Craftsman’s famous lifetime warranty in question after $900 million sale

[crimethink]

https://finance.yahoo.com/news/craft...202603636.html

After 90 years, Sears announced Thursday that it would sell the Craftsman brand to Stanley Black & Decker (SWK) for $900 million to raise cash it needs, as Sears weathers store closings and declining revenue. Sears will continue to sell Craftsman products – which include everything from wrenches to floor jacks – for 15 years without restriction. After that period, it will pay 3% royalties to Stanley Black & Decker, which sells its own line of tools as well as other brands.


http://www.wsj.com/articles/sears-se...ker-1483623215

[crimethink]

The Jew parasite, (((Eddie Lampert))), who powerdove Sears into the ground over the last decade:

http://www.businessinsider.com/sears...chances-2017-1

Lampert, a former Wall Street prodigy, took control of Sears more than a decade ago and became its CEO in 2013. But he's rarely seen in the office, typically visiting about once a year for the shareholder meeting and projecting into videoconference rooms at Sears' Hoffman Estates, Illinois headquarters the rest of the time, according to interviews with employees. He prefers to stay on Indian Creek Island off the coast of Miami, behind a desk dressed up with the Sears logo. The island has been dubbed the "billionaire bunker," partly because of a private police force that protects the island's 86 residents.

"The only way you see Eddie is through a screen," one former executive told Business Insider. "We used to joke about who had to go upstairs to get fixed and see Oz."

(...)

Senior executives say Lampert has cut investments in stores because he's trying to turn it into a tech company that collects and sells customer data through the Shop Your Way loyalty program.

(...)

While the failure of the company could certainly wipe out his hedge fund's investment in the stock, these deals have set Lampert up to benefit in other ways, creating a conflict of interest, according to a shareholder lawsuit.

Failure is a near certainty, according to industry watchers. Analysts are expecting Sears to file for bankruptcy within the next two years, and perhaps much sooner.

Former and current Sears staff members who spoke to Business Insider put the blame squarely on Lampert for destroying the iconic American brand.


Not surprisingly, Lampert is a Randroid ["Ayn Rand" (sic) cultist].

[Ares]

for 15 years without restriction

Yeah...... and I'd put money down on shorting the stock that says Sears will not be here in 15 years.....

[Spectrism]

The Jew parasite, (((Eddie Lampert))), who powerdove Sears into the ground over the last decade:

http://www.businessinsider.com/sears...chances-2017-1

Lampert, a former Wall Street prodigy, took control of Sears more than a decade ago and became its CEO in 2013. But he's rarely seen in the office, typically visiting about once a year for the shareholder meeting and projecting into videoconference rooms at Sears' Hoffman Estates, Illinois headquarters the rest of the time, according to interviews with employees. He prefers to stay on Indian Creek Island off the coast of Miami, behind a desk dressed up with the Sears logo. The island has been dubbed the "billionaire bunker," partly because of a private police force that protects the island's 86 residents.

"The only way you see Eddie is through a screen," one former executive told Business Insider. "We used to joke about who had to go upstairs to get fixed and see Oz."

(...)

Senior executives say Lampert has cut investments in stores because he's trying to turn it into a tech company that collects and sells customer data through the Shop Your Way loyalty program.

(...)

While the failure of the company could certainly wipe out his hedge fund's investment in the stock, these deals have set Lampert up to benefit in other ways, creating a conflict of interest, according to a shareholder lawsuit.

Failure is a near certainty, according to industry watchers. Analysts are expecting Sears to file for bankruptcy within the next two years, and perhaps much sooner.

Former and current Sears staff members who spoke to Business Insider put the blame squarely on Lampert for destroying the iconic American brand.


Not surprisingly, Lampert is a Randroid ["Ayn Rand" (sic) cultist].

I was wondering who the asshole was calling the shots to destroy the company. He has done an Obama-job with Sears. I see this happening in many companies (even my own) where idiots lacking vision fail to run the company intelligently.

[ximmy]

The parasites continue their destruction...

The scene where Pauly and Henry take over the guys Restaurant and milk it for all its worth before torching it for insurance money.

[cheka.]

remember when lampert bought k-mart out of bankruptcy and then his k-mart bought sears. cramer on cnbc went on and on and on about how lampert was a spectacular genius and that he would take k-sears to the moon

egad

[cheka.]

here's cramer/lampert's work: down 90 plus percent

https://media.ycharts.com/charts/8ae...1b04f0b412.png

[Down1]

Armstrong Tools, Allen Tools both being killed off by Apex.

APEX Tool Group will cease production of its Armstrong and Allen lines of hand tools, a move that will end employment for 170 workers at its Sumter plant, said APEX Communications Director Kelly Rhoads.

http://www.thestate.com/news/busines...126068444.html

[CODE]http://www.thestate.com/news/business/article126068444.html[/CODE]

[crimethink]

Armstrong Tools, Allen Tools both being killed off by Apex.

http://www.thestate.com/news/busines...126068444.html

[CODE]http://www.thestate.com/news/business/article126068444.html[/CODE]

Maybe they can replace them with Shito Tools:

http://images17.newegg.com/is/image/...02-Z04?$S1280$

http://www.diabandsons.com/@@diabadm.../img/Shito.jpg

[Joshua01]

I stopped trusting craftsman tools and switched to snapon quite a while back. It's been years since any Sears has seen my shadow.