The Trump Economy Super Fun Time Happy Thread

lajikal

Registered User
Ford Prepares for Mass Layoffs After Losing $1 Billion to Trump's Trade Tariffs, Report Says
October 9, 2018

Ford is having a bad year in 2018. Its stock is down 29%, and the tariffs imposed by President Trump have reportedly cost the company $1 billion, as the company is in the midst of a reorganization. Now, the company is announcing layoffs.

Jim Hackett, Ford’s CEO, is working to engineer a $25.5 billion restructuring of the automaker, hoping to cut costs and remain competitive, the Wall Street Journal reports. But auto sales are down, and one reason is the trade tariffs that Trump has imposed on metals and other goods. According to Bloomberg, Hackett has said they have already cost the company $1 billion in profit and could do “more damage” if the disputes aren’t resolved quickly.
 

5skin

Registered User
Ford Prepares for Mass Layoffs After Losing $1 Billion to Trump's Trade Tariffs, Report Says
October 9, 2018

Ford is having a bad year in 2018. Its stock is down 29%, and the tariffs imposed by President Trump have reportedly cost the company $1 billion, as the company is in the midst of a reorganization. Now, the company is announcing layoffs.

Jim Hackett, Ford’s CEO, is working to engineer a $25.5 billion restructuring of the automaker, hoping to cut costs and remain competitive, the Wall Street Journal reports. But auto sales are down, and one reason is the trade tariffs that Trump has imposed on metals and other goods. According to Bloomberg, Hackett has said they have already cost the company $1 billion in profit and could do “more damage” if the disputes aren’t resolved quickly.
Lol!
Globally, not nationally.
It's almost as if those tariffs are working out perfectly.

Your independent thoughts on these little tidbits of facts laji? And go!
 

lajikal

Registered User
Sears may file for bankruptcy as debt payment looms, reports say
USA TODAY
Oct. 10, 2018

Sears, once America's most famous retailer, continues to fail

Sears Holdings is teetering on the edge of bankruptcy.

The retailer faces a daunting $134 million debt payment due Monday that looms increasingly large since the company has so far failed to work out a deal with CEO and largest shareholder Eddie Lampert to restructure its debts and sell more assets.

With heavy losses mounting, it may not have enough to make that payment on time.

Now, the company is working with advisers to prepare a potential bankruptcy filing as early as this week, according to the Wall Street Journal and CNBC.
 
Sears may file for bankruptcy as debt payment looms, reports say
USA TODAY
Oct. 10, 2018

Sears, once America's most famous retailer, continues to fail

Sears Holdings is teetering on the edge of bankruptcy.

The retailer faces a daunting $134 million debt payment due Monday that looms increasingly large since the company has so far failed to work out a deal with CEO and largest shareholder Eddie Lampert to restructure its debts and sell more assets.

With heavy losses mounting, it may not have enough to make that payment on time.

Now, the company is working with advisers to prepare a potential bankruptcy filing as early as this week, according to the Wall Street Journal and CNBC.
Welcome to 2008
 

THE FEZ MAN

as a matter of fact i dont have 5$
Sears may file for bankruptcy as debt payment looms, reports say
USA TODAY
Oct. 10, 2018

Sears, once America's most famous retailer, continues to fail

Sears Holdings is teetering on the edge of bankruptcy.

The retailer faces a daunting $134 million debt payment due Monday that looms increasingly large since the company has so far failed to work out a deal with CEO and largest shareholder Eddie Lampert to restructure its debts and sell more assets.

With heavy losses mounting, it may not have enough to make that payment on time.

Now, the company is working with advisers to prepare a potential bankruptcy filing as early as this week, according to the Wall Street Journal and CNBC.

When was the last time you set foot in a sears store?
 

THE FEZ MAN

as a matter of fact i dont have 5$
They carry fat guy work pants and the occasional tool I need
 

MurphCO

Enough of this palaver
Donator
I bought the Fridge and Microwave for the new office I opened last year from Sears......mostly because it was 2 blocks away and they were cutting prices significantly.....also bought the Keurig there
 

ysr50

Well-Known Member
Donator
I bought the Fridge and Microwave for the new office I opened last year from Sears......mostly because it was 2 blocks away and they were cutting prices significantly.....also bought the Keurig there
Keurig is always a good idea. I hate the stink of afternoon coffee.
 

lajikal

Registered User
Sears files for bankruptcy
  • Sears, once the largest U.S. retailer, has filed for bankruptcy.
  • The U.S. retailer had a $134 million payment coming due.
  • Sears' CEO Eddie Lampert had kept the company alive by selling off parts of its business.
CNBC.com



Gregory Bull | AP

In this Nov. 17, 2004 file photo, Kmart chairman Edward Lampert listens during a news conference to announce the merger of Kmart and Sears in New York.


After years of Sears Holdings staying afloat through financial maneuvering and relying on billions of CEO Eddie Lampert's own money, the 125-year-old retailer filed for bankruptcy.
The filing comes more than a decade after Lampert merged Sears and Kmart, hoping that forging together the two struggling discounters would create a more formidable competitor.

