Thread regarding Sears layoffs

An Open Letter to Judge Robert Drain

Your Honor, you blew it big time. You allowed former Sears CEO Eddie Lampert-and his corporate attorneys- to sweet talk you into saving "45,00 jobs. "

You fell for it, hook, line and sinker. You, yes you, are 100% responsible for this retail fiasco to continue when you could have liquidated the company. The only people who made bank were the corporate law firms charging over $1,000 an hour for their services. Come to think of it! Since I'm going to lose my job in mid-December maybe I should work for a law firm.

Thousands of jobs lost because of your inept court decision is on your hands, Judge Drain. Sears and Kmart employees will remember this for the rest of their lives.

Sears Holdings filed a lawsuit against Lampert for alleged theft of assets of the company which led to its bankruptcy. We are talking about possible criminal activity within the company. We demand answers-now!

Drag Lampert into your courtroom and put him under oath. Was his intent to save jobs a sham to continue to raid the company of its assets? Don't allow him to hide behind his attorneys. You owe this to the thousands of employees who were victims of this fiasco.

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Post ID: @OP+10REvDk7

4 replies (most recent on top)

Judge Drain had to consider the interests a number of stakeholders such as creditors (including the vendor community) and employees. If there was even a small chance of a post-bankruptcy Sears/Kmart succeeding, the judge had to take that into consideration. Naturally, total liquidation would have provided greater recovery for creditors, but employees would have gotten little or nothing.

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Post ID: @1rtz+10REvDk7

Yes, because you know damn well most of the employees aren't out looking for another job. They're just sitting there wishing that a miracle will happen and things will magically "turn around".

WAKE UP.

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Post ID: @1vxn+10REvDk7

So, you’re saying a better outcome would have been to have closed up shop 9 months ago and not have those 9 months of paychecks, 9 months to search for another job, etc? I’m glad Judge Drain gave us this extra time, however long it lasts.

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Post ID: @zns+10REvDk7

When you own a company, you can do whatever you want with it...including breaking it up and selling off the pieces.

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Post ID: @nvm+10REvDk7

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