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Just did a little checking.
So these matching contributions are in current year's dollars, not future dollars after the employee leaves.
- Facebook does not have a pension plan. It matches the first 7% of employee 401K contributions.
- Google does not have a pension plan. It matches greater of 100% of a participant's 401K contribution up to $3,000 or 50% of a participant’s contribution up to $8,750
- Amazon does not have a pension plan. It matches up to 4% of a participant's 401K contribution
That's how you stay competitive in an intensely competitive global business environment.
The golden goose is dead.... from company's to blue States it's time to pay the Piper .
What's killing Sears? Its own retirees, the CEO says
What's to blame for the problems at Sears? Amazon? Bad management?
CEO and primary shareholder Eddie Lampert has another idea: It's the company's own retirees.
Sears turned in another bleak quarterly earnings report on Thursday, and Lampert complained about the billions of dollars that Sears owes its former employees through pension plans.
Lampert said Sears has paid almost $2 billion into pension plans in the past five years, and $4.5 billion since Sears and Kmart merged in 2005 to form Sears Holdings (SHLD). The company pays retirees about $300 million a year, filings show.
If Sears could have put that money into operations, "we would have been in a better position to compete with other large retail companies, many of which don't have large pension plans," Lampert wrote in a blog post.
.
Sears made and operated the pension plans. It’s their own fault for not anticipating the cash flow issues ahead. And yea, Amazon is also kicking their ass, because while they were ignoring the brewing shortage of funds, they were also not updating their business model and become a retail dinosaur. They’re dead, but just like missing the pension issue and the changing retail climate, they have also missed their own funeral.
Sears, like other companies ignored online retail growth until it was to late.
A lack of vision killed Sears.
They could have, as well as other box store retailers could have taken on the Amazon model at the very beginning, and would be competing with Amazon right now.
Sears had the long time branding associated with it's name. If anybody should have, they should have been the ones with the marketing vision to be the online giant retailer long ahead of Amazon.
For those not old enough, company paid pensions were the long term norm for retirees of large corporations until that all changed with the Reagan administration. You can google anyone of a number of articles that accurately describes how that administration single handedly destroyed the middle class of America, and who's policies are the main driving force of income inequality today.
Took years for Reagan’s policies to take effectThe golden goose is dead.... from company's to blue States it's time to pay the Piper .
What's killing Sears? Its own retirees, the CEO says
What's to blame for the problems at Sears? Amazon? Bad management?
CEO and primary shareholder Eddie Lampert has another idea: It's the company's own retirees.
Sears turned in another bleak quarterly earnings report on Thursday, and Lampert complained about the billions of dollars that Sears owes its former employees through pension plans.
Lampert said Sears has paid almost $2 billion into pension plans in the past five years, and $4.5 billion since Sears and Kmart merged in 2005 to form Sears Holdings (SHLD). The company pays retirees about $300 million a year, filings show.
If Sears could have put that money into operations, "we would have been in a better position to compete with other large retail companies, many of which don't have large pension plans," Lampert wrote in a blog post.
.
Sears made and operated the pension plans. It’s their own fault for not anticipating the cash flow issues ahead. And yea, Amazon is also kicking their ass, because while they were ignoring the brewing shortage of funds, they were also not updating their business model and become a retail dinosaur. They’re dead, but just like missing the pension issue and the changing retail climate, they have also missed their own funeral.
Sears, like other companies ignored online retail growth until it was to late.
A lack of vision killed Sears.
They could have, as well as other box store retailers could have taken on the Amazon model at the very beginning, and would be competing with Amazon right now.
Sears had the long time branding associated with it's name. If anybody should have, they should have been the ones with the marketing vision to be the online giant retailer long ahead of Amazon.
For those not old enough, company paid pensions were the long term norm for retirees of large corporations until that all changed with the Reagan administration. You can google anyone of a number of articles that accurately describes how that administration single handedly destroyed the middle class of America, and who's policies are the main driving force of income inequality today.
