Craftsmans famous lifetime warranty in question after $900 million sale

[pstokely]

Source: Yahoo Finance

Since the brand was introduced by Sears in 1927, Craftsman hand tools have a famous warranty, lifetime and unlimited. Legend held that scavengers used to scour for old beat-up and broken Craftsman wrenches in the trash, and would bring the damaged tools manufactured half a century or more earlier to a local Sears (SHLD) store.

When they walked out, in hand would be a shiny new wrench—or sometimes a rebuilt one with someone else’s initials still scratched in. No receipts or proof of purchase were necessary to get a replacement or a free repair. They’d then go flip that cold steel for cold cash. In a way, Craftsman tools, enabled by their generous guarantee, were cash.

“We used to have people go looking for Craftsman tools at old garage sales,” one former employee posted on Reddit. “Or from little old ladies who still had some in storage and return them for brand new [tools], then turn around and sell them as new.”

But the long-popular choice for home tools may have its status as currency thrown up in the air. After 90 years, Sears announced Thursday that it would sell the Craftsman brand to Stanley Black & Decker (SWK) for $900 million to raise cash it needs, as Sears weathers store closings and declining revenue. Sears will continue to sell Craftsman products – which include everything from wrenches to floor jacks – for 15 years without restriction. After that period, it will pay 3% royalties to Stanley Black & Decker, which sells its own line of tools as well as other brands.



Read more: http://finance.yahoo.com/news/craftmans-famous-lifetime-warranty-in-question-after-900-million-sale-202603636.html

[Bengus81]

1. LOL...sounds like a lot of work to make a buck

What's more interesting is the former Sears mechanic employee who invented the socket wrench in his spare time and how Sears screwed him. But he later got nearly $9 million out of them in court battles.

Sears sucks period..................

[retrowire]

5. Hey I learned something today! Thanks! nt

[madokie]

12. He didn't invent the socket wrench

he came up with the button that releases the socket from the ratchet. The rub was he was an employee of sears and mostly developed it on company time.

[Bengus81]

18. I see that...just the quick release button part of the wrench but it was developed on his own time.

He was a 18 year old clerk at Sears,it would have been a little hard to do the tooling and other things to make that quick release work while standing behind a counter. But most corporations would claim that when there are millions of $$ on the line.

If that was Sears defense even the SC didn't buy Sears claim.

[PoliticAverse]

27. What was at issue in the court cases was whether the patent issued to the inventor was valid or not.

A jury originally found Sears liable for violating the patent, Sears challenged the validity of the patent on appeal.

http://articles.latimes.com/1986-07-14/business/fi-19337_1_wrench-case/3

Eventually both parties reached a financial settlement ending the court battles.

[liberal N proud]

2. Legendary guarantee by a legendary company

It is a shame what greed has done to these things.

[bigworld]

3. .... does anyone really think Sears will still be around in 15 years?

"Sears will continue to sell Craftsman products – which include everything from wrenches to floor jacks – for 15 years without restriction. After that period, it will pay 3% royalties to Stanley Black & Decker, which sells its own line of tools as well as other brands."

[pstokely]

8. will Sears even be around in 6 months?

will tRump make Sears great again?

[rgbecker]

4. I'm 69 and bought my first Craftsman rachet wrench when in High School.

I've traded it in twice during my career as a car mechanic and I can say they continue to be my tool of choice.

Sears has just completed their suicide by selling off their one product that has a flawless reputation.

[Roy Rolling]

6. Not quite there

But the same story. Lifetime warranty AND excellent quality. I just pitched my 40-year old toolbox which had spent a few days underwater from Hurricane Katrina. It lasted 11 years more than the levees. LOL

[MrModerate]

7. How is it that Craftsman has a good reputation . . . ?

Every one of their products I've ever bought has been either defective or inferior. Were they ever any good?

[madokie]

10. This is the first

I've ever read of someone saying what you said. I've never heard anyone in real life bitch about a craftsman mechanic tool. Not one time. In fact I'd say that half or more of the mechanics in this country uses craftsman, sockets, ratchets and wrenches. If I was a betting man I'd bet good money on that too.

[MrModerate]

11. Their forged tools are fine . . .

But I've had 2-3 Craftsman power tools over the years and they were all deficient.

[madokie]

14. I don't even buy that argument, sorry

maybe you got a defective tool at some point but I even find that hard to believe.

[pintobean]

37. Their power tools are low end

and priced as such. They're fine for a home owner who might use them a few times a month, but they don't cut it in professional applications.

[NBachers]

20. I had my Craftsman cordless drill in a bucket. The bucket filled with water, drowning the drill.

It spent a couple of days underwater. I pulled it out and set it aside, figuring it was wrecked. A few weeks later, curious, I charged up the battery and pulled the trigger to see if it worked. Sure enough, it cranked right up. I checked it out 2 says ago, and it's still with me.

