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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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 05/24/2019 11:22 AM
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Pagerow

Posts: 5609
Joined Forum: 12/22/2005

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.

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GOP:

Gaslight
Obstruct
Project
 05/24/2019 11:38 AM
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RiddleMe

Posts: 5810
Joined Forum: 07/21/2011

ffs might as well of made carl ichan treasury secretary. leaches, the lot of them
 05/24/2019 11:47 AM
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Greensleeves

Posts: 20478
Joined Forum: 07/22/2003

Be nice if Mnuchin got Enron-ed but it's white collar crime and he's get 24 months and a tan.
 05/24/2019 12:23 PM
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RustyTruck

Posts: 33298
Joined Forum: 08/02/2004

Originally posted by: RiddleMe

ffs might as well of made carl ichan treasury secretary. leaches, the lot of them




This is literally the same story from my thread on capitalism feeding on itself.


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Capitalism is based on the ridiculous notion that you can enjoy limitless growth in a closed, finite system.

In biology, such behavior of cells is called "cancer".
 05/24/2019 12:28 PM
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tpapablo

Posts: 43826
Joined Forum: 07/25/2003

From what I have gathered, Lambert did screw up that company. I don't think anyone really cares about what those two harpies have to say about Mnunchin. They trash anyone associated with Trump every day of the week. That's old news that everyone ignores, save the prog fools on this website.

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I :heart; Q
 05/24/2019 12:32 PM
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RustyTruck

Posts: 33298
Joined Forum: 08/02/2004

Attack the messenger?

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Capitalism is based on the ridiculous notion that you can enjoy limitless growth in a closed, finite system.

In biology, such behavior of cells is called "cancer".
 05/24/2019 02:20 PM
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tpapablo

Posts: 43826
Joined Forum: 07/25/2003

Originally posted by: RustyTruck Attack the messenger?
Wasn't attacking them. Was pointing out that no one really listens to those loons anymore, except for, perhaps, fellow loons.

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I :heart; Q
 05/24/2019 02:42 PM
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RustyTruck

Posts: 33298
Joined Forum: 08/02/2004

Originally posted by: tpapablo

Originally posted by: RustyTruck

Attack the messenger?



Wasn't attacking them. Was pointing out that no one really listens to those loons anymore, except for, perhaps, fellow loons.


Yet here we are, listening to them and discussing it, so there's that. I would think it's more gentlemanly to argue the substance and not insult them.
I know they do scare a lot of righties, but they make much more sense that the potus.

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Capitalism is based on the ridiculous notion that you can enjoy limitless growth in a closed, finite system.

In biology, such behavior of cells is called "cancer".
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