• Sears CEO: Retiree Pensions Killing Us, Not Online Shopping

    2 monthes ago - By Fortune

    E-commerce is often blamed for the woes of brick-and-mortar retailers. But on Thursday, Sears CEO Eddie Lampert cast blame on the company's retirees-specifically, pension plan payouts-for draining company coffers.
    The statements came in a blog post by Lampert in which he outlined that since 2005, Sears has contributed over $4.5 billion to its pension fund. That amount would be significantly lower-and crucially, could go toward funding the company's operations-if federal interest rates had been higher since the 2008 financial crisis.
    “Had the Company been able to employ those billions of...
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