It's been a long time since I visited this forum.
Sears is a thing of the past for me, but I will never stop wondering whether the top dogs wanted to actually save this company or not?
I'm becoming increasingly convinced that there was no interest in saving what could be saved.
7 replies (most recent on top)
I remember that. They took g-ns away from our lp after that happened.
In 2007 at the El Paso store, LP attempted to detain a member of a cartel which I will not name, after a several month long investigation into a gift card scam. An intense 3 hour fire fight erupted. In all 7 cartel members perished, one of them looked not more than 12 years old. The surviving members fled for the Mexican border. No associates or customers were harmed during the ordeal thanks to the heroic efforts of LP.
Loss prevention agents are some of the highest ranking associates in the company. They always have and still do what's in the best interest of saving the company. Mods please deleted this thread for spreading false information.
We're talking about two long standing iconic retailers, (Sears & Kmart) who were a big part of the American economy and the American landscape. Who didn't know about or go to Sears/Kmart growing up?
My opinion is they were worth at least attempting to save. But as stated here, sadly Mr. Lampert was only interested in squeezing whatever real estate value he could out of what was left of sears/kmart.
Could'a, Should'a, Would'a Can't spend too much time looking in the rearview mirror.
@odl. Old news. People have known this for years. It was simply a real estate play.
A few years ago, I read an article in The Wall Street Journal detailing how Eddie Lampert, during his time on the board of Sears - and before becoming the owner - only wanted to discuss was the value of underlying real estate and not store operations, profitability, etc.
So the Board was fully cognizant of his intentions when Alan Lacy, et al., sold the company.
And that means there was never going to be a real attempt to save the company. It was just a game of keeping the lights on long enough to maximize the lease and property values. (Which, in retrospect, seems to have been a poorly conceived plan anyway due to the way the retail market shifted in the past fifteen years.)