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While Sears executives get $25 million in bonuses, laid-off workers struggle during Christmastime
Key Excerpts from Article on Website of NBC News
Posted: December 23rd, 2018
https://www.nbcnews.com/news/us-news/while-sears-executives-...
While the executives who presided over the bankruptcy of Sears and Kmart will ring out 2018 with news of $25.3 million in bonuses, laid-off worker Ondrea Patrick will be using her unemployment check to pay for new brakes on her 2000 Dodge Durango. Patrick, who lost her job when the Kmart she worked at in Rockford, Illinois, closed in October, had been hoping to use the money to buy her kids ... something new for Christmas. Theyll be getting hand-me-downs and relying on charity this Christmas while the people in charge are handsomely rewarded. Those top people and (Sears CEO Eddie) Lampert are having a wonderful Christmas, Patrick [said]. They got $25 million in bonuses. Me? Im late on my bills. The electric company is threatening to shut me off. And I dont have anything left to spend on the kids this Christmas. Patrick, who worked part-time for Kmart for nine years, is one of the thousands of workers whose lives were upended in October when Sears Holdings ... declared bankruptcy. A U.S. bankruptcy court judge allowed Sears Holdings to hand out the bonuses after the company successfully argued that it would lose its top people if theres nothing in their stockings this Christmas. Meanwhile, Patricks former co-worker Sheila Brewer, 47, has cancelled Christmas for herself and her husband. The eight weeks of severance she was supposed to get ended after four weeks when the bankruptcy court stopped the rest of the payments to laid-off Sears Holdings workers.
Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and income inequality.
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