need to get into Harvard
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 ...
Reminds me of when my husband lost his entire retirement savings at MCI WorldCom. You have to get the money out and put it into a safe place.
Cry me a trail of tears.
Is she going to scalp them?
It does fit with the long-term goals of Democratic Socialists. Legally define a bunch of new priorities for corporations where various “stakeholders” (the employees, the environment, etc.) come before actual investors in the pecking order.
They don't. My concern would be whether they were paid for the time they actually worked. They have no other claim on the company, unlike, say, the creditors and shareholders.
It’s true. It’s not 1910 anymore. Sears should have stepped up and learn about the changing world around them. And it makes me sad because my grandfather worked for Sears for decades.
the claim is certain people in Toys R Us structure in past year or so took large payments and left. ( I do not know details)
They want severance pay of 2 weeks for 1 year worked and then 1 additional week for every 2 years after that.
Last Spring Booker & Menendez had a press show outside a NJ store.
Oh look, a squirrel. This story is nothing more than a way to distract people from talking more about the DNA test.
How can anyone take a news story about her seriously, ever again? I just laugh, when I see her name!
Toys R Us went bankrupt and Warren wants the venture capitalists to pay? Sorry, Senator Squaw SpeakingBull, but the former employees can get jobs, since there are more jobs available than people for them.
Preferred bond holders really got screwed
The forked tongue Senator is still a rock star to the radical low-information parasite progressives.
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