View Full Version : Sears sells Craftsman to Stanley - the fail continues
cameraman
01-05-17, 12:50 PM
Not a good thing from a tools perspective as Stanley/Black & Decker are purveyors of crap tools. I'm thinking the hand tool quality will drop like a stone. Stanley just barely closed on buying Newell Brands tool lines a month or two ago (Irwin, Lenox and Hilmor). We're going to see a huge drop in the diversity of available tools as Stanley drops all manner of stuff to streamline their new divisions.
On other fronts Sears is also trying to sell the Kenmore & Diehard brands too.
The people running Sears must have gone to the same business school as Tony George...
Wow, stunning. How long will Sears last?
http://money.cnn.com/2017/01/05/investing/sears-sells-craftsman-stanley-black-decker/index.html?iid=hp-stack-dom
Sears just announced another wave of store closings.
http://www.businessinsider.com/list-of-sears-and-kmart-stores-closing-2017-1
Napoleon
01-05-17, 01:29 PM
Not a good thing from a tools perspective as Stanley/Black & Decker are purveyors of crap tools. I'm thinking the hand tool quality will drop like a stone. Stanley just barely closed on buying Newell Brands tool lines a month or two ago (Irwin, Lenox and Hilmor). We're going to see a huge drop in the diversity of available tools as Stanley drops all manner of stuff to streamline their new divisions.
Ugh, 95% of my tools must be Craftsman (and I have a ton of money in tools with a big roll around with a box on top of it to house them all).
The people running Sears must have gone to the same business school as Tony George...
I am sure that was just a thrown off joke, but seriously look in to the person who owns/runs them (especially since my impression is that you are likely politically similar to me and will get as big of a laugh out of it as I do). I will not post anything other then this here, but the company has been run under his watch to incorporate certain "utopian" political/philosophical/economic beliefs in practice which have been a catastrophic failure (if Sears was a state, it would be Kansas, or maybe Louisiana).
TravelGal
01-05-17, 02:12 PM
:( Big article on this at the end of last year in the LA Times. Compared Sears to Penny's. One headed down, the other, so far miraculously, on the way up. Different strategies. Very sad about Craftsman though. It was one move I was hoping they wouldn't make.
I just finished reading a book on the demise of Pam Am, another American iconic brand. It reminds me of how they dismembered themselves by selling off anything of value (Pacific routes, the building at JFK, South American routes) just so they could get enough cash to keep going for another few months. :(
SBD still knows how to make good stuff - I like the Porter-Cable tools.
It appears that they are planning to keep Craftsman around - maybe they will leave the hand-tools part alone.
I just bought some Craftsman tools. I chose Craftsman vs. other comparably-rated brands just because it was Sears, and I wanted to support the local store. I guess it didn't help much. :\ The store is still there, with it's very empty parking lot...
I'll bet that they can be saved if they bring back the old catalog. It will bring joy into the hearts of adolescent boys, and maybe give them better haircuts as well. :laugh:
Napoleon
01-05-17, 04:08 PM
I'll bet that they can be saved if they bring back the old catalog.
Especially it they are selling houses for $1,649.00
919
Their big blunder was closing down their general catalogue operation in 1993. With a little vision they could have become Amazon before Amazon.
Second blunder was the Kmart debacle. They understood brand equity enough to put Craftsman, Diehard, and Kenmore into their own holding company but not well enough to know that a brand is something that has to be continuously built and maintained. So as "Sears" brand equity was already sliding (they were the cheap end of the mall) they taint themselves with a bunch of shabby discount stores. Then they dilute the quality of the Craftsman and Kenmore brands trying to stay competitive with the discount brands.
I blame Micheal Andretti. :tony:
The question is, where am I going to get my Toughskins when they all close?
The question is, where am I going to get my Garanimals when they all close?
Fixed. :gomer:
I quit when Binford gets sold. #ToolManTim ;)
Their big blunder was closing down their general catalogue operation in 1993. With a little vision they could have become Amazon before Amazon.
Second blunder was the Kmart debacle. They understood brand equity enough to put Craftsman, Diehard, and Kenmore into their own holding company but not well enough to know that a brand is something that has to be continuously built and maintained. So as "Sears" brand equity was already sliding (they were the cheap end of the mall) they taint themselves with a bunch of shabby discount stores. Then they dilute the quality of the Craftsman and Kenmore brands trying to stay competitive with the discount brands.
I blame Micheal Andretti. :tony:
The question is, where am I going to get my Toughskins when they all close?
Richard, I think you nailed it. Especially that :tony: part :laugh:
datachicane
01-05-17, 05:27 PM
Sears and Kmart both sit on a bunch of valuable urban real estate.
http://s2.quickmeme.com/img/0c/0c5a15b96e2b4b67ceb500b89f2b0463be0a7e0c35fdb69d06 afb0c617b0ab5b.jpg
Sears and Kmart both sit on a bunch of valuable urban real estate.
Both the Sears and Kmart stores near me closed within the last couple of years. Both were torn down and redeveloped.
