Wednesday, March 22, 2017

Heckuva Job

Nobody could have predicted that a sociopathic Ayn Rand-worshipping CEO who thought pitting departments against each other within stores was an excellent idea would destroy a company.

After years of huge losses and store closings, the future is officially in doubt for Sears and Kmart.
Sears Holdings (SHLD), the holding company for the two iconic retail brands, warned investors late Tuesday that it can't promise it will stay in business.

Times change and not all firms survive, but often this banal fact gives cover to the fact that many iconic institutions are looted and destroyed by the people paid lots of money to run them (many local newspapers, which perhaps would not have survived anyway, were looted and prematurely destroyed).