Sears retirees may soon lose a big part of their pensions. That’s because company executives invested only minimal amounts in their employees’ pension funds over much of the last decade. But those executives followed the rules, and even acted with government support, at the same time that they distributed billions of dollars to their company’s shareholders. The story of the Sears bankruptcy sheds light on the murky world of corporations and their pension funds revealing how pools of money that are thought to be fully protected, can quickly evaporate with workers potentially losing hundreds of millions of dollars.
Enquête is Radio-Canada’s flagship weekly current affairs program. The show uncovers corruption, crime, and abuse of power in Quebec and Canada
Producer : Gil Shochat
Journalists : Sylvie Fournier, Madeleine Roy
Caméramen: Jean-Pierre Gandin,Richard Marion, Laurent Racine
Sound: Martin R.Thibault
Editors: Charles Bergeron, Sébastien Huot, Bernard Lapointe, Étienne St-Amour
»»» Subscribe to CBC News to watch more videos:
Connect with CBC News Online:
For breaking news, video, audio and in-depth coverage:
Find CBC News on Facebook:
Follow CBC News on Twitter:
For breaking news on Twitter:
Follow CBC News on Instagram:
Download the CBC News app for iOS:
Download the CBC News app for Android:
»»»»»»»»»»»»»»»»»»
For more than 75 years, CBC News has been the source Canadians turn to, to keep them informed about their communities, their country and their world. Through regional and national programming on multiple platforms, including CBC Television, CBC News Network, CBC Radio, CBCNews.ca, mobile and on-demand, CBC News and its internationally recognized team of award-winning journalists deliver the breaking stories, the issues, the analyses and the personalities that matter to Canadians….(read more)
LEARN MORE ABOUT: Retirement Planning
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
Eddie Lampert did not deserve to be a cook at Mcdonalds./
I do not make any threats, nor do I condone or encourage anyone taking matters into their own hands. However, hypothetically speaking, I believe that if Eddie Lampart were to get into a car and go drive over a cliff somewhere, it really would be a better world. Hypothetically speaking.
So basically he came in and stole from the employees.
Eddie Lambert assassinated Sears. Period.
Here are all the remaining non closing Kmart and Sears locations as of 12-1-2021: Kmarts: 1 Key West, Florida; 2 Miami, Florida; 3 Hamilton, Montana; 4 Avenel, New Jersey; 5 Westwood, New Jersey; 6 Bridgehampton, New York; 7 Tauming, Guam; 8 Hato Rey, Puerto Rico; 9 Sunshine Mall in St. Croix, U.S. Virgin Islands; 10 Sunny Isle Shopping Center in St. Croix, U.S. Virgin Islands; 11 Tutu Park Mall in St. Thomas, U.S. Virgin Islands; 12 Lockhart Gardens Shopping Center in St. Thomas, U.S. Virgin Islands Sears: 1 Burbank, California; 2 Concord, California; 3 Stockton, California; 4 Whittier, California; 5 Ft. Lauderdale, Florida; 6 Miami, Florida; 7 Orlando, Florida; 8 Palm Beach Gardens, Florida; 9 Braintree, Massachusetts; 10 Frederick, Maryland; 11 Jersey City, New Jersey; 12 Newburgh, New York; 13 Greensboro, North Carolina; 14 Willow Grove, Pennsylvania; 15 San Juan, Puerto Rico; 16 El Paso, Texas; 17 Tukwila, Washington; 18 Union Gap, Washington. A total of 12 non closing Kmarts (6 in the continental USA) and 18 non closing Sears (17 in the continental USA). Totally separate and thriving companies are Sears Mexico and Kmart Australia
I worked at sears from 1983 till 2018. When i retired. I had just signed my pension papers and was expecting a check for $58,000 lump sump. Not much for 35 years but still alot of money. 2 days after sears filed for bankruptcy. The government came in and took over. I now get $283 a month. Not what i expected. Who can retire with this? I wasted 35 years. My life pretty much
I predicted sears bankruptcy 10 years before they went bankrupt.middle of the game they started change the rules. Government should be taken care the people before companies.they should size sears assets.
Perhaps Eddie Lampert was following the rules of the company, but honestly, he should be tried for his dishonesty and the shakedown of company employees. Shame! The only shareholders should be its employees.
Sears here in Hutchinson Kansas deserved to fold. Their service was horrible. If you got an appointment to get new tires when you got off work they person who was supposed to put them on said 'No I have to many walk in's.' I went to the manager who should have fired him on the spot told him he had to do my car first. I told him and the mechanic I wouldn't allow that bastard to touch my car, and I'll never shop in Sears again. If that was happening in all of the stores it's no wonder they went out of business and they deserved it. As for the employees, I can't feel sorry for them as they created at least part of that problem.
This is why defined benefit pensions are such a bad idea.
vanderbuilt estate
suheil kakish fishtales mate
angie goffreds date
sears and citi group
jody welch brecht and tims stoop
mikes girl in the loupe
Yeah right! GE just did the same thing, froze 20,000+ pension plans, Bail out now!!!!!
Banksters Ponzi Scheme!
It will be nice if I get a pension where I work, but I'm not depending on it. Stockpile gold and silver and hide it away. It is easier to protect it from thieves than it is to protect money in the system from a corrupt system.
Worked there for 5yrs before the fall out they didn’t take care of there customer like they use to I really miss taking care of the customer I was a road tech I truly did my best but thank god something better came along I am about to retire from another place thank god
You can thank Steve Mnuchin who is on board and one of Trumps nominees for the lost pensions he could at crooked deals.
He was greedy and insolent towards the workers of this company.
Plain and simple, buy a run down business, file bankruptcy with nothing to lose
Sears along with Kmart will be no more. Farewell.
https://seekingalpha.com/amp/article/4212884-sears-holdings-chapter-11-will-eddie-lampert-bruce-berkowitz-carl-icahn-make-ggp-2_0
If you want you can sell it to Eddie Lambert and he will take all the cash he is a billionaire anyway
I got $38,000 from expeditetools com and did not have to pay back.
Sears is another jewish "business." They win, gentiles lose. The other jewish "business" giving problem is "Odebrecht" in Brazil. Jnews corporations will never tell you the whole truth. You are in for a long ride. It is up to you to wake up. They run many, many "businesses."
Sears went all downhill in the early 90’s when they killed their once iconic catalog and Wish Book. After this, I couldn’t of cared less about sears. Visiting their stores in the 90’s and 2000’s gave me a feeling of a once great company who’s days were numbered.