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moondust

(21,175 posts)

14. Eddie Lampert

Fri Jun 1, 2018, 02:08 PM

Jun 2018

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Lampert is psycho Ayn Rand follower. It's said that his management style for Sears, where he is CEO, is to pit the company's operating units against each another. This is how he felt the business would benefit. Not by cooperation. Not by combining talents and strengths, but rather, by canabalizing each others' businesses and profits.
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https://mikenormaneconomics.blogspot.com/2016/08/hedge-fund-hole-eddie-lampert.html

Lampert's earnings in 2004 were estimated to be $1.02 billion, making him the first Wall Street financial manager to exceed an income of $1 billion in a single year.
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In January 2013, it was announced that Lampert would take over as chief executive officer at Sears...
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https://en.wikipedia.org/wiki/Eddie_Lampert#Career

My local Sears closed I think around 2012 after Walmart, Lowes, and Target all moved in nearby and Costco announced it would soon be moving in (and then did). Sears didn't expand into selling groceries so their "one-stop shopping" model was bested by Walmart and Target locally plus online shopping. IMO

Ronnie, Maggie, and the "trickle down" shift from rewarding the people who do the work to rewarding "investors" (who may be sleeping on their yachts all day) made it all possible. IMO

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The latest Sears closures are a symptom of the disease. [View all] guillaumeb Jun 2018 OP

The bottom line is runaway greed lunatica Jun 2018 #1

Indeed. guillaumeb Jun 2018 #3

Sears has been a poorly run corporation for a long time exboyfil Jun 2018 #2

One anecdote does not constitute proof. guillaumeb Jun 2018 #5

You are right about that exboyfil Jun 2018 #8

Well said. guillaumeb Jun 2018 #9

My husband had a summer job at Sears. It was a pretty good deal. LeftInTX Jun 2018 #17

Craftsman is now made in China mikeysnot Jun 2018 #36

Eons ago I bought a seat belt set from them. One buckle was cracked when I got home and RKP5637 Jun 2018 #7

Almost a duplicate for my experience exboyfil Jun 2018 #10

Yep, they had some really good applances. n/t RKP5637 Jun 2018 #12

Got a new washer and dryer from them in 2016 and, sprinkleeninow Jun 2018 #27

It's sad to see a company like Sears was probably fade away. When I was a kid it was always a RKP5637 Jun 2018 #29

True. I now recall when we shopped, the fragrance of fresh popping sprinkleeninow Jun 2018 #52

... RKP5637 Jun 2018 #53

Our Sears Kenmore washer & dryer... Dulcinea Jun 2018 #30

Yep, I had a set like that. I wish I still had them. I kept them running and running. RKP5637 Jun 2018 #31

We got a Kenmore washer/dryer set in 1985 right after we were married. yonder Jun 2018 #33

Yes the Kenmore products were always very reliable and last forever. YOHABLO Jun 2018 #34

Of course, Kenmore was just a brand name stamped on some other manufacturer. erronis Jun 2018 #38

We've had our pair since 1989! Plucketeer Jun 2018 #42

The Sears near my house DownriverDem Jun 2018 #37

... because Reaganomics works so damn well. n/t RKP5637 Jun 2018 #4

The proof is everywhere. guillaumeb Jun 2018 #6

Reagan would be proud! I just can't understand the fools that keep voting these people into office. RKP5637 Jun 2018 #11

sears is one of those companies that seemed to guess wrong at each opportunity dembotoz Jun 2018 #13

Sears employees were often full time employees. guillaumeb Jun 2018 #15

Sears most definitely demanded tax breaks fescuerescue Jun 2018 #28

Sears had infrastructure and expertise in place dembotoz Jun 2018 #39

But online retailers have minimal infrastructure. guillaumeb Jun 2018 #47

That's pretty much it. Captain Stern Jun 2018 #55

Companies innovate until they don't dembotoz Jun 2018 #56

Eddie Lampert moondust Jun 2018 #14

Very well said. guillaumeb Jun 2018 #16

Yes. And throw in some "interest" by the russian mafia/oligarchy. erronis Jun 2018 #40

Sounds like a raging asshole. smirkymonkey Jun 2018 #20

THANK you! jmowreader Jun 2018 #46

Our economic system is broken by nature. Initech Jun 2018 #18

I would say broken by design. guillaumeb Jun 2018 #19

I blame Ayn Rand. Initech Jun 2018 #23

Agreed. She gave literary and philosophical legitimacy guillaumeb Jun 2018 #45

Things have permanently changed. Blue_true Jun 2018 #43

My biggest proof.. Crutchez_CuiBono Jun 2018 #21

So many malls are ghost towns anymore. Initech Jun 2018 #24

Unless we say no. Crutchez_CuiBono Jun 2018 #25

The face of America, now and in the future. RKP5637 Jun 2018 #54

Meanwhile, Donnie is about federally "bail out" Big Coal... Blue_Tires Jun 2018 #22

Thank hedge fund manager, ex Goldman Sachs, CEO, Edward Lampert. sinkingfeeling Jun 2018 #26

Ummm Yuorik57 Jun 2018 #32

So the jobs are at UPS and FedX? YOHABLO Jun 2018 #35

And the money services (Visa, Amazon CC, etc.) erronis Jun 2018 #41

That free delivery is not really free. guillaumeb Jun 2018 #48

Sears was being run by a libertarian who made the various divisions pnwmom Jun 2018 #44

True, but the conditions that allow this did not start yesterday. guillaumeb Jun 2018 #49

Eddie Lampert is the cause of Sears downfall Perseus Jun 2018 #50

And Lampert's company will charge Sears for its own destruction. guillaumeb Jun 2018 #51