Kohl's got their start here in Wisconsin, and have been extremely successful, to the point that other chains study their store layout and operations. They should be a huge step up from K-Mart. The owner of the Milwaukee Bucks, Senator Herb Kohl, is a son of the chain's founder Max Kohl. Bob
Must be overseas or someplace outsode our borders as it sure doesn't exist here. John
*choke* thanks, frank.. I hear that coffee is good for a keyboard once in a while..
blue light specials?
another of Clinton's half-vast ideas???
Everything I have read seems to say this was mostly a real estate deal as both KMart and Sears are owners of vast amounts of prime retail real estate purchased many years ago and either fully depreciated or at low historical cost value on their books. The stock prices did not reflect market value of all of these holdings. The guy that bought KMart out of bankruptcy essentially just bought Sears (merger? yeah, right). I expect to see some significant real estate transactions from the combined operation.
Dave Hall
KMart bought Sears. There was no "merger" to it. The guy that bought KMart out of bankruptcy has made a fortune on the deal. KMart was and still is real estate rich, Sears was and still is real estate rich. In KMart's case that real estate was not liquid enough to allow it to have an adequate cash flow so it was forced into bankruptcy due to a negitive short term liqiudity situation (all the while sitting on vast amounts of highly valuable heavily depreciated real estate). The new owner has just begun to cash in on that real estate but had still amassed enough cash to take over Sears. Expect to see a lot of Sears real estate on the market (remember all the little Sears stores and Sears Hardware stores not to mention the NTBs and other Sears owned non-Sears named stores, many of which have closed in the last few years - lots of real estate). Just because WE think of KMart and Sears as retail store operations, the folks who buy bankrupt companies or troubled companies don't always do so for the continuing operations. Sometimes the parts are worth far more than the whole.
Dave Hall
What really sucks is looking at Kmart's stock price. It started around $15 when they emerged from bankruptcy -- I looked at it and thought, "yeah, right, that'll last" They marched through $25, then up to $50, sometimes jumping $2 to $3 or more a day. They closed at $109 today, up $7.78 for the day.
Congratulations to those who were adventurous enough to jump in.
"Mike Hide" wrote in news:93Jmd.518461$mD.447496@attbi_s02:
Check out the North American and European telecomm companies losing their backsides on trying to make any money in China. Then look to see where the new business is going. That China would seek to develop their own industry is not surprising. That the rest of the world thought that they could make significant money there first is truly amazing.
The rules are different there. Not worse. Not better. Different. Significantly, culturally different. PDAMHIKT.
Now back to your original thread...
Patriarch
On Wed, 17 Nov 2004 20:47:04 GMT, Ba r r y calmly ranted:
Nope. Walmart is far too savvy to gulp KSearz-Mart. They'll just watch it founder and die the slow, painful humiliating death it deserves.
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Charlie ...
This will make them bigger than Target. The number 2 retailer is Home Depot.
Lee
Which leaves us with one company. Tar-Mart.
Barry
Not according to every news report I've heard.
todd
The "Depot" family is pretty big, but it's an orange and Target's an apple.
Lee Gordon notes:
What the hell. I quoted the story. The writer may have meant general lines retailer. Who knows?
Charlie Self "Health nuts are going to feel stupid someday, lying in hospitals dying of nothing." Redd Foxx
Read the cover story of this week's (Nov 22 edition) Business Week. It was written before this sale, but it will give you a pretty good understanding of what it is about.
How come nobody is wondering how soon the layoffs will hit and how many will be axed? Every time a bank pulls off one of these deals they always announce the expected "efficiency" savings by reductions in force. I suppose the efficiencies will come when they close one store or the other when both are within 10 miles of each other. That should give them great coverage compared to the competition ;-}
We have a KMart within three miles and a Sears equally close. Both stores are truly well run, with high traffic and generally good quality merchandise. Should be interesting to watch the drama unfold, although I would hate to be a career employee watching from either camp ...
So, where will you buy tools that are American Made if you don't buy from Sears?
The only option I can think of right now is Allen tools at the local Fleet Farm. Lowes and Home Depot are both sourcing sockets and wrenches overseas now. Home Depot quit selling anything but sets anyhow.
Maybe some of the chiwainese stuff is good these days, but some tools I boght a long time ago were junk. The plating chipped off if you looked at the tools, let alone used them.
Brian Elfert
On Thu, 18 Nov 2004 11:24:01 GMT, Ba r r y calmly ranted:
As long as they don't start stocking bulk feathers we should be OK.
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