Noreen you are right on the point. I have been a long term WSJ reader. Since Mr. Murdoch took over the newspaper, I can feel lot of changes. The content of the paper was degrading. They tried to milk as much money as possible from the reader.
For example, I had the online subscription, recently I got a big screen Android phone, and want to check the news on the smart phone ocassionally. Guess what, WSJ want to charge additional fee for accessing from the phone. Furthermore, if you read the paper in different languages, more charge again. Subscription fee is raised almost every year, unless you complaint loudly.
The transition of WSJ from Bancroft Family to News Group is a bad move from reader's point of view.
Re: Buggy Whipped
cat tail
1/5/2012 9:18:10 AM
You guys have me longing for the time when businesses were run by people with a passion for the business -- rather than just a passion for (personal) profit. That all seems so long ago.
That's a valid point, and one that seems to cut across many industries. Many people attribute the steep decline in US media to the fact that newspeople stopped running the shows. The decisions started being made by accountants and executives with no experience or connection to the industry. And while that results, as you note, in short term profit, it saps the strength from the company to the point that it eventually fails.
In the book "Celebration of Fools", Bill Hare said the major reason for the fall of JC Penney during late 80s and early 90s is due to the new CEO (W.R. Howell) who was more a Wall Street guy, instead of store salesman. In retail business, this kind of leader usually is good at boosting stock price in short run, but less capable to find the right way in the long run.
If you check the history of Sears Holding since Mr. Ed Lampert ( a hedge fund manager) took over, it is basically a replay of JC penney in the 90s. Ed was very short term focused - cutting cost, closing stores, alinate with vendors by pressing hard on them, all these short term methods gave the stocks a quick boost. When the low-hung fruits are all gone, the hard time came, and the damage is so deep, it is very hard to heal in short run.
Successful retail firms like Walmart, Costco, etc, usually have the leaders who is passionate about the retailing business itself, instead of stock price, conference, and public relation.
And what customers would it expect to attract? Is any business naive enough to assume that a failing store is chock full of customers?
Re: Depresing web surfing
Dex
1/4/2012 10:44:06 AM
Why any business would want to lease space inside one of those wrecks of a Sears or Kmart store is beyond me!
Here's some depressing way to waste some time on the web: Take a look at all the space you can lease in closed or partially occupied Sears and Kmart stores. SHC Realty, the real estate arm of Sears Holdings, lists more than 3,600 stores with space available to lease. Prospective tenants can lease space within an existing Sears or Kmart store, on a lot owned by the company, or set up shop next door in something referred to as "demised space." There are also opportunities for licensed businesses to set up shop inside one of Sears' stores.
Is Sears unique? Of course not. Lots of retailers have empty space. But it seems like SHLD may have have the dubious distinction of having the most excess space.
The last time I shopped in Sears was about 1986.
They do have a good appliance warranty service though.
I think this is a big part of the problem: What do you buy at Sears? Back in the day it was lawnmowers and tools. The lawnmower and tool franchise has gone to Home Depot and Lowe's. Some people also bought clothes, or maybe furniture there. People can now buy clothers and other stuff at Target.
And then there's WalMart...
In the end, I think Sears has no identity in today's complex network of niche shopping brands.
training
AskAsa
1/1/2012 9:14:20 PM
A shrug, roll of the eyes or condescending tone can drive a customer away forever.
Companies spend millions lecturing employees on workplace ethics, harrassment, etc.
But just the basics of how to treat a customer with respect fall through the cracks.
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