Turley Blog - Veiled RW: Blocks Comments Proving Brick n Mortars Aren't Dinosaurs

[laserhaas]

Professor Turley's Blog - is where I found some awesome Progressives; but the purpose of that realm - is definitely Right Wing agendas. Today, a weekend poster has a story out about "The End of Brick n Mortar Retail". It leads in with SEARS and pic thereof, then goes on and on why box retailers are doomed. The cases in point help make my {racketeering} case for me.

The end of box retail stores theory is ALL Bull {c}hit!
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Here's the various comments that JT's blog refuses to even allow 1 line thereof

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Laser the Liquidator has handled 1000 companies - online and bricks

Outside of COI issues in bankruptcy and racketeering bustout/ bankruptcy rings; this just so happens to be my area of expertise. (Having handled over 1000 scenarios of liquidations, salvages, turnarounds, bankruptcy and bank replevins.

Sears - too - happens to be a particular area of focus.

As for the "END" of brick and mortar - It's all hogwash!

Our eToys.com has much written about it, throughout the past 15 years. It was one of most lauded I.P.O.'s in the country. The stock, starting at 18, soared to $85. Most press entities (possibly fueled by a pump-n-dump scheme of Goldman Sachs misinformation), stipulated eToys was now worth $8 billion.


True story of eToys

Each year, eToys had phenomenal sales growth; but it was NOT making a profit. The (true) profit center of eToys, was the BabyCenter.com division.

------ Online retailing is Mail Order part deux.

Having handled such brick n mortars as Channel Lumber, Ames, Sky City Dept. stores, SEARS Catalog Centers, along with duel online/bricks of NCA Computers, MicroX, Campfields and more, for 3 decades; one gets to see it from all sides.

In 1999 and 2000, I forewarned lenders and vendors to "be careful" of how much credit they extend to "online"/ dot coms. Telling them that mail order companies were being replaced by online retailers (and that such was not - necessarily - a good thing).

Whereas, as an older mail order, you had control of your clients. Who ever mailed you (regularly) had a good chance that disposable income and/or windfall cash flows - would wind up at Clair's etc; because your mailing was upon the buyers coffee table.

In online sales - EVERYONE's catalog - is upon the table!

On top of that the various vendors out there, now have to compete with the likes of Walmart etc., - super low/ high volume transaction mechanisms with State of the Art (Rapistan etc.,) order processing centers.

Additionally - upon the crunch of lower profit margins; there's the high cost of 2 way shipping of returns. (In brick n mortar retail, your customer provides the labor of picking the item, engaging in the payment transaction and hand walks the product back to you - for return.

Such isn't so with online retailing - where customer returns nearly double!

One transaction I handled just prior to eToys, was ToyTime.com that was sold to online retailer Overstock.com (me and Patrick had a war - so to speak - and he lost). Overstock didn't want the open case goods, as it was going to be a nightmare for his processing centers. Where - brick n mortars - would gobble it up with glee. (BTW - I do appreciate how Patrick Byrne & Goldman Sachs are putting on/taking off - the gloves - Often)!
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eToys & Fingerhut

What you don't realize, is pulling a single customer item is cost prohibitive for any warehouse (basically what online retailers are). In eToys, I had this worked out with Fingerhut and/or Scholastic. (BTW - both those scenarios turned out to be nixed; but - such was a result - of federal crimes not of Fingerhut and/or Scholastic's design).

Our plan was to say to all the Toy vendors (Mattel/ Hasbro etc.,) that, with Fingerhut, we can be the Amazon of the Toys industry. SEARS, Walmart, Target, Kmart, Costco ...on and on.... could (online wise) SELL EVERYTHING that existed.

Because it would all be stocked at eToys!

Instead of Walmart, Kmart......... that could not possibly put every item in the world in their warehouse; and deal with individual customer sale nightmares -

they would all be buying via eToys.com/Fingerhut - Amazon pro of Toys sales.

Bain Cap & Goldman Sachs, along with Paul Traub & Ted Deikel;
are the ones who nixed the Fingerhut deal as it went via Petters Ponzi.

But the program would/could work -

IF YOU DIDN"T HAVE ganefs (who can't do regular biz) running the show.
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SEARS

For a background on SEARS - the real story - you have to go back to the Kmart bankruptcy and eToys.