Which policies are you referring to? Income inequality grew more under Clinton than it did under Reagan.
Eddie isn’t a conservativeThe Sears corporation is as fault for failing to recognize the coming tidal wave of retirees within the pension plan.
The ones responsible are Sears management; Lampert is wrong to blame anything, or anyone else.
In Conservatopia, it’s always the greedy workers fault.
Workers did their part and worked the agreed upon hours
Now, conservatives want to default on their agreed upon pension
Sears was way ahead of its time. I read the book about them and what they did in creating insurance tire brands tool brands etc. Sears could have been amazon and controlled the world but they took their eye off the ball.At one time, Sears WAS AmazonSears has been sucking long before Amazon beat them down. They tried to maximize profits by cutting service to the customer. They positioned themselves to compete with Walmart and failed miserably.
They dominated catalog sales and sold everything
My grandfather had his house built by Sears
Sears was way ahead of its time. I read the book about them and what they did in creating insurance tire brands tool brands etc. Sears could have been amazon and controlled the world but they took their eye off the ball.
It really is a shame. It’s just like IBMSears was way ahead of its time. I read the book about them and what they did in creating insurance tire brands tool brands etc. Sears could have been amazon and controlled the world but they took their eye off the ball.
They were the Amazon of their day.
Sears used to be reputable and they used to warrantee all of their hand tools. Since performing concrete work is notoriously hard on tape measures, I used to go to Sears to turn in most of my Craftsman tape measures every other week and trade them in for brand new or refurbished tapes. I've also traded in a lot of California framers for new hammers.Sears has been sucking long before Amazon beat them down. They tried to maximize profits by cutting service to the customer. They positioned themselves to compete with Walmart and failed miserably.
A monkey can stock shelvesSo the guy stocking shelves should suck it upCould be because Ceo salaries through the year have proportionately increased greatly over the years as compared to workers. link below.
CEOs make $15.6 million on average—here’s how much their pay has increased compared to yours
Do you know how to do fucking math?
Sears has 90,000 employees...
.
Not the CEO
Prove it
Sears was Amazon for 50 years or moreSears was way ahead of its time. I read the book about them and what they did in creating insurance tire brands tool brands etc. Sears could have been amazon and controlled the world but they took their eye off the ball.At one time, Sears WAS AmazonSears has been sucking long before Amazon beat them down. They tried to maximize profits by cutting service to the customer. They positioned themselves to compete with Walmart and failed miserably.
They dominated catalog sales and sold everything
My grandfather had his house built by Sears
Some even post on USMBA monkey can stock shelvesSo the guy stocking shelves should suck it upCould be because Ceo salaries through the year have proportionately increased greatly over the years as compared to workers. link below.
CEOs make $15.6 million on average—here’s how much their pay has increased compared to yours
Do you know how to do fucking math?
Sears has 90,000 employees...
.
Not the CEO
Prove it
Monkeys can do a lot of minimum wage jobs.
View attachment 216852
I agree. They took their eye off the ball and didn’t take advantage of new technology. They could have been a monster.Sears was Amazon for 50 years or moreSears was way ahead of its time. I read the book about them and what they did in creating insurance tire brands tool brands etc. Sears could have been amazon and controlled the world but they took their eye off the ball.At one time, Sears WAS AmazonSears has been sucking long before Amazon beat them down. They tried to maximize profits by cutting service to the customer. They positioned themselves to compete with Walmart and failed miserably.
They dominated catalog sales and sold everything
My grandfather had his house built by Sears
In rural areas, if your local store didn’t carry it, you went to the Sears Catalog
Sears used to be Christmas, that is where kids picked the toys they wanted
A monkey can stock shelvesSo the guy stocking shelves should suck it upCould be because Ceo salaries through the year have proportionately increased greatly over the years as compared to workers. link below.
CEOs make $15.6 million on average—here’s how much their pay has increased compared to yours
Do you know how to do fucking math?
Sears has 90,000 employees...
.
Not the CEO
Prove it
