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How It Started
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Sears Canada (1952-2017)

  • Thread starter CanadianNational
  • Start date
AlvinofDiaspar said:
No kidding, especially with regards to using it to discharge existing obligations. Perhaps the company should be legally obligated to encumber and transfer severance funds into an independent trust prior to triggering these mechanisms - if not at the point of severance itself.

And of course, who would want to keep working for Sears Canada now on anything beyond a paycheque to paycheque basis?

AoD
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And who'd provide any loan or financial product to an employed Sears Canada employee? This is disgusting.
 
Get Lampert as far away as possible. Sears Canada might have a smaller future as a TJ Maxx/Winners-equivalent, but not if he interferes with it.
 
The thing is, the current Chairman of Sears Canada (Brandon Stranzl) is essentially Lampert's protege and they are very similar to each other in the sense that both know absolutely nothing about the retail business and their "strengths" come from dealing with stocks.

He doesnt speak out against Lampert, because Lampert is the main reason why he's the Chairman of Sears Canada. If Uncle Eddie is interested in getting back into Sears Canada, there's really nothing from stopping that from happening.
 
It just gets worse and worse.

If the comments on its social media feeds are any indication, Sears Canada is alienating its remaining customer base with these actions. Does not bode well for Sears' future prospects.
 
Skeezix said:
It just gets worse and worse.

If the comments on its social media feeds are any indication, Sears Canada is alienating its remaining customer base with these actions. Does not bode well for Sears' future prospects.
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I wish it'd just die right now instead of letting Eddie paying his games out.

AoD
 
Skeezix said:
I feel the same, but then think of the thousands of employees remaining. Of course, those employees might not have jobs for all that much longer anyway.
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After this episode, I am not sure how much faith they should put into the expectation that their last few paycheques will come out alright.

AoD
 
Skeezix said:
Can Sears Canada justify those ugly retention bonuses?
Joe Castaldo, Maclean's, 14 July 2017
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Anand adds that company directors are obliged to act in the best interests of the corporation as a whole. “The decisions regarding incentives to retain management have likely been made with that overarching duty in mind,” she says. So while the prospects for Sears Canada are fairly bleak no matter what, the hope is that offering more money for key players to stick around will prevent the most dire outcome
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The miracle preachers are ridiculous. The patient is already dead. Paying more money for the key players just translates into less for those who will have to fight for the scraps (with the least means to do so) at the end after the organs are harvested.

AoD
 
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