More SHC News

Well everyone, there's more news related to Sears Holdings Corp, its managers, its stores, or other. These are articles that I doubt you'll hear on CNN or find being broadcasted within the stores.

► 8 Companies that May Disappear in 2008
Sears is mentioned in this article (obviously). It mentions that the whole "temp CEO" thing sounds a bit like a prelude to an auction.

► Saving Sears Doesn't Look Easy Anymore
This is a great article that talks about what Eddie Lampert had in mind when he first decided to merge K-Mart and Sears (well, his front anyway) and now how it's a sinking ship. This is also a good quote from a side that we rarely hear about, the vendors. "Shoppers and workers are not the only ones complaining. Vendors who sell to Mr. Lampert say his relentless cost-cutting has steadily eroded their business at both Kmart and Sears, giving them little incentive to offer the chains their best new products. A result: a vicious circle of poor sales and second-rate merchandise."

► 1,000 O'Hare flights canceled due to brutal snowstorm
In Chicago the Westfield Hawthorn Mall closed at 2 p.m., making it the first time the mall has closed early in five years due to weather. "The decision is unusual, but necessary to ensure the safety of customers, retailers and staff, Kneeland-Woods said. " Why am I linking this? Because "one of the anchor stores, Sears will remain open" (emphasis mine). Yes, Chicago is being beaten by a brutal snowstorm, a mall that never closes has completely shut down .... except for the Sears store. Sure shows you what Sears thinks of its employees and their safety, huh?

► Sears' turnaround plan short on details, long on odds
"The desperate challenge facing Lampert is to turn around a storied 115-year-old department store chain suffering from a steep decline in sales and profits. But true to Lampert's secretive style, it's anybody's guess--not just on Wall Street, but also from the top to the bottom of the hierarchy at Sears' Hoffman Estates headquarters--how to fill in the details." In other words, no one knows what's going on except for the puppet master and he's not saying anything. This article also points out one more thing: "Lampert seems to want each of the new divisions to operate as separate profit centers. But that strategy creates the potential for confusion, because the separate units won't always work together. Conflicts of interest might arise." (emphasis mine)

► Sears filing outlines payout to ousted CEO
"Aylwin Lewis, forced out this week from the top job at Sears Holdings Corp., will continue to receive his $1 million salary through March 2010, Sears disclosed in a regulatory filing late Wednesday." Hush money? It seems very clear to me that Aylwin did not step down willingly. He was fired but they spun the news to make it seem like he was gracefully stepping down and taking responsibility. Hmm.

► Hanover Twp. Sears warehouse lays off 90
The layoffs have begun. "The Sears warehouse and shipping center in Hanover Township cut nearly 20 percent of its workforce Monday in the face of lean retail sales." I doubt you'll ever hear about this from anywhere else but here.

► Sears Canada and The Salvation Army Blanket the Country
FINALLY something positive! But it's from Sears Canada. From what I understand Eddie only owns about 70% of Sears Canada and the rest are still in the hands of the Canadian people (despite Eddie's efforts to buy all of it and make it a private company). Still, even though it's not completely our Sears, it was a good thing that they did.


That's all for this news update. There will be more to come (oh yes, there will be).

As an added bonus, I thought I'd go ahead and link everyone to a documentary called "The Corporation" (link). It's a three hour documentary that takes the corporation as a person (since corporations are, essentially, virtual people under the law) and analyzes the psyche and mental state. What kind of person would a corporation make? You'll have to watch and find out. (Note: broadband definitely required. dial-up would take the rest of your life to buffer it).

This documentary will open your eyes and will shock you. I HIGHLY recommend it.