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11/17/2004

K-Mart and Sears Merger Possible

K-Mart's blue light special has found a new home...

K-Mart and Sears are merging to create the nation's third largest retailer.

The chairman of K-Mart says the merger will produce a higher return than either company could achieve on their own.

The new company will be called Sears Holdings Corporation.

Under the 11 billion dollar deal... K-Mart shareholders will get one share of new Sears Holdings stock for each K-Mart share.

With stockholder's approval, the merger could be in the bag by next year.

I'm not very fond of either Sears or K-Mart because of labor practice issues, but at least Sears does sell union-made clothing like Carhart and made-in-America tools like Craftsman (although their deal to equip riding mowers with Honda engines disturbs me), but I can't forget that there is also a serious issue with the practice of paying certain Sears sales associates by commission only- which to me should be illegal in our workforces in the retail industry and the company has a list of racial prejudice violations a mile long against them.
Whether or not this merger happens, the bottom line is evil Wally World is going to exist and Sears/K-Mart will continue to sale products made from companies which have outsourced or from sweat shops and anti-union companies.

Bottomline is consumers need to take a stand for American Made products and educate themselves about where they spend their money, until then the oppression continues.

1 Comments:

Blogger ProgressivePatriot said...

I hope this merger benefits workers who see Wally World as their only choice of employment.
Both K-Mart and Sears treat their people with much more respect than Wally World but, they still have a few issues. I will continue to use them and also, continue to voice my preferences for American made products.

SMWIA

1:19 PM  

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