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Old 12-04-2011, 12:45 PM
 
Location: Cleveland, Ohio
233 posts, read 454,190 times
Reputation: 80

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Governor Kasich is trying to lure Sears to Ohio which is fine but he is willing to throw upwards of $400 million dollars at them?! This is outrageous because for one Sears is on a downward spiral, and two he said Ohio is broke and cut funding for schools and local governments but goes and tries this?! I'm just shocked and also if Ohio gets Sears why isn't Cleveland an option? Cleveland has a smaller Metro unemployment percentage, experiencing a larger economic and developmental boom, and the rents in some office buildings that sit empty (Superior and E.9th) and could also have the naming rights

http://www.cleveland.com/open/index....o_sears_o.html

Last edited by Mr216; 12-04-2011 at 01:10 PM..
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Old 12-04-2011, 12:48 PM
 
Location: Cleveland bound with MPLS in the rear-view
5,509 posts, read 11,848,221 times
Reputation: 2501
Good question, however, I know NOTHING about this. If Sears came to anywhere in Ohio, why do you think Cleveland would be the best option? I'm not saying it isn't, but just curiuos why you think it is.
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Old 12-04-2011, 01:07 PM
 
Location: Cleveland, Ohio
233 posts, read 454,190 times
Reputation: 80
Quote:
Originally Posted by west336 View Post
Good question, however, I know NOTHING about this. If Sears came to anywhere in Ohio, why do you think Cleveland would be the best option? I'm not saying it isn't, but just curiuos why you think it is.
I listed my reasons in my original post...
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Old 12-04-2011, 01:07 PM
 
Location: OH
364 posts, read 714,240 times
Reputation: 483
Don't tell me this idea has resurfaced! I heard about this a few months back, but I didn't think there was any serious consideration of it. I think it would be foolish to bring Sears here to Ohio since it's essentially a sinking ship. They've been seeing net losses for a while now, which has led to a lot of layoffs and store closures. They're also in a major indentity crisis right now. They can't decide if they want to be an automotive store, hardware shop, home improvement store, or a large clothing retailer. Sears is launching the "Kardashian Kollection" however, so that should resuscitate their brand.
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Old 12-04-2011, 02:07 PM
 
4,823 posts, read 4,925,066 times
Reputation: 2162
Quote:
Originally Posted by Wahl_Wrighter View Post
Don't tell me this idea has resurfaced! I heard about this a few months back, but I didn't think there was any serious consideration of it. I think it would be foolish to bring Sears here to Ohio since it's essentially a sinking ship. They've been seeing net losses for a while now, which has led to a lot of layoffs and store closures. They're also in a major indentity crisis right now. They can't decide if they want to be an automotive store, hardware shop, home improvement store, or a large clothing retailer. Sears is launching the "Kardashian Kollection" however, so that should resuscitate their brand.
The idea is back on the front burner because Illinois, the home state of Sears for 100+ years, has turned down tax incentives to keep Sears. So, even Illinois doesn't care if Sears stays because it knows Sears is history. Now, for some reason, Kasich will give up $400 million to get Sears in Columbus. The same amount of money the Fed. Gov was giving Ohio for hi-speed rail connections which Kasich turned down. Kasish probably thinks the Kardashians will save Sears, which they won't.

Sears approached Columbus; it has a large distribution center there and Columbus is a retail hub of sorts so it's on Sears list of relocation options anyway.

Kasich doesn't like Cleveland anyway, so don't expect much out of him for NE Ohio in general and Cleveland in particular.
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Old 12-04-2011, 02:09 PM
 
Location: Cleveland bound with MPLS in the rear-view
5,509 posts, read 11,848,221 times
Reputation: 2501
Quote:
Originally Posted by Mr216 View Post
I listed my reasons in my original post...
Sorry, I was looking for more supply and demand factors, like employees with retail experience, suppliers, etc. I don't think LOWER unemployment would be any kind of factor whatsoever, in fact, HIGHER unemployment would be a better reason to create new jobs. Neither do I think available downtown office space makes too much difference either (except if that space is SUPER cheap, then yes).
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Old 12-04-2011, 11:07 PM
 
