I don't know much about the downfall of IH, but Sears was pretty much all corporate malfeasance(or just plain stupidity). Everyone saw online sales coming. Sears saw it too, but the people that ran Sears thought they were 'too big to fail'. It could have been reversed in the first 3-4 years, but the CEO just hung on, and hung on to a failing plan.
As a kid, you could order almost anything from Sears. It was the Amazon of catalog shopping. I recall a catalog with almost 1000 pages in it! Craftsman tools, Silvertone guitars and amps, Lalique crystal, Kenmore appliances. Heck, at one time Sears even sold the Ercoupe 2 seat airplane!
But, they got complacent. No one was better at being Sears than Sears. Then, they told you that you can't use any CC except a Sears card! What?! Are you insane? I'm not going to use my Visa, or MC, or Discover? ONLY Sears car or cash? I left $275 worth of merchandise on the register table and drove right over to Target. Easy-peasy.
Sears has no one to blame but themselves. Target grew up, K-mart, and Walmart grew up right in the face of Sears. Then E-bay, Amazon grew up and still Sears wouldn't change. They went down in flames by their own hand. Retail is not a game for amateurs, and Sears was run by idiots right into the ground.
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Today's Featured Article - History of the Nuffield Tractor: Conclusion - by Anthony West. In the last piece I mentioned that Nuffield had reached the stage where they had chosen to drop the "Universal" from production. The two new models were given three figure numbers, instead of "three" and "four". Model numbers were introduced to help farmers and dealers instantly recognize the engine size and horsepower of the tractor, the 4/60 had a four cylinder diesel engine which developed 60 bhp at 2,000 rpm. The 3/42 had a 3 cylinder diesel engine which produced 42 bhp at 2,000 rpm. Th
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