(12-28-2018 08:42 AM)Eagleaidaholic Wrote:  

(12-28-2018 01:02 AM)Marc Mensa Wrote:  I sometimes think retailers are to blame for their own demise. Customer service is terrible. There is little effort made to make the shopping experience special. Quite frankly, I tried to do my Christmas shopping the “old school way” this year and was astounded by the lack of customer service and holiday marketing within the stores. Give me a reason to not buy online!

And some people think those employees are worth $15/hr.

Sears pays commission. When i worked there I made.over $20/HR during the holiday season. I was generally around $15, but full timers got better commission rates so they erre generally $20-40/HR depending on which store and which department.

(12-28-2018 08:48 AM)Lord Stanley Wrote:  There was a full Sears at the Mall of America that had appliances, outdoor stuff, furniture etc. Who the hell would go to the Mall of America for this stuff? Well, when I lived in the city I would to take advantage of sometimes as much as 75% appliances and outdoor stuff. Worked for me but I didn't get the business model to put that type of stuff in what amounts to tourist attraction.
My grandpa was the only store manager in the history of Sears without a college degree and also the only store manager that managed the same store his entire management career. When he passed away his will stated that he was to be buried with two specific things - his wedding ring and his Sears retirement ring.
Sears will always be special to me.

With their history with their catalog model, one would have thought they could adapt to the Internet model. But they didn't.

(12-28-2018 08:56 AM)Niner National Wrote:  

(12-28-2018 08:42 AM)Eagleaidaholic Wrote:  

(12-28-2018 01:02 AM)Marc Mensa Wrote:  I sometimes think retailers are to blame for their own demise. Customer service is terrible. There is little effort made to make the shopping experience special. Quite frankly, I tried to do my Christmas shopping the “old school way” this year and was astounded by the lack of customer service and holiday marketing within the stores. Give me a reason to not buy online!

And some people think those employees are worth $15/hr.

Sears pays commission. When i worked there I made.over $20/HR during the holiday season. I was generally around $15, but full timers got better commission rates so they erre generally $20-40/HR depending on which store and which department.

He didnt go to Sears. Those wages are the reason they are going out of business.

(12-27-2018 06:53 PM)THE NC Herd Fan Wrote:  I believe there is only one remaining Sears in all of NC and no KMarts. I don't think that's a sustainable business model. So at Carolina Place in Charlotte 2 anchors are gone, Sears and Macy's, that leaves Dillards, Belks and JCP, can that mall survive with 250,000 Sq. Ft. of anchor tenant space vacant?

depends, does it still attract the hoodlums like a decade ago?

(12-28-2018 08:45 AM)Owl 69/70/75 Wrote:  

(12-28-2018 08:42 AM)Eagleaidaholic Wrote:  

(12-28-2018 01:02 AM)Marc Mensa Wrote:  I sometimes think retailers are to blame for their own demise. Customer service is terrible. There is little effort made to make the shopping experience special. Quite frankly, I tried to do my Christmas shopping the “old school way” this year and was astounded by the lack of customer service and holiday marketing within the stores. Give me a reason to not buy online!

And some people think those employees are worth $15/hr.

I think Mensa is one of those people.

I think if they paid more they'd get a better employee. The race to the bottom has certainly taken them there. Costco pays 13-15 per hour and are consistently rated highly in customer service.

(12-28-2018 09:55 AM)Eagleaidaholic Wrote:  

(12-28-2018 08:56 AM)Niner National Wrote:  

(12-28-2018 08:42 AM)Eagleaidaholic Wrote:  

(12-28-2018 01:02 AM)Marc Mensa Wrote:  I sometimes think retailers are to blame for their own demise. Customer service is terrible. There is little effort made to make the shopping experience special. Quite frankly, I tried to do my Christmas shopping the “old school way” this year and was astounded by the lack of customer service and holiday marketing within the stores. Give me a reason to not buy online!

And some people think those employees are worth $15/hr.

Sears pays commission. When i worked there I made.over $20/HR during the holiday season. I was generally around $15, but full timers got better commission rates so they erre generally $20-40/HR depending on which store and which department.

He didnt go to Sears. Those wages are the reason they are going out of business.

Sears isn't going out of business because they paid their employees too much. They're going out of business because their stores are old and dated, as are their product lines. Sears didn't change as the times changed.