Yours truly had eToys merged with Scholastic - that crooks (ganef's) nixed, by their racketeering schemes. So that eToys, FAO Schwartz and Kay Bee could wind up at Bain Cap (under Toys R Us); once Romney & gang did their "The Learning Company" $3 Billion fraud on Mattel Toys (resulting in 12 million shares of Mattel's stock, to the bandits - who are now "inside" the upper rooms).

The Learning Company merger (by MNAT in Delaware) with Mattel;
happened in 1999.

Then (with Mitt & gang inside) Bain Cap acquired Kay Bee Toys mid-2000.

eToys was then put into bankruptcy on March 7, 2001 (quite possibly not being insolvent at the time). MNAT then falsifies documents (confessed) to become eToys Debtor's counsel (hiding the fact that MNAT is also working for Goldman Sachs and Bain Capital).

Michael Glazer, CEO of Kay Bee, is a Director (now CEO) of Stage Stores that is also in bankruptcy (in Houston TX); and Barry Gold is the director's assistant at Stage Stores who hired Paul Traub's NY law firm (one partner living in Houston).

They all go to eToys with Traub falsifying documents to become eToys creditors counsel and his law firm, with MNAT putting in Traub's secret partner (also confessed) of Barry Gold - shoving yours truly out - so Barry Gold can be post-bankruptcy petition CEO and Confirmed Plan Administrator.

At that time, I was totally unaware - as were many of the creditors - that they were all one big gang (behind the scenes). Debtors counsel and creditors counsel - are required by law - to be diametrically opposed.

But - when they boasted of buying eToys for $5.4 million, yours truly cancelled those sales (as the federal court appointed chief of eToys bankruptcy); and we - instead - caused Bain Cap (Mitt CEO)/ Kay Bee (Glazer CEO) to have to outbid others by tens of millions of dollars.

So - they tossed me out (illegally) and Barry Gold got Mitt his money back.
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Then, Kay Bee CEO Glazer pays himself $18 million (reward) and Bain Capital $83 million; before Kay Bee Toys filed bankruptcy.

MNAT (openly) represents Bain Capital in the $83 million fraud conveyance;
and (believe it or not) Traub is Creditors counsel who asked to prosecute.

Meanwhile, Traub and Barry Gold formed a company to compete (delete) my company of Collateral Logistics Inc; as in April 2001 (after eToys filed bk) - Traub and Barry Gold became co-owners of Asset Disposition Advisors (which was working the Kay Bee case).

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Kmart files bankruptcy - Traub is assigned as shareholders counsel;
all stock holders get stiffed (except for Ron Burkle/ Ralph's).

And Kmart comes out of bankruptcy so strong - it buys SEARS for cash!

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CONCLUSION

Brick n mortar retail will NEVER die - customers need to see/ touch/ smell; and there are other items (eggs, milk, medicine & manure) that simply can't be mailed - or wait to be mailed.

Getting started on how Walmart does engaging in bad faith power pushes to assure it is always pumping profits - is a whole other story itself.

Toys R Us IPO failed - after NY Times "Rigging the IPO Game" story on eToys case came out; because institutional investors are not so easily duped now.

Bain Cap owns FAO Schwartz, Dunkin Donuts, Guitar Centers, Kay Bee, Sports Autority, HCA, Clear Channel, eToys/Toys R Us and on and on

not because it does good business

but - Because - THEY steal (racketeer) cash flows to reinvest.

The business model is perfect. Put monies in, promise more, get your guys "inside" and get rid of those who can't be bought like me. Take out all the cash you can, file bankruptcy and stiff all the creditors.

Rinse, lather, repeat (eToys & Kay Bee in BK multiple times but back to Bain); but it is ALL illegal. Good Bankruptcy Ring Robber Barons - can't compete "Legitimately"! That's the only problem with online v brick n mortar.

All business (if I or another honest guy was at the helm);
are required (in this day n age) to be BOTH brick-n-mortar and online!

Fingerhut is a crime of major proportions;
because Traub, Gold & MNAT settled eToys v Fingerhut

Then Traub (controller of Petters Ponzi as per court Receiver documents);
bought Fingerhut and had the address of 655 Third Ave NY NY

Traub Bonacquist & Fox's home office address!

N'est-ce pas!

[laserhaas]

1. WOW - that's strange. I make a remark to one (Progressive) JT Blogger

and Viola!

My posting above - was retrieved from the censor-bot hell;
and is now posted - upon JT's Blog.

WOW!