Private equity was always a catastrophically destructive grift. Just ask employees of the Olive Garden, Toys R Us or Sears. And PE's expansion into health care was terrible even before the pandemic. But man, has PE's toxic nature been revealed by the crisis. 1/
Steel is going for the new ShopRite in Wall, and plans are moving along to replace a Sears'>Middletown Sears with the popular supermarket shain.
Hedge fund billionaire Eddie Lampert reaped huge profits while destroying the jobs of 250,000 people. This is what a rigged economy looks like. I stand with Sears and K-Mart workers all over the country who are fighting back.
I’m going to miss Sears. Especially on those days when you just want to buy a suit, a carpet, an air conditioner, a lawn mower, a foundation garment, an air hockey table and a tractor.
Sears wants to give its executives $25 million in bonuses after closing over 100 stores and laying off thousands of employees. My friends, this is what a rigged economy is all about. (with )
Let me get this straight: Sears has $25 million laying around to pay out executives who ran the company into the ground, but doesn't have any money to give the thousands of workers they laid off severance pay?
What I want to know is: if Sears has $25 million to give bonuses to executives, why is the company telling laid off employees they don't have the money to pay their severance?