Listen Now: Bankruptcy For Sears?

Sears Canada closed its doors about January 12th, 2018. In California, we've lost fedco, fedmart, gemco, Montgomery Ward , Robinson, May Company, Robinsons-May and now we're going to do Sears probably by the end of the year. You can't blame it all on Walmart but they were a big contributing factor as well as the internet. I used to go to the Sears in Buena Park California. This huge store had a huge mechanics Bay to take care of all your mechanical needs. Some of you I'm sure grew up in Orange County remember the store. This store may still be open but I doubt it'll be open for long.

Did any of you work in retail before joining the military? Back in the 1980s, I worked at the federal employees Distribution Company also known as fedco. Fedco was one of the first membership discount stores. Some of you I know here used to be a member. The membership was only $5 yes. Originally was set up by federal employees who hated being gouged on prices it was the first mini version of Costco. The company was in business from 1947 to about 1999 when it filed for bankruptcy. Prior to Walmart coming into California in the early 90s, Fedco was the place to be. I worked in the camera, television and VCR departments. I used to behave as a sometimes bad sales representative by puttiing on a recorded tape of Apocalypse Now to Asian customers showing the destruction of that Ride of the Valkyries air assault destruction of the Village by the beach by comparing the two verses 4 head VCRs using slow motion freeze frame of the attack. I worked back in the day when we still had 35 mm film. VHS or beta was what choices you had. I work there part-time from 1980 to 1988 and I worked all summers. The former Sears Tower in Chicago is still one of the biggest buildings in the United States. Sears stock went from $5 a share to $0.37 a share in the last year.