Quote:
Originally Posted by maytag
all of this in context, they (Stanley, or whomever else has ownership now) should've bought the company and rebranded it. That's the most common practice for someone buying a company with liabilities. And yes, any promise made by the acquired company is, in fact, a liability. I deal with this all the time in my business. Yes, it sucks to acquire a brand / business with undisclosed liabilities (Craftsman's warranty wasn't "undisclosed" though) but most companies are made-up of good people who will move heaven and earth to honor those commitments. This proves itself to be the absolute BEST thing they can do, from a marketing perspective, because people know it sucks, but they honor it anyway: Instant Brand Loyalty.
Here's MY problem with Craftsman, though. (Not too dissimilar from what you said too, JFP)
The ONLY thing Craftsman has had going for it in a very long time is the lifetime swap-out warranty. Their tools form anytime since about 1985 are just junk. Sure, it's nice to know you can take it in and trade it.... but what about when the failure happens at 7pm on a saturday at the racetrack? Or while you're laying under a car bench-pressing a transmission into place? a tool that is junk isn't worth having, regardless of how easy the warranty process is.
Just my $0.02
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Stanley only wanted the brand identify when they bought Craftsman, they knew the tool line had gone to junk, but people still remembered the name, which has value. Once they had the name, the expanded their existing tool line (which was somewhat limited) into a full line of mechanics tools and tool boxes, none of which were holdovers from the Sears days, and started to re-enter the market via outlets like Lowes and Ace Hardware, where Stanley already had footing. They will probably do a good job over time, but it is early innings just yet.
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