Craftsman tools division sold to Stanley!
#26
I wish stupidity was illegal, Lampert would be serving a life sentence (not sure where that would leave me
Crazy ). But Admiral is right, it (Sears) was a mess when he bought it; and so was K mart. I can't imagine anybody thought something good would come of that. I did notice the news reported they would close 150 stores, but as I understand it, the lion's share will be K mart stores.
I started with absolutely nothing. Now, thanks to years of hard work, careful planning, and perseverance, I find I still have most of it left.
Reply
#27
When I read about it today in the newspaper, it looked more like a break up of the company to maximize shareholder value. They also said it wasn't enough to make it through 2017.
A man of foolish pursuits
Reply
#28
(01-06-2017, 10:06 AM)fredhargis Wrote: I wish stupidity was illegal, Lampert would be serving a life sentence (not sure where that would leave me
Crazy ). But Admiral is right, it (Sears) was a mess when he bought it; and so was K mart. I can't imagine anybody thought something good would come of that. I did notice the news reported they would close 150 stores, but as I understand it, the lion's share will be K mart stores.


      Never understood wwhy Kmart a faltering company itself thought that buying another wwith was doing much worse. 
  
          I remember back before Kmart closed all their stores in tx that they had a good selection of tools and that walmart did as well but after Kmart closed te selection at Walmart went away within a few months down to what it is today. 

         The one comment I hear allot is that the quality of craftsman has gone down allot in recent decades. When I look at their history of tools vs competitors it really isn't much different now. They never were great tools they were hobbyists grade ssolar to black and decker. Their woodworking machines were IMO sad way back compared to what was on the market now. 

       In contrast today tthey do have some products that compare better than in the way back... IE their big bandsaw which is a cousin to the Rikon and others like it. Their jointer is a kin to a griz or other similar machine. The table saw is what's left of Orion/steel city. In fact sears was what got them started as they were the only ones to commit to a big order from a no one company starting out. Their routers like I have mentioned are area great deal. All those tools I mentioned are the best that sears has ever offered and for the first time in a better league. The idea that their stuff was really great back in the day is just nostalgia. 
         That said allot of their items can be had at harborfreight like their corner clamps are exactly the same. I had just taken in Ina pile of of the really old green ones to exchange because the pads kept falling off. Some were from a kit that were new in box from from an estate sale and they were obviously poorly made. That's tools from back in the day that some think we're so great....

              Imo there is a huge amount of potential with the craftsman name and product line. They could turn it into a very respectable line of machines and tools. However black and Decker has made a mess of every tool company acquisition do date. Look what happened to porter cable and delta. One turned into a store brand for lowes and the other died another 2 times. They dropped all of the good PC tools etc. 
       
                 I will be hopeful they can make make a good product line and make it here but I won't be disappointed if it goes badly. I suspect the craftsman tools ttat black and decker will make and sell will just be a rebrand. Will be odd with two companies making their own tools and selling them under the same name.
Reply
#29
B&D made a number of grades of tools, their Industrial line were  quite good. The cases are now yellow and say Dewalt on the label. The B&D Industrial were not as good as Milwaukee or Porter Cable, though. Porter Cable is part of Black and Decker now and Milwaukee is just another Chinese brand.
A man of foolish pursuits
Reply
#30
In the financial news today:

U.S. (multi-national) private equity firm KKR & Co LP said on Friday it has agreed to buy Hitachi Ltd's power tools unit, Hitachi Koki Co Ltd , for about $1.3 billion, its second billion-dollar deal in Japan in three months.

KKR is a pioneer in the leveraged buyout industry, the firm has completed over $400 billion of private equity transactions since its inception in the 70's.  In 1989 they scored one of the biggest buyouts in history at that time and for the next 17 years- the $31.1 billion (including assumed debt) buyout of RJR Nabisco.  It was eclipsed by KKR's $44 billion takeover of Texas-based power utility TXU in 2007, which proved to be the largest leveraged buyout of the mid-2000s.
Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)

Product Recommendations

Here are some supplies and tools we find essential in our everyday work around the shop. We may receive a commission from sales referred by our links; however, we have carefully selected these products for their usefulness and quality.