Originally Posted by blue_69_malibu
Sears is selling/liquidating it's assets....which was basically Craftsman and Kenmore.
The three brand names that had any value were moved into a separate corporation years ago. That's how long Sears has been anticipating The End.
In 2007, the company placed its three major brands in KCD IP
, a "separate, wholly owned, bankruptcy-remote subsidiary
". KCD stands for the three brands: Kenmore, Craftsman, DieHard. KCD IP then issued $1.8 billion in bonds that were sold to Sears' insurance subsidiary based in Bermuda
. Sears would thus pay KCD for use of the three brands' trademarks.
In other words, they invented a profit-skimming dodge, and a bankrupcy-dodge all in one. It's owned by a foreign company that isn't subject to USA taxation and regulation. And they did it ten years ago--so they've known Sears was pretty close to it's expiration date at least that long.
I love craftsman tools , I have many and they are great , most of the time I just can't see the point of paying quadruple to a tool truck when my craftsman tools have always done the job.
Until they DON'T do the job. I dealt with dozens of people who claimed the same thing--"my homeowner-grade tools are just as good as the professional-grade tools."
Until they actually needed
professional-grade tools, AND had the opportunity to use them. I should have gotten commission from Snap-On.
well at least Stanley black & decker is a American manufacturer. hate to see sears go down the tubes & lose the tool line. I usually head to sears for my tools. I do like the fit & finish of the snap-on & mac etc. etc. tools. but I can't see paying 3 or 4 times more just to have a name. I've never had a sears hand tool fail on me. I've exchanged sears ratchets that were old enough to vote without any questions. and they needed to replaced because of neglect & abuse. jmo
Stanley Black and Decker (SBD) isn't really an American manufacturer, given their major investment in Asian manufacturing. Sears isn't going to lose the tool line. Sears has the right to use the name, AND to independently source tools for the next 15 years FOR FREE. After 15 years, they pay SBD 3%; but Sears won't make it that long, so it's moot.
snap on and matco are made in china as well
Not the entire product line. Some fraction of the product line is ChiCom. A much smaller fraction than Crapsman.
Originally Posted by Bill Pritchard
We very seldom go to Sears for anything anymore.
Me, too. Went there last Friday, though. What a wasteland. Bought nothing.
Stanley Black and Decker is well-known for driving formerly respected names downmarket. It's unlikely they're going to "save" Crapsman, They've already got two "upmarket" brands already--Mac and Proto (which are often the same tool with a different name stamped into it, and sold at different price-points via different retail strategies.) The best
you can hope for is to see the Mac Expert (import junk) line rebadged as Mac Craftsman.
40% of Crapsman is in the Lawn 'n' Garden sector, and that's the only thing Crapsman has that Stanley doesn't have four brands of already. SBD bought the Crapsman name for the Lawn 'n' Garden part of the business, the hand and power tools was just bonus.
Reading between the lines of the SBD shareholder presentation, there's going to be Sears Craftsman, and there's going to be Stanley Craftsman; and the two lines may or may not have much in common. Good luck getting Stanley Craftsman stuff warrantied at a Sears store, or vice-versa.
First Guess: Sears won't make it much past July, which is the time-limit for the Securities and Exchange Commission investigation into Sears financial dealings with the crooked CEO. The CEO (Lampert) just loaned Sears $500 million, and that just happens to be about what the first payment for the Crapsman name comes to. So, no, Sears will not go bankrupt and leave debts behind, because the major debts are to the CEO.
My local store looks like they're going to be done next month, and they've actually announced the closing of the biggest store in my state.
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