Replies

When they bought KMart , I was like, why? Talk about spending good money on usually risky and dubious merger, and that is if Kmart was not the piece of crap it was

38 posted on 05/31/2018 4:05:51 PM PDT by JudgemAll (Democrats Fed. job-security Whorocracy & hate:hypocrites must be gay like us or be tested/crucified)

Actually it was K-Mart which purchased Sears. They did it right after being released from bankruptcy.

41 posted on 05/31/2018 4:08:16 PM PDT by yarddog

When they bought KMart , I was like, why? Talk about spending good money on usually risky and dubious merger, and that is if Kmart was not the piece of crap it was

KMart bought out Sears. Even though the actual deal was the other way around in regards to who ran what, Sears was bought out so the corporation could shed itself of retirement issues and take some of the current 401K money.

Yes, Federal law allows for the gutting of 401Ks in a buyout and the funds, including the employee contributions, are considered corporation assets.

My sister was screwed twice while working for Sears for 30 years due to the buyouts.

55 posted on 05/31/2018 4:44:49 PM PDT by OldMissileer (Atlas, Titan, Minuteman, PK. Winners of the Cold War)

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