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Old 12-27-2018, 06:35 PM   #176
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If they liquidate are all the people pulling Sears pensions fucked?
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Old 12-27-2018, 10:23 PM   #177
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All part of the "Controlled Liquidation" I spoke about a long time ago.

As to the pensions, I pretty sure they are safe. It was one of the first things to sort out with the bankruptcy filing that we had to ensure with the Pension Benefit Gauranty Corp that we would fund it.
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Old 12-28-2018, 01:01 PM   #178
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Jesus, i didn't even know sears employees had pensions. I figured it was all 401k.

Pensions from a big box retailer....anyone that thinks that's sustainable is due for a reality check
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Old 12-28-2018, 01:43 PM   #179
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Pensions ....anyone that thinks they're sustainable is due for a reality check
fixed that for you
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Old 12-28-2018, 02:21 PM   #180
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fixed that for you
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Old 12-28-2018, 02:34 PM   #181
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Neighbor had one from back in the day, cashed it out and ran
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Old 12-28-2018, 08:29 PM   #182
 
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I'll be honest, I am! I make no bones about it.

I posted to a job at Johnson Controls up in Milwaukee last night at 5:19pm (when I got the confirmation back via email). At 6:50pm, I had the rejection email. WTF! I get it was probably an internally filled position and they had to cover legal asses by putting it out there, but at least give it a day or two, stroke my ego and let me think you at least LOOKED at my application/Resume.

I really think having Sears on my Resume is becoming a detriment.
Have you thought about applying for positions at Walmart Home Office? If you were up for relocating (and Northwest Arkansas typically surprises most who visit). I havenít looked to whatís open in a while, but we usually have openings in finance in multiple departments...

In any event, best of luck on the career search!
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Old 12-28-2018, 10:46 PM   #183
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Jesus, i didn't even know sears employees had pensions. I figured it was all 401k.

Pensions from a big box retailer....anyone that thinks that's sustainable is due for a reality check
It is all the old timers that have it. I would wager anyone hired within the last 10 - 15 years isn't eligible. Also there is no (employer matched) 401k here. All benefits like that waved bye-bye a long time ago.

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Have you thought about applying for positions at Walmart Home Office? If you were up for relocating (and Northwest Arkansas typically surprises most who visit). I havenít looked to whatís open in a while, but we usually have openings in finance in multiple departments...

In any event, best of luck on the career search!
I'm done in retail. I'm tired of working like a dog 24/7 because "if a store is open, we have to be working too..." mentality. This is the only place I've worked at where personal time/space means absolutely nothing to anyone.
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Old 01-07-2019, 04:02 PM   #184
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Tomorrow (well, probably LAAATTTEEE tonight), we'll all know and I may be sitting at home with an umbrella drink... NOT!

Liquidator firm has been shored up (Abacus) should the deal fall through.
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Old 01-07-2019, 07:54 PM   #185
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Fingers crossed for you buddy
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Old 01-07-2019, 09:25 PM   #186
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Thanks.

I heard through the grapevine this afternoon, that legal was told to drop everything they were doing and be readily available.
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Old 01-08-2019, 02:24 AM   #187
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Thanks.

I heard through the grapevine this afternoon, that legal was told to drop everything they were doing and be readily available.


What types of opportunities are you looking for?
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Old 01-08-2019, 05:44 AM   #188
 
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I'm done in retail. I'm tired of working like a dog 24/7 because "if a store is open, we have to be working too..." mentality. This is the only place I've worked at where personal time/space means absolutely nothing to anyone.
What kind of hours are you working? Night, weekends, and holidays?

I get that certain positions need to be staffed according to store hours (help desk, front end support, security, etc) but I was thinking at the corporate level it would be closer to bank hours?

I hear Harbor Freight corporate has been hiring. They're opening a new location every 3 days.
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Old 01-08-2019, 10:44 AM   #189
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Yes. I work 24/7. No B.S. Many days I'm on the network (from home) around 6am. I then come in later in the morning and will be here until 8 - 9 at night. Then go home and shove some food down my throat and get right back on the network until I get kicked off around 12:30. The only difference is the weekends I tend to stay home. But there have been times where with many of our large files, where I've just broken down and come in. Now one perk I do have, is that during off-hours, any employee that comes in has to come in through the main lobby entrance. If any of you have been here, we have 5 massive 5 - 6 story buildings in the complex. So the lobby is a mile away from my desk. Years back, I got special security clearance to where I can come in any entrance any time, anywhere in the complex. So essentially I can park in the garage like normal and come in normally.

I worked Thanksgiving (I actually have to come in that morning...), worked Christmas, etc, etc...
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Old 01-08-2019, 10:56 AM   #190
 
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Thatís crazy. Any company Iíve joined Iíve made it clear during the interview I will work hard.... but I need a home life balance as well. With those hours I would be requesting a 300k+ salary. And no Iím not joking. Because at that rate Iíd be single for sure and if you are going to work me like a dog I better have some badass stuff.
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Old 01-08-2019, 10:57 AM   #191
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It is all the old timers that have it. I would wager anyone hired within the last 10 - 15 years isn't eligible. Also there is no (employer matched) 401k here. All benefits like that waved bye-bye a long time ago.



