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Old 12-11-2018, 03:14 AM
Status: "Alive." (set 26 days ago)
 
Location: Pennsylvania
10,007 posts, read 3,416,626 times
Reputation: 7777

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https://nypost.com/2018/12/10/lawyer...-days-of-work/

Just pull the plug on this joke of a company, please. Put everyone out of their misery. It's obvious to anyone who isn't half brain dead that Sears isn't coming back, they have been beaten by better competitors with better management. People will be shopping at Home Depot/Lowes/Wal Mart/Target, etc as we move forward. Sears won't be missed.
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Old 12-11-2018, 06:09 AM
 
Location: Norfolk
1,741 posts, read 2,049,494 times
Reputation: 5596
Quote:
Originally Posted by BeerGeek40 View Post
https://nypost.com/2018/12/10/lawyer...-days-of-work/

Just pull the plug on this joke of a company, please. Put everyone out of their misery. It's obvious to anyone who isn't half brain dead that Sears isn't coming back, they have been beaten by better competitors with better management. People will be shopping at Home Depot/Lowes/Wal Mart/Target, etc as we move forward. Sears won't be missed.

Sears *will* be missed, and their place in history should never be forgotten. In the early 1900s, Sears was a merchandising pioneer in so many ways.

More than 100 years ago, trusting souls would place $7 cash in a little brown envelope and send it to a mail-order business at the corner of Homan and Arthington in Chicago, IL, asking for a sewing machine, or maybe they were sending $19 to get the cream separator. (Those were Sears two best-selling items in the early 1900s.)

Starting in 1908, Sears offered entire houses in their mail-order catalog. The houses were shipped by rail and typically filled a boxcar or two. The 12,000-piece kits came with a 75-page instruction book that told the potential homeowner how to put all those pieces together.

Many young folks don't realize this, but in that time period, "redlining" was the rule of the day. If you were not the right color or ethnicity, you did NOT get a mortgage and that hampered most people from getting a home. Sears broke all the rules of mortgage lending, and asked only one question on their mortgage application:

1) Do you own the lot on which you intend to build?
2) Do you have a vocation?

If you answered yes to either question, you got a mortgage (and a house). And it was a good mortgage, fully amortized, 6-7% interest, and a 15-year term.

Because of this, a disproportionate number of Sears Homes and mortgages were sold to men and women of color, immigrants, and single women. This enabled lots of folks to become homeowners, who would otherwise never had the opportunity.

More than 100 years later, Amazon appeared on the scene and their marketing model was the modern version of Sears and Roebuck.

Sears revolutionized the way America did business and paved the way for other businesses. Plus, Sears and their ancillary companies (manufacturing stoves and other items for Sears) provided employment to countless thousands.

As to their current predicament, I can't resist buying a little bit of their very cheap stock now. I sincerely hope that they pull it out of the fire. They're an American icon, and I hate to see them go.

One of their legacies: More than 70,000 of the pretties little kit homes that you ever did see, scattered throughout the county. Here's a picture of a Sears kit house in Benson, North Carolina.This was the "Magnolia" and it was their biggest and best kit home. It cost $5,900 in 1920.





*
And here's a Sears Magnolia in Canton, Ohio:



*
Sears Magnolia in northern West Virginia:



*
In case anyone is wondering, these photos are my own, and yes, I am an expert on Sears!
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Old 12-11-2018, 06:15 AM
 
Location: Norfolk
1,741 posts, read 2,049,494 times
Reputation: 5596
PS. to the loquacious post above: Sears offered 370 models during their 32 years in the kit house business. The Magnolia was the biggest and the best. And my favorite. There are only NINE known "Maggies" in the country but there are probably a few more, heretofore undiscovered.
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Old 12-11-2018, 07:07 AM
Status: "Alive." (set 26 days ago)
 
Location: Pennsylvania
10,007 posts, read 3,416,626 times
Reputation: 7777
Quote:
Originally Posted by RosemaryT View Post
Sears *will* be missed, and their place in history should never be forgotten. In the early 1900s, Sears was a merchandising pioneer in so many ways.

More than 100 years ago, trusting souls would place $7 cash in a little brown envelope and send it to a mail-order business at the corner of Homan and Arthington in Chicago, IL, asking for a sewing machine, or maybe they were sending $19 to get the cream separator. (Those were Sears two best-selling items in the early 1900s.)

Starting in 1908, Sears offered entire houses in their mail-order catalog. The houses were shipped by rail and typically filled a boxcar or two. The 12,000-piece kits came with a 75-page instruction book that told the potential homeowner how to put all those pieces together.

Many young folks don't realize this, but in that time period, "redlining" was the rule of the day. If you were not the right color or ethnicity, you did NOT get a mortgage and that hampered most people from getting a home. Sears broke all the rules of mortgage lending, and asked only one question on their mortgage application:

1) Do you own the lot on which you intend to build?
2) Do you have a vocation?

If you answered yes to either question, you got a mortgage (and a house). And it was a good mortgage, fully amortized, 6-7% interest, and a 15-year term.

