And of course the main reason it's going out of business is that a bunch of equity pirates took it over, hollowed it out for a quick buck, and then left the overburdened wreck of a zombie company to totter towards its inevitable doom.
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The only winners there are the "consulatants"; the investors they sold it to are also getting wiped out.
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Why doesn’t some philanthropic billionaire buy it and set it up as a co-op for the employees? So they can own it and operate it?
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Billionaires only use philanthropy as a tax-exempt way to further their egos, not to create real economic alternatives.
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Get to work Ro. Draft a bill protecting pensions for workers.
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The Toys R Us hourly employees don’t have a pension plan. They are left with nothing
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The vulture capitalists that took over Toys R Us loaded them up with debt, not allowing the chain to update their stores. The same vultures took hundreds of millions out for themselves. This needs to be talked about, as well.
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This is the same exact thing that was done to Mervyn’s Dept stores. They both also owned the majority of their real estate. Guess who will reap the benefits of the real estate selling
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The employees are use to being treated like trash. So sad.
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Need unions.
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