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Tool Talk Discussion Forum

OT- Kmart-Sears merger

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Author

11-17-2004 15:37:37

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Did anyone else hear about the Sears-Kmart merger. I am not a fan of either, but I do buy and use a lot of craftsman tools. I hope Kmart don't screw this up, The board of directors is made up of 10 people, 7 from Kmart and 3 from Sears.

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PJW

11-20-2004 06:23:08

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Re: OT- Kmart-Sears merger in reply to JT, 11-17-2004 15:37:37

The only thing I hate worse then Kmart and Sears is Wally Mart. Get use to it big business and government are our masters. My theory! There is no way the rich or big business will allow the working stiff to invest in 401K plans to become independent. A poor working stiff tries to secure his retirement by saving all his life only to have these clowns manipulate the investments and drive the money right from slaves reach. How are Kmart / Sears any different from the large drug or auto companies? At one time retirement plans were promised form these large companies. With SS and 401K�s the working stiffs starting to make some progress. Now, watch the retirement plans are all but gone. SS will be broke and 401K�s will be driven down to pennies!

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Dave F.

11-18-2004 05:46:45

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Re: OT- Kmart-Sears merger in reply to JT, 11-17-2004 15:37:37

What PSSS me off about the whole thing, When k-mart went bankrupt. my stock was worth .05 a share then they canceelled the old stock & Isued new stock around $13.00 a share. leaving a lot of us with worth less stock. Now K-mart has the money to buy sears for $11 billion dollars. Sounds like another Enron Scam. which should be Investigated. & K-mart should be made to make good on there worthless stock & reinburse the stock holders with stock at current market value before they can buy sears. which will probably be a thing of the past. Like Montgomery Wards Dave F.

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Midwest redneck

11-18-2004 08:18:13

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Re: OT- Kmart-Sears merger in reply to Dave F., 11-18-2004 05:46:45

Amen, they are crooks. plain and simple. Martha Stewart should have company with her, all the execs of the K-mart corp.

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Midwest redneck

11-18-2004 02:15:34

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Re: OT- Kmart-Sears merger in reply to JT, 11-17-2004 15:37:37

I agree with Steve on this, Kmart sucks, Sears aint much better. Will the new merger be called S-mart, I hope not.... maybe S-tupid. I work 5 minutes away from the K-mart headquarters in Troy Mi. It amazes me all the high mucky mucks that walk around in the summer time when I drive by. No wonder K-mart was in Bankruptcy, too many arseholes getting paid big money to look important. That former CEO should hang from a rope. K-mart stores have always been a rathole, unkept, the stores smell like old popcorn, white trash customers, and employees. Well Walmart isnt much better. Iam done ranting now.

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Steve Crum

11-17-2004 20:43:39

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Re: OT- Kmart-Sears merger in reply to JT, 11-17-2004 15:37:37

You suppose Bob will give Martha a good deal and training on a genuine craftsman hacksaw?

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Davis In SC

11-17-2004 19:36:24

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Re: OT- Kmart-Sears merger in reply to JT, 11-17-2004 15:37:37

My Guess is that the entire K-Mart/ Sears Thing will be ancient history in less than 5 years..

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Coloken

11-17-2004 19:19:52

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Re: OT- Kmart-Sears merger in reply to JT, 11-17-2004 15:37:37

I can just see Martha using her new cresent wrench, and Bob wearing his new "made in China" $2.98 shirt. No friends, it is all about CEO s making money on stock options.

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James in North Carolina

11-17-2004 19:15:37

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Re: OT- Kmart-Sears merger in reply to JT, 11-17-2004 15:37:37

I absolutely loathe K-Mart. I stopped going to our local K-Mart superstore about 5 years ago. Instead of stocking the shelves, it looked like the employees opened the cases of merchandise and dumped them on the floor.

The store was always dirty. Half the time when I left, the theft alarm by the door went off because the incompetent cashier didn"t deactivate the anti-theft tag.

