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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/KGTV) — The U.S. Navy is expected to honor a World War II hero when a new aircraft carrier is named for Mess Attendant 2nd Class Doris Miller. "Dorie" Miller enlisted in September 1939 as a Mess Attendant Third Class. He was recognized for manning a machine gun on the USS West Virginia and returning fire against Japanese planes during the Dec. 7, 1941, attack on Pearl Harbor. He then helped rescue injured sailors as ship evacuations were ordered. Miller was awarded the Navy Cross for valor for his actions, the first African American to receive the award.This will be the second ship named after Miller and the first aircraft carrier ever named after an African American.“In selecting this name, we honor the contributions of all our enlisted ranks, past and present, men and women, of every race, religion and background,” said Acting Secretary of the Navy Thomas Modly. “Dr. Martin Luther King, Jr. observed, ‘Everybody can be great - because anybody can serve’. No one understands the importance and true meaning of service than those who have volunteered to put the needs of others above themselves.”Miller served aboard the USS Indianapolis from December 1941 to May 1943, before being assigned to the escort carrier Liscome Bay. He died while serving on a ship that was torpedoed by a Japanese submarine in November 1943, during the invasion of the Gilbert Islands. 1388
"At DoorDash, we take the safety of our community extremely seriously. We sincerely regret that this incident fell short of the experience we strive to give our customers every day. While we can't comment on active litigation, we have taken appropriate actions including deactivating the Dasher from our platform for failing to follow and maintain our code of conduct." 377
Workers at a restaurant in Ohio refused to complete a catering order for troopers from the Ohio State Highway Patrol amid civil unrest over the death of George Floyd. The restaurant chain, Condado Tacos, closed its Columbus-area locations on Tuesday after workers accused the restaurant of firing them for not completing the order. Columbus has had its share of unrest since Thursday night, when protesters broke out the windows to a number of downtown businesses and government buildings.According to the restaurant, one of its restaurants received a catering order that was placed by the Ohio Highway Patrol, with a number of workers refusing to fulfill the order. The restaurant said that management communicated that workers who were uncomfortable with completing the order did not have to work on the order. The restaurant said that a few employees chose not to finish their shifts, and that no one will lose their jobs as a result of Monday’s incident. “Condado was built as a place for everyone, without judgment or fear,” the restaurant said in a statement. “A place where originality and being unique are embraced. We are also a family that cares for and about each other. From the first day we opened our doors, we have included all people as employees and as guests in the Condado world. We want to be clear that we stand against racism – always have and always will.”The decision to close on Tuesday affected six locations. It is unclear when the restaurants will reopen.An employee told 1512
An Air Force veteran racked up millions more dollars on his fundraising page for President Donald Trump's U.S.-Mexico border wall, but it remained unclear Friday how the U.S. government would get the money.Brian Kolfage's GoFundMe page has raised more than million as of Friday afternoon to build the wall, whose funding was threatening a partial government shutdown. The crowdfunding page, which was launched less than a week ago, has a goal of billion.In a statement on the page, Kolfage assured contributors that the fundraiser was not a scam and that he had contacted the Trump administration about how to deliver the money.White House officials did not immediately return an email seeking comment Friday.RELATED: Counter GoFundMe wants to buy 'ladders to get over Trump's wall,' but it's not actually for laddersCitizens can mail money as "gifts to the United States," according to the U.S. Treasury Department. But it's not clear whether the Department of Homeland Security can accept gifts.Kolfage of Miramar Beach, Florida, wrote that donors would get a refund if the fundraising goal isn't met. The page has brought attention to Kolfage, a triple amputee who was wounded in the Iraq War in 2004, and his social media history. NBC News reported that Kolfage operated a Facebook page called "Right Wing News" and sites that promoted conspiracy theories. He told the news outlet that he didn't mention the page because he "didn't want it to be a distraction." "That shouldn't be the focus. My personal issues have nothing to do with building the wall," Kolfage said.He told The Associated Press in an email Thursday that he worked on "Right Wing News" but the rest of NBC's story "is not true." Kolfage did not respond Friday to multiple requests for comment from the AP. 1793