Why does everyone assume the quality of Craftsman tool will decline; maybe Stanley wants to get into the high(er) end tool business.
cameraman
01-05-17, 09:43 PM
Why does everyone assume the quality of Craftsman tool will decline; maybe Stanley wants to get into the high(er) end tool business.
Because they just spent 1.4 billion on Irwin, Lenox & Hilmor and now 900 million on Craftsman. They have to pay for that somehow.
They just bought: Irwin, Quick-grip, speedbor, Marples,Unibit, Hanson, Visegrip, strait-line, Marathon, Lenox saws, Hilmor's all things HVAC and now Craftsman.
Add to that they already own Dewalt, Porter Cable, Bostitch, Black & Decker, MAC tools, Proto and of course Stanley among others.
How much overlap can they afford?
rosawendel
01-05-17, 10:18 PM
Who made Craftsman tools previously? I always thought Sears was basically a branding clearance house.
Who made Craftsman tools previously? I always thought Sears was basically a branding clearance house.
Seek and you shall find...
https://en.wikipedia.org/wiki/Craftsman_(tools)
chop456
01-06-17, 03:56 AM
Craftsman quality has been in decline for years. There's a substantial difference between my dad's from the 70's and mine from the 90's. "Break it and we'll replace it with something of lesser quality". :gomer:
I'd by nothing but Cornwell or Klein if I could afford them.
chop456
01-06-17, 03:58 AM
Sears and Kmart both sit on a bunch of valuable urban real estate.
http://s2.quickmeme.com/img/0c/0c5a15b96e2b4b67ceb500b89f2b0463be0a7e0c35fdb69d06 afb0c617b0ab5b.jpg
Yup. And they own/owned quite a few of the malls they anchor(ed). Homart Development Corp., IIRC.
Napoleon
01-06-17, 10:40 AM
Yup. And they own/owned quite a few of the malls they anchor(ed). Homart Development Corp., IIRC.
Are you sure of that? Just talking Sears for now, at least in NEOhio I can't think of a single mall they are in that the mall is not owned by some 3rd party developer. Now they may own just their store (that happens very often with major anchors at malls) but that is it.
As to K-Mart, every time I have run into them (and remember, I am a real estate attorney) they do not own the ground their store is setting on, and maybe they own the actual building, but maybe they do not, it just depends.
cameraman
01-06-17, 03:42 PM
Sears Holdings is planning to spinoff 235 of its properties into a new REIT. The REIT will be called Seritage Growth Properties. The package of properties is backed by a $925 million loan from JP Morgan Chase Bank. The 235 properties amount to a total of 37.1 million square feet of space. The stores are mainly Sears and Kmart locations spread across the country and Puerto Rico.
http://www.seritage.com/properties
indyfan31
01-06-17, 03:55 PM
Why does everyone assume the quality of Craftsman tool will decline; maybe Stanley wants to get into the high(er) end tool business.
I believe hand tools started to be made overseas in 2010. I can't imagine the quality has remained the same compared to the older "Forged in U.S.A." tools. However, I understand tools stamped "Craftsman Industrial" are still US made as required by certain contracts.
datachicane
01-06-17, 06:01 PM
Over a dozen different manufacturers' tools have been sold as 'Craftsman' over the years, including Stanley. Doubt if much will change, aside from contributing to the demise of Sears.
Napoleon
01-08-17, 06:12 PM
http://www.seritage.com/properties
That seems to confirm what I said. To the extent Sears owns they don't own the malls just their store, for the vast majority, and although you have a few Kmarts in the mix, the lack of a large number tell me that they basically rent those.
Back in the day, Sears had a lot of free standing stores which I assumed they owned and probably still do. Building and/or land. This was before malls became the destination for suburban shoppers. I think it is fairly well known that the "play" in Sears and Kmart was always in the undervalued real estate, i.e. REITs.
A huge problem for K Mart is the location of their stores. In retail areas that were built up 4-5 decades ago and have been in decline for the past decade. Many of the K Marts around me (including those that have already been shuttered) have this issue.
Back in the day, Sears had a lot of free standing stores which I assumed they owned and probably still do. Building and/or land. This was before malls became the destination for suburban shoppers. I think it is fairly well known that the "play" in Sears and Kmart was always in the undervalued real estate, i.e. REITs.
It was until they sold off Homart. Much of their 'real estate' days is leased back. They had another REIT arm that was spun off several years ago when the KMart deal happened.
datachicane
01-08-17, 10:19 PM
Like more than a few companies, long (or even medium) -term survival and profitability are way, way down the list of management's priorities. Pretty disgusting, IMHO.
http://www.freeclipartnow.com/d/20061-1/bull-butcher-diagram.jpg
chop456
01-09-17, 01:23 AM
Does anyone really shop at Sears for anything except appliances?
I buy trash compactor bags there because it's the only place I know that sells them and it's a few blocks from my house. Other than that or when the kid has a tie/belt/pants emergency 30 minutes before a dance - never.