Because of this, a disproportionate number of Sears Homes and mortgages were sold to men and women of color, immigrants, and single women. This enabled lots of folks to become homeowners, who would otherwise never had the opportunity.

More than 100 years later, Amazon appeared on the scene and their marketing model was the modern version of Sears and Roebuck.

Sears revolutionized the way America did business and paved the way for other businesses. Plus, Sears and their ancillary companies (manufacturing stoves and other items for Sears) provided employment to countless thousands.

As to their current predicament, I can't resist buying a little bit of their very cheap stock now. I sincerely hope that they pull it out of the fire. They're an American icon, and I hate to see them go.

One of their legacies: More than 70,000 of the pretties little kit homes that you ever did see, scattered throughout the county. Here's a picture of a Sears kit house in Benson, North Carolina.This was the "Magnolia" and it was their biggest and best kit home. It cost $5,900 in 1920.





*
And here's a Sears Magnolia in Canton, Ohio:



*
Sears Magnolia in northern West Virginia:



*
In case anyone is wondering, these photos are my own, and yes, I am an expert on Sears!
Rosemary Sears was great back in the day but that's the 1900's not any longer. Their common stock is going to be worth nothing in another ___ number of months. Don't go with your heart on this one, go with your head.
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Old 12-12-2018, 09:40 PM
 
344 posts, read 526,264 times
Reputation: 471
My Grandmother had a Sears house in Ohio and I remember as a child how big that house seemed at the time. It was erected sometime in the '30's and is still standing today. I can't imagine some of the junk they're passing off for homes lasting 80 some years from now. But I digress.

Sears business model is outdated and their management out of touch for a generation. Their opportunity to downsize from anchor stores should've started a long time ago and they're so far under water now that, if they miraculously survive, they'll be a shell of their former selves. Just would not like to see them end up like Montgomery Ward.
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Old 12-13-2018, 08:01 AM
 
3,927 posts, read 2,167,786 times
Reputation: 6825
Sears as we know it has been circling the drain since 2000 so I say good riddance.

The original Sears was a completely different company that what the facade is today or has been for some time. Pennys Marshals Service Merchandise Circuit City were all great retail location. Macys actually carried luxury goods and Kmart was the Target of today.

None of these businesses adapted over time to a changing economy. Hasta luego
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Old 12-13-2018, 06:34 PM
 
Location: Norfolk
1,741 posts, read 2,049,494 times
Reputation: 5596
Quote:
Originally Posted by BeerGeek40 View Post
Rosemary Sears was great back in the day but that's the 1900's not any longer. Their common stock is going to be worth nothing in another ___ number of months. Don't go with your heart on this one, go with your head.

Yeah, it's sad to see it go away. I visited Sears corporate headquarters (to do research) in 2004, and I had a sinking feeling then that they weren't going to last much longer.
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Old Today, 07:14 AM
 
Location: Amelia Island
2,656 posts, read 3,729,497 times
Reputation: 2474
As said Sears was an icon and while I do not have a business degree and have never been in retail I believe if someone other than Eddie Lampert had taken over in 2005, Sears could have indeed been saved.

At 58 it's hard for me not to feel nostalgic about Sears. They were everything growing up. The stores had literally everything you needed. An amazing catalog sales infrastructure and a pretty solid name brand with tools, appliances, clothing, paint and many other products including a place to eat, portrait studio, automotive needs and more.

Again it is a damn shame a resourceful team could not have been put together with the knowledge, technological and innovative savvy needed to pull off a turn around. I really believe with a stronge and smaller presence they could of survived instead of being surgically dismantled by Mr. Lampert.

We shall see tonight if today indeed marks the final nail in what was once a great company!
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Old Today, 07:26 AM
Status: "Alive." (set 26 days ago)
 
Location: Pennsylvania
10,007 posts, read 3,416,626 times
Reputation: 7777
Quote:
Originally Posted by JBtwinz View Post
As said Sears was an icon and while I do not have a business degree and have never been in retail I believe if someone other than Eddie Lampert had taken over in 2005, Sears could have indeed been saved.

At 58 it's hard for me not to feel nostalgic about Sears. They were everything growing up. The stores had literally everything you needed. An amazing catalog sales infrastructure and a pretty solid name brand with tools, appliances, clothing, paint and many other products including a place to eat, portrait studio, automotive needs and more.

Again it is a damn shame a resourceful team could not have been put together with the knowledge, technological and innovative savvy needed to pull off a turn around. I really believe with a stronge and smaller presence they could of survived instead of being surgically dismantled by Mr. Lampert.

We shall see tonight if today indeed marks the final nail in what was once a great company!
Today could be it.....and a full two years after I predicted they would fold up.


The only thing at all that makes me upset is that Sears still employs 68,000 people and they are going to be job hunting. However I am quite confident that many of these folks will find employment at competitors. The jobs are out there.
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Old Today, 01:48 PM
 
Location: SDL/PDX/RDU
4,409 posts, read 2,332,678 times
Reputation: 5235
Remarkably enough they had every bit of the the infrastructure to take the catalog business into the online world. Right down to being part of the joint venture with IBM and others that made up the Prodigy online service back in the day.
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