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'This Is Not Ok': Sears Condemned for Ending Retirees' Life Insurance After Handing Executives $25 Million in Bonuses

'This Is Not Ok': Sears Condemned for Ending Retirees' Life Insurance After Handing Executives $25 Million in Bonuses

Jake Johnson, staff writer

The retail giant Sears came under fire Saturday following reports that the company is ending life insurance benefits for an undisclosed number of its 90,000 retirees—just months after handing executives over $25 million in bonuses.

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Sears belongs to a capital venture vulture that piled on his other debts so when he took Sears to bankruptcy, he could eliminate all his debts. Then he offered to ‘buy’ Sears out of bankruptcy … which then would have no debts. It is likely the bankruptcy court will approve the deal. These sweet deals are only available to crooks that paid the politicians to create ‘sweet deals’. No others need apply.

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A Judge needs to set a presidence that Corportations can not be allowed to steal money from their Employees. If they do not, this will continue. A line must be drawn.

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This has been going on since the 80’s. Ever see “Wall Street” with Michael Douglas?

It should be illegal, but you may have noticed that NEITHER Party had done much to stop it. So Far.

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Quit voting for Republicans is an easy first start.

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Quit voting for Democrats immediately after.

"People, Planet, and Peace Before Profit."

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As Ralph Nader says… both parties spend their spare time “Dialing for Dollars”

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to oblivion This is what hedge funds do. They strip a once-great company of everything they can, and also squeeze as much as they can from their workers, all to make a few vulture capitalists richer. To add insult to injury, they pay a loower tax rate than their
workers.

Hedge funds do nothing positive at all for the economy or the society. They should be legislated into oblivion.

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So SEARS is pulling a Mitt Romney… of course … absolutely to be expected … I keep forgetting that Sears is sears holdings

mom & pop mail order comes of age as predator in the 21st century

OK which civil rights group will form up a class action suit against SEARS?

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Perhaps when a large business like this files bankruptcy, they are done. The government buys out the company, takes care of employees,(not the CEO, and the government could run the business as a military type PX. Then liquidate as needed or wanted.

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Yup, back to the old usage of the Sears catalogue. The outhouse.

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Time to bring back drawing and quartering for these bums, but in particular, on television for Eddie Lampert.
That b… is now actually buying it back? After first stripping Sears, then making himself the biggest creditor so he gets paid first when he took them to bankruptcy and now is BUYING IT BACK???
That is even outdoes the endlessly despicable Carl Icahn.
That even taxes my abilities to be cynical and I’ve gotten pretty cynical about these criminals (and that is about the nicest possible description for them. I’m not sure our language even has enough vile words to describe Lampert and cronies.
Sears was a bit behind the times but it remained a great store, even as Lampert began stipping it. High-quality goods from tools to clothes. Lampert even sold off the legendary Craftsman line of tools with their famous lifetime guarantees.
And along with that to gut the lives of hundreds of thousands of employees and now even pensions.
I’m against capitol punishment but in this case, I can at least imagine that grand old drawing and quartering. Even that is too good for them.

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. . . and Korporations limited in size / monopolies broken up.  But fat chance of anything decent hap­pening while Wall Street fat cats own “our” Congress.

Where is Teddy Roosevelt now that we REALLY need him?

. . . along with all the crooked politicians who passed the laws making this crap possible.  That’s 99 and 44/100 percent of Congress – House AND Senate, plus the Presidunces who signed the bills into law – for the past four decades at least.  The remains from their drawing & quartering can be used to produce Soylent Brown Dog Food.   (Brown, not Green, due to the high fecal content.)

…Not voting Dem in a Fed election will guarantee that the GOP can steal it. It is still, unfortunately a TWO party system…

The winner of the Fed election has already been selected and it won’t be by you or me or any of us commoners.

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…As per your exclamation…“Boy, I say boy, you are exceeding the limitations of my medication” Foghorn Leghorn

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If someone with a clear head would just look at the US economy, they would realize that all US business and small employers should be regulated to offer no health insurance, no pension, and no life insurance. They must offer a living wage and any perks on top of that can include more money, more vacation, or contributions to a fund that cannot be controlled by them in any way. This solves two problems: a) companies going under and failing to meet obligations, b) people who for whatever reason can’t stay at the some job as long as other people being unfairly disadvantaged.

We need Medicare for All as soon as possible. This means rallying behind candidates that will try to make it happen (Bernie and maybe Tulsi or Elizabeth though unfortunately both of them have a hard time speaking truth about the private insurance companies). I have yet to be convinced that any of the rest are even possibly going to back it strongly, but I’ll see how the topic is treated in the debates.

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Agree, and with your list and assessment. None of the Status Quo “Centrist” crowd EVER will truly get behind those points. We’ll get lip service, talk is cheap, read Clinton’s, Obama, Schumer, Pelosi, Biden etc etc etc. Hell the current crowd is spewing republican talking points: “ACCESS to healthcare” and Medicare for America (puke). I will never : Blue No matter Who again because most of them are lying about who they are.

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Respectfully Lorenzo, it’s a TWO-PARTY system because 95 to 97% of the voting electorate choose it to be.

Nothing more, nothing less.

Choosing corrupt, warmongering political parties to rule you is their choice.

Not mine.

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Brilliant idea G.