Au contraire, Posty my friend. The bankruptcy of Sears was not an unfortunate accident or a case of being run over by the changing times. This was a premeditated murder of a company that was going to have to hustle hard to begin with.Originally Posted by BarryBobPosthole
These are not fools they are unscrupulous thieves.
The goal was to steal the money that would have otherwise been tied up in real estate and pensions. It was accomplished all above board and legally which just goes to show you how rigged the financial system has become. None of this should be legal. Nor was it until we changed all of the laws over the last 40 years.
In essence you take over a company and pay yourself outrageous "consulting fees" to help "reorganize" it. You sell off the assets and pay yourself handsome fees to facilitate it. Load up the company with debt that allows them to pay you more exorbitant fees. Then you sell back your stake in the now debt laden company and walk off to allow it to go under.
It has been going on for decades now. How in the hell this is still legal baffles me. I think it is because some forms of thievery don't fit into a 30 second sound bite.
Will
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