Sears/KMART CEO blaming retired employees for company's death

[giantsfan2016]

Eddie L. is now blaming the retired employees for the death of the company.

https://money.cnn.com/2018/09/14/news/companies/sears-pension-retirees/index.html

Brammy's thoughts: Eddie L. is just like other idiots who want to blame someone else for their problems.

[NJxxJon]

Marc, ITS YOUR FAULT THAT I LIVE MY frickin stuffTY LIFE HOW DARE!

[danfifepsu]

Eddie L. is now blaming the retired employees for the death of the company.

https://money.cnn.com/2018/09/14/news/companies/sears-pension-retirees/index.html

Brammy's thoughts: Eddie L. is just like other idiots who want to blame someone else for their problems.

I dont believe Eddie. Its they have underinvested in their stores to where they may as well cut their losses and move on. I didnt even see any Halloween stuff at Kmart recently.

[retailisking]

Eddie L. is now blaming the retired employees for the death of the company.

https://money.cnn.com/2018/09/14/news/companies/sears-pension-retirees/index.html

Brammy's thoughts: Eddie L. is just like other idiots who want to blame someone else for their problems.

It's a stretch to say that Fast Eddie is blaming retirees for Sears' woes, but clearly the PBGC has a hand in determining the company's fate, and that is a consequence of the company's pension liabilities. CNN went for a sensational headline, only to bury the less salacious details later in the story.

[TheFugitive]

The fact of the matter is that for every company that still has a defined benefit pension plan the cost of retired employees is "dead weight" on the balance sheet that affects the current company's ability to remain profitable.  My brother is an actuary and he deals with this stuff all the time.   It is why very few private sector companies offer such pension plans anymore (and why you have to wait so danged long to catch a bus in Pittsburgh....the Port Authority is spending more to pay their retirees to sit at home than to actually operate the current transit system).