaire leading Sears looks like he's stripping it for parts

    QZ.com


    sears suffers from corporate raiding from qz.com

    May 22, 2014 · Eddie Lampert— corporate retailer or corporate raider? ... And Sears Holding is now looking at “strategic ...

    PEOPLE

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    Hedge Fund Tactics

    Selling or spinning off assets has returned money to shareholders (Lampert’s hedge fund is by far the largest)

    and provided cash to keep the company running as it tries to transform—most recently to a member-centric discount model. But none of Lampert’s many changes have boosted sales or even stopped the bleeding. And the dwindling cash pile hasn’t gone to stores, in which the company has underinvested badly. Spinning off Lands’ End, one of the company’s most lucrative divisions (paywall), has meant higher losses for the rest of Sears. One analyst

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    Chet -- Get out of your bubble. The reality is that shoppers continue to shift their business away from department stores, choosing either discount chains, more specialized retailers, or online competitors. What is your solution please when customers don't want to shop at Sears and prefer to take their business elsewhere. Regulations? What regulations? Do you want to force customers to shop at Sears?

    I just don't understand your logic. The market place drives business, whether it's department stores, malls, car dealerships, restaurants, or techie stuff. Look at the long list of defunct businesses in Wikipedia above. Some businesses thrive and others go under because of changing market conditions, technology, and mismanagement. It's always been that way. It's the way it's supposed to work.

    What does the Commodities Futures Modernization Act that you cite ad infinitum on this website have to do with Sears shoppers taking their business elsewhere? Tell me please. You throw that around like it's some kind outside force controlling the entire market.

    I am not defending unregulated markets. But your claiming unregulated markets are causing stores like Sears to go bankrupt is just pure bullshit. As my linked article above states, Sears is going under for decades of bad management but also customer preferences to shop elsewhere. I wander into our nearly empty Sears store in Colorado Springs and see a lot of stuff that customers don't seem interested in buying unless it's a steep discount. And those few customers seem to look a lot like me...seniors. I don't see any young millennials shopping there. They shop online.

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    Funny how you conveniently ignore the link to the hedge fund owner controller of Sears.

    Give up. The Democratic victories in the midterms were from progressives.

    I suspect Trump bought a lot of status quo democrats with his tax cut.

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    "What does the Commodities Futures Modernization Act that you cite ad infinitum on this website have to do with Sears shoppers taking their business elsewhere? "

    It deprives Sears and the rest of the economy from investment capital. How is that a mystery??? Take trillions of dollars away from capitol invest and you end up with empty Sears Stores.

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    Schmidt Wrote:

    Chet -- Get out of your bubble. The reality is that shoppers continue to shift their business away from department stores, choosing either discount chains, more specialized retailers, or online competitors. What is your solution please when customers don't want to shop at Sears and prefer to take their business elsewhere. Regulations? What regulations? Do you want to force customers to shop at Sears?

    I just don't understand your logic. The market place drives business, whether it's department stores, malls, car dealerships, restaurants, or techie stuff. Look at the long list of defunct businesses in Wikipedia above. Some businesses thrive and others go under because of changing market conditions, technology, and mismanagement. It's always been that way. It's the way it's supposed to work.

    What does the Commodities Futures Modernization Act that you cite ad infinitum on this website have to do with Sears shoppers taking their business elsewhere? Tell me please. You throw that around like it's some kind outside force controlling the entire market.

    I am not defending unregulated markets. But your claiming unregulated markets are causing stores like Sears to go bankrupt is just pure bullshit. As my linked article above states, Sears is going under for decades of bad management but also customer preferences to shop elsewhere. I wander into our nearly empty Sears store in Colorado Springs and see a lot of stuff that customers don't seem interested in buying unless it's a steep discount. And those few customers seem to look a lot like me...seniors. I don't see any young millennials shopping there. They shop online.

    Schmidt and Chet, regardless of the whole present situation, this company was already outdated 10 years ago. In other words even if we would have had an Democrat as President, the same would have happened. The same as with world powers, they come and go; just as what will happen to this country over time; it will be gone as world power. Amen
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    "Democrat as President"

    Bill Clinton signed the CFMA law into being. In a far worse rout than predicted, the Democrats ceded control of both the Senate and the House of Representatives to the Republicans in Clinton's first midterm. Right after signing the Assault Weapon Ban.

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    Chet -- It's almost amusing how you use any thread to cast dispersions on the CFMA and Bill Clinton. You are like a broken record. If you would take time to read about Sears and all the other companies that have gone under in the last few decades, you won't find anyone blaming the CFMA or Bill Clinton.

    Sears was not starved for investment capital. They were starved for new ideas as their business model became outdated with stodgy management unwilling to move with the times and changing markets. What's the word...uncompromising? Only a fool would invest more money in Sears as it's business model is now structured. All that is left is for a vulture to pick clean the carcass of the dead horse.

    Sorry, that's reality. Customers (or the lack of them) forced the Sears bankruptcy. Nothing else. When your cash flow cannot keep up with expenses you lose money, and Sears was bleeding a billion dollars a year forcing them to sell parts of the company to pay creditors. This is not charity. No bailouts by investors or taxpayers when your cash flow is so awful.

    Penny's is likely next...