Pratt Read Tools Bankruptcy Laws

Inspection: Tuesday, January 6, 2015 10AM to 3PM & 9AM sale day. Large Qty of Raw Diamonds in Forms of Compound, Knives, Files, Plates, Inserts, Cones, Tools, Tips, Dressers, Etc.

2007 Fanuc Robocut #A-OIC Type#: A04B-0315-B022#UV Machine #: P075C0504, 2-Axis Wire EDM Machining Center w/Fanuc #180-IS-WB Controller & Remote Trak Protrak #TRL1630SX Lathe w/54” Bed, 2-Axis, 3 Phase & Protrak #SLX Digital Controls Clausing Metosa #C1440 Lathe w/40” Bed, 14” Swing, w/DROII ML Digital 2-Axis Readout s/n: 22132 (2) Microspark #2000 MKI Laflet Diamond Tools Rotary EDM Machines w/Adj. Grinding Heads, Tables, Coolant, Lube, Digital Controls & Tooling 2013 Zoller Pombasic #PMBC-00053 Inspection System 100-240v w/PC & Software Pkg. 2011 DBox #Electrox 600 Group Laser Engraver 2010 Shop Fox #M1098 13” x 40” Lathe w/Collets, Carbon Inserts, 13” Bed, 18” Swing, 1.5” Bore, 2HP, 3-Phase w/Newall #DP700 Digital Controls Southbend #CLO187RB Lathe w/4.5’ Bed & Collets Comet 2-HP Milling Machine w/42” Table & Mitutoyo X-Y Controls Kufo #UFO-101H Portable Single Bag Dust Collector Bridgeport #52417 Milling Machine & (2) Asst. Terms: Cash, credit card, certified or bank letter guaranteeing check. 25% deposit on all purchases. 18% Buyer Premium with a 3% Discount for Onsite Bidding and an additional 3% Discount for Cash or Check Payments.

Additional Terms: All bills to be paid in full within 24 hours of the conclusion of the sale. Deposits and payments can be made by cash, credit card, certified check, personal or business checks. Please note, personal or business checks must have a bank letter of guarantee in order to be accepted. Full payment must be made within 24 hours of the conclusion of the sale. We have not tested any of the equipment. It has been made available for inspection for a full day and by appointment. All goods are being sold on an 'as-is, where-is' basis and making no guarantees or warranties as to the condition of any item.

From the application of four enforcement tools selected for. Factors such as state laws. Propositions are from Child Support Arrearages: A Legal.

Some items are marked for parts only and we have reflected that on your catalog. Buyers are strongly urged to inspect all items before bidding. All goods are sold 'as-is' and without recourse.

Auctioneer reserves the right to reject any and all bids. Sales tax will be charged and collected on all purchases unless the clerk is furnished with acceptable proof of exemption. All potential online buyers must register at www.bidspotter.com prior to the auction and may be required to provide additional information to satisfy auctioneer.

Paul Saperstein Company may, in its sole discretion, deny registration to any person or entity. Auctioneer reserves the right to withdraw any of the items advertised to be sold, to sell items not listed, to group two or more lots into one lot number or to subdivide one lot into two or more lot numbers.

Auctioneer reserves the right to offer all lot numbers in the entirety. No article shall be removed unless it is paid for in full. All articles purchased shall be removed within the time period made by the auctioneer during announcements prior to the sale. Each buyer is responsible for removing his/her items won at the auction. This means you should arrange for a shipper, hire your own help and bring your own handling equipment.

Auctioneer will not, in any event, be liable for non-removal of items by the purchaser. Winning bidders can request a printed paper invoice from the bookkeeper at the sale location during or after the sale.

At the conclusion of the sale, online bidders will be sent an electronic invoice to the email address provided during registration. Invoices can be faxed upon request. Detailed payment instructions for each sale are available in the terms section on the website and on the front page of your catalog.

Online bidders will be sent payment instructions via email along with their invoice. They will be responsible for same deposit requirements as onsite bidders. Auctioneer reserves the right to withdraw any of the items advertised to be sold, to sell items not listed, to group two or more lots into one lot number or to subdivide one lot into two or more lot numbers. Additionally, Auctioneer reserves the right to offer all lot numbers in the entirety. We have posted contact information for local shippers, but they are in no way affiliated with the Paul E. Saperstein Company.