It comes after Lampert shed assets and spun out real estate, all to pay down the debt the retailer accumulated when that plan went askew. The company still has roughly 700 stores, which have at times been barren, unstocked by vendors who have lost their trust. Many of the stores have never been visited by a generation of shoppers that can barely recall it was once the the country's biggest retailer.

Lampert, who has a controlling ownership stake in Sears, personally holds some 31 percent of the retailer's shares outstanding, according to FactSet. His hedge fund ESL Investments owns about 19 percent.
 

lajikal

Registered User
Sears Holdings plans to file for bankruptcy protection after midnight in the East Coast, culminating the collapse of what was once America's largest retailer, people familiar with the situation tell CNBC.

As part of the bankruptcy plan, Sears will immediately close roughly 150 of its stores, people familiar with the matter have said. It has approximately 700 stores, one of the people said.

It is unclear how the closures would impact Sears' workers, which totaled roughly 90,000 in February 2018.

Sears will aim to stay in operations through the holidays, during which it will seek a buyer. That buyer could include its CEO, Eddie Lampert, or others that wish to make a higher bid.

The retailer has secured roughly $500 million to support its holiday operations, the people said. As of Sunday evening, negotiations were ongoing, two of the people said.

The people, who requested anonymity because the information is confidential, cautioned no plan is definite until the retailer formally submits its bankruptcy paperwork. Sears did not immediately respond to comment.

Sears has a $134 million debt payment due Monday it will not meet.
 

ruckstande

Posts mostly from the shitter.
Donator
It's sad to see Sears go out like this. Especially since they were such a powerhouse not all that long ago and just couldn't figure it out anymore. What other brands does Sears even own any longer?
 

ruckstande

Posts mostly from the shitter.
Donator
@JackPosobiec: Trump should pay Elizabeth Warren 1/1024th of a million dollars as that's what her test results said
 

THE FEZ MAN

as a matter of fact i dont have 5$
Sucks that Sears is going bankrupt, but that's more because of Jeff Bezos than Donald Trump.
It is shocking because sears was the “amazon” if you needed it or wanted it you bought it from sears. One of the things that got them into trouble was that they started dabbling in the savings and loan / credit debacle of the mid 90’s, they bought into several credit card companies who ended up going belly up sticking sears with the bill forcing them to liquidate many of their assets (my mom worked for sears for 20 years, most of that during that time period 1986-2006) when the “dot com boom” was making millions over night, sears was still clinging on to the brick and mortar business model, I think even still printing catalogs long after they should have.
It really is a shame to me, but, they did it to themselves, trump has nothing to do with it.
 

Bobobie

Registered User
I've not stepped inside one of those in five years. Whenever I need something I usually grab my Kindle Fire and order it on Amazon. It's in my mail-box in 1-2 days.
 

the Streif

¡¡¡¡sıʞunɹɹɹɹɹɹɹℲ
Donator
I was in a Sears a few months ago when I needed a few new lining pins for work. Lowe’s carries Craftsman tools now but they don’t have the selection that Sears does/did. When I went in to get the lining pins the shelves were pretty bare. I’m hoping that Lowe’s starts carrying more of the individual hand tools and not just the prepackaged sets.
 

tattered

Uber-Aryan
Wackbag Staff
It is shocking because sears was the “amazon” if you needed it or wanted it you bought it from sears. One of the things that got them into trouble was that they started dabbling in the savings and loan / credit debacle of the mid 90’s, they bought into several credit card companies who ended up going belly up sticking sears with the bill forcing them to liquidate many of their assets (my mom worked for sears for 20 years, most of that during that time period 1986-2006) when the “dot com boom” was making millions over night, sears was still clinging on to the brick and mortar business model, I think even still printing catalogs long after they should have.
It really is a shame to me, but, they did it to themselves, trump has nothing to do with it.
I remember as a kid getting so excited when the sears Christmas catalogue would come in
 

THE FEZ MAN

as a matter of fact i dont have 5$
I was in a Sears a few months ago when I needed a few new lining pins for work. Lowe’s carries Craftsman tools now but they don’t have the selection that Sears does/did. When I went in to get the lining pins the shelves were pretty bare. I’m hoping that Lowe’s starts carrying more of the individual hand tools and not just the prepackaged sets.
Interesting side note to this, all the years people who criticized me for buying snap on tools because “craftsman is just as good” yea well, snap on is still in business...
 

Sinn Fein

Infidel and White Interloper
Wackbag Staff
When I moved down here in late 2012, I spent quite a bit of time exploring the area the first couple months. Over in the next town, I spotted a property for sale that had obviously been an 84 Lumber location in the past.

The distinctive shape of the building along with the color scheme gave it away. Even though it was covered by a tarp, I could make out the big round "84" sign. My Google-fu tells me that it's been closed since 2011.

On my way home from work a couple weeks ago, I noticed that the big FOR SALE signs that have been there for the past six years were now gone there were vehicles on the property. So, I figured I'd shortly find out what was happening there.

Today I was passing through that area and to my surprise, they are re-opening the location as an 84 Lumber once again. The Trump economy is booming, and there is lots of new construction in the area - houses getting built along with commercial buildings.

#MAGA
 
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