(12-28-2018 10:26 AM)Marc Mensa Wrote:  

(12-28-2018 08:45 AM)Owl 69/70/75 Wrote:  

(12-28-2018 08:42 AM)Eagleaidaholic Wrote:  

(12-28-2018 01:02 AM)Marc Mensa Wrote:  I sometimes think retailers are to blame for their own demise. Customer service is terrible. There is little effort made to make the shopping experience special. Quite frankly, I tried to do my Christmas shopping the “old school way” this year and was astounded by the lack of customer service and holiday marketing within the stores. Give me a reason to not buy online!

And some people think those employees are worth $15/hr.

I think Mensa is one of those people.

I think if they paid more they'd get a better employee. The race to the bottom has certainly taken them there. Costco pays 13-15 per hour and are consistently rated highly in customer service.

But perhaps the reason they have such good customer service is they pay better than other places thus attracting the kind of people that are willing to uphold their standards for better pay. If everyone gets to make 15 per hour does that mean costco has to pay 20-25 an hour to maintain their advantage?

That's always been my hang up with the $15 minimum wage. Either businesses take a hit to continue to provide better pay for better workers, or their employees get the same thing as lazy asses that do the bare minimum to get by.

Sears' issue was not the floor level employee hourly rate. JHC.

(12-28-2018 10:21 AM)fsquid Wrote:  

(12-27-2018 06:53 PM)THE NC Herd Fan Wrote:  I believe there is only one remaining Sears in all of NC and no KMarts. I don't think that's a sustainable business model. So at Carolina Place in Charlotte 2 anchors are gone, Sears and Macy's, that leaves Dillards, Belks and JCP, can that mall survive with 250,000 Sq. Ft. of anchor tenant space vacant?

depends, does it still attract the hoodlums like a decade ago?

I think you're mixing up Carolina Place with Eastland Mall, I don't recall Carolina Place having big issues, Eastland's issues lead to it becoming an empty lot, it was demolished about 5 years ago.

(12-28-2018 11:33 AM)THE NC Herd Fan Wrote:  

(12-28-2018 10:21 AM)fsquid Wrote:  

(12-27-2018 06:53 PM)THE NC Herd Fan Wrote:  I believe there is only one remaining Sears in all of NC and no KMarts. I don't think that's a sustainable business model. So at Carolina Place in Charlotte 2 anchors are gone, Sears and Macy's, that leaves Dillards, Belks and JCP, can that mall survive with 250,000 Sq. Ft. of anchor tenant space vacant?

depends, does it still attract the hoodlums like a decade ago?

I think you're mixing up Carolina Place with Eastland Mall, I don't recall Carolina Place having big issues, Eastland's issues lead to it becoming an empty lot, it was demolished about 5 years ago.

Carolina Place had issues due to the buses that ran there. Not on the Eastland level but bad. However, I'm talking 2006-08 time range. It may have changed.

(12-28-2018 11:45 AM)fsquid Wrote:  

(12-28-2018 11:33 AM)THE NC Herd Fan Wrote:  

(12-28-2018 10:21 AM)fsquid Wrote:  

(12-27-2018 06:53 PM)THE NC Herd Fan Wrote:  I believe there is only one remaining Sears in all of NC and no KMarts. I don't think that's a sustainable business model. So at Carolina Place in Charlotte 2 anchors are gone, Sears and Macy's, that leaves Dillards, Belks and JCP, can that mall survive with 250,000 Sq. Ft. of anchor tenant space vacant?

depends, does it still attract the hoodlums like a decade ago?

I think you're mixing up Carolina Place with Eastland Mall, I don't recall Carolina Place having big issues, Eastland's issues lead to it becoming an empty lot, it was demolished about 5 years ago.

Carolina Place had issues due to the buses that ran there. Not on the Eastland level but bad. However, I'm talking 2006-08 time range. It may have changed.

I think that trouble moved to North Lake, at one point that new mall's issues were so bad mall security would ask you to go in the mall or leave if they saw you setting in your car. I haven't lived in Charlotte since 2013 so I can't say either mall has improved safety wise.

Sears CEO submits only bid for existing company. Bankruptcy courts will decide if liquidation bids or ESL bid most benefits creditors and investors. Make no mistake, Lampert doesn't really care about saving Sears, he wants the valuable real estate and remaining brands he can piecemeal out until Sears finally dies. At most Sears has two years left if courts accept ESL bid.

