Thread regarding Sears layoffs

Any other Sears FLS managers/associates feeling more pressure than usual with credit?

There is SO MUCH pressure to make credit I don't know where to begin. Those of us who are in management have to post on Pebble on an HOURLY basis with updates on credit. The district managers seem to do nothing but troll the Pebble page that they have set up just for credit. They don't want to hear that the store was slow, or that associates are trying their best, or that we (managers) are coaching them. They want credit apps to roll in.

I have coached until I can't coach anymore. We've had a credit specialist from Citibank visit our store for "classes". We have done everything we can. Yet it's the same old story. Customers just want to pay for their stuff. They don't want to be told how Sears wants them to pay. When I do observations and coaching and help the associate to encourage customers to apply, they are almost uniformly insistent on saying no. In fact, at one point, I almost had to call the police on this one guy...apparently we touched a nerve and he flipped out, pushing over a merchandiser display on his way out the door, yelling obscenities.

In addition to our conference calls, emails and Pebble posts, district managers are calling the store and speaking with random associates that aren't doing well in credit. We've already lost a long-time softlines associate that was a part of their harassment. She came into the office and cried because she feels that she is "no good" in Sears eyes just because she is having a rough month in credit and they reamed her for it.

I am almost at my breaking point. This company is beyond unbelievable.

Come to think of it, I honestly think the intense pressure is a tactic of attrition. Instead of the hassle and expense of laying off tens of thousands of associates, they pressure them into leaving on their own accord.

Think about it, the company is in its final stages -- they have to get rid of everyone somehow.

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| 1666 views | | 16 replies (last March 15, 2017) | Reply
Post ID: @OP+MiLEzMc

16 replies (most recent on top)

When my customers get the approval tape from the register for why not lease it, I throw it away casually. I cannot be a part of them getting involved in something so ethically wrong. If they seek it out, that's in them but I won't be a part of it.

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Post ID: @1vku+MiLEzMc

Why Not Lease It is a shyster company. I sell appliances, there is nothing I dread more than a customer finding out he or she is "approved". What they don't know is that they will be taken for a ride with WNLI.

Most customers think that WNLI is a part of us, so if there's a problem, they storm into the store angry at US. Then we have to call WNLI, which in my experience, results are better when speaking to a wall.

The customer service is beyond appalling, whenever there are problems (and believe me, there are PROBLEMS), they are rude, indifferent and don't know anything. I have had better experiences with Comcast, the IRS and other organizations notorious for poor service. WNLI takes the cake.

If I get approached with a lease offer, I try my best to steer them to layaway or a Sears card. At a last resort, I break down the math of the cost of ownership in hopes to steer them away. I am doing them a favor.

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Post ID: @1zdq+MiLEzMc

Well yeah. I'm sure a large chunk of the top executives have investments in some of the other companies like citi and why not lease it. It would only make sense..I wouldn't just let Eddie get all the cash. I'd join in too to get a piece.

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Post ID: @1hae+MiLEzMc

I wonder if Mr Lampert owns or has a vested interest in Why Not Lease It or what ever there parent company is. Everything we push is directed back to something he has a vested interet in.

Hasn't everyone figured that out yet?

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Post ID: @onf+MiLEzMc

If you don't get the sears card, you'll almost always get a lease. It's always something..oh god..leasing in appliances..the horror memories from when I worked there..

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Post ID: @uax+MiLEzMc

Yes, they are almost always approved.

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Post ID: @oav+MiLEzMc

Is the average Sears/KMart customer even even credit-worthy enough to get a card to start with?

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Post ID: @lvp+MiLEzMc

"Customers just want to pay for their stuff"

Don't know what is sooooo hard about that concept to so called "higher ups"

As a former Sears employee, and now a maybe once-a-year customer (Lands End, primarily), I endorse this. If you're going to pressure me to sign up for credit, I will buy Lands End online, or go to other brick and mortar stores.

You'll not see me in a Sears, ever. Sears ruined any good will the ex-employees have for them with this kind of annoying pressure.

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Post ID: @wpt+MiLEzMc

And btw, I was required to attend a credit meeting last month.

I was 200% in credit. I was more than irritated.

It is more than harassment.

I'm wondering if Mr Lampert decided to buy a controlling interest in Ringling Brothers if I would be required to sell tickets to his circus.