My brother has several '70's era Craftsman bench tools. He recently sold a radial arm saw of that vintage; it worked fine, and he had no problem selling it.

[NickB79]

15. I've heard it more and more over the last decade as well

My mother in law has used them for 30 years, and was just bitching about their decline in quality at Thanksgiving.

[politicat]

19. I agree with Mr Moderate -- I'm no fan of Craftsman power tools.

I'm a small woman who has been doing fairly serious mechanical and construction work since I was in middle school. One parent's an engineer, other is a project manager, I grew up on construction sites. Then I started in theater, it and then DIY became a major hobby. I have no interest in doing the work professionally, but I'm generally happier with my own work than what I pay others to do. I like good tools, and I do not have the mass to brute-force anything, so everything I do relies on precision and leverage and using mechanical advantage.

My grandfather bought me my first well-stocked hand-tool box of Craftsman tools when I was in early high school, then drills, saws, sander...

I still have all of the drop-forged hand-tools and use them. I like the open-ended and box wrenches and socket sets; I've liked the chisels and rasps, but I admit I am more likely to use a router/bandsaw/biscuit than to carve out my own mortises because time. I go back and forth on the screwdrivers, and at this point prefer my drivers to have interchangeable bits because I hate straight and I'm not such a fan of Phillips (there are better drive formats). I love my 5.5 ounce hammer, to the point that I don't let anyone else touch it. Ever. Anything electrical or battery? Eh. It's gone. I've found better quality, better ergonomics, better precision, better life-time of the tool from other vendors. I spent my late 20s and early 30s with Makita; now I prefer Bosch.

Remember that part about me not having the mass to brute-force? That applies to tools, too. Craftsman electrics used to be extremely heavy, and the more likely to amputate a finger or cause a severe tissue injury, the more heavy and unwieldy they seemed to be. The first time I used a Makita cordless was a revelation -- lighter, more control, better precision, more intuitive controls, better safety. I'd rather replace a Bosch jigsaw every 10 years and be able to safely use it, than have one that's got a lifetime warranty, weighs 6 pounds more, and has no safety.

And don't you dare say that I shouldn't be mechanical or just be stronger or bigger. To start with, that's sexist as hell, and secondly, brute force leads to long-term body damage and short-term injuries (I have rebuilt three kitchens from studs and subfloor out, without any injury beyond a bruise or two; that is extremely rare) and third, we want young people -- who have smaller hands and bodies and are developing their skills -- to be mechanically and make-inclined. Nobody is born with 220 pounds of muscle. A tool that is too heavy, too hard to control or unintuitive is not a tool. It's a paperweight.

[Mosby]

23. most power tools are made in china et al

I just fried a Hitachi driver I paid 100 bucks for by drilling too many holes for little tapcons ffs.

Bought a new brushless Milwaukee, amazing power. Still made in China though. Even HILTI is China made now.

[politicat]

31. The problem is not necessarily made in China -- they can have high quality manufacturing,

While American manufacturing has had examples of low-quality and prone to failure, too. (There's a reason that the Big 3 auto manufacturers had such a terrible reputation for a couple decades. They earned it. NUMMI and what brought NUMMI into existence, for example.) Neither culture is functionally superior in their ability to make things, and hagiography of American manufacturing doesn't help. (Which is not to say I have much good to say about low wage, low safety international manufacturing, regardless of quality. It doesn't matter if any place can make a perfect tool if the cost of that tool is a blackened sky.)

It's a structural economic problem because we reward quarterly profits over anything else. There are companies that make decisions to include quality in their performance metrics, and those companies survive longer, have significantly higher customer satisfaction, and ultimately make more money. But if short-term is the only metric, quality control is a drag on profits.

[MrModerate]

24. Or worse than a paperweight, a deadly weapon. This is a diversion from the topic, but . . .

I'm a former safety professional (among other things) and what bugged me and my peers is that we could have exemplary jobsite safety protocols, training and equipment -- and the guys would follow them religiously -- and then they'd go home, buy a tool they'd never touched before, fire 'er up, and within a few seconds have cut off one hand and most of their face (I use the graphic example because it's based on a true incident).

They would do at home (working at heights without fall protection, removing safety guards for convenience, using ladders and scaffolding "creatively", etc., etc.) that they'd never think of doing at work.

So good tools really matter, but so do knowledge, skill, and a healthy helping of respect for how easily a power tool could wreck your whole life.

[politicat]

29. OMG, yes.

I have no idea why that behavior perpetuates, but damn. (That's all over the technical theater world, too, and wow, is it gendered. To the point that I just will not work for most male tech directors. They take too many risks. Like hanging lights during an aftershock swarm without checking the harnesses.)

My grandfather taught me tool and workspace safety when I was in elementary school. He had been a master electrician for one of the auto plants, so I got his union professional level safety training -- which meant he made lots of loud splatty noises when I put my hands in the wrong place on the (unplugged) tool, or zap sounds when I got the circuit wrong. Also, very graphic stories of what happens if I do that thing. Start early, start honest.

