House of Paine

wall marting SEARS

 here's a pair
 of retail ladies in play ....
 that 
a big street shot gun
 just forced 
into a  wicked kapshow
                     same sex  marriage 


--------------------

n.b.
     the real estate sharks 
                  circling ......


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 this lampert is a big player
no donald 

 question:

 does he have 
real enterprise notions 
up his sleeve here ?


or just one 
of those marvelous
book entry  juggles
among 
wall street
insiders


the type of thing the pricks do  best

yes screwing little fry stockholders is really wall street job one

and a company or companies
worth more broken up 
gets taken private for that  

my guess since this is still public 
   there will 
 be a sears of sorts 
at the far end 
 

built out of the two old ladies best parts 


leaner and meaner 

yes
this don't look to me 
like a  simple  butcher job
one of those 
srtip and flip 
sell offs that ends 
 location by location
like farmers sell off 
their herds of  milk cows
to the hamburger boys


 you can say 
in a sense
they're  all still cows 
right

only now 
they're in  mounds 
not stalls 
           

  but even if there wil always be a sears
as long as he's at the helm
none the less 
lampert plans to create 
investor "value"
the old fashion way:


hack the shit 
out of the human  over head

you know 
employment levels 
pay roll benefits 
work rules
comp packages 
etc etc etc 


--------------------------

heres the times on the story 


"
 November 18, 2004


  "in the world of retailing,
 there is no such thing as 
"too big to fail," 


--right but gobbled up 
by sharks ------------

" With $55 billion in revenue,
 it will trail Wal-Mart
    and Home Depot "


------- what does this dick size shit mean dork ------


"Sears gained its dominance
 with the slogan 

"Satisfaction Guaranteed 
or Your Money Back" 

in the years after World War II
 as it followed its customers 
to the suburbs 

while the old leader,
 Montgomery Ward, 
hunkered down 
and conserved its cash
 awaiting 
a postwar economic slump
 that never arrived. 

That chain limped along 
for decades
and has now vanished."

----- posted this cause its so nice a tale ---------

"But Sears eventually lost
 the No. 1 position to Wal-Mart
 which started in smaller towns
 and then expanded to the suburbs


 Wal-Mart managed to reduce costs
 to bring inexpensive goods 
to Americans who might once
 have relied on Sears "

------ story chapter 2 -----------

In 2003,
 Wal-Mart sales were $256 billion,
 six times those of Sears.
 They would have been 
more than four times those 
of a combined Sears and Kmart.

As Sears has struggled,
 the stock has attracted players 
known for real estate plays 
rather than an interest 
in selling clothing to customers.
---------- yes 
an old old retail story 
strip and sell off 
the well located  boxes
 re cycle em 
with a fine gross mark up  
between the buy and the sell

these public whales floating 
near death  in the water
what a banquet 
hacked to pieces and sold off 
bribes aplenty
at obscene  bargain prices to  privateers 
the losers? who else 
hordes of  little guys and the dumbo foundations --------

 In talking to investors on Wednesday
 Edward S. Lampert,
 a hedge fund manager 
who controls Kmart 
and had a 15 percent stake in Sears

------- here we have a one big take down 
less frenzied maybe even less obscene 
this wall street waspy shit wizzard 

 but read on ------------

lampert  said he was determined
 to make the combined company 
worth more than its real estate

Less than two weeks ago,
 Sears stock leaped 
on the news 
that Vornado Realty Trust
 had acquired a 4.3 percent stake
 in the company

----- the stripper
enters stage right
 a big one off stripper
scares off other side deal privateers  ----------
 
 In the past,
 Vornado had acquired Alexander's,
 once a proud name in New York retailing
 but now gone, 
and it has been trying 
to buy Toys "R" Us,
 another once-dominant retailer 
that has had difficulty 
competing with Wal-Mart.


lampert  pointed to the experience 
of the financial services industry,
 which he said 
had cut costs
 in the 1990's 
through aggressive consolidation.

 He vowed to have 
"a very low cost structure 
to compete effectively" 
-------- sears :
     welcome to walmart world
and 
let me tell you
maybe they never had 
a  union on the sales floor
but old sears was a fine place for benes
health pensions profit share stock distributions
a 50's corporatist apex
long long gone 
   
people stayed for a full career
i personally know dozens of sears x's 

yes dingleberry boy
the grip of  capitalism 
has gotten nastier 
here under the red white and blue
in my life time 
 
sears is a gigantic case 
like 
high tech industrial market dominators
like ibm 
polaroid xerox eastman kodak

retail mooses get run over too 
    
they lose their purch and 
faster or slower tumble  into the pit  

 -------------


The plan, 
the companies said yesterday,
 is to rename some Kmart stores 
as Sears stores

----- here's the label relabel game
k mart is getting squoozen -----------

 combine operations 
to save money 

------ cut cut cut cut cut ----------------

and allow brands sold at one chain 
to be sold at the other.

----- there will be no k-mart soon
itself a wonderful case like todats target
of an old dinosaur
kresges five  and dime 
spawning a child that revives the old bitch 

but hey 
that was  back in the 60's 
be fore
sam the terrible
had his walmart wringer rolling ----------

  
------ christ this ain't the half of it folks but ...---------

 .


 Kmart has done 
surprisingly well 
under Mr. Lampert. 

----you expect sales
imporoved per square foot
and net  margins
but no such  talk here ----------


Its shares, 
which were issued to creditors
 of the old Kmart
 sold for $15 
when they began trading in May 2003,
 and soon fell to a low of $12.
 But they have since soared.
 Shares of Kmart 
rose $7.78 yesterday, to $109.


---------- see stock value
 not enterprise performance
nd why the rise ?
read on ------------

Kmart has amassed a large cash hoard 
 from selling 50 stores 
to Sears for $576 million

----an earlier case of lampert 
     effectively self dealing  ---------
 
Shares of Sears rose 
$7.79, to $52.99. 
They are now up 51 percent
 since the end of October 

- thanks in part to speculation
 after Vornado announced its investment
 - and about 200 percent 
from the low of $18.13
 reached in March of last year

 

  


Shares of Sears 
are still well below 
their record high 
of $65.25, reached in 1997

 But that performance 
is much better 
than that of the old Kmart

 Its shares,
 which sold for as high as 
$28.13 in 1992,
 became worthless 
as a result of the bankruptcy


------rest in peace suckers -----------




At the end of last year,
 a Kmart share sold for 
almost exactly half the price
 of a Sears share 

 Now the ratio is reversed
 and it is that ratio 
that provides the terms 
of the merger.

-- i see lampert spinning dials on both bridges here
helps to be able to jump between two sets of books
till you got the deal you want
there's magic in those old hats --------------


It is clear that Mr. Lampert 
has persuaded investors 
that shares in his company
 are worth a large premium
over what he paid for them.

-------- lesson:
  the production of kapshows
  pays better more often
      then real enterprising --------------- 


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