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Topic Title: The downfall of Sears Topic Summary: the swamp at work... Created On: 05/24/2019 11:22 AM |
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- Pagerow | - 05/24/2019 11:22 AM |
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- RiddleMe | - 05/24/2019 11:38 AM |
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- RustyTruck | - 05/24/2019 12:23 PM |
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- Greensleeves | - 05/24/2019 11:47 AM |
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- tpapablo | - 05/24/2019 12:28 PM |
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- RustyTruck | - 05/24/2019 12:32 PM |
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- tpapablo | - 05/24/2019 02:20 PM |
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- RustyTruck | - 05/24/2019 02:42 PM |
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 05/24/2019 11:22 AM
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Steve Mnuchin's Role In Sears Downfall
Treasury Secretary Steven Mnuchin, whose role is foster economic growth and job creation, did the opposite as a Sears board member, profiting from the once-mighty retailer's downfall and costing thousands of workers their jobs. ...Mnuchin ...along with college roommate Eddie Lampert, who became CEO of Sears after his hedge fund bought the company and merged it with Kmart. The lawmakers accused the two billionaires of plundering Sears for their own personal gains. Last month, Sears Holdings sued Lampert, his hedge fund ESL Investments, Mnuchin and other major shareholders, alleging they stripped Sears of billions in assets for themselves, beyond the reach of creditors, before the bankruptcy. And the grand finale! The lawmakers say Lampert sucked about $6 billion in assets from Sears while closing stores and firing more than a quarter-million workers. He sold Sears real estate to himself and rented the property back to Sears at prices he set. In February, he purchased some of Sears' most valuable remaining assets, including DieHard and Kenmore brands, in a bankruptcy auction. ------------------------- GOP: Gaslight Obstruct Project |
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National Enquirer (FORMERLY NSR)
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The downfall of Sears
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