The last straw was when a buddy and I went there so he could buy a model 94 Winchester. Nobody in the store would sign the paperwork to sell it to him. Even the asst. managers wouldn"t sign the paperwork. They finally told him he would need to come back when the head manager was in.

Appliances and tools are keeping Sears afloat. Why they think becoming part of Krap-Mart will help them is beyond me.
James

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Georgia Boy

11-17-2004 18:50:56

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Re: OT- Kmart-Sears merger in reply to JT, 11-17-2004 15:37:37

Well, I'll defend both K-mart and Sears. When I need a hand tool or an appliance I head straight for Sears. There is a K-mart close to my house, why would I pass it and go to Wal-mart, which is a fascist state unto itself?

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Steve Crum

11-17-2004 18:26:20

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Re: OT- Kmart-Sears merger in reply to JT, 11-17-2004 15:37:37

I never liked Kmart even if it is local, Sears is a 40 mile round trip so it isn't everyday shopping. Bob Vila is a weenie, so I wouldn't buy Craftman tools on his recommendation anyway and I can't stand Martha Stewart so I haven't been in a Kmart in quite some time. Walmart opened locally about the same time as Martha Stewart started hawking her trash at Kmart so that cinched it. Most tools come off the Mac or snap-on truck or from the local S-K dealer and hand power tools from the local Milwaukee dealer or ebay. I quit using "home owner" tools as soon as I could afford better, and using the better tools now, I've realized I would have been money ahead to have bought the good tools to start with.
The whole merger story is on MSNBC now at your local computer.

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JHesler

11-17-2004 18:06:26

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Re: OT- Kmart-Sears merger in reply to JT, 11-17-2004 15:37:37

They'll still say Craftsman on them but you might have to send to China for the replacement on that next wrench that breaks.

Does this mean that Bob Vila and Martha Stewart are going to co-host Craftsman commercials? How about Martha's kitchen? Will Bob find a slot there?

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Phil from Maryland

11-17-2004 17:19:20

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Re: OT- Kmart-Sears merger in reply to JT, 11-17-2004 15:37:37

Having been in senior management I can tell you this. When you are having troubles with your market and your growth for the next few years is flat or negative then you need to get the stock holders mind off of the duldrum of the everyday business and inject some excitment (and chaos to detract focus from bottom line) into the place. A great way to do this is to raise some money and find a good acquisition target.

It creates many new challenges surrounding integration and opens up the company for all kinds of different products updates and changes. That gets middle level management excited and they start to work harder and care. This whole thing can also be read as "The board & stock holders can be told things are going to get really good so hang in there!".

Hopefully then stock prices go up and you have more money to overhaul and really make things work. If you do not then the senior management team is out looking for new jobs... Happens all the time.

With that said there is a reason why I am no longer in senior management. I did not have the ego nor the arrogance needed to function at that level.

Phil

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Leland

11-17-2004 22:47:25

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Re: OT- Kmart-Sears merger in reply to Phil from Maryland, 11-17-2004 17:19:20

Thats why I sold my kmart stock today ,I bought a bunch when kmart was in chapter 7 or was it 11,well it don't matter after only paying .37 cents per share I can now run to snap on truck and have a nice shopping trip.

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RayP(MI)

11-17-2004 17:06:08

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HUH? in reply to JT, 11-17-2004 15:37:37

What I heard was that KMart bought out Sears. Don't quote me on this, but I think I heard a price in the $17 BILLION range. (I'll be watching the 11:00news fer sure!) The plan is that Kmart will start carrying some of the Sears stuff, and vice-versa. My problem with this is that KMart was flat on their back recently, filing bankruptsy for protection from their creditors. Closing down stores by the dozens. WHERE'D ALL THE MONEY COME FROM? Must have been one heckova BLUE LIGHT SPECIAL!

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RayP(MI)

11-18-2004 02:31:10

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CORRECTION in reply to RayP(MI), 11-17-2004 17:06:08

The figure given last night on the news was 11 BILLION, not as I stated above, sorry!

