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Started By
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re: Sears Rejects Lampert Bid, Cue Up the Fat Lady
Posted on 1/8/19 at 8:27 am to LSUFanHouston
Posted on 1/8/19 at 8:27 am to LSUFanHouston
quote:
But my goodness, business school students will be studying him to learn how NOT to run a retail business.
Lambert has made way more than his salary by being chairman of Sears. There’s a huge amount of improper mixing between his personal investments and Sears. He makes a lot of money by taking advantage of Sears. The ethics of it are terrible, but he’s a smart guy to make a fortune off them the way he has
0
Posted on 1/8/19 at 8:28 am to LSUFanHouston
Well I guess my extended warranty through Sears for my fridge is worthless.
Sweet.
Sweet.
Posted on 1/8/19 at 8:28 am to fallguy_1978
quote:
I know they are losing money and their stock is like $1 now. Maybe Sears going under will help them some. They will be the low cost anchor in most malls now.
From $85 to $1 in 10 years. I'd definitely say they're trending towards out of business.
Posted on 1/8/19 at 8:35 am to nugget
quote:
From $85 to $1 in 10 years. I'd definitely say they're trending towards out of business.
It's really bad, don't get me wrong, but they did offer nearly a billion dollars worth of shares in that time frame.
They will almost assuredly never return to where they were, but I don't think they'll go out of business either. They've actually done an OK job of turning things around after the disaster in 12-14
Posted on 1/8/19 at 8:35 am to choupiquesushi
Amazing how one small miscalculation or lack of vision can change the course of a business. Blockbuster had the chance to buy Netflix multiple times. Excite once had the chance to buy Google for less than a million dollars. Sears failed to leverage what they had in the Sears catalog.
This post was edited on 1/8/19 at 8:37 am
Posted on 1/8/19 at 8:37 am to LSUFanHouston
Sears was slowly dying 20 years ago. Other than appliances and tires, what were they selling? Shitty clothes and jewelry that could be purchased at Walmart for less.
Posted on 1/8/19 at 8:37 am to Ace Midnight
quote:
Before there was an online marketplace, Sears OWNED the retail mail order space. OWNED it - particularly at Christmas time. What an utter failure not to leverage that to an online business before Amazon even get its feet underneath it.
This is what blows my mind. They had everything in place to be successful with an online operation.
Posted on 1/8/19 at 8:43 am to Mingo Was His NameO
quote:
Walmart has done light years better. They have a very successful online retail business, and it's only gotten better in the last 2 or 3 years through acquisitions.
I was probably a tad harsh - and you're right. Wal-Mart seems re-envigorated to fight Amazon online, particularly recently.
It just feels too little, too late. I mean, I did make my last mini-major purchase via Wal-Mart online, but it stands out.
Posted on 1/8/19 at 8:44 am to Cdawg
quote:
Sears did have an online presence as part owner of Prodigy. They sold it's stake in 1996.
Yes, I was on Prodigy in 1991. Sears could be Amazon right now. Sears already had in place the warehouses and infrastructure that Amazon had to develop. A huge lack or foresight and vision.
Sears was selling houses -- complete fricking houses -- through the mail 100 years ago, and failed to get on board the online train. (despite being an early adopter with Prodigy)
Posted on 1/8/19 at 8:46 am to Ace Midnight
The internet didn't cause the initial decline of Sears. Walmart and malls did. Companies like EBay and Amazon just put the final nail in the coffin.
Until Amazon is ready to open physical retail locations, Walmart will be able to retain enough of the market to be really successful.
Until Amazon is ready to open physical retail locations, Walmart will be able to retain enough of the market to be really successful.
Posted on 1/8/19 at 8:46 am to LSUFanHouston
I’m pretty sure our very own Chicken helped make Sears the company it is today.
Posted on 1/8/19 at 8:49 am to Tyga Woods
quote:
Until Amazon is ready to open physical retail locations, Walmart will be able to retain enough of the market to be really successful
Yeah Walmart has the brand recognition,, capital, physical infrastructure, and logistics to make a huge online play if they are smart. They seem to be doing most things right and the moment so we will see what happens. Amazon has become less novel and hip as it's become so mainstream that Walmart can claw their way back into this thing.
I'm interested to see how things shake out.
Posted on 1/8/19 at 8:50 am to LSUFanHouston
Sears sealed its fate by never evolving.
This has been coming on for the last twenty plus years.
This has been coming on for the last twenty plus years.
Posted on 1/8/19 at 8:55 am to fallguy_1978
quote:
I don't think JCPenney will be with us much longer either.
no question about that
Posted on 1/8/19 at 9:01 am to cuyahoga tiger
quote:
I don't think JCPenney will be with us much longer either.
no question about that
I think they’ll be fine for another decade or so. A large percentage of the population still wants to go into a store and try on clothes. Women still like to walk aisles and hunt for bargains. As long as they can keep their operating costs under control they can still be successful.
Posted on 1/8/19 at 9:02 am to cuyahoga tiger
This thread gives me the sads.
I miss the days of being a preteen back in the early 90s and walking through Mervyn’s, “Penneys” and the like looking at all of the interesting gift ideas they set around on tables. Mervyns had the Christmas Village, which my mom still sets up with my kids every year. Times were great back then and I wish my kids could experience growing up like I did. Thanks for listening
I miss the days of being a preteen back in the early 90s and walking through Mervyn’s, “Penneys” and the like looking at all of the interesting gift ideas they set around on tables. Mervyns had the Christmas Village, which my mom still sets up with my kids every year. Times were great back then and I wish my kids could experience growing up like I did. Thanks for listening
Posted on 1/8/19 at 9:04 am to LSUFanHouston
quote:
I don't think Lampert did anything criminal.
He was the CEO of the company and steered it into bankruptcy, then later made a bid to buy it out of bankruptcy at a discount because he wanted its parts. You're going to tell me that's not a little fishy, at the very least? It seems to me that he had ZERO interest in that company surviving.
This post was edited on 1/8/19 at 9:06 am
Posted on 1/8/19 at 9:08 am to TigerstuckinMS
So you think Lampert wanted Sears to fail so he could personally benefit?
Posted on 1/8/19 at 9:10 am to Tyga Woods
quote:
So you think Lampert wanted Sears to fail so he could personally benefit?
I can understand the ethics arguement but I don't see how he benefits from running the company way down the shitter and then buying it. This is going to be a long painful rebuild were it to happen.
Maybe I'm wrong, I'm just failing to see where he benefits
Posted on 1/8/19 at 9:10 am to Tyga Woods
quote:
So you think Lampert wanted Sears to fail so he could personally benefit?
It sure seems like that's a possibility. It's certainly not an arm's length transaction he was trying to pull off.
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