Thread regarding Sears layoffs

I know this is all really sensitive, but I just dont get the sense that this is a shell game.

I think there have been some bad retail decisions and strategies that were intended to succeed but failed.

The thing about all of this is that it brings a false sense of hope to those who really want the business to succeed. So what would you think is the moral and right thing to do:

1. Tell everyone you are trying to make the business work. While really making policies and behind the scenes deals that in no way save the business but cover the shareholders butts and make a profit for said shareholders. And the deals and refinancing and loans that seem to be helping the business and keeping the business going so that SHC can become profitable and "transform" into a something else. When in reality it is all a shell game to buy time so that the company can be pillaged for its real estate and other assest until the time that the powers that be can file bankruptcy and walk away with lots of profits, and avoid any legal repercusions. And continue to blow sunshine and rainbows up everyones backside until the day everyone loses their jobs and the whole thing is shut down.

OR: 2. Tell the truth, admit it is not working, and quit pretending that every new policy and idea is really the new thing that will save the company.

Funny...I am not by any means saying things are great for Sears Holdings....just saying why compound things that people can already read online. It's almost like people are "relishing" in the negativity. I just don't get that. I feel bad for those who read this and get really upset. When I said it was a positive thing earlier in the thread maybe you misunderstood what I was saying. Not a positive thing like Yea Sears is going great now. All I meant was it buys us some time. And for me all that is positive is every time I get a check for working....nothing more nothing less.

@1dge - Okay, we understand the posts and comments on this site keep fogging up your rose colored glasses. My question is, why visit this site if confronting the reality of the SHC situation is so intolerable for you? Also, it is rather condescending that you place the onus for the terrible news about SHC on the people that post it! They didn't generate the news, the monumental failures of the SHC leadership generated the news! Conversely, you are entitled to post all the positive news about SHC that you wish; nobody is stopping you from doing so. However, you seem to be coming up a little short there!

@1pdc Once again okay.....why so much anger toward Sears Holdings? If that is what happens, well then none of us can change that. You must really have a lot of insider knowledge (complete sarcasm) as you seem to have a negative answer for EVERYTHING. Sorry can't live my life that way. Once again not delusional or drinking the kool aid or stockholme syndrome or whatever term you want to throw at me....just not really willing to be so "down in the dumps" everyday. Once again no one is naive here....we are all adults and know the situation. I understand that this is how you might find it best to deal with this, so to be fair, you have your right to say and do whatever you need to do, but rest assured I am not naive.

BK laws have changed a lot since KMart was last bankrupt. The majority of retailers that go bankrupt are liquidated. Just look around. No one will save Sears or Kmart because there isn't enough left to save. Everything of value has been sold, the names have been trashed and the physical assets are in horrendous condition.

@1acc. Thank you!

@sel probably one of the most sensible posts I have read here in a long time thank you

Sure. I read that article too. I think I read all of them. I read all articles I can every day. I encourage everyone to read all the articles. Most of the articles commented that the actions buy us some more time which is a good thing. I think we all understand something will happen, who knows what or when. Look at Kmart....was bought out of bankruptcy right and the stores have been around for 12+ years since. We really dont know the outcome of any of this.....just work, look out for yourself, and try to save a little if you can.

To give a little perspective:

http://news.google.com/news/url?sa=T&ct2=us&fd=S&url=http://investorplace.com/2017/05/sears-holdings-corp-shld-stock-still-a-bankruptcy-threat/&cid=52779499350652&ei=BockWdCsIMaA2Aaa4L_gBw&usg=AFQjCNE-CCNVqlTueh-Qv_LR3kTzRJIFnQ

one of the lenders Bill Gates or Eddie refused to roll over 100M of the loan. Eddie owned a little over 100M of the loan. i think Eddie took the money and ran. It was discussed elsewhere if he did a new loan arrangement he would be subject to clawback of funds as an insider if the Co went BK within 6 months . I wrote elsewhere Eddie would take the money now ti grease the skids for BK a little later.

There is so much more involved here. We always have debt and have for years, so vendors have been shipping with the debt we had in the past. It's not that odd to re structure loans and push them out. Of course none of us on this post are the experts, so we are all kind of giving odds and ends of info. This honestly isn't a bad thing. It's just part of business deals. And once again no one is drinking any "kool aid." NO one on this forum is delusional or out of touch. Every one is just trying to do the best they can while they can, keep a job, and keep making money for their family. You aren't shocking or scaring anyone by saying "the ship is going down." We all understand that our company will change in the future, so it's kind of silly to keep saying that. You have no idea what could be in store for us as none of us do except for Eddie. We could be sold, we could go bankrupt, we could continue on in a much smaller format. We could have jobs, we could lose jobs, no one knows. No need though to try to scare anyone or take the negative route. We are all adults....we know the risks.

It's not being negative. It's being realistic. Sears still didn't come out the pocket, another company did. Like the post said they still owe $400 million dollars. Why would a vendor send you anything when in so many words you're saying you don't have the money. Cash upfront is what they are start going to ask for knowing Sears can't pay anything upfront and that's how the ship will go down.

I beg to differ. It does matter for those who are working. And it will help if the company is in business until July or September or two years from now or is bought out by someone else.....every paycheck helps. And no one knows the outcome other than Eddie......

No one is "drinking the koolaid." As I keep saying, we just don't all choose to find the negative in everything.

I see the tone police are busy as usual, nattering about whether various statements are "negative" or "positive". Anybody care to guess why they never bother to address whether or not the story is true?

All you people need to talk to the people at Kmart who were there when they went bankrupt. Same things are happening now with SHC. Keep drinking the koolaid. It's not going to matter if they go under in July or later. They're done

What is the point of telling anyone that Aug-Sept is "bye bye time." What do you gain by trying to upset people? And if that's the case.....well hey it is better than July right...it buys a month. I am guessing you are an independently wealthy person who delights in having others worry about their jobs? If not then you would never "relish" in trying to upset others unless you just are very unhappy yourself.

CASH how much cash left will be reported come Thrusday - gots to be below 200 mill by now

didn't have anywhere close to the 500mill needed to pay off loan so...... Aug-Sep bye bye time

Here's a cookie for you corporate cheerleaders

Sad how negative everyone wants to be. They never try to look at positive but always feed off their own doom and gloom theories. There are a lot who have invested a lot in this company and want shld to turn things around. Drama and more drama is all they want....

He has as much time as the suppliers will give him, which is not looking like much given recent developments

The funny thing is that somehow those posting on here with the negative news think it is something new that hasn't been said before. I didn't say that it didn't mean in the future we wouldn't have issues, but I am glad he has bought some time. He has done exactly what he said he would as far as the loan goes. He didn't say he was going to pay it off. He said he was going to re structure it, and he has done that.

Stave off the payment until after bankruptcy.

All this does as mentioned is to buy time. If they are struggling to pay its debt what makes you think they can go long enough? The clock is ticking you can just buy as much time as you want and as mentioned a lot of Vendors will not like that which will most likely mean they will reduce what they are selling to Sears to be safe.

How is a company admitting they can't pay down debt a good thing? 500 million is a small amount relative to the total amount of debt this company needs to service in next year. With the accelerating rate of cash burn bankruptcy now a 100% certainty

What's funny is how two different people read the same article and each one takes a different idea or fact away from it.

That's the facts not the spin.

Funny...you can choose to find the negative in anything. That's the easy part.

Doesn't change funding obligations of pension plan, $400 million still owed. Now we just know they can't afford to pay off a $500 million loan they knew about well in advance. Don't see suppliers shipping for back half of 2017 now that they know Eddie will stiff them.

This is actually a positive thing....it buys some time.