(12-28-2018 06:04 PM)THE NC Herd Fan Wrote:  Sears CEO submits only bid for existing company. Bankruptcy courts will decide if liquidation bids or ESL bid most benefits creditors and investors. Make no mistake, Lampert doesn't really care about saving Sears, he wants the valuable real estate and remaining brands he can piecemeal out until Sears finally dies. At most Sears has two years left if courts accept ESL bid.

It is his hedge fund that is bidding. Which means there is big money to make. If they get it it will be sold for parts.

(12-28-2018 06:04 PM)THE NC Herd Fan Wrote:  Sears CEO submits only bid for existing company. Bankruptcy courts will decide if liquidation bids or ESL bid most benefits creditors and investors. Make no mistake, Lampert doesn't really care about saving Sears, he wants the valuable real estate and remaining brands he can piecemeal out until Sears finally dies. At most Sears has two years left if courts accept ESL bid.

What brands are left? They no longer own craftsman and i thought they had sold Kenmore as well.

Also how valuable is the real estate in today's world? One of the reasons Sears failed was the poor decision making with regards to store locations. They ties their ship to malls while Walmart and Target focused on bringing their stores to suburban areas where their customers lived. With the exception of high end malls, malls are largely dying. There cant be much of a market dir seara mall anchor locations.

(12-29-2018 10:59 AM)Niner National Wrote:  

(12-28-2018 06:04 PM)THE NC Herd Fan Wrote:  Sears CEO submits only bid for existing company. Bankruptcy courts will decide if liquidation bids or ESL bid most benefits creditors and investors. Make no mistake, Lampert doesn't really care about saving Sears, he wants the valuable real estate and remaining brands he can piecemeal out until Sears finally dies. At most Sears has two years left if courts accept ESL bid.

What brands are left? They no longer own craftsman and i thought they had sold Kenmore as well.

Also how valuable is the real estate in today's world? One of the reasons Sears failed was the poor decision making with regards to store locations. They ties their ship to malls while Walmart and Target focused on bringing their stores to suburban areas where their customers lived. With the exception of high end malls, malls are largely dying. There cant be much of a market dir seara mall anchor locations.

A shell company owned by Sears still owns Kenmore and Diehard brands. Sears Auto Centers are probably a valuable asset as well given they have an agreement with Amazon to install tires purchased on Amazon. I could see either Amazon or NTB buying this brand.

(12-29-2018 10:59 AM)Niner National Wrote:  

(12-28-2018 06:04 PM)THE NC Herd Fan Wrote:  Sears CEO submits only bid for existing company. Bankruptcy courts will decide if liquidation bids or ESL bid most benefits creditors and investors. Make no mistake, Lampert doesn't really care about saving Sears, he wants the valuable real estate and remaining brands he can piecemeal out until Sears finally dies. At most Sears has two years left if courts accept ESL bid.

What brands are left? They no longer own craftsman and i thought they had sold Kenmore as well.

Also how valuable is the real estate in today's world? One of the reasons Sears failed was the poor decision making with regards to store locations. They ties their ship to malls while Walmart and Target focused on bringing their stores to suburban areas where their customers lived. With the exception of high end malls, malls are largely dying. There cant be much of a market dir seara mall anchor locations.

Sears no longer owns its stores. They rent at a huge discount from Seritage Growth Properties.

(12-29-2018 02:58 PM)pkptigers07 Wrote:  

(12-29-2018 10:59 AM)Niner National Wrote:  

(12-28-2018 06:04 PM)THE NC Herd Fan Wrote:  Sears CEO submits only bid for existing company. Bankruptcy courts will decide if liquidation bids or ESL bid most benefits creditors and investors. Make no mistake, Lampert doesn't really care about saving Sears, he wants the valuable real estate and remaining brands he can piecemeal out until Sears finally dies. At most Sears has two years left if courts accept ESL bid.

What brands are left? They no longer own craftsman and i thought they had sold Kenmore as well.

Also how valuable is the real estate in today's world? One of the reasons Sears failed was the poor decision making with regards to store locations. They ties their ship to malls while Walmart and Target focused on bringing their stores to suburban areas where their customers lived. With the exception of high end malls, malls are largely dying. There cant be much of a market dir seara mall anchor locations.

Sears no longer owns its stores. They rent at a huge discount from Seritage Growth Properties.

Although relatively small, I'm sure it's the most valuable, Sears still owns 293 Sears Locations, 67 KMart, and 20 smaller specialty stores (I'm guessing Sears Auto). These were statistics from earlier in the year, not sure if these were sold ahead of Christmas season to give Sears cash to pay vendors.