Longtime Retailer Sears & Roebuck files for bankruptcy - Page 3 - ClubLexus - Lexus Forum Discussion

Go Back  ClubLexus - Lexus Forum Discussion > General Forums > The Clubhouse
Longtime Retailer Sears & Roebuck files for bankruptcy >

Longtime Retailer Sears & Roebuck files for bankruptcy

Notices
The Clubhouse The Clubhouse is an area where we can post topics on all kinds of things that are not necessarily related to 'Lexus'.

Longtime Retailer Sears & Roebuck files for bankruptcy

Old 10-30-18, 06:30 AM
  #31  
ArmyofOne
Dysfunctional Veteran
 
ArmyofOne's Avatar
 
Join Date: Sep 2004
Location: Van Alstyne, TX
Posts: 7,211
Thanked 52 Times in 47 Posts
Default

Originally Posted by mmarshall View Post
Had you previously asked the builder/developer of your new house to include a shed with the deal itself, or was this an add-on decision you made after the house was built and you two moved in?
No, This was always in our plans, the builder doesn't offer storage sheds. House only LOL.

Originally Posted by mjeds View Post
it's not just Sears. I just ran into the same issue with Home Depot. nothing like a shed, this was just 2 small parts M22 - 3/8 quick connects for my Pressure washer. ordered online from my local Home Depot 2 miles away, website claimed they had 6 of each in stock. ordered last night at 3:30pm, got the notice to pick up at 4:10 pm. got to the store, was told they didn't have them in stock, they could not locate them. I pointed out the web order site said they had 6, "well, sometimes that's wrong or employees miscount during inventory", But the store 6 miles away has them we can transfer your order there, we called and they have them in stock. Drive to the 6 mile away store to discover they had no idea what I was talking about, no order was transferred and they did not have them in stock.

They offered to order them for me from the store by my office, ok I can get them tomorrow. so the order is placed and at 1:30pm today it is still in "processing" so I called, the idiot that answers the phone says, oh we don't have those, but we can order them for you it will take 2-3 weeks. ARE YOU KIDDING ME.

ordered them on Amazon 10 minutes ago for same day delivery..
Yep, "Prime" example
ArmyofOne is offline  
Old 10-30-18, 11:55 AM
  #32  
mjeds
Lexus Champion
 
Join Date: Oct 2015
Location: CA
Posts: 2,348
Thanked 158 Times in 126 Posts
Default

Originally Posted by ArmyofOne View Post
No, This was always in our plans, the builder doesn't offer storage sheds. House only LOL.



Yep, "Prime" example

and they were waiting for me when I got home from work last night, ordered them @ 5:21 pm on 10/29 Amazon same day delivered them @ 8:14pm on 10/29.



mjeds is offline  
Old 12-06-18, 11:14 AM
  #33  
geko29
Oil Burner
 
Join Date: Feb 2007
Location: IL
Posts: 4,251
Thanked 6 Times in 4 Posts
Default

And now we've reached the endgame:

Eddie Lampert's ESL Investments bids $4.6 billion to acquire Sears

The CEO that ran Sears into the ground is now angling to buy the company and all of its assets at a 93% discount vs. one year ago.
geko29 is online now  
Old 12-06-18, 11:59 AM
  #34  
ArmyofOne
Dysfunctional Veteran
 
ArmyofOne's Avatar
 
Join Date: Sep 2004
Location: Van Alstyne, TX
Posts: 7,211
Thanked 52 Times in 47 Posts
Default

Isn't that illegal?
ArmyofOne is offline  
Old 12-06-18, 12:16 PM
  #35  
geko29
Oil Burner
 
Join Date: Feb 2007
Location: IL
Posts: 4,251
Thanked 6 Times in 4 Posts
Default

Originally Posted by ArmyofOne View Post
Isn't that illegal?
One would think that. But it's not actually Lampert that made the offer, it's his shell company hedge fund. So I suspect he will get away with it, as he's gotten away with nearly all of his previous cons.
geko29 is online now  
Old 12-06-18, 12:49 PM
  #36  
ArmyofOne
Dysfunctional Veteran
 
ArmyofOne's Avatar
 
Join Date: Sep 2004
Location: Van Alstyne, TX
Posts: 7,211
Thanked 52 Times in 47 Posts
Default

I think I will stop doing any business with sears. That's shady as ****.
ArmyofOne is offline  
Old 12-06-18, 01:00 PM
  #37  
Lexus2000
Lexus Champion
 
Lexus2000's Avatar
 
Join Date: Sep 2010
Location: Alberta
Posts: 4,798
Thanked 156 Times in 153 Posts
Default

Originally Posted by ArmyofOne View Post
I think I will stop doing any business with sears. That's shady as ****.
Do they have anything worth buying anymore?
Lexus2000 is online now  
Old 12-06-18, 02:19 PM
  #38  
ArmyofOne
Dysfunctional Veteran
 
ArmyofOne's Avatar
 
Join Date: Sep 2004
Location: Van Alstyne, TX
Posts: 7,211
Thanked 52 Times in 47 Posts
Default

Often. I just bought a shed for the yard from them recently because it was a screaming deal. But at this point I will pay more to not encourage questionable business ethics.
ArmyofOne is offline  
Old 12-06-18, 02:38 PM
  #39  
Lexus2000
Lexus Champion
 
Lexus2000's Avatar
 
Join Date: Sep 2010
Location: Alberta
Posts: 4,798
Thanked 156 Times in 153 Posts
Default

