Lowe’s out of touch

[turnthewrench 2.0]

We really need a law in this country that says if you're the CEO if a public company and it goes bankrupt, that you can never again be a CEO or director.

Well, Apple didn't go bankrupt, but almost. Previously fired Jobs put it back in the spotlight.

Nah...

 

[yrly]

It never ceases to amaze and disgust me how imperial CEOs can loot companies, stiff the suppliers, ignore shareholders, and leave employees, and walk away with everything.

We really need a law in this country that says if you're the CEO if a public company and it goes bankrupt, that you can never again be a CEO or director.

Sent from my Pixel XL using Tapatalk

Shareholders got stiffed but the writing was on the wall and if you they didn’t bail you can’t really be sympathetic. Employees lost their jobs because of it sure but there again the writing was on the wall I mean they had 10 years to watch this thing falling apart to look elsewhere. At least some can work for now. Vendors got paid and some employees got severance under the buyout though. That’s why the vendors didn’t push for the liquidation when the buyout offer came out and some even supported it.

The rumors I heard were that the Sears Hometowns will exist as they are now a separate company. There are not many of them. The closest one to me is over an hour a way. I would drive by 5 or 6 Lowes and Home Depots to get there.

They sell basically Appliances, ODPE, tools and some spare parts. I can't see the Sears stores surviving as long as Lambert is involved. I give them a year or two before he ***** the life out of them.

I’m halfway between a full line Sears and a hometown. Problem is Eddie owns like 75% of Sears Hometown.

 

[mudflap]

What little Craftsman that Lowe’s/Stanley has stocked at our local Lowe’s stores isn’t anything worth writing home about. Perhaps I’m just a diehard Sears/Craftsman snob... and I’m well aware Stanley/CM is still sourcing some tools from Apex, but it just does feel the same. I always enjoyed looking at and buying tools from Sears. Lowe’s on the other hand... doesn’t have the same appeal. The new Craftsman line... doesn’t have the same appeal.

It just isn’t the same Craftsman, no matter where it’s made now or will be made in the future, period. It’s just another brand bought out by a larger company who’s only intentions are to prostitute and capitalize on its name and heritage. That upsets me more than when Sears/Apex began outsourcing to China and Taiwan. And for that reason, I’m out.

I never bought alot of CM tools, but i agree with you..The Sears tool section had a feel to it.. Thats gone..not coming back.

 

[Wamsutta]

Thanks to the OP, I now have this song stuck in my head.

 

[BigBoreFan]

It just isn’t the same Craftsman,

I'm with Jtels85. I'm no pro, barely a DIYer. I ride motorcycles. If you ride motorcycles you either need tools or a big wallet to hire a mechanic.

Sears was the place to go for me. I could look for hours. I didn't even know where else to go. And the warranty and/or guarantee was the real deal. No questions asked.

My first experience with what I considered nice tools were Craftsman Professional combination wrenches, long pattern, fully polished, made by SK maybe? Bought those in the late 90s. I always liked the Craftsman Processional screwdrivers, the black and red soft handles. And I liked the fully polished Pro ratchets. I actually still like the 1/4 version of that ratchet as far as size and ergonomics, but it is crunchy. I never really liked the RP wrenches and the RP ratchets were nothing special.

I still have a soft spot for Craftsman, nostalgia, but my CM days are over. I've actually been selling off some of my CM USA stuff, for pretty crazy prices on eBay and replacing it with brands I have heard about on here. I sold all my black and red Pro screwdrivers, turned around and replaced them all with SK labeled identical sets, and still had money left over. And I have brand new screwdrivers.

Ever now and then I do look for a CM USA tool I'd like to have but the eBay price usually deters me.

My local Lowes has about two end-caps of CM tools, very small and weak inventory. Mostly socket and screwdriver sets.

It just isn’t the same Craftsman

 

[Mirage]

as far as Lowes and 3/4 Drive, They already had a Kobalt set - https://www.lowes.com/pd/kobalt-20-piece-standard-matte-mechanic-s-tool-set/3364136 Saw one on a sale a few weeks ago, only 1 out of the 5 stores I went to that day.

 

[Fialaja]

I’m not saying Lowe’s can’t sell 3/4 drive, I’m questioning the loss of valuable shelf space on a product that does not seem to be in demand in vorhees, New Jersey.