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VERN-MI

11-18-2004 11:52:06

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Re: CORRECTION in reply to RayP(MI), 11-18-2004 02:31:10

Look at what Kmart will have to do to finance its $11 billion purchase of Sears. The market cap of Kmart is only $10.2 billion to begin with. That means it is spending more on Sears than it is worth itself. Talk about swallowing a whale!

Kmart has 89 million shares outstanding, but it will need to issue another 97 million shares to raise $11 billion. That is more than twice as many shares as before � not good.

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Leland

11-17-2004 22:53:08

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Re: HUH? in reply to RayP(MI), 11-17-2004 17:06:08

they(kmart) raised a lot of money by selling off property in down town LA and San fran cisco and other large citys for millions,and that is reason why I sold all my stock before they run it in the ground

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Kevin2

11-17-2004 18:09:08

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Re: HUH? in reply to RayP(MI), 11-17-2004 17:06:08

Well, Kmart declared bankruptcy, made the stock worthless, screwed all the employees out of their 401ks, closed the pension, voided all their leases,reopened, signed leases where they wanted to stay, paid the board 25 million in bonuses and proceeded to do nothing different. They hoarded cash as the new company, sold 100 stores to Home Depot and Sears to convert, throwing hundreds more out of work in addition to the 10000 previously. Last I heard, they were sitting on 2 BILLION in cash that they stole from the employees. Now do you understand American Business 101?

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Leland

11-17-2004 22:55:37

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Re: HUH? in reply to Kevin2, 11-17-2004 18:09:08

Yeah Kevin you should have jumped on kmarts stock when it was selling for .37 cents per share look at what a thousand dallors at that is worth today.

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BobMo

11-18-2004 15:35:35

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Re: HUH? in reply to Leland, 11-17-2004 22:55:37

Leland, you are wrong. No current K-Mart stock ever sold for 37 cents. The stock that was 37 cents is now worth (zip), 0, noda. Don't plan on doing any shopping with the proceeds from any 37 cent stock...

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Leland

11-18-2004 15:45:51

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Re: HUH? in reply to BobMo, 11-18-2004 15:35:35

bought before they were kicked off nyse and broker sold it the other day rejoyce.

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BobMo

11-22-2004 13:40:30

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Re: HUH? in reply to Leland, 11-18-2004 15:45:51

Sorry Leland, what you say isn't true..... ...

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Leland

11-22-2004 16:11:26

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Re: HUH? in reply to BobMo, 11-22-2004 13:40:30

That is what I pay this guy for and this is what he has told me,And he has not lost much of my money yet so BOB belive it or not it does not matter to me moneys in the bank.

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Dale in WV

11-17-2004 17:04:40

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Re: OT- Kmart-Sears merger in reply to JT, 11-17-2004 15:37:37

Haven't you heard? Instead of chromed tools they're selling color coordinated Martha inspired pastels...

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Bob

11-17-2004 16:11:49

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Re: OT- Kmart-Sears merger in reply to JT, 11-17-2004 15:37:37

Do you own Sears stock or why do you care if they "screw it up"?

As it is now, a person sure can't afford to order Sears parts! They have the highest prices, and outrageous shipping and handling charges!

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Slowpoke

11-19-2004 00:35:01

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Re: OT- Kmart-Sears merger in reply to Bob, 11-17-2004 16:11:49

Bob... send an email about the van.

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TomH

11-17-2004 15:48:30

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Re: OT- Kmart-Sears merger in reply to JT, 11-17-2004 15:37:37

I don't understand that merger. Neither store seems to be doing very well on its own.

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Robert in W. Mi.

11-17-2004 16:37:54

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Re: OT- Kmart-Sears merger in reply to TomH, 11-17-2004 15:48:30

There both doing poorly, and i bet the merger won't help!!!! I NEVER liked K-mart, and when Sears quit there catalog, i pretty much quit them....

Robert

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