I agree with all of this. It's such a shame to see the brands that once were synonymous with high quality become cheap crap. While I understand that if the market will tolerate cheap crap the market will get cheap crap and, conversely, if the market won't tolerate cheap crap it won't get cheap crap, it is still painful to see it happen, especially in those instances when it really didn't have to happen. Sometimes the market just doesn't care about quality and manufactures legitimately have little choice. But in the case of brands that stood on a reputation for quality that is less likely to be the case and it is more likely to be the case of short-term MBA thinking running a company straight into the crapper.

The company my dad worked for was a shining example of that. The guy that started it built a reputation for quality compressors and also became the DigiKey of the compressor parts world in the region. They stocked lots of parts that seldom sold but when someone wanted that part, they had it and could come pick it up. They had quite a few parts that they only sold every few years. One example I can think of was some gaskets use on most of the compressors used by Denver Public Schools. Every few years (three, I think) their maintenance plan called for them to do a partial teardown of the compressors and part of that was installing new gaskets. Most people never replaced those gaskets, so they were hard to find. But my dad (who was the manager of purchasing and inventory) made sure that they had sufficient stock on hand to do all of their compressors. When DPS hit that maintenance event, they didn't even call anyone else, they simply went down and bought them from my dad's company. Thus they became the first stop place for many business for any of their parts business, not just the hard to find stuff.

But, eventually, the owner turned the business over to his two kids whom he had sent to business school and one of the first things they did was analyze the inventory costs and show how much money they were losing by stocking parts that didn't sell some minimum amount each month. Yes, having those gaskets sitting there for a few years probably tied up a hundred bucks in inventory that could have been being used for something else plus exposed them to a small inventory tax that Denver had (probably still has). Those were hard numbers that their MBA programs taught them how to crunch. But they didn't even attempt to consider how much the effective advertising value of having those gaskets on hand was or how much business they stood to lose if they stopped stocking them. Those weren't things that you could easily put numbers to, and so they were just ignored. Similarly, they showed how having an in-stock rate of over 95% was WAY to high and that the optimal in-stock rate was much lower (something like 70%, if I recall). So they forced changes to the inventory levels that they had just "proven" would make the business so much more profitable and were at a complete loss to explain why, in less than a year, the company's parts business had declined by almost half as customers found other 'first-shop' sources, some of which were in neighboring states. The company effectively folded a few years later.

 

Sears may become the new case study to demonstrate a fairly common phenomenon: A large and successful pioneer company fails to react to a changing market. As a company matures, it settles into running the well-oiled machine. Entrepreneurial expertise that got the business started is gradually minimized as the functional groups take over, the accountants, supply chain managers, property managers and so on. The more successful they are, the more the management becomes specialized and disconnected from the "big picture". By the time shareholders are noticing and worrying about the future of their company, there's no one left in the company with the authority and skill to make the necessary changes. Some react and survive, many do not.

 

Sears may become the new case study to demonstrate a fairly common phenomenon: A large and successful pioneer company fails to react to a changing market. As a company matures, it settles into running the well-oiled machine. Entrepreneurial expertise that got the business started is gradually minimized as the functional groups take over, the accountants, supply chain managers, property managers and so on. The more successful they are, the more the management becomes specialized and disconnected from the "big picture". By the time shareholders are noticing and worrying about the future of their company, there's no one left in the company with the authority and skill to make the necessary changes. Some react and survive, many do not.

I don't know about the specifics of Sears, but many companies, such as Toys-R-Us, might seem to fit into this mold at first blush but the problems that bring many of them down are pretty much unrelated to whether they did or didn't adapt to a changing market. The shining example is the leveraged buyout in which someone borrows insane amounts of money in order to buy a company and now that company is saddled with a huge debt load that it has to service. This can smother a company making it so that it even if it knows exactly what it wants and needs to do to compete in the changing market, it is crippled financially and simply lacks the resources to do it.

 

Sears may become the new case study to demonstrate a fairly common phenomenon: A large and successful pioneer company fails to react to a changing market

Or it could also be seen as what happens when a "hedge fund" takes over the company. https://www.barrons.com/articles/sears-bankruptcya-cautionary-talefor-hedge-fund-managers-1539619499

 

Here's a dumb question: Will the Sears brand survive? Or will it completely disappear?

 

Here's a dumb question: Will the Sears brand survive? Or will it completely disappear?

Probably hard to tell at this point. Bit if it does, it is likely to just be a particular five letter word that someone bought the right to use and have no real connection to anything that was once associated with it.

 

​

Translation:

Sears evades bankruptcy in Mexico.
While in the US Sears filed for bankruptcy
and announced the closure of 142 stores,
in Mexico the chain store keeps expanding.​

 

Here's a dumb question: Will the Sears brand survive? Or will it completely disappear?