Additionally, the buyer is liable for any damages caused during the inspection or removal process. No article shall be removed unless it is paid for in full. No items are to be removed during the auction sale unless otherwise permitted by a representative of the Paul E. Saperstein Company. All articles purchased shall be removed within the time period made by the auctioneer during announcements prior to the sale. Each buyer is responsible for removing his/her items won at the auction. This means you should arrange for a shipper, hire your own help and bring your own handling equipment.

Auctioneer will not, in any event, be liable for non-removal of items by the purchaser. If items are left at the auction site beyond the last day given for removal, the items shall be deemed as abandoned. Seller shall have no further obligation to the buyer for these abandoned items. Our catalogs are prepared for informational purposes only. We do not guarantee or warrantee any of the information provided to you. We strongly encourage all bidders to inspect items prior to the sale.

All potential online buyers must register at www.bidspotter.com prior to the auction and may be required to provide additional information to satisfy auctioneer. Paul Saperstein Company may, in its sole discretion, deny registration to any person or entity. In default of payment of bills in full within the time therein specified, the auctioneer in addition to all other remedies allowed by law, may retain all money received as deposit or otherwise, as liquidated damages. When failing to pay, buyer is in direct violation of the United States Bankruptcy Laws and is subject to Federal Prosecution. Lots not paid for and removed within the time allowed herein may be resold at public or private sale without further notice, and any deficiency, together with all expenses and charges of resale including legal fees, will be charged to the defaulting purchaser. BIDDING STARTS AT THE NOMINAL OPENING BID INDICATED BY THE AUCTIONEER FROM THE AUCTION BLOCK AND IS OPEN TO ALL REGISTERED AND APPROVED BIDDERS. AUCTIONEER SHALL HAVE THE RIGHT TO SET BID INCREMENTS, ACCEPT OR REJECT ANY AND ALL BIDS DURING THE PROCESS.

BY REGISTERING FOR THE AUCTION, YOU ACKNOWLEDGE HAVING READ, AGREED TO, AND ACCEPTED THESE TERMS & CONDITIONS, AS MAY BE UPDATED FROM TIME TO TIME PRIOR TO OR DURING THE AUCTION. YOU ARE ENTERING INTO A BINDING CONTRACT. THERE ARE NO REFUNDS OR BID CANCELLATIONS. THE REGISTERED BIDDER IS PERSONALLY RESPONSIBLE, LEGALLY AND FINANCIALLY FOR ALL AUCTION ITEMS BID UPON WHETHER REPRESENTING HIMSELF/HERSELF OR ACTING AS AN AGENT. ANY BID ACCEPTED ONLINE OR AT PUBLIC AUCTION IS A LEGAL AND BINDING CONTRACT TO PURCHASE. ANY BIDDER WHO FAILS TO CONSUMMATE A PURCHASE WILL BE BANNED FROM BIDDING AT ALL FUTURE SELLER AUCTION EVENTS AND MAY BE PURSUED FOR CIVIL AND/OR CRIMINAL VIOLATIONS. YOU ACKNOWLEDGE THAT ACCEPTANCE BY ELECTRONIC MEANS IS BINDING AND ENFORCEABLE PURSUANT TO THE ELECTRONIC SIGNATURES IN GLOBAL TRANSACTIONS ACT (“UETA”) AND APPLICABLE STATE LAWS.

