Craftsman tools to get new owners? - Page 5 - Chevelle Tech
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post #61 of 66 (permalink) Old Jan 7th, 17, 12:07 PM
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Re: Craftsman tools to get new owners?

Selling the Craftsman tool name and Kenmore appliance name might just turn out to be a good thing for Sears IF they can continue to sell the products in their stores as drawing cards.

They've made a bundle and still have the customers. (just less profit)
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post #62 of 66 (permalink) Old Jan 7th, 17, 12:19 PM
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Re: Craftsman tools to get new owners?

Quote:
Originally Posted by armytrucks View Post
I worked at a Sears, circa 1999-2000. Part time college job, I went in and said I only wanted to work in the hardware department.

Two issues.

First is that Sears in the way that all of us know it is an anachronism of a retail world gone by. Think 1940, 1960 or maybe even 1980: You bought practically everything at a place like Sears. Clothes, shoes, drapes, tools,washing machines, etc. Heck, Sears sold cars and houses at one point! That's inconceivable now.

Now look at today's marketplace: Much more specialized, more boutique like. You buy cheap jeans at Old Navy, better jeans somewhere else, appliances from Best Buy, drapes from an online vendor like Amazon or Bed, Bath and Beyond, etc. You download all your music, I bought my last suit at Suit Supply, etc. Even without the internet, the old school "we sell everything" retail goliath was doomed and the internet just finished the job.

Second is/was their atrocious management and part of that is just big business' short sighted viewpoint in general. When I worked there (obviously at a very low level, not like I was in the C-suite privvy to the planning convos), they always struck me as a company that just didn't know what to do about the changing marketplace. They just seemed like a bunch of clueless old dudes who couldn't grasp how much the market had changed. They also had a lot of disdain for their customer: it was a lot more important for a person to be greeted 25 times as they walked through the store, as opposed to sales people that actually knew anything about anything. It never felt lie they had a 5 year plan............... it always felt like they were going to cut our hours even more, so this quarters numbers would be slightly better and they could get slightly better bonuses and they'd worry about the next quarter next week.

Had it been me in 1999, I would have done what they're doing now, except maybe twenty years ago it might have been early enough to save the brands.

Now, in everyone's drive to be the best Harbor Freight, they've made Craftsman into Crapsman and no one will care about anyway. Lets face it, all the Crapsman buyers have either moved downmarket into HF/Kobalt/whatever or they've moved upmarket into Snap-On, etc. I have a ton of old Craftsman and as it dies it gets replaced with Snap-on. It sucks, but what are you going to do?
snap on and matco are made in china as well
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post #63 of 66 (permalink) Old Jan 7th, 17, 12:38 PM
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Re: Craftsman tools to get new owners?

Quote:
Originally Posted by mr 4 speed View Post
Yup,back in the day Craftsman was the brand to buy for the guy who couldn't afford Snap On or Matco...bought my rollaway 25+ years ago and many thousands of dollars of Craftsman tools.

Since Craftsman's "quality" vs. price sucks now, Harbor Freight gets my business when I need something. Years ago, I wouldn't touch their stuff.
No complaints on their $99 welder,$159 air compressor or $19 spray guns for painting parts
i was a heavy duty diesel mech , before retiring in 2013 when harbor freight first came to town back in 2005 i thought id try a set of there deep well impact sockets 1/2 drive ,still got them along with a lot of craftsman tools from the late 60s and 70s
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post #64 of 66 (permalink) Old Jan 7th, 17, 7:01 PM
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Re: Sears sells Craftsman brand

Like they say about NASCAR, "they have been trying to wreck for a lot of laps, they finally got it done'

Have lots of Craftsman tools, most from Sears, a lot from pawn shops.

Sears has just had awful store management for the last 15 years. They still have lots of clothes that I like, but they have made shopping there miserable, few workers know anything, and then they hold you up at the checkout with a lot of questions and offers for service plans and new credit cards.

I stopped going there unless I specifically want something.

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post #65 of 66 (permalink) Old Jan 7th, 17, 8:56 PM
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Re: Sears sells Craftsman brand

My wife got 'retired' by Sears after working for them for 35 years.....the only full time job she ever had. They screwed her royally. As others have said here, they have been dying a slow death for a long time. About two years ago, my old Craftsman tape measure stopped retracting....I took it in for a replacement. They no longer make Craftsman tape measures.....I was told to go select a Stanley tape measure of similar features. I got that free, but no more lifetime guarantee on the Stanley unit. For 40 plus years we had only Kenmore appliances.....our last washing machine died after only 5 years, the compressor on the refrigerator died after only 5 years.....that's the end of buying Kenmore appliances in this house. We very seldom go to Sears for anything anymore.

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post #66 of 66 (permalink) Old Jan 8th, 17, 9:29 PM
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Re: Sears sells Craftsman brand

Quote:
Originally Posted by blue_69_malibu View Post
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.
From https://en.wikipedia.org/wiki/Sears_Holdings:
Quote:
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.[11]
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.

Quote:
Originally Posted by 70ssclone View Post
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.

Quote:
Originally Posted by hmardown View Post
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
hmardown
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.

Quote:
Originally Posted by p40 View Post
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.

Quote:
Originally Posted by Bill Pritchard View Post
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.

http://www.garagejournal.com/forum/show ... &showall=1

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Did you post in the CORRECT FORUM?

Last edited by Schurkey; Jan 8th, 17 at 9:52 PM.
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