GE owned the Ward's portfolio since the 1988 LBO, not as part of the chapter 11. Why would GE do such a dumb thing if they are so smart, flooding the portfolio with bad credit??
Point I am trying to make is that there never was a real turnaround in S, no real strategy developed outside of the same business model. I know people that have worked at S and Ward's and the thing they note at S is that it is still a good ole' boys club when it comes to operational execution.
Martinez can talk all he likes but if the executives under him will not look out for anything but their own self interest this company will continue on its stagnant course to being a second tier retailer, like Wards.