James Adamson Quotations

We've got to stabilize the relationship with Fleming,

Kmart's significant losses and sales decline in the first quarter reflect the many challenges the company faced in the period following our voluntary Chapter 11 filing, ... These challenges included reduced inventory levels as vendors withheld shipments in the early days of the reorganization and reduced store traffic arising from the bankruptcy filing.

Martha has been a terrific partner. I've gotten to know her well of late, ... I can only see her strengthening her relationship with us...I counsel with Martha. She's constantly helping me search out ideas.

While there is still much hard work ahead, we are pleased with the early progress we are making in addressing in-stock levels, customer service and store traffic, ... Nearly all of our vendors have resumed shipments to us and in-stock levels in the stores have improved.

This cost reduction initiative is absolutely critical to our reorganization, ... We had no alternative but to take this action. The company continues to take the steps necessary to return to financial health and regain the confidence of its many stakeholders.

I'm very comfortable with that overall total reduction in risk, and I would not be able to say that there is anything that I can tell that should stop them from going ahead and flying.

I'm very energized but, I also recognize the enormity of our challenge,