The legend says that 89 years ago, the head of hardware at Sears Roebuck really liked the name Craftsman, and bought the trademark from an existing tool company for $500 ($6,921 in 2016 dollars). Today, parent company Sears Holdings is troubled and in need of a cash infusion, and has quietly solicited bids for Craftsman. It’s reportedly worth around $2 billion. [More]
Do you like Sears’ brand of Craftsman tools but don’t like shopping at Sears? Well, this might be good news for you. The retail chain has announced you will be able to buy Craftsman wares at Costco stores as early as this coming weekend.