I don't know much about the downfall of IH, but Sears was pretty much all corporate malfeasance(or just plain stupidity). Everyone saw online sales coming. Sears saw it too, but the people that ran Sears thought they were 'too big to fail'. It could have been reversed in the first 3-4 years, but the CEO just hung on, and hung on to a failing plan.
As a kid, you could order almost anything from Sears. It was the Amazon of catalog shopping. I recall a catalog with almost 1000 pages in it! Craftsman tools, Silvertone guitars and amps, Lalique crystal, Kenmore appliances. Heck, at one time Sears even sold the Ercoupe 2 seat airplane!
But, they got complacent. No one was better at being Sears than Sears. Then, they told you that you can't use any CC except a Sears card! What?! Are you insane? I'm not going to use my Visa, or MC, or Discover? ONLY Sears car or cash? I left $275 worth of merchandise on the register table and drove right over to Target. Easy-peasy.
Sears has no one to blame but themselves. Target grew up, K-mart, and Walmart grew up right in the face of Sears. Then E-bay, Amazon grew up and still Sears wouldn't change. They went down in flames by their own hand. Retail is not a game for amateurs, and Sears was run by idiots right into the ground.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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