Does anyone really shop at Sears for anything except appliances?
I buy trash compactor bags there because it's the only place I know that sells them and it's a few blocks from my house. Other than that or when the kid has a tie/belt/pants emergency 30 minutes before a dance - never.
Ummm, a 3.0 hp lawn mower (that beat the hell outta Honda or Toro for the $$$), leaf blower, weed whacker, a 5-burner gas cooktop that was tits compared to the Jenn Air it replaced, and a cordless Crasftsman drill that I still use a decade later.
I would buy sheets and towels at Sears. Still have a jacket I bought there in the 90's.
Napoleon
01-09-17, 09:35 AM
A huge problem for K Mart is the location of their stores. In retail areas that were built up 4-5 decades ago and have been in decline for the past decade. Many of the K Marts around me (including those that have already been shuttered) have this issue.
Same here in NEOhio. Actually replying to this made me go look to see what was open in this part of the country and amazingly they are not showing the 3 that were close enough to me that I would visit sometime. Two of the ones that closed as a general matter were in a not terrible demographic/retail area, but both had what I would consider to be secondary locations (and at least one of them had a Walmart go in at a better location), the 3rd was clearly in a poor demographic/retail environment area with many vacancies (it also had a Walmart open in competition).
Still have a jacket I bought there in the 90's.
I buy clothes on sale at Sears. :D
When stuff goes on sale, it is ridiculously cheap. (Maybe I am the reason they don't make any money!)
I bought a Sears version of a Carhartt jacket - an insulated duck bomber jacket - price tag said $125. I paid $7.00 for it on clearance last summer.
My Craftsman tools have served me well. Lawnmower, snow blowers too.
I bought a Sears dual stage snowblower maybe 12 years ago. Only issue is it is powered by a Tecumseh engine who went out of business. Needed a valve job a few years ago that almost cost as much as the snowblower did new. Took a chance on that because there are no new parts. Next time, it gets junked.
Insomniac
01-09-17, 01:08 PM
My mom's last experience at Sears. She bought shoes there and didn't like them. Her brother had a heart attack and she flew out (bad shape) and he passed a few days later. After she came home and had an opportunity to return them, they said no, past 30 day return policy, it was day 31. Obviously they didn't have to take them back, but I can think of many other places that would've.
TravelGal
01-10-17, 12:41 PM
My mom's last experience at Sears. She bought shoes there and didn't like them. Her brother had a heart attack and she flew out (bad shape) and he passed a few days later. After she came home and had an opportunity to return them, they said no, past 30 day return policy, it was day 31. Obviously they didn't have to take them back, but I can think of many other places that would've.
Me too! Did she go to a manager? If no joy at the store, I would have written to the HQ. I am seeing red, just reading this. It's the type cr@p we get in travel all the time. All the underlings can say is no. You just have to keep moving up til you get to the person who can say yes.
Insomniac
01-10-17, 01:10 PM
Me too! Did she go to a manager? If no joy at the store, I would have written to the HQ. I am seeing red, just reading this. It's the type cr@p we get in travel all the time. All the underlings can say is no. You just have to keep moving up til you get to the person who can say yes.
The manager was not there. They hired a new one who was starting later that day. She called and spoke to her, nothing. She called Sears corporate and nothing. Maybe writing to HQ will work. Me personally, I'd just eat it and never shop there again. Won't matter much now since they're likely going to be gone in a couple years or some new shell after emerging from bankruptcy. It's funny when dot com businesses get customer service better than brick and mortar when that should be their leg up.
TKGAngel
01-10-17, 01:32 PM
Does anyone really shop at Sears for anything except appliances?
I buy trash compactor bags there because it's the only place I know that sells them and it's a few blocks from my house. Other than that or when the kid has a tie/belt/pants emergency 30 minutes before a dance - never.
I've gotten some nice Lands End sweaters and flip flops. Also, if you have a kid in a Catholic or other private school, there's a 95% chance that some 'official' uniform component is specified as a Lands End item.
Insight from Former Sears Employees (http://www.businessinsider.com/sears-failing-stores-closing-edward-lampert-bankruptcy-chances-2017-1)
Ted
Dang. Those stores look like Soviet Russia.
manic mechanic
01-13-17, 01:40 AM
Because they just spent 1.4 billion on Irwin, Lenox & Hilmor and now 900 million on Craftsman. They have to pay for that somehow.
They just bought: Irwin, Quick-grip, speedbor, Marples,Unibit, Hanson, Visegrip, strait-line, Marathon, Lenox saws, Hilmor's all things HVAC and now Craftsman.
Add to that they already own Dewalt, Porter Cable, Bostitch, Black & Decker, MAC tools, Proto and of course Stanley among others.
How much overlap can they afford?
Don't forget Blackhawk, SK, and Challenger.
BTW, they could improve their MAC tools wing: I have broken MAC tools and haven't seen a distributor in several years. I used to go to NHRA events to take my broken stuff and get it warrantied. Last event there wasn't even a vendor display for them.
