What's killing Sears? Its own retirees, the CEO says

[bucolic_frolic]

3. Karma, Baby, Karma

Shareholders of the old Kmart, pre-2001, got nothing when the chain went bankrupt. Eddie bought it for very little. Retail is like that, if you study the history. Grocers too. So many companies going back to the 1920s, were owned by this or that, and sold to a 3rd party, who stripped it of this and that, and spun it to someone else, and one went bankrupt. Sometimes companies we consider competitors today were merged for a while decades ago! All that wheeling and dealing is about making money for the wheeler-dealers. It's never about the workers. No one says I want to support people in their old age. It's just I want to make a lot of money for me and shareholders and banks. Sometimes, often in fact, workers own shares in the company in their pension plans or privately. THAT can be risky too. Because retail has this up and down cycle.