KMART Files Chapter 11 Bankruptcy

CNBC Breaking Live

[RCW2001]

KMART Corp. Files Chapter 11 Bankruptcy...breaking live on CNBC.

Will post wirecopy as it becomes available.

[RayChuang88]

A better question - How come Walmart and Tyson Foods, both run by huge FOB's - managed to squeeze out or buy out their competition in the Clinton years?

You have got to be kidding.

If you've read the late Sam Walton's own autobiography, he only mentioned Bill Clinton a grand total of one time. I think Walton never really liked Bill and Hillary, and was very likely much more friendly to the Bush family.

Besides, the inability of Kmart to compete against Wal-Mart, Target and the membership warehouse stores plus Rosie O'Donnell's meddling in the company resulted in many customers leaving Kmart and going to the other stores I mentioned.

[taxbreak]

I survived Enrons Broadband sales, and the "BlueLight" free internet service. I always wondered why and how these companies found themselves in a situation to give away free services and products when as a "sole proprieter" (actually a corp where I could have done same) when I "would not."

Yes this is a scandal, they should have known better. Its "fancy" embezzlement.

[1 FELLOW FREEPER]

Well, evidently rivers are not important to Muslims, as Tyson has completely polluted 2 under Clinton's watch...they paid him well too to look the other way.....welcome to Chicken Blood River!!

[RedBloodedAmerican]

Chickens don't contain arsenic ;)

[kidd]

Presented by the Federal Election Commission

Individual Contributions Arranged By Type, Giver, Then Recipient

Non-Federal Receipts "Exempt From Limits"

KMART CORP,
TROY, MI 48084

1998 REP H/S DINNER TRUST NON-FED
04/17/1998 35000.00
08/07/1998 35000.00

1999 REP S/H DINNER NON-FED TRUST
06/10/1999 20000.00

NRSC - NONFEDERAL
06/25/1999 25000.00
09/29/1999 20000.00
09/26/2000 25000.00

RNC-REPUBLICAN GOVERNORS ASSOCIATION CONFERENCE
11/16/1999 425.00

KMART CORPORATION,
TROY, MI 48084

1997 REP S/H DINNER TRUST & INDIVIDUALS (NON-FEDERAL)
06/03/1997 20000.00

2000 REP H/S DINNER NON FED TRUST
05/19/2000 100000.00

2001 PRESIDENT'S DINNER - NON-FEDERAL TRUST
06/05/2001 25000.00
06/27/2001 25000.00

ASHCROFT VIC CMTE/NONFEDERAL ACCOUNT
12/31/1999 7500.00
03/31/2000 7500.00

DCCCC NON-FEDERAL ACCOUNT #1
12/31/1999 25000.00
06/22/2000 15000.00
08/04/2000 10000.00

DCCCE NON-FEDERAL ACCOUNT #1
04/30/1999 7500.00

DNC-NONFEDERAL-CORPORATE
10/22/1998 8000.00

DSCC NON-FEDERAL CORPORATE
04/22/1999 7500.00
06/30/2000 15000.00
06/12/2001 15000.00

NRCCC - NON FEDERAL #1
03/18/1999 25000.00
04/26/1999 2500.00
05/24/1999 25000.00
03/15/2000 3000.00
03/31/2000 50000.00
03/23/2001 50000.00

NRCCE-NON FED
05/08/2000 647.00

RNC REPUBLICAN NATIONAL STATE ELECTIONS COMMITTEE
01/24/1997 5000.00
07/31/1997 25000.00
02/27/1998 500.00
02/27/1998 4500.00
10/08/1998 1000.00
10/22/1998 8000.00
10/29/1998 25000.00
02/26/1999 25000.00
06/25/1999 1000.00
06/30/1999 25000.00
08/19/1999 15000.00
10/19/1999 20000.00
01/11/2000 4000.00
02/22/2000 40000.00
03/21/2000 275.00
03/21/2000 5000.00
08/18/2000 650.00
10/13/2000 25000.00
12/07/2000 565.00
01/25/2001 5000.00
02/22/2001 40000.00
10/26/2001 15000.00

Since 1997: $103,000 soft money to Democrats
Since 1997: $792,062 soft money to Republicans

[1 FELLOW FREEPER]

All of my friends bought their ammo at Kmart.We obviously bought other items when we shopped, too. IT MADE ONE HELLUVA DIFFERENCE, NATIONALLY.

[malakhi]

I had some spare change from dividends sitting in my online brokerage account. I just picked up 100 shares of Kmart for $70.00. Current price/book is .15! It was trading in the $10-15 range as recently as October. I think their reorganization will be successful; they are too big to just fold entirely. And hey, if the stock goes up to $1.40/share, I've doubled my money! ;o)

[Catspaw]

I doubt that the executive who hired Rosie is able to sit down....

LOL! But I also heard a lot of Martha Stewart's wealth is tied up in KMart...if she went down, it'd be the perfect parfait.

[SUSSA]

We need to keep up the pressure. Remind people that Kmart stopped selling guns and ammunition while the nation was under attack. This amounted to a secondary attack on the American people by the Kmart Corp.

Let's push them out of business. Kmart is anti-civil rights and should be gone.

[jpsb]

I say good ridance to the k-marks of the world. The K-marks and Wallmarts put thousands and thousands of mom and pop stores out of business all over this country by selling cheap third world crap. Go to a discount store and try and find American made goods there. It's all made in China so screw them.

[RCW2001]

I played that 'game' with PanAm Airlines years ago...part of their 'reorganization plan' was to reissue their stock, hence leaving the pre-bk stock worthless.

Of course your only playing with $70.00 so have fun...

[Phantom Lord]

To big to fold? I am sure people said the same about Montgomery Wards and Service Merchandise. Just to name 2 recent ones.

[Phantom Lord]

The K-marks and Wallmarts put thousands and thousands of mom and pop stores out of business all over this country

It's called capitalism and the free market. You don't get as big as Wal-Mart without giving the consumer what they want.

[mikhailovich]

Walmart to K-mart:

"We sell guns."

[Walkin Man]

Heres one big FAT reason why kmart is filing Chap.11!

Hire a anti-US Constitution, lesbian gun-grabber for a spokesthing, go belly up!

[marshmallow]

The K-marks and Wallmarts put thousands and thousands of mom and pop stores out of business all over this country by selling cheap third world crap.

K-Mart put nobody out of business. They simply offered goods for sale at cheaper prices. Plus convenience. Everything under one roof.

Customers then voted with their feet.

If and when the buying public decides they no longer want $10 Chinese sneakers but would prefer to pay more for home made goods, then mom and pop stores will reappear.

My point is that your ire should be directed as much at the American public, as at K-mart.

[Right_in_Virginia]

Can you say: "Economic Stimulus Package"???

[PatrioticAmerican]

Let the Rosie lovers go under.

[1 FELLOW FREEPER]

""LOL! But I also heard a lot of Martha Stewart's wealth is tied up in KMart...if she went down, it'd be the perfect parfait.""

Martha Stewart is almost as big of a yuppie CON job as Bill Clinton.