Inspection: Tuesday, January 6, 2015 10AM to 3PM & 9AM sale day. Large Qty of Raw Diamonds in Forms of Compound, Knives, Files, Plates, Inserts, Cones, Tools, Tips, Dressers, Etc. 2007 Fanuc Robocut #A-OIC Type#: A04B-0315-B022#UV Machine #: P075C0504, 2-Axis Wire EDM Machining Center w/Fanuc #180-IS-WB Controller & Remote Trak Protrak #TRL1630SX Lathe w/54” Bed, 2-Axis, 3 Phase & Protrak #SLX Digital Controls Clausing Metosa #C1440 Lathe w/40” Bed, 14” Swing, w/DROII ML Digital 2-Axis Readout s/n: 22132 (2) Microspark #2000 MKI Laflet Diamond Tools Rotary EDM Machines w/Adj. Grinding Heads, Tables, Coolant, Lube, Digital Controls & Tooling 2013 Zoller Pombasic #PMBC-00053 Inspection System 100-240v w/PC & Software Pkg. 2011 DBox #Electrox 600 Group Laser Engraver 2010 Shop Fox #M1098 13” x 40” Lathe w/Collets, Carbon Inserts, 13” Bed, 18” Swing, 1.5” Bore, 2HP, 3-Phase w/Newall #DP700 Digital Controls Southbend #CLO187RB Lathe w/4.5’ Bed & Collets Comet 2-HP Milling Machine w/42” Table & Mitutoyo X-Y Controls Kufo #UFO-101H Portable Single Bag Dust Collector Bridgeport #52417 Milling Machine & (2) Asst. Terms: Cash, credit card, certified or bank letter guaranteeing check. 25% deposit on all purchases.

18% Buyer Premium with a 3% Discount for Onsite Bidding and an additional 3% Discount for Cash or Check Payments. Additional Terms: All bills to be paid in full within 24 hours of the conclusion of the sale. Deposits and payments can be made by cash, credit card, certified check, personal or business checks. Please note, personal or business checks must have a bank letter of guarantee in order to be accepted.

Full payment must be made within 24 hours of the conclusion of the sale. We have not tested any of the equipment. It has been made available for inspection for a full day and by appointment. All goods are being sold on an 'as-is, where-is' basis and making no guarantees or warranties as to the condition of any item. Some items are marked for parts only and we have reflected that on your catalog.

Buyers are strongly urged to inspect all items before bidding. All goods are sold 'as-is' and without recourse.

Auctioneer reserves the right to reject any and all bids. Sales tax will be charged and collected on all purchases unless the clerk is furnished with acceptable proof of exemption.

All potential online buyers must register at www.bidspotter.com prior to the auction and may be required to provide additional information to satisfy auctioneer. Paul Saperstein Company may, in its sole discretion, deny registration to any person or entity. Auctioneer reserves the right to withdraw any of the items advertised to be sold, to sell items not listed, to group two or more lots into one lot number or to subdivide one lot into two or more lot numbers. Auctioneer reserves the right to offer all lot numbers in the entirety. No article shall be removed unless it is paid for in full. All articles purchased shall be removed within the time period made by the auctioneer during announcements prior to the sale.

Each buyer is responsible for removing his/her items won at the auction. This means you should arrange for a shipper, hire your own help and bring your own handling equipment.

Auctioneer will not, in any event, be liable for non-removal of items by the purchaser. Winning bidders can request a printed paper invoice from the bookkeeper at the sale location during or after the sale. At the conclusion of the sale, online bidders will be sent an electronic invoice to the email address provided during registration. Invoices can be faxed upon request.

Detailed payment instructions for each sale are available in the terms section on the website and on the front page of your catalog. Online bidders will be sent payment instructions via email along with their invoice. They will be responsible for same deposit requirements as onsite bidders. Auctioneer reserves the right to withdraw any of the items advertised to be sold, to sell items not listed, to group two or more lots into one lot number or to subdivide one lot into two or more lot numbers. Additionally, Auctioneer reserves the right to offer all lot numbers in the entirety.

We have posted contact information for local shippers, but they are in no way affiliated with the Paul E. Saperstein Company. Additionally, the buyer is liable for any damages caused during the inspection or removal process. No article shall be removed unless it is paid for in full.

No items are to be removed during the auction sale unless otherwise permitted by a representative of the Paul E. Saperstein Company. All articles purchased shall be removed within the time period made by the auctioneer during announcements prior to the sale. Each buyer is responsible for removing his/her items won at the auction. This means you should arrange for a shipper, hire your own help and bring your own handling equipment. Auctioneer will not, in any event, be liable for non-removal of items by the purchaser. If items are left at the auction site beyond the last day given for removal, the items shall be deemed as abandoned.

Seller shall have no further obligation to the buyer for these abandoned items. Our catalogs are prepared for informational purposes only. We do not guarantee or warrantee any of the information provided to you. We strongly encourage all bidders to inspect items prior to the sale.

