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Kmart Corp. is scheduled to officially emerge from bankruptcy today.

It does so with 600 fewer stores, going to 2,100 to 1,500 units, and 60,000 fewer employees than it had when it went into bankruptcy. It also has $2 billion in financing and very little debt.
KC's View:
It also seems to have no imagination, no store-oriented strategy, and no real plan to energize the employees who will make or break the company's long-term viability.

It has some money, some financial types on the board, and probably a big bonus program in place for top executives.

Excuse our cynicism, but as Kmart leaves bankruptcy protection, somewhere there is a fat lady warming up.