Mega-merger....

[Dr Mordrid]

K-Mart buys Sears for $11 billion;

http://apnews.myway.com/article/20041117/D86DL90O0.html

Sheeessshhhhh......

K-Mart not only gets the big Sears mall stores but also the widespread Sears Hardware stores; the 2nd home of a large percentage of US males because of their Craftsman tool and home machinery lines.

If I totaled up the value of all the Craftsman tools and machinery I own it could pay for a new car

Dr. Mordrid

[GNEP]

But two dogs maketh not a cat...

[Dilitante1]

....but 3 rights make a left

[GT98]

Didn't Kmart almost go out of Business a couple years ago? I would have thought that Sears would have taken them over.

[Brian Ellis]

Then Walmart will buy the lot out!

[Dr Mordrid]

K-Mart went into bankruptcy a couple of years ago, but in Federal corporate bankrupcies there are two types of bankruptcy: chapter 7 and chapter 11.

In chapter 11 the companys debts are reorganized and it is exit bankruptcy in better shape than when you went in.

In chapter 7 the company is typically liquidated.

K-Mart was able to exit chapter 11 and shed a lot of its underperforming stores. Since then their results have improved so much that their stock has gone from $15 a share to over $101 a share just before the merger. Sears went up post merger from about $45 to $55.

Both showed impressive gains in their stocks after the merger was announced. This merger makes the combined company the #3 sized retailer in the US behind Walmart and Home Depot (a home improvement store). Target falls to #4.

Dr. Mordrid

[Jammrock]

Sears has been getting a lot of really positive advertising with the "Extreme Makeover: Home Edition". This is probably a really smart move on Kmart and Sears' part. The mother company of Sears has been trying to dump the stores for a while and concentrate on it's financial network.

[Lizzard[MPE]]

very interesting. i two had also thought kmart had went under.

Martha Stewart.. is her products still sold there or have they dropped her?

[Dr Mordrid]

All the Martha Stewart lines are still being sold and marketed. From what I hear they're still selling.

Once Martha's out of jail and does the Oprah/Dr. Phil etc. "poor little me" circuit her product lines will probably be bigger than ever before

Dr. Mordrid

[Lizzard[MPE]]

damn martha stewart. damn her all to hellllll...

actually if it wasnt for martha stewart i would have been sleeping on the floor at dans apartment. as would jesse now as well.

just for that.. thanks martha for making a great foam pad to put on the floor!

[KvHagedorn]

I actually like Martha Stewart. She was one of a very few bright spots of civilization in our lowbrow world.

[Jon P. Inghram]

Shop smart, shop S-Mart.

[Jon P. Inghram]

Originally posted by KvHagedorn
I actually like Martha Stewart. She was one of a very few bright spots of civilization in our lowbrow world.

Err... this is a joke right?

[KvHagedorn]

Originally posted by Jon P. Inghram
Shop smart, shop S-Mart.

Great idea! This new megacorp will just steal it, make lots of money using it, and leave you with nothing.

[KvHagedorn]

Originally posted by Jon P. Inghram
Err... this is a joke right?

uhm.. no.

Her crime was pretty petty. Sports "heroes" murder, rape, and do/sell heavy drugs with impunity. Shows what a ****ed up world this is when she gets prison and they go free.