Kmart Misery Grows

New York Post ^ | January 21, 2002 | Christopher Byron

[Timesink]

January 21, 2002 -- WE'VE all heard a lot lately about the impending bankruptcy reorgani zation of Kmart. The company's stock has collapsed, its bonds have collapsed, and now the century-old discount retailing chain itself may be facing collapse.

But any such reorganization seems unlikely to do more than postpone the day of reckoning for a while longer - and maybe not a whole lot longer at that. Sooner or later, this company is going to close its doors and go out of business.

[Timesink]

We ought to start a betting pool on which day they file, and whether it's for Chapter 11 or Chapter 7.

[xm177e2]

The kick-butt brass at Wal-Mart averages $170,000 of revenue out of each of their employees

Do you mean if I go to work at Wal Mart, I could earn $170,000 a year? </sarcasm>

[doosee]

Retail Brick and Mortar is so horrendously overbuilt in this country (US) that Kmart may be the tip of the iceberg. How can Kmart make money when factory outlet stores are reachable on any Saturday by nearly anyone? Walmart has optimized the supply chain. Over 70% of the goods in a Walmart are not paid for by Walmart until you walk out the door. No inventory carrying costs, no capital invested. That is the winning model. Goodbye bluelight specials.

[Wingy]

It's not Martha Stewart that brought K-Mart to her knees, but the the abject stupidity of sponsoring Rosie O'Donald. The first day they announced her as a spokesperson was the last day I shopped at K-Mart. Since then, I've driven four miles out of my way to patronize Wal-mart. Now I have some problems with Sam's place but they don't try to undermine the Constitution by supporting dimwits like Rosie. I don't think that I'm alone in this sentiment, and I will take no small measure of satisfaction when the doors close, for I will know that I did my part.

[VOA]

Wal-Mart has looked at urban markets like these - particularly in the Northeast -
where rental and labor costs are higher, and decided to Hell with that.

I've figured that's why we don't have even one Wal-Mart in the Westside area of
Los Angeles/Santa Monica.
Target tried to put a store in a prime location of Santa Monica a couple years ago...
and got slapped down by the no-growth socialists of the Santa Monica city council.
(I still think it was pretty amazing they did let a "Hooters" restaurant open,
but I suppose it may appeal to the lesbian constituency on the city council!)

[Waco]

A little more dumbass anti-gun postureing oughta put the lid on their box for good. Then they can hire some master financial genius guru type to tell em where they forked-up. (For a sizeable fee, but of course.)

[bimbo]

K-Mart deserves all the downside they earned with the promotion of anti-gun Rosie O'Donnell and the PC firing of Fuzzy Zoeller. Any company that has social agendas interfering with the conduct of business deserves such a well-earned fate. No tears for K-Mart here.

[Galtoid]

K Marts don't help themselves with such scuzzy, dirty, unorganized stores. They are trying to emulate WalMart,Target, and other chains, and in the process, lost their individuality and/or identity. Also, the liberal who runs the joint didn't help by interjecting his political views into the mix. Typical of libs, they just never do understand business.

[stainlessbanner]

the century-old discount retailing chain itself may be facing collapse

that's why it's called "Kame-Apart"

[Dog Gone]

Typical of libs, they just never do understand business.

Ford Motor Company is now run by a utopian liberal, William Clay Ford, and since his arrival the company has started to bleed billions of dollars.

Coincidence? I think not.

[LibKill]

I for one would not buy a toilet plunger from K-Mart, even if my toilet was stopped up and I had to drive 50 miles to get to another store.

Let them reap the 'benefits' of their anti-gun stance.

[barker]

If you don't like K-Mart don't shop there.

K-Mart fired Rosie, hired the Judds, featured them in an ad that showed them skeet-shooting, asked suppliers to find sources for merchndise other than China after the plane flap. Had a knee-jerk reaction for a short time after 9-11 and stopped selling guns but do so now.

They have about 2,200 stores nation wide. I work at a K-Mart several times a week as a merchandiser. If K-Mart goes down my company will have to do a lot of down sizing so you're not talking about just K-Mart.

It's considered terrible that Enron employees are losing their jobs but many people here are gloating because thousands of K-Mart employees may be out of work. If you don't like K-Mart don't shop there but don't wish these people out of their jobs.

Flame away, but I have to get to work, while I still have a job.

[pfflier]

Because Wal-Mart is so much bigger than Kmart, it buys from suppliers in greater quantities at cheaper prices.

My experiences with K-Mart is that they sell low end stuff too. They sacrificed quality to get the prices down.

[TightSqueeze]

IF you want to know why there is not a single Wal-Mart store within 25 miles of Rockefeller Center, while there are two Kmarts right on Manhattan Island and two more directly across the Hudson River in New Jersey, it's because Wal-Mart has looked at urban markets like these - particularly in the Northeast - where rental and labor costs are higher, and decided to Hell with that.

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capw039

The statement is true but don't off go half-cocked thinking New Yorkers are unable to shop at Walmart, and don't think for a minute they wouldn't want to be closer!

[biblewonk]

I knew they'd never survive my silent boycott. I started the dreaded silent boycott when I learned that they no longer sold ammo.

[Bartholomew Roberts]

Ford Motor Company is now run by a utopian liberal, William Clay Ford, and since his arrival the company has started to bleed billions of dollars.

Coincidence? I think not.

Maybe you'd better pick on Jac Nasser for making the company lose billions because he's Arab and trying to destroy the American economy. That makes as much sense as your tripe.

You really don't know what you are talking about.

Ford is losing (and has been for a year and a half) because Nasser spent $3 billion on internet businesses such as Greenleaf LLC; on car repair shops in Europe; Hertz; and a lot of other non-core businesses.

All this at the same time car sales were dipping (from 4.6 million units to 4.1 in a year) as a legacy of the economy of Clinton Administration.

Bill Ford Jr. took over the legacy of Nasser and is turning things around, though slowly.

Better get your facts in order before you spew.

[Ditter]

I don't care one way or the other about K-mart but I would love to see Martha Stewart go under. That woman just p*sses me off.

[usconservative]

Remember: This is the same KMart that had gun-grabber Rosie O'Donnel for their "spokesMAN".

KMart IMO, is getting what they deserve. They turned against the Constitution long ago. The KMart by me stopped selling shotguns and ammo while Rosie was their "spokesMAN".

Good riddance, KMart.

[aculeus]

Retail Brick and Mortar is so horrendously overbuilt in this country (US) that Kmart may be the tip of the iceberg.

Right you are and we'll have a slew of empty 'big box' stores in just a few years. More blight!

[Dog Gone]

Oh, I think have my facts straight. Wall Street is voting on the job your hero is doing at Ford.