Sears screws its retirees so its CEOs can have more

In February, the roughly 40,000 people still employed at Sears learned they continue to have jobs, at least for awhile, after a bankruptcy judge approved Eddie Lampert's bid to buy what remains of the retailer out of bankruptcy. But this month, an undisclosed number of Sears' 90,000 retirees learned the retailer had ended their life insurance benefits.

[...]

The notices were sent to "people in their 80s that had had [life insurance coverage for] a long time," said John Freeman, who retired from the retailer in 2002 and leads the retirees' association chapter in upstate New York. Sears had already shaved employee benefits during its decades of financial turmoil, including major cuts to life insurance coverage in the late 1990s. But it still covered life insurance polices worth at least $5,000 for eligible retirees, with most policies ranging from $8,000 to $10,000.

  CBS

The move comes months after a U.S. bankruptcy court approved Sears's request to pay as much as $25.3 million in bonuses to the company’s top executives and high-ranking employees in December.

  The Hill

...but hey, do what you want...you will anyway.

Trump weighs in on Sears bankruptcy

“Sears has been dying for many years,” Trump told reporters as he departed the White House on Monday to inspect hurricane damage in Florida. “It’s been obviously improperly run for many years and it’s a shame.”

  Bloomberg

He's got a lot of nerve weighing in on anyone's bankruptcy being due to mismanagement since he has declared bankruptcy four times.

But let's look at who was on the Sears board mismanaging it, as Trump would have it:

Steven Mnuchin was a member of Sears’s board from 2005 until December 2016, and before that was a director for K-Mart Corp., which was acquired by Sears in 2005.

Yes, THAT Steven Mnuchin. Donald Trump's Secretary of the Treasury.

...but hey, do what you want...you will anyway.