All potential online buyers must register at www.bidspotter.com prior to the auction and may be required to provide additional information to satisfy auctioneer. Paul Saperstein Company may, in its sole discretion, deny registration to any person or entity. In default of payment of bills in full within the time therein specified, the auctioneer in addition to all other remedies allowed by law, may retain all money received as deposit or otherwise, as liquidated damages. When failing to pay, buyer is in direct violation of the United States Bankruptcy Laws and is subject to Federal Prosecution. Lots not paid for and removed within the time allowed herein may be resold at public or private sale without further notice, and any deficiency, together with all expenses and charges of resale including legal fees, will be charged to the defaulting purchaser. BIDDING STARTS AT THE NOMINAL OPENING BID INDICATED BY THE AUCTIONEER FROM THE AUCTION BLOCK AND IS OPEN TO ALL REGISTERED AND APPROVED BIDDERS.

AUCTIONEER SHALL HAVE THE RIGHT TO SET BID INCREMENTS, ACCEPT OR REJECT ANY AND ALL BIDS DURING THE PROCESS. BY REGISTERING FOR THE AUCTION, YOU ACKNOWLEDGE HAVING READ, AGREED TO, AND ACCEPTED THESE TERMS & CONDITIONS, AS MAY BE UPDATED FROM TIME TO TIME PRIOR TO OR DURING THE AUCTION. YOU ARE ENTERING INTO A BINDING CONTRACT. THERE ARE NO REFUNDS OR BID CANCELLATIONS. THE REGISTERED BIDDER IS PERSONALLY RESPONSIBLE, LEGALLY AND FINANCIALLY FOR ALL AUCTION ITEMS BID UPON WHETHER REPRESENTING HIMSELF/HERSELF OR ACTING AS AN AGENT. ANY BID ACCEPTED ONLINE OR AT PUBLIC AUCTION IS A LEGAL AND BINDING CONTRACT TO PURCHASE. ANY BIDDER WHO FAILS TO CONSUMMATE A PURCHASE WILL BE BANNED FROM BIDDING AT ALL FUTURE SELLER AUCTION EVENTS AND MAY BE PURSUED FOR CIVIL AND/OR CRIMINAL VIOLATIONS.

YOU ACKNOWLEDGE THAT ACCEPTANCE BY ELECTRONIC MEANS IS BINDING AND ENFORCEABLE PURSUANT TO THE ELECTRONIC SIGNATURES IN GLOBAL TRANSACTIONS ACT (“UETA”) AND APPLICABLE STATE LAWS.

Advertisement Long Nose Pliers utilize a high leverage joint providing users with 14 times more cutting force requiring 17% less effort. Arc Joint Pliers can be adjusted to 5 different positions and provides user with 4 times more gripping force, perfect for gripping everything from large items like pipes, right down to small nuts and bolts. Diagonal Pliers have induction hardened cutting edges which provide 16 times greater cutting force to ensure strength and durability for the toughest of jobs.

14 times more cutting effort requiring 17% less effort? Compared to what? Diagonal pliers that provide 16 times greater cutting force?

*facepalm* I never posted about those pliers. What could I say? Back in May, Ryan send me a message on Facebook (thanks!!), telling me that Craftsman’s USA-made Western Forge pliers were cancelled and all on clearance, as they were being replaced with made-in-China pliers.

I checked the website, and indeed, all of the Western Forge-made pliers were at clearance prices. Last week, that Sears was suing Western Forge. Apparently they settled and had a new contract dispute, with Western Forge.

The complaint says that Sears informed Ideal Industries, Western Forge’s parent company, that they wanted to extend their Craftsman hand tool contract for another year. Ideal and Western Forge were reportedly contracted to provide a 6-month transition period following any contract termination. It is said that Ideal waited until April 28th, 2017 to inform Sears that it would not extend their contract, and that Ideal refused to fulfill any existing purchase orders. I don’t have any communication contacts at Ideal or Western Forge, and haven’t contacted Sears for their side in the matter. I just want to talk about what I noticed.

Sears listed new Craftsman pliers, presumably made by Apex Tool Group, back in March of 2017. I saw those new pliers as “the beginning of the end” for the USA-made pliers Western Forge had made for the Sears Craftsman brand. When I checked Sears’ site today, there were very many new pliers SKUs, all I assume being made in China, or at least overseas.

