[True Capitalist]

I think it's time for a Congressional investigation of the Kmart collapse!!!

Kmart sold junk...the corporate executives knew they were selling junk yet they acted recklessly in continuing to sell junk in total disregard of their employees well being (BTW Kmart has 300,000 employees; Enron had only 19,000). The true victims of this ponzai scheme, of course, are the low-income individuals who were confused into buying the junk while the company was going down!

Somebody call Joe LIEberman!

[Phantom Lord]

They boycotts of Kmart clearly had an impact on them, but how much is not known. What is known is that Kmart facilities were low rent, poorly maintained, and the shelving of items was regularly in disaray.

Their instore employees were rude, showed no interest in their job or helping the customer, and when asked questions never had an answer. Not to mention that they regularly only had 2 cash out lines open and 20 closed and those working the registers had were more interested in talking to the cashier next to them about the party last night, their new nails, their new dye job, or what they were gonna do tonight than they were in getting the customer rang up and out in a timely matter.

Their service level sucked and people voted with their wallets for Walmart and Target.

[Oldeconomybuyer]

If K-Mart closes all their stores where will democrats go to beat their kids?

[TC Rider]

I wonder if anyone in the lamestream media will connect the dots on this. I know I quit shopping there when Rosie started showing her @ss. I know even more quit when kmart pulled ammo from their stores.

I'm sure they'll agree that conservative shopping habits had nothing to do with their demise. Just like the Disney boycotts have nothing to do with their declining fortunes.

[harpo11]

Ok when will the intrepid leader of the Democrats Sen. Tom Daschle start the investigations?

How many little people investors have been hurt by K-Mart?

How come Tom Daschle didn't warn the American people of K-Mart tanking?

Where is Tom Daschle's concern and disappointment for the unfortunate K-Mart employees and their families?

[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.

[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

[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.

[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!

[Right_in_Virginia]

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

[PatrioticAmerican]

Let the Rosie lovers go under.

[Bush2000]

There was a guy on Fox's Cavuto last night predicting that KMart wouldn't file Chapter 11. He also offered several hot stock picks (most of which I believe will tank). Think he'll get invited back anytime soon? ;-)

[doctor noe]

Does this mean the Klan will start buying their white sheets at WalMart from now on?

[Judge Who]

Enron- the largest bankruptcy in history

KMart- the largest retail bankruptcy in history

Watch for news about Halliburton to explode tomorrow.

[multitaskmom]

Kmart files for Chapter 11, stores to remain open

Source: Jacksonville Business Journal, author Beth Miller

Citing the loss of supplier confidence, intense competition in the discount retail market, unsuccessful marketing efforts and the recession, Troy, Mich.-based Kmart Corp. (NYSE: KM) has filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code, breaking a week-long silence about the company's financial status and future.

The company says it plans to reorganize on a fast-track basis and emerge from Chapter 11 next year.

Kmart has eleven stores in Northeast Florida.

The company says all of its 2,114 stores will remain open and its credit cards, checks, gift certificates and store credits will be honored as usual. It also says its employees are being paid and benefits are expected to continue.

The retailer has secured $2 billion debtor-in-possession financing from Credit Suisse First Boston, Fleet Retail Finance Inc., General Electric Capital Corp. and JPMorgan Chase Bank. Kmart says it expects to be able to access $1.15 billion of the debtor-in-possession financing upon court approval of an interim financing order.

Kmart has named Ronald Hutchison executive vice president and chief restructuring officer effective immediately. Hutchison was most recently chief financial officer of Advantica Restaurant Group, the same company for which Kmart's new chairman, James Adamson, had previously been chairman, president and chief executive.

On Monday, Dallas-based Fleming Co. (NYSE: FLM) said it had stopped all shipments of food and other items to Kmart stores because Kmart did not make its regular weekly payment. In addition, Fleming submitted a notice of reclamation to Kmart with a notice of failure to pay. In addition, lawn and garden products manufacturer Scotts Co. (NYSE: SMG) has postponed shipments until Kmart explains its strategy for financial recovery or files Chapter 11.

Also on Monday, Moody's Investors Service downgraded the long-term ratings of Kmart to Caa3 and left the ratings on review for further possible downgrade, the fourth cut in a month.

Kmart reported a net loss in fiscal year 2001 of $244 million on sales of about $40 billion. The company has about 252,000 employees.
11:03 EST Tuesday

[wny]

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

What!!! And Bush did nothing to help the poor stockholders?!!What about the poor employees with 401k losses??!!