It's been more than a dozen years since Sears Holdings (NASDAQ: SHLD) was created through the takeover of Sears by Kmart. Unfortunately, the plan to bolster the ailing chains' profitability through greater scale didn't succeed for very long. Sears Holdings never recovered from the Great Recession, and in recent years, sales have been plunging as the company pays the price for years of underinvestment.Last weekend, Sears Holdings unveiled its latest turnaround initiative, opening a small-format Kmart inside a Sears store in Brooklyn.