Shown here is a “family photo” which I’m guessing includes all of the new pliers. Sears definitely had some of these new Craftsman pliers listed on their website as early as March 2017.

There were a few set options. So is this new expansive line of imported pliers in response to the contract dispute with Western Forge, or did Western Forge know something and refuse to have any further dealings with Sears? As mentioned, I saw the writing on the wall when I saw the new Sears Craftsman pliers design. Sears’ transition from USA-made Craftsman tools to imported ones has not been an abrupt one. I remember someone mentioning nervousness on the part of one of Craftsman’s USA tool suppliers – fear that Sears would suddenly source certain tools overseas from a different company and heavily disrupt the USA OEM’s operations and cash flow.

As an aside, to Sears Craftsman’s credit, they came out with new USA-made pry bars last Fall. I don’t want to automatically take the side of Western Forge. But it’s hard for me to see Sears as the victim or hurt party here., or at least their USA operations. It was never completely clear what was happening. Someone recently commented to that post, saying he was told the Armstrong brand is not being shut down, and that many of their tools would now be made by Gearwrench. I don’t know what that means – that Armstrong will live on in name only? Would that have happened if Sears Craftsman hadn’t shifted from USA-made tools to imported ones?

It was widely believed that some of Sears Craftsman Professional tools were relabeled Armstrong tools. But that was a few years ago now. I find it hard to believe that Sears Craftsman and Apex Tool Group – which I’m guessing is their partner here, going by their history and the Apex-characteristic Double-X/X2 double-jointed pliers – put all these new pliers through design, production, and distribution phases in the couple of weeks since Ideal and Western Forge declined to extend their contract or provide any “transition period” products. I don’t know what’s going on, but my observations suggest that Sears Craftsman was already looking to replace Western Forge’s USA-made Craftsman pliers before Ideal declined to extend their contract or provide transition period support.

Maybe other things factor into Western Forge’s decision, such as fear of Sears not being able to pay for products shipped. N0te: Western Forge also makes, or made, certain other tools for the Sears Craftsman brand, most notably screwdrivers. Western Forge announced in September 2015 ( that layoffs were likely. There have been not been any recent announcements of that kind. As a reminder,, but Sears retains the right to market their own Craftsman tools. One of the things Stanley Black & Decker has said is that. That’s bound to complicate Sears’ contracts with suppliers.

What will happen once Stanley Black & Decker (SBD) starts marketing their first Craftsman tools, likely creating competition between SBD Craftsman and Sears Craftsman product lines? This is also why I keep saying Sears Craftsman instead of just Craftsman. If anyone from Western Forge, Ideal, Craftsman, or Sears, can shed additional light on the situation, it would be much appreciated! I can’t speak to a “good” brand of screwdrivers, my snap on set is nice but I don’t think you need to spend like that for good ones. I’m sure someone will send you to the Germans for high end stuff, which is probably a good place to start.

If you’re regularly breaking screwdrivers though, look in magazines for a harbor freight ad, you can get their basic set free with coupon. I work in construction and mercilessly beat and pry on them. They really don’t complain, and if I break one I’ve got three more free sets as backup. If you liked the old Craftsman – mostly made in the USA by Pratt-Read (now a subsidiary of Ideal) – maybe you want to look at Ideal.

My own recent favorites are Wera – Stainless Steel drivers with laser etched tips. The sobering issue with screwdrivers is that they are not lifetime tools even in regular use. The Phillips drivers are particularly subject to getting buggered up. Many manufacturers have gone over to hardened tips – and maybe that helps a bit – but if you inadvertently let the driver slip/cam-out you are going to wear the tip. Driving hardened screws will exacerbate the issue. Gordon’s link to Tekton is worth a look, Stuart has also posted about Felo, lots of electricians seem to like Klein, Wiha has a good reputation (I don’t like some of their handles) and Knipex makes screwdrivers too.

Go European; Wera, Wiha, Felo, PB Swiss, Witte, Gedore(in no particular order) are all nicer than Snap-On, Klein, Tekton, WF. Sadly the US just doesn’t make screwdrivers as good as the Europeans. Out of all the US screwdrivers, I’d probably pick Snap-On but I’m looking to add Proto Durateks to my collection. Tekton’s USA drivers are cheap and comfortable but the finishing on them is a little rustic. Klein just doesn’t fit philips heads as good as other screwdrivers at that pricepoint, comfortable grip though.

