https://www.newsandguts.com/video/dan-rather-trump-insider-massive-hedge-fund-helped-kill-sears/
6 replies (most recent on top)
This is exactly why the Republicans will win in Nov. If the Democrats keep blaming every little thing on Trump (whom I am not a fan of) then people will see that it is like crying wolf. This type of reporting may play well with those who do not know anything about SHC but those of us who work for Sears/Kmart understand the truth. Sears problems started way before Trump or even Obama. This BK fall squarely on the shoulders of Eddie, his hedge fund, his hand picked board and pure greed.
Where can I find this video (besides Facebook)? I need to hear/view this commentary.
If not a link to the video itself -- which I can't find anywhere! -- I'd appreciate a transcript.
Is this some sort of "Facebook exclusive"?
What does Trump have to do with Sears demise? Nothing. Seems like its grasping for straws here.
Sears' demise is square!y the responsibility of its own leadership or lack thereof. Not the President --current and former, not the customers, not the suppliers, not Amazon, not the employees, not "bad winter weather" (as Eddie reasoned when discussing dismal Q4 results a few years back).
The first blow was failing to innovate and failing to capitalize on an online presence while they had the chance. That wasn't Eddies fault, though, since that boat was missed back in the 90s before the Kmart merger. By the time Eddie and Kmart came along, it was already too late.
The second blow was the failure to invest in the stores, which would have not only included remodeling the existing stores and bolstering inventory, but expanding in stronger markets and cutting loose the stores in weaker markets. This was a problem since the 90s, but not as profound as it is now.
So now the company is being parted out, since its worth more in pieces/parts than as a whole. And all thats really left is Kenmore, DieHard, Innovel, A&E service and maybe a handful of prime real estate properties (stores, warehouses). Maaaaaybe Shop Your Way and its data. After that, the lights are out.
Love it when Sears loves to blame something for their own demise. Eddie has mentioned never planned to invest in the actual stores he never wanted to innovate them in anyway which really hurt the company. They had so many opportunities to compete, but just never did.
I did watch the video, and it implies that the Trump administration is at fault for the demise of Sears, and it's disingenuous and slanted. The video fails to mention the problems with Sears that started well over 25 years ago with the company, and why it needed to be bought out in the first place . The video failed to mention the lack of innovation , the problems that arose in some states with the commission draw and people staying with the company because they were in debt to the company in failing stores (this was in the 1980's) . The list goes on and on and on of problems with sears starting with the corporate culture all the way down to customer service . The drain had opened long before Eddie Lampert and long before Donald Trump.
This was already in play years and years and years ago , blaming this on the current administration is disingenuous at best .