I know my limits -- there are some tools I just will not use, because there's no way I -- extremely left-handed, small -- can use them safely. I wish more people would recognize their own limits. It's not a commentary on knowledge or aptitude or stuffiness to recognize limitations.

[madokie]

9. I like my Craftsman mechanic tools

and if possible won't buy anything else. I've never broken a craftsman tool nor have I had one that I bought new need to be replaces. I do admit to buying a couple that were rusted up from whatever at garage sales and turn them in for new ones, no questions asked. I have spent a ton of money on craftsman mechanic tools over the years. The only tool they sell I don't care for is their cordless drills.

[Doug.Goodall]

13. It could have been worse

Sears could have sold the "Craftsman" brand name to Harbor Freight.

[nolabels]

28. Harbor Freight has a better a better buy in warranty than Craftsman

I tried to return a battery charger after i had bought a warranty and found it was defective. I couldn't even bring it back to the store even though it was almost brand new. They told me i had do all these things in sending it back in a parcel post and letting them examine it to make sure it was defective and or not abused or such. Then after all that time had passed (while i was without the tool) would then give a credit which i would only be able to use in their stores. Most the tools are good but that part about them is not. I then decided to just buy a new charger and very thoroughly told them to stick that extended warranty sales job into a place where the sun don't shine.

Harbor Freight just exchanges the stuff in the store (like Sears once did) and has a buy in program for power tools with the exchange being a no questions asked (customers in the store will brag about how good it is if that's a hint).

[MichMan]

16. Not everyone wants to trade in the old ones

the majority of the tools I have purchased in my lifetime are Craftsman and they have served me very well. It is not an elite brand like Snap On, Mac, Cornwell or the other traveling tool trucks that the professionals prefer, but a well made upper mid grade consumer grade tool with a great reputation. Like everything else, production on many items has shifted from American manufacturers to China angering many of their loyal customers.

I know quite a few people who think because of that, Craftsman quality has gone downhill the last dozen years and prefer the older "beat up" tools.

I did read that the lifetime guarantee would continue, but time will tell. There were a certain umber of people trying to game the system by abusing tools like using screwdrivers as pry bars and then demanding new when they were "broke", as well as finding some nasty old tool by the side of the road and demanding new because it was rusty.

[NWCorona]

21. I have tools that my father had and they still work great

Some of the new stuff I bought in the last few years not so much.

I have bought used damaged Craftsman tools from garage sales and traded them in for new. I was always honest and told them they are second hand and never had a problem exchanging them out. That's why I loved Craftsman. They stood by their products.

[randr]

17. Time to gather all my broken Craftman tools and return them

[Quackers]

22. It was reported the other day that the lifetime warranty would stay in place.

"A Sears spokesman confirmed the unlimited lifetime warranty on Craftsman hand tools made in the U.S.a hallmark of the brand for generations will be kept in place."

http://www.democraticunderground.com/10141656254

[Akoto]

25. My grandfather was a Navy mechanic and continued after ...

He absolutely loved Craftsman tools. Wouldn't work with anything else. He had entire sets of them, in fact. Grandpa was one helluva mechanic, so I'll trust his opinion.

He's probably rolling over in his grave at all of this. It's sad to see the product line toppling when it did, in my experience, produce high quality merchandise and was true to its lifetime guarantee. When I think Craftsman, I think of days in my grandfather's garage.

[underpants]

26. After Jimmy Carter's term ended Sears gave him a complete set of Craftsman tools

Toolboxes and everything.

[Brother Buzz]

32. Carter's White House staff raised money to buy him an elaborate woodworking shop as a parting gift

And was front loaded with Sears power equipment. I don't believe Sears could legally gift him with a workshop.

http://www.wsj.com/articles/SB120252109283355793

[underpants]

33. Okay I remembered it wrong

My stepfather retired from Sears. He wasn't a fan of Carter but as a hobbyist he was envious.

[Brother Buzz]

36. Your stepfather had a right to be envious

I understand it was top of the line Craftsman equipment with a lot of cast iron surfaces. It was light industrial equipment that they phased out decades ago, not that cheesy weekend warrior shit.

[Truth321]

30. One of the 1st things I bought when I moved out on my own was

A set of craftsman sockets and wrenches. They instantly replaced one of the rachets without question. Have had that set nearly 30 years. Made in USA. Good stuff.

[Brother Buzz]

34. My trusty Craftsman socket wrench lasted forty-five years...

and then it started slipping. Shit, I loved that old wrench and despised the feel of the 'New and Improved' socket wrenches Sears was selling. Pissed, and determined, I took my Craftsman snap ring tool to it and disassemble it. The gear and pawls were loaded with gunk. After a through cleaning and a touch of grease, my wrench was as good as new. Heck, it my last another forty-five years before my son needs to service it again (I should leave him a note ).

[Truth321]

35. Awesome!!