[Lazamataz]

Wow! I guess Rosie O'Donnel is radioactive from now on. No one will touch her. The boycott plus other mismanagement mistakes brought the Blue Light Special to its knees.

[modern_orthodox]

one too many blue light specials?

[Dog Gone]

How long before somebody asks if K-Mart executives were selling their shares while employees held onto their's?

[truthkeeper]

I just heard the same report. The commentators on CNBC are saying KMart is partially blaming the problem on being unable to get "surety bonds," and one added, "This goes back to Enron."
I have no idea what this means, since I am an economic dunce. Maybe some nice smart person will explain it to me.

[Illbay]

Am I not correct that Chapter 11 allows the Corporation to reorganize and continue in business?

And also, that this bankruptcy absolutely DWARFS Enron?

[RedBloodedAmerican]

Amazing. The Great Walmart of China eats another one.

[Senator Pardek]

"Pink Sheet Special!"

[RedBloodedAmerican]

Sorry to hear it. Hope you find work soon.

[RCW2001]

Press Release

SOURCE: Kmart Corporation

Kmart Secures $2 Billion Financing Package and Files for Chapter 11 Reorganization to Aggressively Address Financial and Operational Challenges

All 2,114 Kmart Stores Open for Business; Credit Cards, Gift Certificates, Store Credits To Be Honored As Usual

$2 Billion DIP Financing Package Arranged by JPMorgan Securities, Inc. and Fleet Securities, Inc.; Includes Vendor Lien for Customary Trade Relationship Vendors; Will Fund Operations, Including Employee Salaries and Benefits, and Post-Petition Vendor Payments During Reorganization Process

Completion of Fast-Track Reorganization Targeted for 2003

"We are determined to complete our reorganization as quickly and smoothly as possible, while taking full advantage of this chance to make a fresh start and reposition Kmart for the future," says Kmart CEO Conaway

TROY, Mich., Jan. 22 /PRNewswire-FirstCall/ -- Kmart Corporation (NYSE: KM - news) announced today that, in order to aggressively address the financial and operational challenges that have hampered its performance, the Company and 37 of its U.S. subsidiaries have filed voluntary petitions for reorganization under chapter 11 of the U.S. Bankruptcy Code. In its filings in the U.S. Bankruptcy Court for the Northern District of Illinois, in Chicago, the Company indicated that it will reorganize on a fast- track basis and has targeted emergence from chapter 11 in 2003.

[SarahW]

I can't go on!!

[Non-Sequitur]

Somehow, some way, this has to be President Bush's fault, too. Let's crank up another 100 congressional investigations and get to the bottom of it.

[Clemenza]

Attention Kmart shoppers: There is a blue light contract on Chuck Conaway!

[PRO 1]

IT SERVES THE 'ROSIE O DUMBELL' STORE RIGHT.

Maybe the suckup PC execs will wake up a little.

[RedBloodedAmerican]

Why didn't the DOJ break up WalMart years ago? ;)

[Rebelbase]

When are Bush and Cheney going to be questioned about this? After all, K-Mart is a very large corporation and there just *has* to be a connection.

[marshmallow]

The general delight which greets this event, simply because Rosie O'Donnell is/was on the payroll, amazes me.

Two big companies like K-Mart and Enron going down the gurgler, in quick succession, is bad news for the American economy. Not to mention the hardship this means for those who are now without a job and the ripple effects which will be felt by many smaller businesses.

This is like celebrating a nuclear srike on New York, simply because Hillary Clinton happened to be among the dead.

[MeekOneGOP]

Guess their "Blue Light" special is now a Red Light?

http://www.drudgereport.com/siren1.gif

[sargon]

I wonder if KMart's betrayal of American gun owners had anything to do with this? I know that many began a boycott KMart after Rosie's tirade(s) and after they caved with respect to their gun/ammo sales.

I can't recall which exact policy they changed in their Sporting Goods department, but it angered gun owners, I know that much...

[Ward Smythe]

As a kid I remember what a treat it was to go to the Kresge store in downtown Bluefield, WV. We'd shop in the city then have lunch at the Kresge counter.

While I have to admit I rarely shop K-Mart, I would hate to see them go. It's a shame that the business started by the same man who started the Kresge Foundation has fallen on such hard times.

The Kresge Foundation has done a lot of good, and has contributed a lot of money to Christian causes, including a lot of college campus buildings. (My alma mater included).

[b4its2late]

Good job Rosie!