Bill Jones, director of the Canadian Federation of Pensioners, says Sears is another example of a broken, or partially broken, pension promise. He points to the billions of dollars Sears Canada has been sending to majority shareholder Edward Lampert, chairman of Sears Holdings Corp., while failing to put money in the pension fund against the deficit. As a result, “all the people who are Sears pensioners or are going to become pensioners if they’re active employees
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Mnuchin, who had never worked in politics, served as finance chairman for part of Trump's campaign and helped create Trump's proposal to overhaul the tax code.
Mnuchin and Sears Holdings CEO Edward Lampert were once roommates at Yale. Mnuchin cut his chops on Wall Street, at New York investment bank Goldman Sachs and then at his own private equity fund.
The beauty of this whole story is that his college buddy Munchin is the U.S Treasurer Secretary
Friends in high places!
Yet theirs still people that think Eddie is helping Sears he is going to transform it LOL. This guy is going to end up screwing us all in the end he is going to be the big winner along with his buddies. I am telling you if you are offered being demoted (part time etc) take the severance and call it quits At this point in time your basically risking severance pay that wont be when this company goes BK
Business vampires.
Another skewed system where the pension oversight rules have no teeth.