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Sears Bankruptcy Engineered to Benefit Executives and Stiff Workers

Summary:
Executives of Sears stand to gain up to million in bonuses, should Sears be liquidated, and 0,000 if it’s restructured. Meanwhile, ordinary workers at Sears are being laid off without severance payments. NEP’s Bill Black appears on the Real News Network and talks about how US bankruptcy law is rigged to favor executives. You can view with transcript here. [embedded content] [Translate]

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Executives of Sears stand to gain up to $1 million in bonuses, should Sears be liquidated, and $500,000 if it’s restructured. Meanwhile, ordinary workers at Sears are being laid off without severance payments. NEP’s Bill Black appears on the Real News Network and talks about how US bankruptcy law is rigged to favor executives. You can view with transcript here.

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