I'm done in retail. I'm tired of working like a dog 24/7 because "if a store is open, we have to be working too..." mentality. This is the only place I've worked at where personal time/space means absolutely nothing to anyone.
Will never work retail again for this reason.
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Old 01-08-2019, 11:04 AM   #192
 
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Agreed as well. Iíve been out of retail since 2012. Best decision ever. Odd that they make you work so much. You would think they would run skeleton crews for those times and either make them volunteer or on a rotation.
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Old 01-08-2019, 11:15 AM   #193
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That’s crazy. Any company I’ve joined I’ve made it clear during the interview I will work hard.... but I need a home life balance as well. With those hours I would be requesting a 300k+ salary. And no I’m not joking. Because at that rate I’d be single for sure and if you are going to work me like a dog I better have some badass stuff.
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Will never work retail again for this reason.
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Agreed as well. I’ve been out of retail since 2012. Best decision ever. Odd that they make you work so much. You would think they would run skeleton crews for those times and either make them volunteer or on a rotation.
I worked for GE before this. One of the biggest, one of the most successful companies in the world, and I never worked like this. Matter of fact, while it was a challenging, hard working job, they'd even say "This shit will still be here Monday... Go HOME!"

The issue here, is you have so many people trying (thinking) that they're making a difference and "Transforming" the company (a key buzzword around here), that they don't realize we FAIL at retail 101 and are worth more being liquidated! That's why they're working so hard.

My Wife does get pissed. She works too, in particular because she's in the medical field, many Saturdays. Of course our kids are involved in every friggen school social activity there is, so last Thursday she quips "Oh, I need you to take Natalie to Cheerleading practice..." I looked at her and said "I fucking can't... I'm working!" She went full tilt "mental"! But WTF am I gonna do? I'm trying to get out... But you don't just press the easy button and BAM I have a new job. She comments all the time that she's really a single mother.
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Old 01-08-2019, 12:15 PM   #194
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sounds terrible man.
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Old 01-08-2019, 12:22 PM   #195
 
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Yes. I work 24/7. No B.S. Many days I'm on the network (from home) around 6am. I then come in later in the morning and will be here until 8 - 9 at night. Then go home and shove some food down my throat and get right back on the network until I get kicked off around 12:30. The only difference is the weekends I tend to stay home. But there have been times where with many of our large files, where I've just broken down and come in. Now one perk I do have, is that during off-hours, any employee that comes in has to come in through the main lobby entrance. If any of you have been here, we have 5 massive 5 - 6 story buildings in the complex. So the lobby is a mile away from my desk. Years back, I got special security clearance to where I can come in any entrance any time, anywhere in the complex. So essentially I can park in the garage like normal and come in normally.

I worked Thanksgiving (I actually have to come in that morning...), worked Christmas, etc, etc...
I feel like most of the middle management to upper management corporate finance jobs have become this. Not quite this bad, but getting close.
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Old 01-08-2019, 12:30 PM   #196
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I'm ok if it's not quite that bad. And again, if this were a successful company, we were rolling in cash, bonuses, promotions, raises, etc were all being doled out routinely, this is a completely different story. I'd be happy to work like a dog. But...
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Old 01-08-2019, 12:41 PM   #197
 
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I'm ok if it's not quite that bad. And again, if this were a successful company, we were rolling in cash, bonuses, promotions, raises, etc were all being doled out routinely, this is a completely different story. I'd be happy to work like a dog. But...
Can still be tough. We're making a ~30% operating margin in the business I'm at...our corporate conglomerate that owns us just makes insane (impossible) financial targets so we operate under failure mode.

They use it so if the conglomerate misses finance guidance (crazy growth promised to the street), they can pull bonuses, raises, stock awards, etc. from the businesses that even performed well....because hey, you missed your target. Bonuses/raises are in March...I don't know if I'll get a 20% cash bonus and a 5% raise, or if it will be $0 and a 1.5% raise with a 10% temporary pay reduction for 2019 (yes, they did that in a record free cash flow year).

I was in a similar boat to the Sears story at Motorola, and its awful no doubt about it. But now even at a company that pretty much prints cash, still sucks lol!

CDW was pretty solid, but I think it was because it was such a young company...but their pay was sub-par.
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Old 01-08-2019, 12:42 PM   #198
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Fuck all of that.

I'm a work life balance guy. I cant do that, no way I would have lasted there....
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Old 01-08-2019, 01:12 PM   #199
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Really in any finance roll, you know you're going to be working a lot. That's just a given. Especially certain times of year. Like year end, tax time, etc...

But here, it's just a matter of "you never get to turn the switch off..." and it's to the point now of sheer mental exhaustion.

Latest news;
https://www.yahoo.com/finance/news/e...0--sector.html
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Old 01-08-2019, 01:25 PM   #200
 
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https://www.cnn.com/2019/01/08/busin...lay/index.html

Quote:
Sears was facing the possibility of shutting down, until it reached an 11th-hour deal Tuesday to stay open, at least for now.

After two long delays at a morning hearing in bankruptcy court, attorneys for Sears announced it had accepted a revised bid from a hedge fund controlled by Eddie Lampert, the chairman and former CEO of Sears. The deal would keep 425 of the stores open.

Lampert's $4.4 billion offer does not complete the sale, but rather starts an auction that is due to be completed on January 14. It is still possible that those wishing to shutdown the company will bid more for the assets than Lampert is offering.

Judge Robert Drain still needs to approve the agreement, but called the deal "a good development."

It gives Sears a chance to survive, which appeared to be slipping way heading into the hearing.
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