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Sears CEO Steps Down, But That’s Only the Beginning of the Bad News

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Sears Holdings Corporation has apparently filed for Chapter 11 bankruptcy on Monday, announcing that CEO Ed Lambert would be resigning from his post in order to aid the restructuring process.

This is pretty sad news as Sears is practically an American institution. There’s little doubt that the changing tide of commerce from brick-and-mortar stores to online shopping has had a huge role in the company’s decline, however, it seems a large part of the blame rests on the retailer itself.

The company issued a statement confirming that it has filed voluntary petitions for bankruptcy relief in an effort to “continue streamlining its operating model and grow profitability for the long term.”

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CEO Ed Lambert has also resigned his post to allow a team of executives to take over day-to-day operations, and restructuring expert Mohsin Meghji will lead the firm’s transition into Chapter 11.

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Lambert will still remain chairman of the board, as the company’s largest investor and creditor, but a new independent director, William Transier, has been appointed due to his expertise in overseeing complex capital reorganizations.

While the company said its Sears and Kmart stores will continue to operate as usual, another 142 unprofitable locations will be shuttered by the end of 2018.

Analysts have been speculating for quite some time that the Sears company was not doing very well, and for good reason. Over the last decade, the firm has shutdown hundreds of stores and is more than $5.6 billion in debt. Its stock price has fallen so low they’ve had to sell off several major brands just to keep things afloat.

While it seems Lambert has an optimistic view of the restructuring process, many other experts are not feeling so upbeat. Neil Saunders, a man who doesn’t hold back the nitty gritty reality of a given situation, stated that “the problem in Sears’ case is that it is a poor retailer. Put bluntly, it has failed on every facet of retailing from assortment to service to merchandise to basic shop-keeping standards.”

“That failure has manifested itself in lost customers, lost market share, and a brand that has become tarnished and increasingly irrelevant,” Saunders finished.

Here’s to hoping that Sears will take such criticism seriously, learn from their mistakes, and manage to turn the ship around before it’s too late.

Source: TheBlaze

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Trump Press Secretary Sarah Huckabee Sanders Set to Run for Governor

Oh! Is that right!?

John Salvatore

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Sarah Huckabee Sanders has to have skin tougher than a rhino’s. The unbelievable verbal bashings she took from the media, Hollywood elites, and liberal blowhards on Twitter would be more than enough to make anybody want to quit and walk away. But SHS is a different breed, apparently. She’s welcoming the haters with open arms. From Fox News: Former White House press secretary Sarah Sanders is expected to announce her candidacy for governor of Arkansas in the 2022 elections on Monday, Fox News has learned. Want to see some tolerant liberal reactions? Of course you do! https://twitter.com/Redpainter1/status/1353523584237510656 https://twitter.com/JRehling/status/1353522020470804480 https://twitter.com/AdamParkhomenko/status/1353518538116521986 https://twitter.com/KaivanShroff/status/1353510833050054656 https://twitter.com/drvolts/status/1353510501813153792 https://twitter.com/TheRickyDavila/status/1353524929983963136 https://twitter.com/PalmerReport/status/1353521485483290624

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Washington Post Fact Checker: We Won’t Keep Track of Biden’s Lies Like We Did for Trump

The media: full of objective journalists!

John Salvatore

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Joe Biden doesn’t lie. He can’t. He’s a Democrat and Democrats do not tell lies. Of course women should be allowed to murder their children in the womb and get away with it! Of course men can claim to be women and there’s nothing wrong with their mental state! That’s how these people think, man. It’s criminally insane. From The Daily Wire: Glenn Kessler, a “fact checker” for The Washington Post, kept track of everything he and a team of deemers deemed to be a lie uttered by President Trump. His final tally of Trump’s “false and misleading statements” – 30,573. CONTINUED: But according to a new report, the Post team won’t be keeping score on President Biden, a Democrat. “Trump’s departure also equals an end to having a false claims project for the current president, as The Post said it does ‘not have plans to launch a Biden database at this time,’” The Daily Caller wrote. Just for fun, check out Kentucky Senator Rand Paul blasting George Snuffaluffagus on Sunday morning… https://www.youtube.com/watch?v=Vub26OEWyV8&feature=emb_title

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