Sears and Kmart closings

[EweSheep]

Oh yeah, that lady WAS a nut case! After several "valuable" employees been let go, somehow, somewhere, karma bit her in the butt and she was fired by the management of harassment and sued by two of the ex-employees because it was not true that they didn't do anything to her physically or said anything out of the ordinary. All that said and done, it is pitiful that the company didn't come back to the ex employees, saying sorry we fired you by mistake and you can have your job back. Nope, it never happened.

Believe it or not, it's been happening alot lately and most of the people just don't want to be bothered fighting against the company who has alot of funds they can spend on big named lawyers. They will lose everytime they go against a company like Sears.

Rufus, nicccccce sending that lady to your worst enemy. I often wondered what he said about her LOL!

 

[uncle rico]

KMart? I havn't been in one in years

we do have a Sears but it's basically used as just another entrance into the mall. their craftsman line is ok but that's probably the only positive thing I can think of when it comes to Sears

 

[rufus]

In the matter of sexual harassment, I think companies find it cheaper and easier to just get rid of the accused employee and pay off the complainer. They do what is best for the company; too bad about the dismissed employee.

When we verified employment of former employees, we could only state that they worked for us and give the dates of employment. We could never reveal why the left. There is a lot of liability in that.

The key question we could answer was "is this person eligible for re hire?" The answer always had to be yes or no.

Rufus

 

[EweSheep]

Thought employers can and will revel the fact why that employee left. So far, none of them ever gave any reasons. And as hubby said, they do not have to give you a reason when they fire you. Illinois is "at will" employment state and I find it disturbing that your employer can fire your butt "at will" and you won't be able to collect unemployment.

When I was terminated from my job, I got unemployment even I thought I would not but unemployment office was saying that the employer was in the wrong and illegial to fire me without any prior notices. I can go back and sue them but I told unemployment office it was good that they fired me even it was illegial but it was "time for me to move on" status. Glad for the experience, many years working there but it was getting to be the point of getting stale, bored, dealing with tremedous stress that I "brought home work", trying to figure out the new system, etc.

Never looked back and enjoyed my life as a stay at home, chicken city fancier with side hobbies.

 

[rufus]

I know that just about everyone that was fired from where I worked applied for and got unemployment. Maybe it is different in different states.

The employer's payment toward unemployment insurance was computed as a percentage of the gross payroll. Employee's paid nothing to the system. The employer's rate was determined by the rate of employee turn over. So, supposedly it was to the employer's benefit to keep employees. It didn't seem like that was working very well.

Benefits to the unemployed were determined by their work history. I am not too sure how that worked out. I only took unemployment once in my life, and they only paid me $67 that one time. That was way back in the 1960's.

What worries me is that they keep extending these benefits, just waiting for the economy to get better. They don't realize that all those jobs that went overseas are never coming back. The plants will never re open.

Worse, we will probably lose even more manufacturing jobs. I don't know what the answer to this problem is, but we better find one fast.

Rufus

 

[EweSheep]

That is the scarey part...jobs that will never come back.

And I know that the unemployment rate that the media played isn't all that rosey that the economy is getting better. How many of those people that can not get any more unemployment benefits, finally ended up depended on their spouses, taking on a one income household, or "boomrang" children returning to parents' home simply because they couldn't find jobs at the place they lived at. Did they actually COUNT those people? Guess not!

 

[rufus]

They say things are getting better, but do you really know anyone that got a job?

A lot of US companies are posting good earnings, but it is mostly on stuff made and sold abroad. GM makes and sells more cars in China than the US. I suspect they lose money on cars made here. But with the new government ownership comes some really dubious accounting methods. So who knows for sure?

Just because a company has its incorporation in the US, does not mean it is owned by US citizens. If you look at where the product is made, it probably indicates where the controlling interest of the company lies. Mostly, it seems to be China.

The last depression lasted almost thirteen years, and it took World War II to get people jobs. I don't want to see that happen again. At my age, I am afraid I will never again see a robust economy in the US.

Rufus

 

[rufus]

Well, my favorite restaurant closed. If they couldn't make it now, they for sure couldn't make after the new "Affordable Healthcare" law goes into effect.

I see more stores vacant now, not that I have any money to spend.

The newspaper and television keep saying things are getting better, but I guess they live in a better area than I do.

Rufus

 

[rufus]

I see where Sears executives are saying that they are in great shape. They plan on not only surviving, but thriving in the future.

They are closing out and selling off a lot of their business. I am afraid it is too little too late. Closed stores sell nothing. The company lost $3.14 billion in 2011. This kind of reminds me of that Italian Cruise ship that ran aground off the Italian coast. The ship was sinking and the crew was still setting up the bingo game as water rushed in.

http://finapps.forbes.com/finapps/jsp/finance/compinfo/Ratios.jsp?tkr=shld

Time will tell.

Rufus

 

[EweSheep]

You are right, Sears is going under slowly.......so is Kmart.

Their stock shares, does not look good either. I am not sure where they got their sources that they are doing so well. Maybe they didn't want to face the truth!

many times when I walk the mall, Sears is deader than a doornail. Hardly ANYONE in there except people looking for certain parts. Employees are fewer and farther in between stations. Noticed the store investory is getting smaller, more space in the isles. Plenty of clearance room for carts too!

People aren't buying....only the seasonal stuff sells.