MAC customer service has sent me a mail-in RMA, but how do I get the drawer slides on my toolbox replaced without breaching the security of the locks if the parts will take 2-3 weeks to get here? :rolleyes:
BTW, my toolbox has ~ $45,000 worth of tools in it...
Missy reminds me that I have a Sears gift card that I should probably use.
I have a Craftsman 16" electric chainsaw that I've used around the yard for many years. As much as I hate 2-cycle engines I should probably have something gas powered. Eventually I'm going to run out of dead Ash trees in my back yard and will need to find other firewood.
Maybe this one? http://www.sears.com/craftsman-18inch-42cc-gas-chainsaw/p-07138018000P#
</threadjack>
http://cdn.pressurewashr.com/wp-content/uploads/2017/01/Tool-Brand-Behemoths-Tool-Companies-Who-Owns-What-Brands.jpg
Where's Binford? :gomer: ;)
Insomniac
02-14-17, 02:19 PM
Where's Binford? :gomer: ;)
You of all people should know Disney makes those tools. :P
You of all people should know Disney makes those tools. :P
Surprised they didn't already start making/selling them...with Buzz Lightyear branding. ;)
Sears has 'substantial doubt' that it can survive (http://money.cnn.com/2017/03/22/news/companies/sears-kmart-future/index.html?iid=hp-stack-dom)
Sears has 'substantial doubt' that it can survive (http://money.cnn.com/2017/03/22/news/companies/sears-kmart-future/index.html?iid=hp-stack-dom)
:( One of my first jobs out of high school was selling lawn and garden equipment at the local Sears store. I thought it was a good company to work for and enjoyed my time there. And I'm probably one of the last loyal customers they have; my garage is full of Craftsman logo-ed tools and equipment. Hate to see it go... They just reacted too slowly to market trends.
Sears has 'substantial doubt' that it can survive (http://money.cnn.com/2017/03/22/news/companies/sears-kmart-future/index.html?iid=hp-stack-dom)
Pension plans? :saywhat: That explains a lot. Several malls around these parts that will have a rather large empty space w/o Sears as an anchor store. We have a nice mall here in Dublin...I don't do malls anymore, but I had to get a watch battery changed recently. It's under going some major renovations (it's ~20 years old). If Sears and JCP fail, and with the Macy's issues, it will be history, too. Idiot developers keep over developing malls. The mall in dtown Cbus was already razed a few years ago after Marshall Fields, Lazarus and Jacobson's failed, and another outdoor mall on the NE side recently received a tax abatement, which screws the Cbus schools out of ~$19m in tax funding annually for 10 years. :shakehead: And yet they are building a new outlet mall north of Cbus. :irked: There are two outlet malls ~45 minutes from Cbus that they built about 1/2 mile across from each other, and one has basically become a ghost town. Smooth move Tanger Outlets. :rolleyes: :shakehead:
And yet they are building a new outlet mall north of Cbus. :irked: There are two outlet malls ~45 minutes from Cbus that they built about 1/2 mile across from each other, and one has basically become a ghost town. Smooth move Tanger Outlets. :rolleyes: :shakehead:
Sounds familiar. In Toledo Levis Commons (2004) and Fallen Timbers (2007) opened within three years of each other, separated by a mere 6.9 miles of driving (https://www.google.com/maps/dir/The+Town+Center+at+Levis+Commons,+Levis+Commons+Bo ulevard,+Perrysburg,+OH/The+Shops+At+Fallen+Timbers,+3100+Main+St+%231599, +Maumee,+OH+43537/@41.5413823,-83.68894,13.5z/data=!4m13!4m12!1m5!1m1!1s0x883c76f489ed4ed9:0x5bc 3cc76c689eba0!2m2!1d-83.6399095!2d41.5275633!1m5!1m1!1s0x883c711d7f4a70 35:0x4e0bd804621a3f31!2m2!1d-83.7067652!2d41.5473234) (3.8 as the crow flies) and just two exits. I'm convinced the only reason they've both survived is because the old "main mall" in Toledo has turned into a gangland.
Sounds familiar. In Toledo Levis Commons (2004) and Fallen Timbers (2007) opened within three years of each other, separated by a mere 6.9 miles of driving (https://www.google.com/maps/dir/The+Town+Center+at+Levis+Commons,+Levis+Commons+Bo ulevard,+Perrysburg,+OH/The+Shops+At+Fallen+Timbers,+3100+Main+St+%231599, +Maumee,+OH+43537/@41.5413823,-83.68894,13.5z/data=!4m13!4m12!1m5!1m1!1s0x883c76f489ed4ed9:0x5bc 3cc76c689eba0!2m2!1d-83.6399095!2d41.5275633!1m5!1m1!1s0x883c711d7f4a70 35:0x4e0bd804621a3f31!2m2!1d-83.7067652!2d41.5473234) (3.8 as the crow flies) and just two exits. I'm convinced the only reason they've both survived is because the old "main mall" in Toledo has turned into a gangland.