Location: Cleveland Suburbs
2,554 posts, read 6,888,247 times
Reputation: 619
Quote:
Originally Posted by Wahl_Wrighter View Post
Don't tell me this idea has resurfaced! I heard about this a few months back, but I didn't think there was any serious consideration of it. I think it would be foolish to bring Sears here to Ohio since it's essentially a sinking ship. They've been seeing net losses for a while now, which has led to a lot of layoffs and store closures. They're also in a major indentity crisis right now. They can't decide if they want to be an automotive store, hardware shop, home improvement store, or a large clothing retailer. Sears is launching the "Kardashian Kollection" however, so that should resuscitate their brand.
Exactly what I am thinking about it all too.
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Old 12-05-2011, 12:11 AM
 
Location: Cleveland, OH USA / formerly Chicago for 20 years
4,068 posts, read 7,292,745 times
Reputation: 3062
Quote:
Originally Posted by Wahl_Wrighter View Post
Don't tell me this idea has resurfaced! I heard about this a few months back, but I didn't think there was any serious consideration of it. I think it would be foolish to bring Sears here to Ohio since it's essentially a sinking ship. They've been seeing net losses for a while now, which has led to a lot of layoffs and store closures. They're also in a major indentity crisis right now. They can't decide if they want to be an automotive store, hardware shop, home improvement store, or a large clothing retailer. Sears is launching the "Kardashian Kollection" however, so that should resuscitate their brand.
There's currently a thread about Sears possibly leaving Illinois on the Chicago forum, and the general attitude there appears to be, "Let 'em go. Sears is going to be history soon anyway, let Ohio deal with it."
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Old 12-05-2011, 12:27 AM
 
16,345 posts, read 18,008,103 times
Reputation: 7879
Quote:
Originally Posted by andrew61 View Post
There's currently a thread about Sears possibly leaving Illinois on the Chicago forum, and the general attitude there appears to be, "Let 'em go. Sears is going to be history soon anyway, let Ohio deal with it."
Is this really a foregone conclusion or is that what people are saying, in Illinois because they don't want to make it a big deal if they move, and in Ohio because we're afraid of disappointment? Many many companies go through periods of treading water or downturns. Some reinvent and come back, others don't, but I'm struggling to understand how a company can still be doing $23 billion a year and be totally irrelevant and a blink away from bankruptcy.
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Old 12-05-2011, 11:50 AM
 
306 posts, read 819,432 times
Reputation: 169
Quote:
Originally Posted by jbcmh81 View Post
Is this really a foregone conclusion or is that what people are saying, in Illinois because they don't want to make it a big deal if they move, and in Ohio because we're afraid of disappointment? Many many companies go through periods of treading water or downturns. Some reinvent and come back, others don't, but I'm struggling to understand how a company can still be doing $23 billion a year and be totally irrelevant and a blink away from bankruptcy.
If all my research is correct, Sears hasn't had a profitable quarter this year. They lost over $400 million during the latest quarter. On top of that, their numbers have been dropping very badly the last several years. Their sales have declined for 19 straight quarters. They have been on a downward spiral, and the merger with Kmart has only accelerated that for the most part. Kmart has held up better than Sears but its not helping much. They are spinning off their OSH home improvement chain, which is one their few consistently profitable units.

I wouldn't count Sears as dead but things aren't looking good for the short term. The goal of Sears is really to transform into an "amazon-like" company. They have experimented with storefronts that are basically just places to pick up merchandise. Eddie Lampert would really like to move them towards an online business and make money off of Sears' real estate. The real estate was the number one reason he ever invested in Kmart and Sears.

I think part of their problem stems from all the experiments they've tried. They've gone through at least six different store formats the past decade or so. Instead of experimenting so much, they should go back to basics. Clean up the stores, make them nicer to shop at and not so dingy. If not, focus on the online sales and close most of the stores.
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