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Old 01-05-2017, 08:08 AM   #1
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Craftsman sold to Stanley B&D for $900 million

With Sears circling around the toilet bowl.. and cheap imports attacking the low end + people just don't tool much anymore.. Craftsman is sold to Stanley which basically makes 60% + of the tool market?

If the Donald can make tool company makes tool in the US and sell them for $500 a set.. who in the heck still buys them? I mean there aren't that many stuff left to fix.. eg the GM Bolt has little maintenance needs. Basically wiper fluids.

https://www.bloomberg.com/news/artic...ut-900-million

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Old 01-05-2017, 09:00 AM   #2
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When I was growing up, Craftsman had the best quality hand tools for the hobbyist and the best exchange policy. It's a shame to see Sears go downhill (in Canada at least).
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Old 01-05-2017, 09:10 AM   #3
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Quote:
eg the GM Bolt has little maintenance needs. Basically wiper fluids.
So... These cars don't have brakes? Suspension components? Doors, hinges, bushings, steering racks, control arms, sway bars etc etc. Just because you make a vehicle electric, doesn't mean it's held on by Velcro and duct tape.

I understand what you're saying, but I blame the shift in social standards over technological advancements (throwing stuff away and consuming more vs buying high quality and fixing it when it breaks)
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Old 01-05-2017, 10:00 AM   #4
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Quote:
Originally Posted by fliptuner View Post
When I was growing up, Craftsman had the best quality hand tools for the hobbyist and the best exchange policy. It's a shame to see Sears go downhill (in Canada at least).
Totally agree, most of my tools are from craftsman cause I simply can't afford Snap-on but they still offer amazing quality
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Old 01-05-2017, 11:08 AM   #5
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Quote:
Originally Posted by 320icar View Post
I understand what you're saying, but I blame the shift in social standards over technological advancements (throwing stuff away and consuming more vs buying high quality and fixing it when it breaks)
Technological advancements have made it a lot harder to repair things, especially at a DIY level.
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Old 01-05-2017, 01:55 PM   #6
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Actually Bolt has regenerative brakes (so basically a stator that generates electricity when braking just like the Volt 2.0 has)

So fluids (coolant + brake) and tires.. You do realise that's the reason why every major car manufacturer is jumping into the "connected" concept right? As the maintenance line item becomes insignificant.. they have to hook in the consumer some how.



Here is the maintence article:

The Chevy Bolt EV requires ZERO maintenance | Electric Vehicle News

Quote:
Originally Posted by 320icar View Post
So... These cars don't have brakes? Suspension components? Doors, hinges, bushings, steering racks, control arms, sway bars etc etc. Just because you make a vehicle electric, doesn't mean it's held on by Velcro and duct tape.

I understand what you're saying, but I blame the shift in social standards over technological advancements (throwing stuff away and consuming more vs buying high quality and fixing it when it breaks)
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Old 01-05-2017, 01:58 PM   #7
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I had to order a bearing for my Craftsman jointer.. they no longer do it at local stores, you have to call into Edmonton call center and they will order it for you.

Sears in the US is just as bad as Sears in Canada.. Also take a look at Macys!

Quote:
Originally Posted by fliptuner View Post
When I was growing up, Craftsman had the best quality hand tools for the hobbyist and the best exchange policy. It's a shame to see Sears go downhill (in Canada at least).
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Old 01-05-2017, 08:29 PM   #8
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The underlying core business of "department store" is an outgoing business.

With Sears, selling its core brands and assets is a bad move.

Craftsman is one of these brands.

I do understand the need to generate capital.

However, there is no point in prolonging the eventual slow and agonizing death of Sears.

I have a feeling that the sale is to repay Eddie's loan and to pay back other loans or to pay a special dividend to the hedge fund.

For example, Eddie made the $500 million loan at (quite possibly) an attractive interest rate.

Lo and behold, a few months (or so) later, Eddie sells Craftsman.

There you go.

A few months' worth of interest at $500 million x 2% (for the few months) = $10 million just like that waiting for 2 months.

Hedge funds (and Eddie's hedge fund company) are known to buy troubled assets, strip them of valuable assets (in Sear's case, real estate and now, the brands) to "repay" the hedge funds. In the end, once the company is completely stripped, the returns are well over 100% for the hedge fund.

What I find confusing is why Eddie is doing this ever so slowly.

From teh best of my knowledge (without googling), Eddie bought Sears (through the hedge fund and other leveraged instruments) at least several years ago.

I am assuming the hedge fund had the best intentions of actually trying to grow or save Sears.

However, the last few years were trying, so I am now positing that Eddie is liquidating Sears to recoup and dare I say, earn a return on the hedge fund's (and Eddie's) investments.

We should know very soon, depending on other moves Eddie makes in the future (including selling Kenmore and Diehard and more... real estate).
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Old 01-05-2017, 08:58 PM   #9
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Lampart and Sears is like Richard Greer in Pretty woman

buy it - break it apart to pieces and sell it

untill you meet a hooker that says - why don't you ever build anything.

Lampart needs to meet his Julia Roberts.
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Old 01-06-2017, 12:02 AM   #10
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Lifetime warranty going to be not so lifetime anymore?
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