no its a fact that K-mart bought Sears-- it is also true that Sears purchased quite a few great "locations" from K-Mart for much more than they were worth, just months before the sale giving K-mart ( Ed) the capital to make the purchase,. REMEMBER Alan Lacy was second in command for 2 years and the "left" and took his 84 MILLION package with him. Do you think he holds stock today?? Anybody that has any conception of this company wanting to be a viable retail company is smoking " whacky" tobaccy All that is going on is draining the cash cow. The tipping point was reached Christmas of 2011. It is all downhill from here. The biggest losers will not be the stockholders but the ones who will lose all or most of their pensions. Sears Holdings simply has no cash to pay the retirees, ALL part time employees were included in pension plan in 1980. Best not to lose energy on this slowly ending company... The end is NOT the end.. There IS Life after SEARS...............
Merger smerger-- symantics-- It was a "deal" between Big Ed and LIttle Alan
Ed got Sears -- Alan got 84 Milion. Mr LAcy decided it was too hard to turn Sears around. Others before him probably thought the same ( Martinez left-- Brennen retired- Alan was a CFO not a retail man. Anyhoo -- somewhere back up the line someone threw in the towel. How can you take such a great company in the '50's and in 60 years make it meaningless?? Hire the smart guys who try to make a fast buck instead of grinding out the retail necessities of Keeping shelfs full and being reasonably compettive. Where is Chairman Woods when you need him??
Kfart was bankrupt, couldn't buy a pot to Kiss in. Without Sears money it would have died. Eddie "Merged" the company to get around paying taxes. Why would any respectable "Financial Terrorist" want to pay taxes to that silly, stupid USA government when its laws allow it to say " I pass!" SEC where are you? Eddie needs to be put in his place! How 'bout death row.