Quote:
Originally Posted by Gretch
Sears has been in a death spiral for 20 years give or take. Anyone with a sense of business visiting a story knew that viscerally.
PE MBA whiz kids make some of the dumbest business decisions I have observed. Book smarts does not take the place of experience and street smarts, and it never will.
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I don’t think the latest management’s goal was to make the company successful. They wanted to tear it down for the purpose of transfering as many of the company’s assets to their own pockets as possible. Sears didn’t die because of management’s incompetence, it was killed for the benefit of its owners. It’s a get rich scheme that’s been going on for many years. One example is well documented in a book entitled “Glass Houses.”