Vessel out of Japan makes good screwdrivers also. I’m sure there are several good screwdrivers out of Japan but I don’t have any experience in other brands’ screwdrivers from Japan.

Back to German, you can buy these Napa screwdrivers made by Witte on clearance here: Here’s the big set. Back in March of this year, Sears qualified one of their required reports to the SEC with a statement indicating there was a high risk of a cash flow problem to occur/begin sometime this year. In July 2015 Sears made a sale-leaseback deal for a bunch (266) stores in exchange for $2.7 billion in cash. There was a $500M note included around this time, which is due in July. At the same time this sale-leaseback deal expires and is due to be renegotiated.

I’ve been hearing quite a number of suggestions over the past couple of years that Sears CEO Eddie Lampert has been personally involved on both sides of some of these transactions and stands to personally benefit no matter which way things go. It’s not unheard of for upper management teams to skin a company for all its worth by making intentionally poor business decisions and selling off chunks for cash a bit at a time for personal benefit, then hiding behind bankruptcy law to skirt suppliers and employees. Around here we call that “pulling a Kodak”. In any event if I was a supplier to Sears and it was this clear the writing was on the wall, I’d have my legal department decide what the best way to protect our own company and employees would be. Sounds like Western Forge made their own decision before getting caught with their pants down.

Seems likely nothing more than a risk management decision. Some external sources. I feel like I’ve read more in depth articles but the sources and titles escape my poor memory at the moment. At most stores, once things go on clearance, they stay on clearance (possibly periodically further reducing prices) until they finish selling their stock. At Sears, apparently ‘clearance’ is just another word for temporary sale. I heard about their many older Craftsman pliers going on clearance a couple weeks ago, but before I got around to buying any of them (thinking there was no hurry since it wasn’t a temporary sale), they cancelled the clearance to go back up to full price or tiny-amount-off sales two weeks before Father’s Day, which I suspect is the motivation (take one more shot at selling them at full price when a lot of extra tool purchases will be happening). There had been a few other tools on clearance too, and almost all of the clearances were cancelled at the same time.

I don’t recall seeing many USA Made Husky pliers recently. The Brand – once part of New Britain Tool (acquired by Stanley) – seems to have been picked up by Home Depot many years ago as one of their house brands. They have various OEMs for pliers – like Great Neck (UPC prefix 076812), Hangzhou Great Star (UPC prefix 820909), Iron Bridge (UPC prefix 811187), and Jiangsu Jinlu (UPC prefix 848949). I have seen some of their wares with UPC prefixes 037103 (Apex) and 648738 (Western Forge) so there is some hope. The companies that Sears has making their tools are wise for not continuing contracts with them. They’re smart enough to read the writing on the wall. As soon as sbd starts releasing Craftsman under their name, the Sears Craftsman will be permanently dead, no thanks to Eddie.

There won’t be anyone willing to produce or distribute anything for Sears Craftsman brand in the near future. Maybe Eddie can work something out with Harbor Freight or the company that makes tools sold at the dollar store. I’m sure that people from Western forge has been to Sears & probably thought “we need to get as far away from Eddie and his company as soon as possible.” Eddie can’t even flip the bill to take care of his own stores. Kmart anyone?

And it seems that everyone that had something to do with Sears & making tools to be sold at Sears stores are trying to get as far away from Eddie and Sears as fast as they can. They would rather get sued for breach of contract than continue dealing with Sears. Way to go Eddie.

Man, it’s like watching a trainwreck.Sears could pull themselves out of this death spiral if they would devote some of their funds to manufacturing in the USAor at least engineering and creating a quality line of toolsthey’re just selling the same crappy import tools everyone else does, and I don’t think there’s a market for them when they’re marked up at Sear’s “discount” prices.(the classic 50% offwhen it’s a 300% retail price!). I think they’d already be closed if not for their appliance business.such a shame to see where they’ve ended up when you see the glory of the old Sears & Roebuck catalogs. What made the Sears Catalog – was that you could get most everything (including a kit house) from this giant Chicago-based company and have it delivered by rail to your local depot. Travelling peddlers and local general stores by comparison had little selection. Much like the internet of its day, the Sears catalog was a paradigm shift in the way Americans shopped. Maybe the small is beautiful idea for houses will be a transformative shift too.

