The former CEO of Sears describes his career and the transformation of the company from a troubled, confused corporation with a Soviet-style bureaucracy faced with huge losses in 1992, to its 1997 battle with aggressive new competitors and the ethics of new business, to its current status as a healthy company dealing with the new economy. 35,000 first printing.
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Arthur C. Martinez was chairman and CEO of Sears, Roebuck and Company from 1995 to 2000 and chairman and CEO of its retail arm, Sears Merchandise Group from 1992 to 1995. Prior to Sears, he was vice chairman at Saks Fifth Avenue, where he worked in various senior positions for 12 years. <br><br>Charles Madigan is the Sunday perspective editor of the <i>Chicago Tribune</i> and a <i>Tribune</i> senior writer. He is also coauthor of the business bestseller <b>Dangerous Company</b>, and he collaborated on <b>Lessons from the Heart of American Business</b> by Gerald Greenwald, former chairman and CEO of United Airlines.
er part of a century, Sears, Roebuck and Company touched the lives of almost everyone in America. A stunning tale of marketing and savvy, the company started selling watches and quickly became an essential source of goods for the American home. Sears brought the Christmas dreams of distant children to life; introduced the American homemaker to a collection of appliances that stripped much of the drudgery from daily living; and put solid, dependable tools in the hands of strong, eager men. At the same time, it forged a solid relationship with its customers, earning that most valuable business asset of them all: loyalty.<br><br>And then, when it could least afford to, Sears lost its way. It gradually forgot about its customers. It no longer understood (or cared) who its competitors were. It shifted its focus inward, to the interests and needs of its huge bureaucracy, all at the expense of the customers who found themselves in declining, dismal stores. The greatest retailer in world history had bec
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