RIP, Sears Canada
How sad that Sears Canada has come to an end (End Of The Road For Sears As Retailer Set To Close Shop, Oct. 11). Putting executives and profits ahead of employees and customers has driven the company to extinction. In recent years, Sears cut back on wages, training, hours and benefits for front-line employees, in favour of shareholder profits and management bonuses. Even in downsizing, the company chose to cut employee benefits and pensions before executive bonuses.
Mismanagement. Overmanagement. Micromanagement. Greed. Profit. Destruction.
Lesson: When you put your employees first, they will take care of your customer, and the customer will take care of your profits. Putting the cart before the horse has not worked since the invention of the wheel.
RIP, Sears Canada. – Blair Boudreau, Toronto Re Why Sears Failed: Wartime Lessons From Winston Churchill (Report on Business, Oct. 12): I wonder how Churchill would have fared if one of his generals had unloaded Britain’s best armaments, and kept much of the money for himself? Tough to win a war without tanks, ships and planes, wouldn’t you say?
That’s what Edward Lampert did to Sears, selling many of its most successful assets/stores to purchasers in which he has a major stake.
Unlike its American stores, Sears had been doing relatively well in Canada (as had Zellers, by the way). So I really wish we Canucks would stop with this “Sorry, excuse me, my fault” nonsense, and realize that the enemy is not ourselves, but investors (often American hedge funds) which take over a company, empty it out, and leave its workers with no jobs and no savings.
And when these – literally – poor people are left with little or nothing, the rest of us will likely have to step in to help them through government assistance programs. So before the court meekly bends over to permit Sears’s annihilation, perhaps the long-term impact of such a decision on the rest of society should also be taken into account. – Gino Nicodemo, London, Ont.