Posted on 10/17/2018 11:37:04 AM PDT by Oldeconomybuyer
Tens of thousands workers laid off when Toys R Us went bust last year have a politically powerful new ally in their fight to win severance from the bankrupt retailer: Sen. Elizabeth Warren.
The Massachusetts Democrat, who is rumored to be weighing a run for the White House in 2020, is pressing the financial firms behind the decision to liquidate Toys R Us to contribute to a fund for affected employees.
"The liquidation of Toys R Us -- reportedly at the urging of your firm -- caused more than 30,000 American workers to lose their jobs without the severance they would otherwise receive," Warren wrote Tuesday in a letter to Steven Roth, CEO of Vornado, which had an ownership stake in the retailer. "I strongly urge you to participate in discussions about financing a viable hardship fund for the affected families."
In a similar letter sent to five large holders of Toys R Us debt, Warren asked if the creditors had rejected potential acquisition offers for the company.
(Excerpt) Read more at cbsnews.com ...
Warren is a very unimpressive person.
“Is pressing the financial firms behind the decision to liquidate Toys R Us to contribute to a fund for affected employees. “
Uh, why?
They didnt know they would be able to save the place. They closed, and everyone was let go.
All of these people in this economy should have found work by now.
Put away war-drums, Minnehawhaw.
If the company went bankrupt and out of business, there’s no money to set up such a fund is there?
Assuming everything was done legally regarding the bankruptcy and liquidation process, what exactly is her beef? Employees always lose their jobs when a company goes under.
A defunct chain that for decades ran with employees who wouldn’t give a customer the time of day even if the customer came and stood right there in front of them is typically the sort of cause Psychogewea takes up.
Exactly. There are millions of unfilled jobs out there right now. I’m sure there are more than a few in retail.
power to do what? Write angry letters? Hold pow-wows? The “power” of a US Senator lies in his or her ability tog get legislation passed and Warren is so toxic that she can’t do that anymore, at least not in a republican congress. Her one legislative accomplishment, the CFPB, was defanged and forced into executive oversight by the Supreme Court and Mick Mulvaney has all but defunded it since he got put in charge of it. Warren is just as much of a powerless failure as a senator as she as a human being.
And she’s awful free with other people’s money.
Would this be... the War Path? I’ve heard that is big with American Indians.
Someone please tell me how Toys R Us former employees have any claim at all to “severance pay”?
The company failed to adjust to changing markets and stuck to their over-priced, poorly run model - finally burring the company in debt and ineptitude. Some of those employees were part of the problem.
Sorry - but I just don’t see a grounds for any claim... Warren is just pandering.
The personification of a fool
#MeSouix
#Microhontas
Toys’R’Us didn’t have to go bankrupt. Amazon didn’t kill them, the financial group that bought them loaded them up with debt and it blew up. Kind of like how the Sears CEO is deliberately doing nothing to rescue Sears but bleed every last penny he can out of its assets.
Warren is still an idiot, but there is plenty of shady practices that may be legal but morally dubious.
This is was the Dimms have allowed themselves to become? All of those employees found new jobs in the Trump economy. Sorry if this was Obama, they all would still be looking for work a year later. And if there are a few still looking for work, they might be the ones that were part of the problem as to why Toys R Us went belly up in the first place.
Pocahontas needs a real job.
Eddie Lampert is picking Sears’ corpse the same way TRU’s “investors” did. He even tried to buy the Kenmore brand name off the chain so that he personally owned it.
“Show me with this doll where she touched you...”
is pressing the financial firms behind the decision to liquidate Toys R Us to contribute to a fund for affected employee
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That already exists. It’s called unemployment compensation and was funded by employers like Toys R Us.
In other news, Fauxcahontas goes to bat for workers at the buggy whip factory.
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