The slow death of Sears and Kmart is a sign of a fundamental, and possibly irreversible change in the once ‘great’ society of the United States of America.
A man who works for evil finance institutions Morgan Stanley, Crédit Suisse and Goldman Sachs (Simeon Gutman) has already announced who will benefit from the death of Sears and Kmart. Apparently electronics store Best Buy would benefit most, followed by home improvement stores Home Depot and Lowe’s.
It should be noted that Crédit Suisse has been the most vocal in claiming Sears Holdings is already dead. But it turns out the main motivation of these financial investment institutions is real estate. In my tracking of the housing market debacle it’s become clear to me that the main reason for the artificially created property market crash is so property speculators, mainly REITs (Real Estate Investment Trusts) can get their hands on a lot of properties real cheap and even get taxpayers to fund the rebuilding projects, in other words it’s the classic Snidely scheme. (read: “Everybody wants a better outcome, everybody but the landlords.” and The biggest Scam in U.S. History and Snidely the illegal forecloser returns)
One of the driving motivations for Eddie Lampert and the vulture capitalists who created Sears Holdings is to shutdown stores only to carve up them up into smaller commercial spaces, or to lease them out to competitors (they can actually make more money that way). For the properties they don’t own Sears Holdings has actually been making millions by getting the property owners to end lease agreements early!
This brings me to my next point that Sears and Kmart are not your parent’s Sears and Kmart. I’ve read commentaries which boast that Sears has come back from disaster before. That was not the same Sears. I’ve recently read articles about Sears out of Washington state in which the author still refers to Sears as “Sears Roebuck”. Sears Roebuck died in 2005! Today’s Sears-Kmart is controlled by a company created by Mitt Romney-Bain Capital style vulture capitalist known as Eddie Lampert.
Sears Holdings was created in 2005, after Kmart emerged from bankruptcy in 2003 (newly named Kmart Holdings) and suddenly took over Sears. This was accomplished easily because the controlling stockholders of both retailers were actually on the same team!
Eddie Lampert, the man driving Sears Holdings now was also the man driving the newly created Kmart Holdings in 2003 (via his ESL Investments fund)! In other words Sears Holdings was known for a short two years as Kmart Holdings.
Many analysts have stated that the way Lampert has been running Sears Holdings will destroy the company, it now looks intentional: “The way it’s being managed, it doesn’t work. They’re going to continue to deteriorate.”-Mary Ross Gilbert, Imperial Capital
Are Lampert and his cronies capable of bullshit? Eddie Lampert worked for evil Goldman Sachs (that should be proof enough). In 2003 Lampert was kidnapped, and claimed that his kidnappers said they were hired by AutoZone executives to kill him! Lampert was also the largest stockholder in AutoZone, and an executive director at the time! The FBI concluded that Lampert’s story about AutoZone executives trying to kill him was bullshit: “The AutoZone story was just a hoax.”-unnamed investgator
But there was a result; the president of AutoZone resigned and guess who took over? Eddie Lampert! AutoZone has been documented to use prison labor.
In other signs of Failed State decadence, increasingly many Kmarts have been the sites of crimes including murder. Another despicable crime involves the sex trafficking of teenagers in Tennessee. A man described as an up and coming rapper has just been sentenced to 10 years in federal prison after being convicted of selling a 14 years old girl that he met at a Raleigh Kmart in 2013.
Today’s Sear-Kmart is not your daddy’s Sears and Kmart!