I don’t know about you, but if someone loaned me $400 million, it would just about cover all my debts. But I’m not a sagging national retail operation that hasn’t been relevant in decades. If I were, then I’d probably need a much, much, much bigger loan to get out of hock. [More]
Earlier this week, we learned that Sears Holdings Corporation is borrowing $400 million to pay its bills from a hedge fund owned by its own CEO. Yet experts look at this transaction from the outside and wonder: what does it tell us that the company’s own CEO has stopped offering it unsecured credit? [More]
Quick, what’s 2 x 15? Did you get 40? No? Then you’re apparently overqualified to run Sears’ website.
Meet Judy, Sears’ ideal customer. When Judy’s husband died ten years ago, Sears, like her other creditors, assured her that she could continue using her account. Since then, Judy has used her Sears card to buy a washer, dryer, and refrigerator. Yet when Judy recently tried to buy a $142 saw, Sears insisted on immediately closing her account because it was in her late-husband’s name.
Reader Mike asks:
Gregg wants us to know that Sears has just hung up on one of the last people in America who hasn’t totally given up on them. He’s spent quite a lot of time lately trying to give them $1500 for a lawn tractor, but they just couldn’t figure out how to complete the transaction. Yes, Sears has finally gotten to the point that they can’t take your money even if you want to give it to them.