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Sears is seeking court approval to pay executives as much as million in quarterly bonuses while the company struggles to restructure in bankruptcy.Three top executives could get nearly million each if the company goes out of business. If Sears remains in business, they could get nearly 0,000 each for hitting the top performance targets.Sears filed two different types of bonus plans in bankruptcy court?Thursday. The first is for the top 18 "key" executives, who would collectively get as much as .1 million per quarter. The bonuses would only be paid in full if Sears reaches its cash-flow targets. Sears Holdings, which includes both Sears and Kmart, has been burning through cash at a rate of about 5 million a month.A second retention bonus plan was designed to encourage 322 other unnamed executives to stay put during Sears' reorganization. They would collectively get .9 million a quarter, which works out to an average of about ,000 per quarter per executive. No executive could receive more the 0,000 in bonuses for staying with the company during the bankruptcy process.A judge's approval is needed before the bonuses could be paid. A hearing on the plans is set for December 20.The company wants to retain as many executives as it can, but Sears is laying off employees who staffed?hundreds of stores it is closing. Many hourly workers claim they will not be paid severance.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 0,000 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."Retention bonuses for top executives are not unusual when companies go bankrupt. But bankruptcy law limits how much severance companies can pay.Toys "R" Us won approval for up to million in bonuses for 17 top executives a year ago during its failed attempt to stay in business, despite objections from employees groups and others."It's outrageous that the bankruptcy court is considering bonuses for Sears' high paid executives while laid off employees get their severance pay cut off," said Carrie Gleason, campaign manager for Rise Up Retail, a retail employee advocacy group. "This is exactly what happened at Toys 'R' Us. A handful of executives who couldn't save the company got millions in bonuses while tens of thousands of dedicated employees were denied their promised severance pay." 3581
(AP) — Federal agencies have fallen short of President Donald Trump's goals for making forests and rangelands they oversee less vulnerable to wildfires. Trump set targets in 2018 for measures such as removing dead trees, underbrush and other potentially flammable materials. But government data shows the U.S. Forest Service and the Department of Interior treated just over half of the area the president sought. It was only slightly better than their average annual performance over nearly two decades. Trump has blamed poor state forest management practices for the worsening problem of catastrophic fires in the U.S. West. 633

(CNN) -- Air miles programs should be banned and a levy on frequent flyers implemented in order to reduce carbon emissions from aviation, according to new research.The measure is one of a number of recommendations from Richard Carmichael at Imperial College London, who published a report Thursday on how the UK can meet its target of net-zero carbon emissions by 2050.Carmichael carried out his report for the Committee on Climate Change (CCC), an independent body that advises the UK government, which has previously said the country needed to become carbon-neutral by 2050 in order to fulfill its obligations under the Paris Agreement on climate change.The UK later became the first major economy to legally commit to the target. This report does not represent CCC's recommendations."Flying is a uniquely high-impact activity and is the quickest and cheapest way for a consumer to increase their carbon footprint," the report says.Air miles programs encourage people to take extra flights to keep up their "privileged traveler status" and should be banned, according to the report.So-called "mileage runs" are a common way for travelers to top up their points in order to maintain access to perks such as priority boarding.An air miles levy would be based on the number of miles flown by each passenger, penalizing those who fly the most while leaving the majority of people unaffected.Research shows that 15% of the UK population take 70% of flights, and these travelers -- who tend to be wealthier and less price-sensitive -- would shoulder most of the burden. By way of comparison, 50% of Britons don't fly at all in any one year.The levy would also encourage short-haul flights rather than more damaging long-haul flights, shift demand from planes to trains, and raise money that could be used to fund research into low-carbon aviation technology, the report said."Given the scope for frequent flyers to have carbon footprints many times that of the average UK household, a lack of policy in this area is likely to be increasingly seen as inconsistent and unjust and risks damaging public engagement with climate action," the report reads.While the report pushes for government policies to tackle emissions, private initiatives have already sprung up.Last week, International Airlines Group (IAG) -- which includes British Airways, Aer Lingus and Iberia -- promised to remove or offset all carbon emissions from its fleet of more than 570 aircraft by 2050.IAG said it would replace older aircraft, invest in sustainable jet fuel and develop technology that removes CO2 from the atmosphere.And some employers have signed up to a program that grants extra paid leave for staff who travel by train rather than plane.Climate Perks is an organization that works to encourage people to cut their carbon footprint by traveling by train without sacrificing their vacation time.This story has been updated to clarify the authorship of the report. It was researched and published by Richard Carmichael at Imperial College London for the Committee on Climate Change. 3070
WUHAN, China – Government officials are suspending public transportation in Wuhan, China, in an attempt to stop the spread of the coronavirus that has led to at least 17 deaths, 190
President Donald Trump's top economic adviser Gary Cohn is resigning, the White House announced on Tuesday.Cohn, who had once been rumored as a potential next chief of staff, will leave the White House in the wake of his fierce disagreement with the President's decision to impose tariffs on steel and aluminum imports."Gary has been my chief economic adviser and did a superb job in driving our agenda, helping to deliver historic tax cuts and reforms and unleashing the American economy once again. He is a rare talent, and I thank him for his dedicated service to the American people," Trump said in a statement.The New York Times first reported the news. 677
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