Meanwhile my 5100 sq. Foot house – plus another 2400 sq. Of basement and about 1800 sq. Of stand-up attic – is constantly being dwarfed by other locals who are building or adding onto ever larger places.

And its not like any of them (or most of us) need all that space because of large or extended families. We are sometimes happy to retreat to our place in Florida – much cozier than rattling around a big house especially in the winter – and just big enough for the kids to visit and stay (at least in shifts). I recently read the book, “Glass House.” It details the story of how Anchor Hocking Glassware had all the real-world value sucked out of it, beginning with a hostile takeover by Carl Icahn, but then a bunch of other convolutions, all designed to make money for the predatory global financial sector using smoke and mirrors.

This book put together the pieces that I’d been seeing for a long time, including the destruction of small towns I’m familiar with either personally or thru the news. I’ll still buy US made when possible, but the hope that this will result in anything much is gone as far as I’m concerned. While reading it, I thought about the Sears story and so many others. The book didn’t have solutions, but at least it gave a clear picture of the problem. Reported months ago: SHC owes 2.2B to its Pension Fund by approx.

If they go into bankruptcy before end of July it would have came due immediately. SHC will not be able to repay so look for Bankruptcy in either August or most likely after the holidays in January 2018.

Talk of manufacturing tools in USA “would’ve saved Sears, etc.” would never have been possible. Look at Snap-On, Matco, MAC who all import more and more each year. Everyone should keep in mind, no Bricks and Mortar Retailer is growing since about 2002. More jobs have been lost (Not just low wage) in Bricks and Mortar than the already long dead Coal industry. Big Box Store Managers make between 85K to 180K annually.

Polaris Keygen Generator there. District and Regional Managers 100K to 250K. So when we talk about jobs lost in the economy... It is kind of funny how everything old is new again – or at least in some new and different incarnation. I recently sold my Amazon stock (when it hit the $1000 mark) thinking it was near the top of its run – wanted to not be greedy and cash in on profits that while not in the Bezos class were nonetheless very substantial.

I had parked most of my capital in stocks and bonds from the sale of my business interests when I retired in 2012. I bought mostly index funds – but also a few individual stocks like Amazon and some dividend-paying utilities. Maybe I should have held for a week longer – because the stock is up again after the news that they were buying Whole Foods. So it seems that even Amazon still sees some value in bricks and mortar – but according an article in Forbes it may not be good news for Whole Foods employees. The news that they bought WF and are likely getting rid of cashiers didn’t seem like a good thing. A lot of the WF employees do more than cashier, they know about products in the various departments and a lot of those products are fairly specialized.

I have a whole lot of allergies and finding the products I need generally isn’t easy. The way Amazon’s website is organized is clunky and often inaccurate info just won’t fly with me. Many of the WF customers are like me (and allergies seem to be on the rise) so not sure how their model will work. Many of the WF customers may begin to shop more at the local stores, is my guess.

Also, we like those salesclerks. One of the reason we go there rather than buying our organic coffee online. Bricks and Mortar stores may need to offer something more than what Amazon currently provides. (For one thing, they have people reviewing products for free, millions of people giving them their labor. Not complaining since I use them and sometimes contribute, but it’s a big factor). IMO, Sears tried to be partly like Amazon with but ended up with a crazy website and and strange pricing and failed miserably.

Even if Amazon succeeds with WF, sounds like you made a good investment:). I have bought only a handful of individual stocks over the last 50 years because I think it too iffy.

Most that I’ve bought have proved me right by doing nothing or losing money for me. Amazon was an exception (5 times selling price increase in 5 years).

As they used to say “if only you had tomorrow’s WSJ today – you’d be a very rich man”. I am still amazed that Amazon stock has done so well – pushing their P/E ratio up around 190. Compared to the utility stock that I bought (P/E ratios in the low 20’s and companies like Home Depot (also in the 20’s) a 190 is really crazy IMO – and I wonder if future earnings will ever meet up with the expectations being set by their current stock price.