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  1. #31  
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    I'm shocked, that even in the eighties, a major corporation was handing out cash instead of checks. Wow :eek:
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  2. #32  
    LTC Member Odysseus's Avatar
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    Quote Originally Posted by SarasotaRepub View Post
    I worked for K-Mart when I was in school. I don't think I lasted more than a month or two. The store was filthy and as a stock boy they wanted me to wear a shirt and tie.

    They paid you in cash which was interesting. I know the local muggers all loved it.
    And I'm sure that the IRS didn't. I wonder if you were even on their books.
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  3. #33  
    Destroyer of Worlds Apocalypse's Avatar
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    Seems to be getting worse.

    Sears to 'Unload' 1,200 Stores?

    Sears might "unload" 1,200 stores in an effort to raise money, the Wall Street Journal reported Thursday. A majority stakeholder in Sears Holdings Corp., which operates Sears and Kmart, is hoping to receive $770 million in cash related to the stores.

    http://news.yahoo.com/sears-unload-1...-abc-news.html
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  4. #34  
    Power CUer noonwitch's Avatar
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    Quote Originally Posted by Odysseus View Post
    And I'm sure that the IRS didn't. I wonder if you were even on their books.

    You got an envelope every Friday with your cash pay, down to the exact penny. There was a witholding statement inside.
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  5. #35  
    Senior Member Zeus's Avatar
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    Quote Originally Posted by Rockntractor View Post
    Here is what gets me, they said it was because sales were down 5%, seriously why should 5% be enough for stores to close.
    Do these people have every penny they use for inventory, utilities, payroll and buildings a on loan from a bank or something.
    Crap if I rolled over because things were down 5% I would have been dead a long time ago.
    Are Sears and Kmart Goners?

    8/31/2011 @ 2:42PM

    For an investment of less than $1 billion, Lampert gained total control of a company that, wounded or not, was doing over $30 billion in yearly sales and throwing off a ton of cash. That he pulled off this maneuver only days after being kidnapped at gunpoint and held for ransom only added to Lampert’s legend. This was a true corporate badass, and if he said Kmart would rise again, who could doubt him?But the view from within the retail industry was a bit different. Watching Lampert build a holding company is far different than seeing a retail chain get the leadership it needs. The new Sears Holdings stock soared for a while, fueled by Lampert’s reputation and the real estate value of its stores. But that’s not enough to revitalize a retailer.
    It was a great story, but it was not a retail story. It was a real estate story, perfect for 2005. And then the real estate market crashed.
    All of a sudden, the whole strategy began to unravel. With no interest from big-box retailers, the merged entity — now known as Sears Holdings — had to struggle to find its footing as actual businesses. It’s been a disaster. In the six years since the merger, revenue has declined every single year and income has fallen a shocking 84 percent. This year, the company has dropped to tenth place among top retailers for the first time ever. In a recovering retail climate, Sears is the only store in its category to show negative same-store sales — down 4 percent. Kmart has fallen from third in its category to a very distant fourth — even Target ($66 billion) and Costco ($59 billion) have pulled away from Kmart’s sorry $17 billion.

    How much longer can Sears Holdings hold on? Kurson thinks the answer is sooner rather than later. He may be right.
    I believe that there’s an excellent chance that within a year SHLD will trade for half of what it trades for today. And that will be a good thing for investors like me, who from time to time have shorted the stock. I also believe that within a year, Sears and Kmart will no longer exist as freestanding stores. And that will be a damn shame.
    Amen
    The 21st century. The age of Smart phones and Stupid people.

    It is said that branches draw their life from the vine. Each is separate yet all are one as they share one life giving stem . The Bible tells us we are called to a similar union in life, our lives with the life of God. We are incorporated into him; made sharers in his life. Apart from this union we can do nothing.
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  6. #36  
    Senior Member Zeus's Avatar
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    Quote Originally Posted by Odysseus View Post
    The K-Mart in Killeen wasn't bad, and it was right outside the east gate at FT Hood, so it had a good location, but it never seemed to do much business, especially compared to the two WalMarts within five miles of the post.
    They converted that K-mart into a Super K to compete with the Super Walmarts in Killeen and Copperas Cove. I haven't been to that k-mart in yrs couldn't tell ya if it's even still there. You can go to either of the Walmarts in the middle of the night and still see quite a few shoppers.
    The 21st century. The age of Smart phones and Stupid people.

    It is said that branches draw their life from the vine. Each is separate yet all are one as they share one life giving stem . The Bible tells us we are called to a similar union in life, our lives with the life of God. We are incorporated into him; made sharers in his life. Apart from this union we can do nothing.
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