 

[Bryanthegreat]

Are 3/4 drive sets by any manufacturer in high demand? I feel there isn’t a need for them that 1/2 can’t cover. Heavy equipment techs need them but for general auto repair professional or DIY they are not needed. I miss the selection and layout Sears had for the most part.

 

[NUTTSGT]

I see no issue with Lowe's or any other big box store carrying a 3/4" drive set. The places are visited by more than just DIY'er and homeowners. Like mentioned already, farmers visit the place, along with landscapers, small contractor, larger contractors and plenty of others. Also, think about this simple fact, why do some people shop at Lowe's rather than HD or Menard's ? Because they are a veteran and get a 10% discount.

Keep in mind, some of these guys work on their own equipment, stuff like skid loaders and mason dumps. We live in an area with a quarry and many guys run 10 yd dump trucks, not all of them hire out the work or call a tire truck to swap out a tire.

Some contractors work an hour from their home base and when stuff breaks down, they have to fix at the construction site. They don't always have mechanic tools but they can always hit up a big box store, buy them and put them on the company account.

Just because you don't need it or could use it, doesn't mean nobody else needs it either.

 

[JoeMcGov]

I think the Sears bankruptcy should go to prove Eddie has tried to stack everything in his personal interest.

Uhhhhh.........uhhh.....um.....well..........you know......like..........he's taking the vast majority of the risk. Did you really just publicly display your full and complete understanding of the world of commercial business????

No soup for you!!!!

But 3 of these for you >>>

 

[bob15]

Are 3/4 drive sets by any manufacturer in high demand? I feel there isn’t a need for them that 1/2 can’t cover. Heavy equipment techs need them but for general auto repair professional or DIY they are not needed. I miss the selection and layout Sears had for the most part.

So DIY and "auto repair professional" are the only ones that shop at Lowes?

There are many homeowners that still use 3/4 drives sets on there own items, myself included. Say my 2" socket breaks and the repair still needs to be finished, ASAP, what do I do now?

 

[Bryanthegreat]

So DIY and "auto repair professional" are the only ones that shop at Lowes?

There are many homeowners that still use 3/4 drives sets on there own items, myself included. Say my 2" socket breaks and the repair still needs to be finished, ASAP, what do I do now?

I said “techs” but should have been more general to include anyone working on heavier equipment. All I was saying is 3/4 probably isn’t the top selling item at Lowes. Many retailers carry them obviously people do need it. Relax it’s Sunday

 

[zendriver]

Uhhhhh.........uhhh.....um.....well..........you know......like..........he's taking the vast majority of the risk. Did you really just publicly display your full and complete understanding of the world of commercial business????

No soup for you!!!!

But 3 of these for you >>>

Risk?

The whole con is being (re)-financed with "funny money" in which Eddie can pick the "bones" even cleaner and then simply bail out, with yet bankruptcy later, leaving whatever's left to guess who? - Eddie!

ESL plans to finance a portion of its purchase by trading $1.3 billion in Sears debt it holds for ownership in the reorganized company. The court clarified this week that the bid does not require the company to release Lampert and ESL from liability related to transactions between the hedge fund and the retailer prior to the bankruptcy filing.

https://www.chicagotribune.com/busi...cy-decision-plan-approved-20190207-story.html

Funny thing is, all the "adults in the room" should be cutting him off, but they all just play along.

 

[Tas biker]

Even tool-shaped objects made from chinesium will handle most homeowner's tasks. The fact is that we could do 80%+ of what we do with less than the best.

We need a “like” tab in the forum.

Too many over think such a simple concept. I just ain’t that smart I guess.

 

[Andres26tnt]

no one has said that only professionals can buy 3/4 tools or not shop at Lowes. If you think logically and understand that not many people buy 3/4 tools at Lowe's or even think about buying them there, so it is understandable for them to be a low seller.

 

[Blind1]

I’d rather (and do) buy tekton than craftsman. At least i’m getting non-Chinese and in many cases USA rebrands.

I’ve bought a couple of cheaper items from tekton just because they were made in USA. The warranty is better than craftsman anyway.