Robbing Peter to pay Paul. :saywhat: All of the 'original' malls in Cbus are dead or on life support. Then they started building them in the burbs, which then killed what was City Center in downtown (and is now green space). Even when they built the casino here on the west side of town, many retailers ended up closing up shop. Never fulfilled the promise of growth. The west side is not the best side of Cbus (I lived there for ~5 years). I also detest malls, as I worked in a couple of them during HS and college days. Sears is simply not laid out very well...not 'user friendly'. This is based on my 20 odd years working in retail.
chop456
03-23-17, 06:37 AM
Sounds familiar. In Toledo Levis Commons (2004) and Fallen Timbers (2007) opened within three years of each other.
Fallen Timbers is nice because there's a brewpub right next to it where you can hide while your wife does whatever it is they do in malls.
TravelGal
03-23-17, 03:10 PM
Fallen Timbers is nice because there's a brewpub right next to it where you can hide while your wife does whatever it is they do in malls.
To further hijack (you should excuse the term), this reminds me a of cartoon I put on my business Facebook page a couple of weeks back. Clearly from England but you get the point. Wife: I'm just popping into the store to look at shoes. What are you going to do? Husband: I'll go on holiday to Spain. Meet you back here."
Vendors are bailing on Sears now. They are worried they won't get paid.
http://www.reuters.com/article/us-sears-restructuring-vendors-idUSKBN16T31S
When it all goes down, I hope the CEO Eddie Lampert gets sued for fraud. What a schmuck. :shakehead:
http://www.usatoday.com/story/money/2017/03/22/sears-holdings-ceo-eddie-lampert/99487518/
More and stores falling..
https://www.bloomberg.com/news/articles/2017-04-07/stores-are-closing-at-a-record-pace-as-amazon-chews-up-retailers
:\
I made a point to go out and use my Sears gift card. Finally got that chainsaw. I went to their appliance and hardware store to pick it up. I was curious whether that model holds any hope for them. Answer is not when the store looks like a smaller version of your average dingy Kmart.
The cashier there did give me a suggestion that I appreciated - cans of pre-mixed gas and oil. Sure, it's ridiculously expensive but I don't use enough of it to justify mixing a gallon at a time and then having it sit for years unused.
On the topic of retailers cratering their brand it looks like RadioShack is entering their final death spiral. Supposedly they're keeping somewhere between 1500 and 700 stores open but if you read their twitter feed or visit their web site you'd think that they were shuttering the whole business.
This article (http://www.business2community.com/strategy/radioshack-strategy-lesson-business-leaders-01591532#zT2GhTIjczYoDPSA.97)sums up where they went wrong, I think. For decades they jumped from one tech nerd niche market to the next but then they tried to become a general consumer electronics company, something that they just weren't equipped for.
The nerd niche markets still exist and might drive enough business to keep alive the stores that they have left. But like so many other retailers, they failed to pivot to the online retail market and nerds have already abandoned them.
pfc_m_drake
05-14-17, 07:29 PM
I myself have been trying to throw Sears some bones to help out. Needed an air-tool a few weeks back, and it came in a set of three (with an impact wrench and something else). Could have bought just the one I needed, but splurged the extra couple of bucks to buy the set with carrying case. Ended up having to exchange the set because the impact wrench didn't work :shakehead:
Needed a new washer last fall, so I bought a Kenmore. Whenever I need some line for my (Craftsman) weed whacker, I always pay more for the Sears/Craftsman OEM version.
Going out of my way to try and help, but like you, it's clear to me why people are going elsewhere. Going to be a sad day when they go under.
Regarding Radio Shack - I think you probably hit the nail on the head with that one. I've made some specialty electronics purchases there over the years (micro soldering station, and a multi-meter come to mind). They probably missed a few boats over the years. Too bad.
devilmaster
06-03-18, 02:59 AM
Eddie Lampert should be criminally liable.
datachicane
06-07-18, 02:08 AM
Eddie Lambert is a fine example of ideology trumping observable reality. He's an idiot.
Radio Shack is a huge missed opportunity. About a year ago I swung by one hoping to save the 40 minute drive to the nearest Fry's for a couple of Raspberry Pi. No luck, pretty much nothing but phones and phone accessories, stuff you could pick up at any Fred Meyers (or gas station, for that matter). Crowd of geeks in the Raspberry Pi aisle at Fry's, all walking out with at least a couple, along with USB wifi dongles, 5v power supplies, Arduinos, etc., exactly the kind of hobbyist stuff that Radio Shack was selling 20 years ago.
Later that night I ran out of solder, and ran back out to the local Radio Shack. No solder. At Radio Shack. Let that sink in. Plenty of phone accessories, though.
Agreed. In a lot of ways the kind of stuff Radio Shack used to be about have become hip again and Radio Shack totally wiffed at getting on board with that. It seems like whatever the HQ wanted to do the individual stores couldn't break out of that "ratty old cell phone store" niche they had boxed themselves into.
