Should Sears and JC penny be allowed to fail?

[pauldeen]

https://m.youtube.com/watch?v=suLWHIUFpQ8

It does not look good for Sears and JC penny. These companies are however too big to fail. The government should prop them up so hundreds of thousands of people do not lose their job.

It looks like Sears had the problem of not having enough sellable items. Their clothes were always boring. The government must provide these struggling retailers with loans.

 

[hogjack]

The government should determine the essential value of all companies and businesses for their ultimate existence.

That's what it has been doing for 8 weeks, picking winners and losers. It's the next step to the socialist dreamland.

 

[pauldeen]

The problem is that if these companies fail. Many will lose their jobs and even more basic income will be needed. All they really need is long term loans. They are American Icons.

 

[OldJourno]

I'd been in the newspaper business since forever when 2008 came along and all those people who had been buying the hard copy suddenly decided it was a lot smarter to get the same thing free on the Internet.
Yes, my newspaper, like almost every other newspaper, was stupidly giving away its product online.
A lot of newspapers didn't make it past 2008, and I'll bet a few that are/were on life support in 2020 have breathed their last.
That's the nature of the free market, and it applies to news, dry goods, groceries, drugs, cars, hardware - you name it. You have to compete for the consumer dollar.

 

[RobDownSouth]

Their business model is unsustainable. Let them die.

 

[Fuzzy1975]

Sears went out of business here a couple years ago, didn't change my life...

 

[hogjack]

Sears was run into the ground over several years by the intentional incompetence of Eddie Lambert. He's screwed more Sears employees and retirees than a $5 hooker at a busy truck stop. Lambert, from the start, was really most interested in the real estate.

JC Penney's has been hit by multiple competitors, online shopping, and the reduced foot traffic in malls. JCP had several misteps in the past decade but has most recently been treading water a big box apparel retailer.

 

[Wrong Element]

My parents had five kids and a military salary, so as you can imagine, Sears was a big part of my childhood. Pretty much all my clothes came from there, and most of our home's appliances.

But I think these retailers are the opposite of "too big to fail." There's a good reason they're failing, and it's not because people don't need cheap clothes and lawn mowers any more.

 

[Rotadom]

The lost Craftsman years ago, for fucks sake.

 

[hogjack]

Their business model is unsustainable. Let them die.

True. But the government has shut down their brick-and-mortar operations. That is proactively forcing their demise.

 

[Pookie]

https://m.youtube.com/watch?v=suLWHIUFpQ8

It does not look good for Sears and JC penny. These companies are however too big to fail. The government should prop them up so hundreds of thousands of people do not lose their job.

It looks like Sears had the problem of not having enough sellable items. Their clothes were always boring. The government must provide these struggling retailers with loans.

They actually aren't very big at all anymore. Sears has gone from over 3500 stores down to around 400. Penney's has gone from a little over 2000 stores to around 850. Both are drowning in debt and have been out of touch with their customers for the past few decades.

It's time for nature to take its course. Penney's will likely outlast Sears, but both are doomed because of their massive debt and overall mismanagement.

 

[NomDeGrrrr]

I thought they already had. Certainly been on the verge forever.

Sears used to be my go-to that was an indicator of what was way too much to pay. The "other" traditional use of the Sears catalog seems prophetic.

 

[Pookie]

The lost Craftsman years ago, for fucks sake.

Yep. It's owned by Stanley Black & Decker now. Go to Lowes if you have to have Craftman. But my dad says their tools are not what they used to be.

 

[pauldeen]

The problem is that these stores cost a lot to maintain. Maintenance and heating costs eliminate any potential profit margin. Employee turnover is also an issue. I once got hired for sears and literally did not show up for work after taking an expensive drug test because I didn't need the job.

 

[bellisarius]

Neither of them kept up with the times. The Sears and Penny's catalog sales model was the precursor of Amazon. Bezos stole a march on them and they never responded.

 

[Klinkster]

Craftsman never made any tools. They were all made by various different tool manufacturers.
For instance, the 'C-3' 19.2V tools, were Ryobi.
Compressors? Many by DeVilbiss.
Wrenchs? Changed through the years, but many were Esco and Danaher.
I have a list of Craftsman by code & prefix, that cross refs who the actual manufacturer was. It's a long list.

New ball game with Stanley.
The Craftsman Ryobi stuff, is gone. Replaced by Dewalt tools.
And that's just the start.

As far as Sears, the gov't has no business bailin' 'em out.
They still have the Kenmore and DieHard brands, which, they will sell, for last dash influxes of cash, into a dead horse.

Let 'em go. Lambert killed 'em. They are just not quite dead yet.

 

[pauldeen]

https://www.youtube.com/watch?v=0dAPghc6-oA

This store did have a lot of cheap appliances. You could buy great refrigerators. As I say, it just loans to refinance the debt. Sears and JCP only need help on intrest payments.

 

[FGB]

https://m.youtube.com/watch?v=suLWHIUFpQ8

It does not look good for Sears and JC penny. These companies are however too big to fail. The government should prop them up so hundreds of thousands of people do not lose their job.

It looks like Sears had the problem of not having enough sellable items. Their clothes were always boring. The government must provide these struggling retailers with loans.

They should form one company from Montgomery Ward, J C Penny and Sears
Call it Monty Seanny!

 

[Lancecastor19]

GB girls need to go on the Pookie Diet.

A good source of Vitamin Splooge.

 

[InsightRiot]

Neiman Marcus filed for bankruptcy today. JCrew filed for bankruptcy a few days ago. Sephora settled with JCPenney today, they are breaking up. Urban Outfitters is doing well for retail.

 

[Klinkster]

https://www.youtube.com/watch?v=0dAPghc6-oA

This store did have a lot of cheap appliances. You could buy great refrigerators. As I say, it just loans to refinance the debt. Sears and JCP only need help on intrest payments.

I have a freezer I bought at Sears, in 1986.
Still freezing.

Like I said, It just depends on who made it for them.

 

[Klinkster]

They should form one company from Montgomery Ward, J C Penny and Sears
Call it Monty Seanny!

He he!

Don't have anything left that we got from Monkey Wards, except a chain saw. Not a Wards brand one though.....probably why it still runs!

 

[Dribble]

Let Republicans buy them out...great deal.

 

[pauldeen]

Well retail stores also have problems with theft. It may be the case that these stores should have remained in business, but got crushed by thieves.

 

[Saint_Ann]

Well retail stores also have problems with theft. It may be the case that these stores should have remained in business, but got crushed by thieves.

When was the last time you were in either store? That may have more to do with their problems.