SEARS BANKRUPTCY COMING

[Jaloc]

The only reason they are going bankrupt is too get rid of the pension liability YRC may do the same thing next year?

Lampert cites Sears’s pension fund and its 90,000 beneficiaries as a huge drag on the company. “Amazon doesn’t have this kind of thing and neither does Walmart. This was a problem for him,”

 

[pro1driver]

You are right, arguing tools is like arguing vehicles, no winner.
As for warranty, no one beats Sears.
Sears replaced a screw driver, pull handle cut in two by a cutting torch, an entire box of tools that had been in a
shop fire, Why? because upper management Told my brother, "if you can read Craftsman, its our policy"
Most of my tool failures have been,plain ordinary abuse, as you called it.
I never made my living with my tools, they are for my convenience, I have no PET tools, if I put a pipe on a tool
and it fails, so be it, warranty or not it is replaced if need be.
I have more tools from my dads truck shop back in the 40s and 50s than most shops have today.
No, they are not PETS either.
You said you don't use an impact wrench often, try changing track pads on a IHC track loader
You will wear out or bust about 6 good 9/16 impact sockets for each side, they are 3/8 SAE and come
off tight every thread.
BTW, Sears replaced those also!

have you ever thought of, or tried, "anti-seize" on the bolts/nuts when you go to reinstall them?

it is not like oil, so the nuts/bolts, will not loosen up over time, it does make it so much easier to remove them however.

i do believe i heard the, "if it says Craftsman, we replace it motto"...

 

[pro1driver]

The only reason they are going bankrupt is too get rid of the pension liability YRC may do the same thing next year?

Lampert cites Sears’s pension fund and its 90,000 beneficiaries as a huge drag on the company. “Amazon doesn’t have this kind of thing and neither does Walmart. This was a problem for him,”

which (to me), it's better to have oneself set up a retirement fund at the bank, rather than to trust any company. you'd be in charge of your own funding, instead of putting one's thumb up it's ass and HOPE the company makes contributions.

 

[seabreeze]

have you ever thought of, or tried, "anti-seize" on the bolts/nuts when you go to reinstall them?

it is not like oil, so the nuts/bolts, will not loosen up over time, it does make it so much easier to remove them however.

i do believe i heard the, "if it says Craftsman, we replace it motto"...

We use anti-seize on everything here on the coast, a track loader running in salt water and sand 3 or 4 y ears
anti-seize is worthless as teats on a boar hog.
Why IHC used a fine thread just complicated the problem, regardless, they're not coming off, plus they sell more bolts.

 

[DCM_Doc]

We use anti-seize on everything here on the coast, a track loader running in salt water and sand 3 or 4 y ears
anti-seize is worthless as teats on a boar hog.
Why IHC used a fine thread just complicated the problem, regardless, they're not coming off, plus they sell more bolts.

I saw the same problem on the South China Sea. Blowing sand would take the paint off dozers, loaders etc. then the salt in the air would rust everything. We used a cutting torch to take off most everything. Anything close to the fan got a double dose of blown sand. I saw aluminum oil/fluid coolers get the paint taken off by the sand blown by the fan then the salty air would corrode the metal. Copper wire connections would also corrode.

 

[20_yrs_2_go]

The only reason they are going bankrupt is too get rid of the pension liability YRC may do the same thing next year?

Lampert cites Sears’s pension fund and its 90,000 beneficiaries as a huge drag on the company. “Amazon doesn’t have this kind of thing and neither does Walmart. This was a problem for him,”

As I posted earlier in this thread other pension companies might have to take on the sears pension fiscal burden
It reminds me of the time Schneider founders son went to court to separate from the teamsters union
Turns out...he might have saved his company from the same fate sears is going through now

 

[Apostolic]

Whoever wins the Mega Lottery next Tuesday,could help Sears out,& still have a few bucks left over.

 

[20_yrs_2_go]

Whoever wins the Mega Lottery next Tuesday,could help Sears out,& still have a few bucks left over.

Except Sears has already sold off Kenmore and the Craftsman brand not to mention bankruptcy papers already filed
I wouldn't intervene this situation if I won the Powerball and mega millions jackpot because you would be hounded by sears pension holders who must be very ticked off right now

 

[PDX Buddha]

SEARS bankruptcy
https://www.cnbc.com/amp/2018/10/10...r-bankruptcy-filing-as-soon-as-this-week.html

No Great loss. Sears was broken by the mid 80's. It was noticeably going downhill when I left them in 1983 after 15 years employment. I was a Receiving Manager when I quit. When ESL Investments bought up both Sears and K-Mart, the writing was on the wall. Edward S Lampert is a venture Capitalist who buys up distressed businesses, then bleeds them dry , taking the assets before dumping the carcass. Fast Eddie now owns most all of the Real Estate, which was his plan all along. What's really sad is the employees who stuck it out to the end, and those who will probably get screwed out of their Pensions when the Bankruptcy Court gets done settling Creditors Liens.

 

[PDX Buddha]

Whoever wins the Mega Lottery next Tuesday,could help Sears out,& still have a few bucks left over.

There's really nothing left of value in Sears to save. Real Estate is already in Eddie lampert's hands and out of touch of the Bankruptcy Court. The Brands have been sold.

 

[PDX Buddha]

Except Sears has already sold off Kenmore and the Craftsman brand not to mention bankruptcy papers already filed
I wouldn't intervene this situation if I won the Powerball and mega millions jackpot because you would be hounded by sears pension holders who must be very ticked off right now

Luckily, I cashed my Pension out in 2015, 32 years after i quit. At the time I told others to do the same, because it was shaky even then.

 

[20_yrs_2_go]

Luckily, I cashed my Pension out in 2015, 32 years after i quit. At the time I told others to do the same, because it was shaky even then.

I'm not sure how sears structured thier pensions but their are some out there that freezes your funds until your about 65

 

[PDX Buddha]

I'm not sure how sears structured thier pensions but their are some out there that freezes your funds until your about 65

They only can freeze your account until age 65 if you are still employed with them. I was not. I quit in 1983 after 15 years of employment. Enough to be vested, and there may have been some special provisions on the Pension then, as it was relatively new. The Company was forced by the Feds to come up with a proper Pension in addition to the established Profit Sharing Plan, because numerous other companies that offered similar Profit Sharing Plans were found to be dipping into the plans,so the Feds attempted to fix that by banning all retirement plans that only had Profit Sharing schemes. I took my Profit Sharing part when I left the company, because it was allowed then.