Joined: 07 Aug 2003
Posts: 245
| Posted: Thu Aug 07, 2003 1:25 pm Post subject: Footie, what do have to say about these Lacy comments ? | |
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If the following statement is true, (this question was asked several times on this forum with no reply answer so far) then no, Alan doesn't deserve the large salary and bonus he got. This situation cost thousands of Sears employees millions of dollars from their retirement income !
In fact, there are still hundreds of lawsuits waiting to be resolved because Sears gave out misleading information about their rosey financial conditions before the stock price collapsed ! " Isn't it true that Alan was the one that got us into the credit card disaster originally, he was head of the credit division for 6 years before he became CEO. It was his doing that got us into the terrific default problem by sending Gold Mastercards to millions of people who in turn got cash advances with the idea of never paying it back. It was his mistake that caused the stock to go from $60.00 to $18.00 in the first place ! " 
Last edited by Sears Sucker on Mon Aug 11, 2003 3:59 am; edited 2 times in total |
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Joined: 07 Aug 2003
Posts: 245
| Posted: Fri Aug 08, 2003 1:44 pm Post subject: | |
 
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Joined: 05 Jul 2003
Posts: 1522
Location: chicagoland by the big guys
| Posted: Fri Aug 08, 2003 3:42 pm Post subject: | |
 Could you imagine if we made such huge mistakes!!! Did you see how much other retalers went up Alan it is not working yet
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Joined: 04 Jul 2003
Posts: 137
| Posted: Mon Aug 11, 2003 3:18 am Post subject: Re: Footie, about your survey's on income and bonuses for CE | |||
Are Lacy and Lampert just buddies,? from an article on " BusinessWeek Online " " Lacy, whom Sears says is in regular contact with Lampert, appears to be following a similar strategy. Consider the share buybacks. Analysts can't recall the retailer repurchasing $1 billion worth of shares in a single quarter before. What's more, the board has authorized another $1 billion buyback. And analysts expect Sears to use much of the $4.5 billion in aftertax proceeds from the credit sale to repurchase even more shares. Result: a stronger stock -- and a bigger stake for Lampert. Lacy also appears to have shifted his cost-cutting goals since Lampert came on the scene. Besides going after headcounts and store expenses, he has reduced capital expenditures, which he cut this year by 15% from earlier projections. Much of that reduction stems from Lacy's pullback on Sears' new home-remodeling store, the Great Indoors. A former Sears official says Lampert made it clear that he didn't think the concept was a wise use of funds. Given Lampert's zest for unlocking value, it stands to reason, say investors, that he may look to the real estate holdings. Sears owns 519 of its 872 mall stores. Richard C. Moore, an analyst at McDonald Investments Inc. and an expert on mall properties, thinks Sears' properties could fetch $7.6 billion. Whether or not Lampert moves in that direction, he has already made his mark on America's third-largest retailer. "
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Joined: 15 Jul 2003
Posts: 13
| Posted: Thu Aug 14, 2003 3:23 am Post subject: | |
| Perhaps Sears could sell the mall locations to Walmart since they are looking to place stores in the malls now. Since Sears is so behind the times, they will probably be able to purchase vacated stand alone Walmarts. | |