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Tool Talk Discussion Forum

HUH?

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RayP(MI)

11-17-2004 17:06:08




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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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