tag:blogger.com,1999:blog-7514357.post2246873761217281137..comments2024-02-25T08:16:25.546-08:00Comments on Exurban Nation: Sears the REITRob Dawghttp://www.blogger.com/profile/10042154106850545479noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-7514357.post-86535447686125044682009-12-03T12:12:23.204-08:002009-12-03T12:12:23.204-08:00Remember the lead balloon when Target proposed bun...Remember the lead balloon when Target proposed bundling all their CRE and spinning it off in a leaseback arrangement? Talk about dodging a bullet.Rob Dawghttps://www.blogger.com/profile/10042154106850545479noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-66056333492453937132009-12-03T11:51:02.609-08:002009-12-03T11:51:02.609-08:00And by "inventory" above, I mean real es...And by "inventory" above, I mean real estate. Ever since they were bought out, they've been in the real estate business, not the retail business.Peripheral Visionaryhttps://www.blogger.com/profile/02489447120517274000noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-28314867192034479802009-12-03T11:49:44.256-08:002009-12-03T11:49:44.256-08:00Sears' "business model" was actually...Sears' "business model" was actually viable back in the day--less than two years ago--when retail was exploding and commercial space was at a premium. Had they been more active in unloading inventory, they could have realized a much higher value for what was left of the company.<br /><br />Unfortunately, they still have too many stores. They do have core competencies--tools, appliances, and selling to Hispanics in urban areas--but too many stores for that, and Wal-mart and Target encroaching on their domain, with Target making moves into inner-city neighborhoods.<br /><br />A lot depends on their capital structure, but I'm under the impression that it's not good. They own most of their properties outright, which is a huge advantage, but are also heavily leveraged, which is not. It's not looking good for them, unless Wal-mart or Target unexpectedly go off a cliff.Peripheral Visionaryhttps://www.blogger.com/profile/02489447120517274000noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-65336769081841205362009-12-03T05:28:00.638-08:002009-12-03T05:28:00.638-08:00Cramer said Sears would be the next Berkshire Hath...Cramer said Sears would be the next Berkshire Hathaway a few years ago. I still have the recordings from his old radio show. Don't know why.Lou Minattihttps://www.blogger.com/profile/16096986232572086745noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-86176961668609393692009-12-02T17:15:07.285-08:002009-12-02T17:15:07.285-08:00Soto Street Sears? I thought Sears was a hedge fun...Soto Street Sears? I thought Sears was a hedge fund now. Their stores sure do suck. I almost got robbed for tires there recently, $125 each for 14 inch chinese tires...I just drove away and went somewhere else.Lost Causehttps://www.blogger.com/profile/18396272153746076615noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-77888550333600662932009-12-02T15:44:59.791-08:002009-12-02T15:44:59.791-08:00Four or Five years ago there was talk of an
invest...Four or Five years ago there was talk of an<br />investment deal where Target and a<br />REIT were planning a hostile takeover of<br />Sears. I suppose they're glad<br />that little plan never materialized.Entertainedhttps://www.blogger.com/profile/17573363368713344789noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-20519656323064314692009-12-02T15:42:14.846-08:002009-12-02T15:42:14.846-08:00Meanwhile, can we have a moment of silence for SRS...Meanwhile, can we have a moment of silence for SRS?Doughttps://www.blogger.com/profile/05465843082438061937noreply@blogger.com