Sears could have been Amazon. They were a mail order company that sold everything and shipped all over NA, they had the infrastructure and logistics in place, all they needed to do was put their...
Sears could have been Amazon. They were a mail order company that sold everything and shipped all over NA, they had the infrastructure and logistics in place, all they needed to do was put their catalogue online with a half decent user interface and then start to allow 3rd party sellers. Instead they sat there and watched a company everyone thought would kill Chapters drink their milkshake instead.
It's something many businesses seem to settle into. I used to work for a company that was number 1 for about 10 years. Then a young competitor, X, came along, got a huge IPO, used that money to...
It's something many businesses seem to settle into. I used to work for a company that was number 1 for about 10 years. Then a young competitor, X, came along, got a huge IPO, used that money to start buying our freelancers. I remember in an all hands with our general manager she was asked what she though about this company and her reply was "We're not worried about those little punks" and a year later they were posed to knock us from the top spot, we had a new GM, same guy in an all hands asked "Last year I asked about our X and the former GM said they were a bunch of punks and we're not worried about them, what do you say?"
From that point forward we started emulating ever single thing they did, which was often things that were suggested by the lower level workers and managers years before to X doing it. Rather than be the leader we were constantly playing catch up. Eventually our parent company absorbed us into the greater corporate being once we stopped being the unstoppable money maker we once were and I left during that transition.
So long Sears. I'll always remember being disappointed when your catalog would show up in the mail while I was still waiting for the JC Penny catalog full of toys so I could start planning my list...
So long Sears. I'll always remember being disappointed when your catalog would show up in the mail while I was still waiting for the JC Penny catalog full of toys so I could start planning my list to Santa.
It's kinda sad to see them go, but the only times in the past few years I've been there has been to walk through their store to get to the rest of a mall. I remember in my first accounting class,...
It's kinda sad to see them go, but the only times in the past few years I've been there has been to walk through their store to get to the rest of a mall. I remember in my first accounting class, my professor used Sears as an example of how not to run a company. I'm surprised they lasted as long as they did, given how much money they owe. (I'm also equally surprised any lender would be dumb enough to give them anything, even at absurdly high interest rates.)
I'm glad to see their CEO has finally stepped down, as he just seemed to be biding his time, plugging his ears and pretending nothing was wrong. I doubt Sears will survive, at least in its current state, and even if they manage to get a smart CEO, kill the bureaucracy, and become a hip company again, they'll have massive debt obligations hanging over their head for a long time to come.
Sears could have been Amazon. They were a mail order company that sold everything and shipped all over NA, they had the infrastructure and logistics in place, all they needed to do was put their catalogue online with a half decent user interface and then start to allow 3rd party sellers. Instead they sat there and watched a company everyone thought would kill Chapters drink their milkshake instead.
It's something many businesses seem to settle into. I used to work for a company that was number 1 for about 10 years. Then a young competitor, X, came along, got a huge IPO, used that money to start buying our freelancers. I remember in an all hands with our general manager she was asked what she though about this company and her reply was "We're not worried about those little punks" and a year later they were posed to knock us from the top spot, we had a new GM, same guy in an all hands asked "Last year I asked about our X and the former GM said they were a bunch of punks and we're not worried about them, what do you say?"
From that point forward we started emulating ever single thing they did, which was often things that were suggested by the lower level workers and managers years before to X doing it. Rather than be the leader we were constantly playing catch up. Eventually our parent company absorbed us into the greater corporate being once we stopped being the unstoppable money maker we once were and I left during that transition.
So long Sears. I'll always remember being disappointed when your catalog would show up in the mail while I was still waiting for the JC Penny catalog full of toys so I could start planning my list to Santa.
It's kinda sad to see them go, but the only times in the past few years I've been there has been to walk through their store to get to the rest of a mall. I remember in my first accounting class, my professor used Sears as an example of how not to run a company. I'm surprised they lasted as long as they did, given how much money they owe. (I'm also equally surprised any lender would be dumb enough to give them anything, even at absurdly high interest rates.)
I'm glad to see their CEO has finally stepped down, as he just seemed to be biding his time, plugging his ears and pretending nothing was wrong. I doubt Sears will survive, at least in its current state, and even if they manage to get a smart CEO, kill the bureaucracy, and become a hip company again, they'll have massive debt obligations hanging over their head for a long time to come.