Here in the U.S., the Sears brand has been seriously degraded over the years and now that the "bankruptcy" word is attached, it's being knocked down even further. I don't think it has much value anymore. I mean, I'm the target audience - the last generation that grew up admiring Sears - and yet I'm not really attracted to the brand anymore. I still like Craftsman, but that's gone. Most of the other stuff you would get in a Sears store wasn't branded "Sears". Kenmore has a decent reputation but appliances are all made from the same parts anyway.

So, my bet is that the brand will not survive here.

 

Now that Sears is about gone it's time to wait for the 'Next Sears' company's catalog.

https://www.cnbc.com/2018/11/06/amazon-begins-mailing-printed-holiday-toy-catalog.html

Amazon's first-ever printed holiday shopping catalog is here.

Amazon is shipping a holiday toy catalog, titled "A Holiday of Play," to millions of customers starting this month, the company's spokesperson confirmed in an email to CNBC.

 

I still like Craftsman, but that's gone. Most of the other stuff you would get in a Sears store wasn't branded "Sears". Kenmore has a decent reputation but appliances are all made from the same parts anyway.

So, my bet is that the brand will not survive here.

Have noticed recently the ads selling the Craftsman brand tools on TV. So it seems that while Sears is gone, someone will still benefit from their brand names. Though in reality that was all they were in the Sears hey day, brands. The Craftsman or Kenmore or any Sears brand was never made in a factory owned by Sears, just one contracted to put the name on that companies product. Like way back when when Sears sold Henry J cars as Sears.

 

Stanley bought Craftsman and that agreement allowed Sears to continue to use the brand without royalty (I believe) for a couple of years.

I am particular about my tools and some items in the collection are quite old. My first 1/4" electric drill was a Mall -- still works. Anyway, it is hard to keep up with who owns what, so I saved this site: https://toolguyd.com/tool-brands-corporate-affiliations/

Of note, Ryobi and Milwaukee are owned by the same company. That may explain the expansion of Milwaukee into big box stores and decline in its quality.

 

That may explain the expansion of Milwaukee into big box stores and decline in its quality.

Yeah, Milwaukee used to be top quality tools. Now they're only a bit better than DeWalt...

 

Yeah, Milwaukee used to be top quality tools. Now they're only a bit better than DeWalt...

So I'm quite curious -- because I just don't keep up with this stuff and because I would like to start getting some tools again soon -- what are the top quality brands NOW.

Are there ANY that have maintained their quality standards, or has that simply gone the way of the dodo?

 

So I'm quite curious -- because I just don't keep up with this stuff and because I would like to start getting some tools again soon -- what are the top quality brands NOW.

Are there ANY that have maintained their quality standards, or has that simply gone the way of the dodo?

I've been buying some Dewalt (Black and Decker) stuff lately and I've been quite happy with it. Miter saw and table, planer, crow bar. And I have a B&D branded power screwdriver that I love. But I usually don't buy anything unless I can get it at steep discount, so I can't really comment on the relative value. I can say for certain that they're not toys though. Never a problem with any of it.

 

Bosch is good and expensive for hand power tools. There are some common names there like OTC (automotive), Dremel, and Freud (woodworking). Stanley is also good for handtools and some power tools. I have its chopsaw w/ laser sight. That saw seems pretty good; the sight seems to need adjustment more often than I feel it should. For a hand crosscut saw, I shop arond and find something that feels right. For hammers, hatchets, and my axe I have the Estwing w/ leather handle. The most recognizable (to me) names there are Mac, Proto (Used to be great. I just got a Proto, Made in USA torque wrench and love it. It's a "clicker" which I avoided in the past.), Bostich, and Craftsman.

Just saw wayneh's comment. Dewalt isn't that bad either. Black and Decker hit bottom in quality quite awhile, and I have stayed away from it.

 

If I'm spending other peoples money it's usually Milwaukee or usually Makita. Makita still makes quality products in places other than China and their history of outstanding calendars is unrivaled.

 

So I'm quite curious -- because I just don't keep up with this stuff and because I would like to start getting some tools again soon -- what are the top quality brands NOW.

Are there ANY that have maintained their quality standards, or has that simply gone the way of the dodo?

As jpanhalt has just said, stay away from Black & Decker ... as for DeWalt, they're ok, but they're more for home use than for professional use, but that's only my opinion.

Here's an interesting bit: A few years ago, I met a guy who worked directly for DeWalt. He told me that the company re-bids its production contract every two years. That means that DeWalt's actual manufacturer might change every couple of years... it tells you something about the company's quality standards. I'm sure it's pretty good, but I doubt it's anywhere near being excellent.

That being said, I'm partial to Milwawkee's drills, they're about the best you can find in the commercial market. The rest of their tools (like routers and cordless screwdrivers) are pretty good too.

 

I’m not so sure that brand is the only critical factor, that one brand wins every time. I think for any particular item, you still need to do your research and choose the tool that meets your needs.

 

More stores closing.
https://searsholdings.com/docs/110818_store_closing_list.pdf

 

More stores closing.
https://searsholdings.com/docs/110818_store_closing_list.pdf

It's like watching grass grow. You know it is going to happen, but how long can you wait to mow it down? Sears is history.