Datachicane's comments on Radio Shack triggered a memory of Heathkit. And sure enough they are still around but somewhat limited (IMO) in what they provide. I would think a pi based kit would be right up their alley. But nothing.
https://shop.heathkit.com/shop
Datachicane's comments on Radio Shack triggered a memory of Heathkit. And sure enough they are still around but somewhat limited (IMO) in what they provide. I would think a pi based kit would be right up their alley. But nothing.
https://shop.heathkit.com/shop
I had no idea that any vestige of Heathkit still existed, thanks for posting about it.
If I didn’t have a couple other electronic projects in the works I would order the AM radio kit (the one you have to solder).
I miss Radio Shack. I’m an amateur radio operator. RS was a convenient source for all kinds of electronic stuff, connectors, components (resistors, capacitors, inductors), etc.
indyfan31
06-10-18, 01:00 AM
Datachicane's comments on Radio Shack triggered a memory of Heathkit. And sure enough they are still around but somewhat limited (IMO) in what they provide. I would think a pi based kit would be right up their alley. But nothing.
https://shop.heathkit.com/shop
Oddly enough, it still works. :D
972
I had no idea that any vestige of Heathkit still existed, thanks for posting about it.
If I didn’t have a couple other electronic projects in the works I would order the AM radio kit (the one you have to solder).
I miss Radio Shack. I’m an amateur radio operator. RS was a convenient source for all kinds of electronic stuff, connectors, components (resistors, capacitors, inductors), etc.
A hundred fifty bucks for a crappy AM radio using old technology. :shakehead:
Nostalgia sure is expensive!
Stanley, Sears to have competing Craftsman tool brands (http://www.chicagotribune.com/business/ct-biz-stanley-craftsman-tools-rollout-0820-story.html)
I saw the Craftsman stuff in Sears the other day but couldn't remember who was making it. It will be interesting to compare it to the Stanley stuff in the same store.
The Sears death spiral is picking up speed. Companies are worried about whether Sears will be able to pay their bills after the holiday season so Sears is looking to liquidate more property to generate cash.
http://www.thestreet.com/video/sears-ceo-eddie-lampert-latest-idea-to-save-retailer-hints-end-may-be-near-14721271
Sad to see. Once upon a time every kid looked forward to arrival of the Sears Wishbook as the official kick-off for the holiday season. It looks like this may be their last holiday season.
Sears Hires Advisers to Prepare Bankruptcy Filing
(https://www.wsj.com/articles/sears-hires-advisers-to-prepare-bankruptcy-filing-1539136189)
TravelGal
10-10-18, 03:14 PM
Sears Hires Advisers to Prepare Bankruptcy Filing
(https://www.wsj.com/articles/sears-hires-advisers-to-prepare-bankruptcy-filing-1539136189)
:(:(
Sears' bankruptcy appears imminent (https://www.cnn.com/2018/10/12/business/sears-bankruptcy/index.html)
The most recent filing from Sears showed it had only $193 million in cash on hand as of August 4, the end of its last fiscal quarter. The company also has $269 million available to it from lenders, according to figures it released on September 13.
Having so little cash available would make it very difficult for Sears to pay back $134 million in debt due on Monday. Plus, Sears also has to pay its current vendors and employees and stock up inventory before the holidays.
Sears files for bankruptcy protection; Eddie Lampert steps down as CEO
(https://www.cnbc.com/2018/10/15/sears-files-for-bankruptcy.html)
Sad, sad story, but one that is being repeated over an over. As much as I cherish the nostalgia of Wishbook and back to school shopping at Sears my purchases there fell off a cliff in favor of Amazon with everyone else's. It declined to mostly tools and appliances and even those started to seem like more trouble than they were worth.
I started to grumble some more about this but then I realized i was probably repeating myself. And I was. :D
Their big blunder was closing down their general catalogue operation in 1993. With a little vision they could have become Amazon before Amazon.
Second blunder was the Kmart debacle. They understood brand equity enough to put Craftsman, Diehard, and Kenmore into their own holding company but not well enough to know that a brand is something that has to be continuously built and maintained. So as "Sears" brand equity was already sliding (they were the cheap end of the mall) they taint themselves with a bunch of shabby discount stores. Then they dilute the quality of the Craftsman and Kenmore brands trying to stay competitive with the discount brands.
I blame Micheal Andretti. :tony:
The question is, where am I going to get my Toughskins when they all close?
devilmaster
10-28-18, 12:10 AM
Once again, Eddie L should be held criminally liable.
He either ran it into the ground, slow time, to break it up, or he is that completely incompetent in running a retail empire.
But in reality, The Florida based recluse billionaire hedge fund manager who ran an empire into the ground on the sole basis of the fact that he had delusions of grandeur, -when its all said and done- will still be a Florida based recluse billionaire hedge fund manager.
A 2012 article on Reuters stated that the Sears/Kmart empire had a 280,000 strong US workforce. U.S. - that doesn't include Canada where Sears is already gone (Sears Canada went bankrupt and liquidated almost 2 years ago now) and malls are scrambling to remodel spaces to hopefully find new retailers.
