OnePercenter
Gold Member
- Apr 10, 2013
- 23,667
- 1,880
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- Thread starter
- #21
This time pensions. As a grocery chain is dismantled, investors recover their money. Worker pensions are short millions.
As a grocery chain is dismantled, investors recover their money. Worker pensions are short millions.
"MUNCIE, Ind. — Once the Marsh Supermarkets chain began to falter a few years ago, its owner, a private-equity firm, began selling off the vast retail empire, piece by piece. The company sold more than 100 convenience stores. It sold the pharmacies. It closed some of the 115 grocery stores, having previously auctioned off their real estate. Then, in May 2017, the company announced the closure of the remaining 44 stores.
Marsh Supermarkets, founded in 1931, had at last filed for bankruptcy.
“It was a long, slow decline,” said Amy Gerken, formerly an assistant office manager at one of the stores. Sun Capital Partners, the private-equity firm that owned Marsh, “didn’t really know how grocery stores work. We’d joke about them being on a yacht without even knowing what a UPC code is. But they didn’t treat employees right, and since the bankruptcy, everyone is out for their blood.”
The anger arises because although the sell-off allowed Sun Capital and its investors to recover their money and then some, the company entered bankruptcy leaving unpaid more than $80 million in debts to workers’ severance and pensions."
"Last year, Rep. Tim Ryan (D-Ohio) introduced a bill that would give pensions higher priority in bankruptcy payouts. He said that in 2016 alone, 146,000 pensioners overall had seen cuts to their benefits. It did not win passage."
Do to Republicans.
Infantile arguments only prove that you are an infant dude. Try doing some research and you will see what the real cause was for the collapse. That being said the upper level management are certainly guilty of some level of fraud. What do you want to bet that they donated to Dems more than Repubs?
Why do you hate the American Worker? The issue is funding employees equally with investors.
I don't. I actually like them unlike you socialist assholes who want them to be beat down to the lowest common denominator to where there are only two classes of people in this country, the wealthy elite, and the peons.
If you don't hate the American worker, why do you continue to support the Republican party that does hate the American worker?
Because it is the democrat Party that arguably hates the American worker. They insist on letting millions of illegal aliens invade this country and the primary effect of that policy is to artificially lower the average wage of ALL Americans because the employers know they can always get cheapo labor thanks to democrat policy.
Yet Obama went after employers that illegally hired illegal aliens. Has tRump?
Obama Administration Cracks Down on Illegal Immigrants’ Employers
Feds targeting more worksites crack down on undocumented workers – but not their employers