I'm already required to sell his 5321 credit card that doesn't give back points unless the merchant reports (yes, it says that in the fine print).

And I also happened to "notice" Citi converted the old Sears blue cards over Citi Mastercards last year.

So if Sears files bk and he has a controlling interest in Citi that seems like a conflict to me.

But hey, beat the crud out of the little people to get credit.

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Post ID: @wtr+MiLEzMc

I found this article from 2007....explains the greed to me....

Lampert’s Wrong-Way Bet on Citi

By DEALBOOK NOVEMBER 7, 2007 1:07 PM November 7, 2007 1:07 pm

In August, a hedge fund controlled by Edward S. Lampert, the value-oriented billionaire investor, disclosed that it had built up a $1.3 billion stake in Citigroup, the beleaguered financial giant. At the time, Mr. Lampert’s quickly growing stake, backed by his reputation for finding bargains, prompted some to wonder whether Citi’s battered stock was ready for a rebound.

These days, however, Mr. Lampert’s big investment looks a little premature — and worth considerably less than a few months ago.

Over the past year, RBS Partners, which is an affiliate of Mr. Lampert’s ESL Investments, has steadily poured money into Citigroup’s stock. As of March 31, it valued its stake, then about 15.24 million shares, at $782.6 million. It increased that stake to 24.8 million shares by June 30, giving its Citi holdings a value of about $1.3 billion, regulatory filings show.

On Tuesday, Citigroup shares closed at $35.08. That would value RBS’s stake at $870 million, a paper loss of about $400 million from late June.

Some caveats: Because Mr. Lampert’s fund didn’t say how much it paid for its Citi shares, his overall loss can’t be calculated from the outside. In addition, because the fund reports its holdings just once a quarter, it is possible that its stake has declined since June 30. It will be interesting to see the figures in Mr. Lampert’s third-quarter update, which is likely to be filed later this month.

Among the investing cognoscenti, Mr. Lampert is often mentioned in the same breath as Warren E. Buffett. His strategy revolves around taking stakes in companies he sees as undervalued. Perhaps most famously, he turned around a bankrupt Kmart and combined it with Sears to form the Sears Holdings Corporation.

At the time of Mr. Lampert’s investments, Citigroup was under pressure from investors and analysts to cut costs and grow faster. Some critics even urged a break-up of the financial giant.

Since then, however, Citigroup has disclosed billions of dollars in losses related to mortgage-backed securities and reported a 60 percent drop in net income for its third quarter. On Sunday, Charles O. Prince III resigned as the firm’s chairman and chief executive. Citigroup said that it would take an additional $8 billion to $11 billion related to subprime mortgages.

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Post ID: @cqr+MiLEzMc

The whole fixation on credit is due to the deal Eddie made with Citibank. If Sears doesn't open 1.4 million Sears Mastercards we have to pay for the 5321 points. Right now Citibank is fronting the cost of that.

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Post ID: @nfa+MiLEzMc

I figured that Eddie Lampert would somehow make money on these master cards after the stores close but your idea is a good one.

Sears doesn't care about sales but credit credit credit. Odd for a store that sells things. Lots of people want to pay cash or use their debit card. Or they already have a rewards card from another company & don't need Sears.

We only making them uncomfortable & alienating them with this approach.

There's something going on because with the hours reduction, there is still time to push this on people while sales are lost.

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Post ID: @lix+MiLEzMc

We have "credit tables" set up in an attempt to catch ant customer that passes it by. It is manned by an associate every hour the store is open. They are there for one to two hours each. Their credit goal is three apps an hour. They only leave the table to complete the app at a register.

It almost feels like prostitution, if you ask me.

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Post ID: @jia+MiLEzMc

Instead of the hassle and expense of laying off tens of thousands of associates, they pressure them into leaving on their own accord.

That, is quite an effective technique - you should inform that associate, if you can, that she did ABSOLUTELY NOTHING WRONG

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Post ID: @kgf+MiLEzMc

"Customers just want to pay for their stuff"

Don't know what is sooooo hard about that concept to so called "higher ups"

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Post ID: @epd+MiLEzMc

I am so glad to be rid of Sears, they keep nagging you for credit, sywr, and emails. What numbers are your registers. Enough. My store will close on the 26th, I am so happy to final get out. Your self esteems go down, a little at a time. There is life after Sears. God Bless everyone.

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Post ID: @yjq+MiLEzMc

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