Criminally stupid that he thought he could rule this empire, or criminally evil in a grand long term plan to wreck it, is still criminal.
But he'll be fine.
devilmaster
11-08-18, 12:31 AM
doubt this goes anywhere... but... (https://www.cnn.com/2018/11/07/business/sears-lampert-deals/index.html)
I was going to say that it seems like the share holders should have a case that Lampert was making decisions to enrich himself at their expense. Turns out they started that suit back in 2015 so hopefully that will get somewhere.
devilmaster
12-11-18, 12:10 PM
https://www.cbc.ca/news/canada/nova-scotia/creditors-sears-canada-scotiabank-warranties-1.4936936
TravelGal
12-11-18, 12:30 PM
https://www.cbc.ca/news/canada/nova-scotia/creditors-sears-canada-scotiabank-warranties-1.4936936
I renewed my 3-year dishwasher warranty against my better judgment a couple of years ago, knowing their service was going down the tubes. In the meantime I've realized that I probably didn't have coverage any more. This pretty much confirms it, even here in the US. Fortunately, I'm a charge it and pay it gal so I won't have any collection agencies on my doorstep.
Sears may be down to its last 24 hours. Iconic retailer likely liquidates if no bid comes in tomorrow. (https://www.cnbc.com/2018/12/27/sears-may-need-to-liquidate-if-no-bid-comes-in-by-tomorrow.html)
Sears closing 80 more stores in March as it faces possible liquidation (https://www.cnbc.com/2018/12/28/sears-closing-80-more-stores-in-march-faces-possible-liquidation.html)
Sears may be facing imminent death as deadline passes to rescue the company from liquidation (https://www.businessinsider.com/sears-speeds-toward-possible-liquidation-2018-12)
The hedge fund run by the company's CEO, Eddie Lampert, had a deadline of 4 p.m. on Friday to submit its bid to bankruptcy court to purchase many of the company's remaining assets, including about 500 stores. No formal bid was made public on the company's electronic docket as of 4:45 p.m. on Friday by ESL, or any other party for that matter.
Without a bid, the 125-year-old company will likely be forced to begin shutting down and laying off its approximately 68,000 employees.
Sears wins reprieve from liquidation as Chairman Lampert makes last-minute bid on bankrupt company (https://www.cnbc.com/2018/12/28/sears-chairman-eddie-lampert-submits-bit-for-company.html)
Sears wins reprieve from liquidation as Chairman Lampert makes last-minute bid on bankrupt company (https://www.cnbc.com/2018/12/28/sears-chairman-eddie-lampert-submits-bit-for-company.html)
Is there still 4.4B in meat to clean off those bones?
devilmaster
12-29-18, 02:05 PM
Is there still 4.4B in meat to clean off those bones?
Almost 2 billion of the 'offer' (about 40%) would be in forgiven debt that Lampert has against Sears himself.
Another 1.3 billion from investment banks, so any other creditor would be lucky to get anything.
And part of the bid would be the removal of any litigation past or present against Lampert and ESL holdings (parent company of Sears)
There might not be 4.4 (b)illion worth of meat, but saving his own ass? Priceless.
TravelGal
12-30-18, 05:53 PM
There might not be 4.4 million worth of meat, but saving his own ass? Priceless.
;)
end of the line?
Exclusive: Sears to ask bankruptcy judge for approval to liquidate - sources (https://finance.yahoo.com/news/exclusive-sears-ask-bankruptcy-judge-125938496.html)
Sears Holdings Corp will ask a bankruptcy judge on Tuesday if it can proceed with liquidation after it could not reach an agreement on Chairman Edward Lampert's $4.4 billion takeover bid, casting doubt on the survival of the 126-year-old U.S. department store chain, people familiar with the matter said.
:(
Sears reaches 11th hour deal to stay in business
(https://www.cnn.com/2019/01/08/business/sears-future-bankruptcy-delay/index.html)
Lampert's $4.4 billion offer does not complete the sale, but rather starts an auction that is due to be completed on January 14. It is still possible that those wishing to shutdown the company will bid more for the assets than Lampert is offering.
chop456
01-09-19, 02:19 AM
The SearsOutlet.com DEAL OF THE DAY! :laugh:
$14.99 (List Price )
$14.99
You Save: $0.00
Condition: New
https://www.searsoutlet.com/br/deal-of-the-day
Walked through a Sears that was closing last week. It was one of the oldest Sears in the area and it was the last day.
Completely empty - fixtures were all being sold and most of those were marked down. A little bit of merchandise was left and folks were buying it by the cart load. Piles of socks and panties and XXXL pants.
I remember shopping in this Sears as a kid. Back then they still had the candy counter where they were roasting nuts - you could smell it as soon as you walked in that entrance. Where my parents bought the new Kenmore fridge and Toughskin jeans for me - with those awful reinforced knee patches. The display dishwasher with the glass door that was always running. Aisles full of Craftsman tools. A separate detached Sears automotive service garage. A parking lot full of Sears appliance repair trucks always on the move. A catalog pick-up area.
