Quercki + bankruptcy   2

Bankruptcy law: Joe Biden vs. Elizabeth Warren - Vox
The 20-year argument between Joe Biden and Elizabeth Warren over bankruptcy, explained
A clash over a 2005 bankruptcy bill — and a broader contrast in worldviews.
On a granular level, then, both sides of the Warren/Biden argument can claim that some of their main predictions came true, and both sides agree that the bill had at least some good provisions and some bad ones.

But the larger clash of worldviews is as vital as ever. Biden’s 2020 presidential bid explicitly front-loads Trump and his aberrant behavior, casting the former VP’s aspirations in explicitly restorationist terms — Biden will fix what Trump broke. To Warren, by contrast, the system was broken before she ever entered the Senate and the real fight is to overthrow the nexus of special interest politics that reigned in Washington back while The Apprentice was in its first season.
Elizabeth_Warren  Joe_Biden  bankruptcy  credit  student  loans 
may 2019 by Quercki
Sears seeks OK to pay out $19 million quarterly executive bonuses - CNN
Shelia Brewer, who worked for 17 years as a full-time hourly employee at a Kmart in Rockford Illinois, said the company told her she'd get eight weeks of severance. Instead, she received a letter saying that severance payments were being halted because of the bankruptcy, and she would get only the four weeks of pay she had already received.
"It hit me hard. I was already struggling as it was," she said. She said the bonus plan makes her angry.
"They say we can't get our severance because there's no money, but they're getting bonuses? It's like a slap in the face," she said.
A Sears spokesman declined to comment on the bonus plan or its current severance policy.
Eddie Lampert, the company's primary shareholder and chairman, apparently will not receive a bonus, according to the filing.
The three top executives who were given the responsibility for running the company during its reorganization are in position for the largest bonuses. They are Chief Financial Officer Robert Riecker, Chief Digital Officer Leena Munjal and Gregory Ladley, president of the company's clothing and footwear business.
Each could receive as much as $240,000 a quarter in bonus payments for hitting the maximum cash flow targets. They could receive four times that much if Sears goes out of business, in something the company called an "acceleration event."
Sears  KMart  executive  bonus  oiligarchy  severance  bankruptcy 
november 2018 by Quercki

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