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Why is this surprising, or a news story? "Sears" is not some sentient being that decided to do this independent of the execs. "Sears" is literally the execs.
by artursapek 8y ago
Why is this surprising, or a news story? "Sears" is not some sentient being that decided to do this independent of the execs. "Sears" is literally the execs.
- InclinedPlane 8y agoSears is a publicly traded company.
- Spooky23 8y agoSears is a public company. You probably own some fraction of it.
- brianpgordon 8y agoIt hasn't been in the S&P 500 since 2012. In fact it's had Q appended to the ticker and been moved to the OTC market. I doubt he owns some fraction of it.
- rlucas 8y agoIts probably better to say that “Sears” is literally the board who hires the executive leadership. The execs have a lot of discretion but ultimately they are taking their marching orders from the board. In turn the board was supposed to serve the shareholders but, oops, on a BK the shareholders are screwed. So basically the creditors now own the thing. Once you’re in that spot, though, what are you going to do? Fire all levels of management above the store level? It’s not impossible but it would create absurd levels of additional risk and delay.