Sears could have been Amazon. They were Amazon. Times change and all that - and yeah you can be left behind. But the corporate decision-making was more negligent than uninformed.
I will miss the place.
Elmo, I have those same memories as well. Those jeans needed to be washed about a dozen times before they weren't too stiff in the legs to be comfortable. Sears sold everything. Except for food it was one stop shopping for nearly everything. Ammo, albums, automotive supplies, you name it. And speaking of automotive, remember when Penske ran their service centers?
Kmart and Penske Auto Centers Reach Agreement For an Orderly Shutdown of Auto Service Centers (https://searsholdings.com/press-releases/pr/1566)
TravelGal
01-09-19, 02:54 PM
Sears could have been Amazon. They were Amazon. Times change and all that - and yeah you can be left behind. But the corporate decision-making was more negligent than uninformed.
I will miss the place.
Bingo. There's a great Sears anchoring the Northridge Mall. It's the only store you see face-on from the street. I'll miss it. I think the beginning of the end was when they didn't keep ahead of the curve after they stopped sending their printed catalog. Half the country thought they went out of business then.
Both of the Sears stores where I had a lot of memories were mercifully taken early in the process. They didn't suffer so much. One was in our small home town and the other in a Mall here in Columbus that is now in the not so great part of town.
chop456
01-11-19, 08:55 AM
Ours is now a health club. At least Sears didn't make me feel bad about myself when I walked by.
WickerBill
01-11-19, 11:54 AM
Ours is now a health club. At least Sears didn't make me feel bad about myself when I walked by.
That was either a tiny Sears or it's an enormous health club
chop456
01-14-19, 03:11 AM
A little of both. It wasn't a true mall store and the health club is one of the larger chains. Or so I've read. :D
A little of both. It wasn't a true mall store and the health club is one of the larger chains. Or so I've read. :D
Same thing happened here. A Sears Hardware store closed and a couple of years later a Planet Fitness opened.
The other Sears that isn't in bankruptcy (https://www.cnn.com/2019/01/14/business/sears-hometown-bankruptcy/index.html)
devilmaster
01-15-19, 08:53 PM
The other Sears that isn't in bankruptcy (https://www.cnn.com/2019/01/14/business/sears-hometown-bankruptcy/index.html)
yet. :mad:
Sears chairman prevails in bankruptcy auction for retailer with $5.2 billion bid: sources
(https://www.reuters.com/article/us-sears-bankruptcy-lampert/sears-chairman-prevails-in-bankruptcy-auction-for-retailer-with-5-2-billion-bid-sources-idUSKCN1PA0SW)
Still there, still there...
Sears gets out of bankruptcy alive (https://www.cnn.com/2019/02/07/investing/sears-decision/index.html)
Bankruptcy Court Judge Robert Drain approved the sale of most of the retailer's assets to a hedge fund controlled by Eddie Lampert, the company's chairman, for $5.2 billion. The decision will keep 425 stores open and save the jobs of about 45,000 employees.
devilmaster
02-07-19, 10:27 PM
I suspect a slow drain to finish off the last of them. He made the bid and got the property. Those were the stores he saved, and thats what he always wanted.
Remember the 1980 Superman? Lex Luthor was trying to destroy the San Andreas fault so his cheap bought property bought inland would then become ocean front?
Remember the 1984 Bond film where Max Zorin was trying to destroy the San Andreas fault to destroy silicon valley so he could profit?
When he got Sears under his control, Lampert used its cash reserves to buy back stock. It drained Sears' resources and allowed Lampert a larger share of the company for doing nothing.
Run your business into the ground. To give your retail business money - have your business sell its property (some say at a large discount) to another of Lampert's companies, Seritage. Then your retail business now pays Seritage rent. Its a big shell game to get what he wanted. Turn and burn the property for profit. And he got away with it too. And all those workers, 300 thousand plus across North America only a decade ago, were pushed out, phased out. Income Taxes lost. EI used. We the people had to help a lot of them, using our taxes to help instead of the man and company that caused it.
I ain't no pinko commie. But this was wrong on so many levels. How much of your taxes and my taxes helped this plan?
Criminally liable. Whether this was his supervillian grand plan or just simply the way he got out with billions after failing Sears.
Like I said a long time ago in this thread. He's still a recluse billionaire once its all said and done. Sucks that a quarter of a million people had to suffer for him.
https://business.financialpost.com/real-estate/property-post/how-sears-dying-stores-are-fuelling-a-new-fortune-in-real-estate
Sear selling DieHard brand to Advance Auto Parts (https://www.chicagotribune.com/business/ct-biz-advance-auto-parts-acquiring-sears-diehard-brand-20191223-6dratxczv5ev3g6vxrkqz4czm4-story.html)
In related news, the local KMart closed its doors a few weeks ago. From what I heard from people who went while the ‘going out of business sale’ was in progress they had marked the price of the goods in the store and then discounted them for going out of business. :rolleyes:
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