 

[DFB]

IMO the tools are there simply to make complete the mechanical lineup whether or not demand is that great. Who knows how great the demand is in the rest of the line anyhow

Its just been the common overlap most often found above a 1-1/4" socket sizing in general. Many tool lines have always transferred over to the 3/4" drive most likely for the anvil strength because of higher torque values in the large sizes

Of course there are exceptions. I have Metric to 38 and SAE to 1 1/2" in 1/2" deep impact (they are also heavy).

Obviously you can get large sockets right up to 2" maybe even slightly larger in a 1/2" drive configuration, and I'm sure they work fine with modern advances in ratchets, breaker bars and 1/2 drive impacts tools, but usually they are going to be much harder to source and a lot more expensive than common 3/4" drive stuff.

 

[ShinedUp]

My local Lowe’s just this week added an entirely new isle, about 40’ long of CM hand tools. The power tools are scattered around on end caps. I realize this isn’t the same as we remember @sears when we were younger, but it does show more effort than I expected from Lowe’s. There is actually a pretty good selection, at least twice what is at my hometown sears.

 

[yrly]

Uhhhhh.........uhhh.....um.....well..........you know......like..........he's taking the vast majority of the risk. Did you really just publicly display your full and complete understanding of the world of commercial business????

No soup for you!!!!

But 3 of these for you >>>

He’s taking very minimal personal risk. Lines of credit were extended by big banks (primarily citi because they make a ton of money on the sears credit cards) so he isn’t paying out of his hedge fund to restock stores.

He paid for the company mostly using a credit bid using debt he created by loaning them money from his hedge fund. His actual out of pocket from the hedge fund was like $1 billion, about what he was willing to pay for Kenmore, Parts Direct and Diehard,

Now as a private company he can siphon off Kenmore and Diehard, spin off the other companies and sell the real estate with no real oversight.

His personal risk and even his hedge fund’s are minimal. With stocked stores and no debt interest payments he should be able to turn a marginal profit for the Christmas season, he will probably IPO the new company to raise more money.

If anything he will be burning shareholders and employees more than anyone if he can’t right the ship. Just like he did the first time around.

Then again it depends on his pride, he’s well connected and probably can come up with funding for a while.

 

[nbpt100]

If I recall correctly, I thought Fast Eddie would be in some kind of extra legal jeopardy if Sears failed before 2020? So it was in his best interest to keep Sears Holding going until then.
I do remember in his offer he had language that would absolve him from being sued. In The Tribune article is says this:

"The court clarified this week that the bid does not require the company to release Lampert and ESL from liability related to transactions between the hedge fund and the retailer prior to the bankruptcy filing."

On another thread related topic. I was speaking to a friend who works at Lowes. He said they are getting his store ready to bring in a lot of Craftsman tools over the next month. He also said it LOOKS like the Kobalt tools will no longer be carried. But he has not heard anything officially regarding Kobalt. if there is demand they will carry lots of Cman tools. If not, then they will scale back what does not sell and refer customers to the website.

 

[DonglordActual]

The clearances are because those items were interim items and Stanley hasn't figured out how to get everything they want out on shelves yet. It's a gradual process.

A lot of stuff is very rushed looking and packaging is kind of a mess on some stuff. Give them some time on this. They're selling pretty well anecdotally.

 

[ddawg16]

I keep reading these threads threads claiming that the average diy homeowner needs “ high quality “ tools, beyond what Craftsman offers today, but I just don’t see it.

What, exactly are the diy projects that require anything buy a box store, or Craftsman equivalent tools? Changing the oil or blade on the lawnmower? Replumbing the bathroom? Fixing the chainsaw or weed eater? Fixing the snow blower? Assembling the new BBQ or rewiring the electrical outlets?

Sorry, but I just don’t see the issue here.

What do you consider the 'average diy homeowner'? Someone who changes their own oil? Replace a water pump? Mow the grass?

I consider myself to be an 'average diy homeowner'....sort of. Besides doing a 2-story addition to my house....I did a frame up restore on my 84 Jeep CJ....which included swapping in a 5.7L Chevy v8. Nothing real difficult....

But it sure ***** when you round off a nut or bolt because of cheap tools.

As we speak, I'm installing some pressure treated 4x4's to a side wall so my wifes Wisteria has something to climb up. I already had 4 there...one was rotted....so I'm replacing it....I'm needing my CM 3/4" deep 1/2" socket to get the nuts off. And the impact wrench makes really quick work of it.

Then I'll use my Bosch Hammer drill to make more holes in the wall.

 

[decableguy2000]

It's not like have 20 sets on display collecting dust. he store I was in this morning only had a few odds and ends. Not all DIY'ers work on small import cars.

 

[yrly]

If I recall correctly, I thought Fast Eddie would be in some kind of extra legal jeopardy if Sears failed before 2020? So it was in his best interest to keep Sears Holding going until then.
I do remember in his offer he had language that would absolve him from being sued. In The Tribune article is says this:

"The court clarified this week that the bid does not require the company to release Lampert and ESL from liability related to transactions between the hedge fund and the retailer prior to the bankruptcy filing."

Yeah he can be sued, but looking through the bankruptcy docs it’s gonna be very hard to prove anything wrong was actually done, or illegal. He did try and buy his way out of it though in the offer.

 

[Higgins]

At our local Lowes, almost all the Kobolt tools have been removed and are in piles back in the dock area! Mum is the word!!!

 

[nbpt100]

At our local Lowes, almost all the Kobolt tools have been removed and are in piles back in the dock area! Mum is the word!!!

I spoke to someone yesterday who works at Lowes and he said they are getting ready to bring in quite a bit of Craftsman tools in the next month or so. He said it looks like they are removing Kobalt, but no body knows for sure what is going on with that brand.

 

[yrly]

I spoke to someone yesterday who works at Lowes and he said they are getting ready to bring in quite a bit of Craftsman tools in the next month or so. He said it looks like they are removing Kobalt, but no body knows for sure what is going on with that brand.

I’ll have to stop in for a look tomorrow and see if they marked anything down.

 

[Fialaja]

So what happens to the people who bought Kobalt for the warranty? Do they get to trade broke Kobalt tools for new craftsman?

 

[Dumber than lumber]

So what happens to the people who bought Kobalt for the warranty? Do they get to trade broke Kobalt tools for new craftsman?

Not according to the employees I questioned at Lowe's last month. Kobalt is owned by Great Neck Tools. But the tags on the products say they can be returned to place of purchase for exchange under the lifetime warranty.

 

[jd_1138]

So what happens to the people who bought Kobalt for the warranty? Do they get to trade broke Kobalt tools for new craftsman?

I imagine they'd just hand you a CM tool to replace it. Probably just costs them a little more than the Kobalt tool. Or they might replace the broken Kobalt tool with their cheapest line -- Stanley or what's that cheap line -- Blue Hawk line?

 

[Revere Cycles]

Most of my local Lowes stores are in rural areas with a lot of agriculture, so the 3/4" drive stuff definitely has a place for the farmers and tradespeople maintaining heavy equipment.

What we have seen with Kobalt is a shift from high quality USA made tools by Williams, to lower priced USA made tools by Danaher, and eventually the same Taiwanese and Chinese stuff you get from Home Depot, Do It Best, and Advance Auto Parts. Today I look at Kobalt and see almost no incentive over comparable offerings from Harbor Freight under the Quinn or Pittsburgh Pro line. Perhaps that is the target audience of Lowes; the homeowner/weekend warrior vs trade professional.

Craftsman was a household name that stood for something, but that reputation has eroded in the last 15 years as their mainline was sent to China, and the loss of their USA made Professional and Industrial tools line. I am not sure the current generation of shoppers cares, I don't really see regular Lowes shoppers thinking twice about COO like we do here.

Should Craftsman move production back to the US? That would be nice, but it would likely result in a massive price increase, requiring Lowes to keep the Kobalt line on life support. Personally, I could care less since I have moved on to other quality tool brands to fill out my collection. Saving Craftsman is merely a quixotic pursuit of nostalgia. Let the name remain, drop Kobalt, and buy from SK or Wright if you want something new with a USA stamp on it.

 

[yrly]

Well I went to Lowe’s today to see if they’re clearing out any Kobalt but nothing locally, this must be done demographically based on what’s around (there are a harbor freight, tractor supply, Lowe’s, Home Depot and sears all within a 5 mile radius here).

Lowe’s is also expensive for the limited Craftsman stuff they do carry, no wonders Sears is offering that price guarantee. What are they gonna try and do, just undercut Stanley with cheap Chinese stuff if they manage to stay in business until Stanley gives up?

I think the big thing that most people don’t realize is unless you’re really up on this stuff I bet 2/3 of the buying populace doesn’t even know there is any difference between craftsman st Lowe’s or Sears or Ace. To them it’s just a brand and they’ll buy it where it’s cheapest. Then again how many even look where it’s made?

Our Sears is really close to a bunch of car dealers and I see mechanics in there all the time probably just buying for the sake of an easy warranty swap or whatever the boss has them got get or they need in a pinch. They don’t even seem to care where the stuff is from.

On the 3/4 topic our Lowe’s does carry a 3/4 inch Kobalt set for $129.99. So about double the price of Harbor Freight and slightly more than tractor supply, Sears just got them back in so I dunno what they currently sell them for as just a 3/4 inch set (I bought that big set posted here the other day but it had tons of other stuff in it).

 

[earthmover1980]

The issue is American pride.

 

[Chucktin]

I would like to have all "Made in the USA" labels but fitting in my budget is also important. I try for bang-for-the-buck buying. If I know I'm buying an odd tool it's HF and maybe a throw-away. If I need quality, real quality I'll study before I shop and then usually use Amazon. Because I'm not buying made by Tiffany but made to use.

 

[nbpt100]

I think the big thing that most people don’t realize is unless you’re really up on this stuff I bet 2/3 of the buying populace doesn’t even know there is any difference between craftsman st Lowe’s or Sears or Ace. To them it’s just a brand and they’ll buy it where it’s cheapest. Then again how many even look where it’s made?

Our Sears is really close to a bunch of car dealers and I see mechanics in there all the time probably just buying for the sake of an easy warranty swap or whatever the boss has them got get or they need in a pinch. They don’t even seem to care where the stuff is from.
.

I think you are right about the average home owner who fixes a few things here and there. The dont know or care to know the difference. They don't have their heads in to the DIY world like the member here. I would say that older folks believe Craftsman is a good quality brand. It is a household name. They are also a bit more aware of where stuff is made. Younger folks are not phased by were stuff is made as much. They never lost a job due to outsourcing. Yet.
If you are a mechanic and being whipped and need a tool to finish a car, you will go to the closest source and get what you need. Price and COO are not going to be as important as the time savings.

I would say that Sears you spoke of is in a smart location for mechanic tool sales. The tool trucks must be hoping they close it.

 

[DakotaMan]

I keep reading these threads threads claiming that the average diy homeowner needs “ high quality “ tools, beyond what Craftsman offers today, but I just don’t see it.

What, exactly are the diy projects that require anything buy a box store, or Craftsman equivalent tools? Changing the oil or blade on the lawnmower? Replumbing the bathroom? Fixing the chainsaw or weed eater? Fixing the snow blower? Assembling the new BBQ or rewiring the electrical outlets?

Sorry, but I just don’t see the issue here.

Changing the brakes on a 04-08 RWD F-150 requires a 3/4" torque wrench. That's average DIY.

 

[yrly]

I would say that Sears you spoke of is in a smart location for mechanic tool sales. The tool trucks must be hoping they close it.

It probably will be one of the last to go, it’s made it this far. It’s just better managed than many of them. Though the odd thing is it really came before the car dealers, they started moving to that area from the city dealerships maybe 5 years after the Sears opened. It’s just a straight 2 mile shot to a mile long strip of car dealers. It’s also not far from a college that has an auto program.

Thing is they don’t have to wait for tool trucks because it’s so close by. I mean if I worked at the dealers I’d probably do the same since it’s so convenient. Can’t say I blame them.

 

[nbpt100]

It probably will be one of the last to go, it’s made it this far. It’s just better managed than many of them. Though the odd thing is it really came before the car dealers, they started moving to that area from the city dealerships maybe 5 years after the Sears opened. It’s just a straight 2 mile shot to a mile long strip of car dealers. It’s also not far from a college that has an auto program.

Thing is they don’t have to wait for tool trucks because it’s so close by. I mean if I worked at the dealers I’d probably do the same since it’s so convenient. Can’t say I blame them.

Good for the workers at that Sears. I hope they thrive.