Oct. 19, 2018: Tears for Sears
The Jourmudgeon notes with sadness the apparent demise of Sears, which has filed for protection under Chapter 11 bankruptcy laws. That means that the hedge fund shark who runs the company now will be shielded from creditors while he continues to strip it of all its remaining resources, until he can finally take what’s left of the money and run.
When The Jourmudgeon was a lad, just after the earth cooled, a visit to a Sears store was as much a treat as A&W Root Beer. But not even visiting Sears could rival the thrill of the solid thud of the new season’s Sears catalog hitting the porch, because we knew that exciting things would be arriving soon by mail, even if it was just school clothes. In the early 20th century Sears had launched a retail revolution. Without ever leaving your home, you could browse the catalog of a giant retailer for everything from houses to nylons (a precursor to pantyhose), place an order, have it delivered to your door, and then return it when it didn’t fit and wait for a refund.
Alas, Sears did not keep up with the advent of big box department stores and, especially, the internet, which launched another retail revolution for the 21st century. Without ever leaving your home, you could browse the catalog of a giant retailer for everything from houses to pantyhose, place an order, have it delivered to your door, and then return it when it didn’t fit and wait for a refund. Sears, caught flat-footed by such innovative technological genius, could not hope to compete.