Originally Posted by ArmyofOne View Post
Often. I just bought a shed for the yard from them recently because it was a screaming deal. But at this point I will pay more to not encourage questionable business ethics.
I used to love Sears but they went to crap before they closed, much worse than the stores in the States. On business practices are any of these corporations ethical? Look at Amazon they are run by one of the biggest dirt bags on the planet and take advantage of local governments to an extreme degree. But damn if they are not a convenient way to get good products at a good price.
Lexus2000 is online now  
Old 12-06-18, 09:15 PM
  #40  
bitkahuna
resisting entropy
iTrader: (20)
 
bitkahuna's Avatar
 
Join Date: Feb 2001
Location: Present
Posts: 54,816
Thanked 58 Times in 50 Posts
Default

Originally Posted by Lexus2000 View Post
Look at Amazon they are run by one of the biggest dirt bags on the planet and take advantage of local governments to an extreme degree
Why is bezos a dirt bag?

Originally Posted by geko29 View Post
And now we've reached the endgame:

Eddie Lampert's ESL Investments bids $4.6 billion to acquire Sears

The CEO that ran Sears into the ground is now angling to buy the company and all of its assets at a 93% discount vs. one year ago.
he may be angling for it, but if there's no higher bids then nothing illegal but i suspect no one else wants to touch it with a 10 foot pole.
bitkahuna is offline  
Old 12-06-18, 09:38 PM
  #41  
mmarshall
Lexus Fanatic
Thread Starter
 
mmarshall's Avatar
 
Join Date: Oct 2003
Location: Virginia/D.C. suburbs
Posts: 72,374
Thanked 66 Times in 66 Posts
Default

Originally Posted by bitkahuna View Post
Why is bezos a dirt bag?

I won't necessarily call Bezos himself a dirt bag, but look at the sheer garbage that his beloved Washington Post (which he owns) puts out in the Editorials each day, and you will get a good idea of why it is no longer considered by many to be a credible news outlet any more, but essentialy a tabloid.





mmarshall is offline  
Old 12-06-18, 09:46 PM
  #42  
mmarshall
Lexus Fanatic
Thread Starter
 
mmarshall's Avatar
 
Join Date: Oct 2003
Location: Virginia/D.C. suburbs
Posts: 72,374
Thanked 66 Times in 66 Posts
Default

Originally Posted by geko29
And now we've reached the endgame:

Eddie Lampert's ESL Investments bids $4.6 billion to acquire Sears

The CEO that ran Sears into the ground is now angling to buy the company and all of its assets at a 93% discount vs. one year ago.
Fine, but even if Lampert does manage to buy what's left of the company dirt-cheap, he probably is still going to face the very same problem that drove Sears to Chapter 11 in the first place.....incessant competition from lower-priced stores like Walmart and Target. To bring a dead sheep back to life doesn't do much good if the wolf is just going to break right back in the the sheep-den.
mmarshall is offline  
Old 12-07-18, 04:40 AM
  #43  
geko29
Oil Burner
 
Join Date: Feb 2007
Location: IL
Posts: 4,251
Thanked 6 Times in 4 Posts
Default

Originally Posted by mmarshall View Post
Fine, but even if Lampert does manage to buy what's left of the company dirt-cheap, he probably is still going to face the very same problem that drove Sears to Chapter 11 in the first place.....incessant competition from lower-priced stores like Walmart and Target. To bring a dead sheep back to life doesn't do much good if the wolf is just going to break right back in the the sheep-den.
He doesn't need to worry about that. Sears is sitting on $8B worth of assets in terms of inventory and real estate alone, then the brands (Kenmore, etc) on top of that. Sears does not have to continue as a going concern to make Lampert very very rich. Since the $4.6B bid will include paying back somewhere around $2.5B worth of secured debt to ESL, he'll be getting all of that for right around $950M in cash and stock, plus the assumption of some liabilities.

Originally Posted by bitkahuna View Post
he may be angling for it, but if there's no higher bids then nothing illegal but i suspect no one else wants to touch it with a 10 foot pole
No one will bid higher, he's made sure of that through previous self-dealing. As laid out above, the out-of-pocket costs for any other entity that would bid would be at least $2.5B higher than ESL's bid, because it will have to include a $2.5B cash payment to ESL to settle the secured debt, or surrender substantially all of Sears' real estate holdings to ESL--a lose-lose situation. So making the same exact bid would cost 3.5x as much from a cash/stock perspective (and who in their right mind would give large quantities of their stock to this guy?!?!), even more if they actually wanted to top it.
geko29 is online now  
Old 12-07-18, 09:24 AM
  #44  
bitkahuna
resisting entropy
iTrader: (20)
 
bitkahuna's Avatar
 
Join Date: Feb 2001
Location: Present
Posts: 54,816
Thanked 58 Times in 50 Posts
Default

geko you make it sound like what he's doing is illegal?
bitkahuna is offline  
Old 12-07-18, 09:24 AM
  #45  
ArmyofOne
Dysfunctional Veteran
 
ArmyofOne's Avatar
 
Join Date: Sep 2004
Location: Van Alstyne, TX
Posts: 7,211
Thanked 52 Times in 47 Posts
Default

Wow geko...what a slimebag. Smart as ****, but greasy nonetheless.
ArmyofOne is offline  

Thread Tools
Search this Thread

Contact Us About Us Archive Advertising Cookie Policy Privacy Statement Terms of Service

© 2018 MH Sub I, LLC dba Internet Brands

We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.
 
  • Ask a Question
    Get answers from community experts
Question Title:
Description:
Your question will be posted in: