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Judd Legum @JuddLegum
, 6 tweets, 3 min read Read on Twitter
1. What's happening at Sears is extraordinary.

The bankrupt company wants to give top execs a $25 million bonus while it stops severance payments for workers.

But it goes so much deeper than that.

popular.info/p/sears-you-ca…
2. Eddie Lampert, the company's CEO from 2015 until October, is a hedge fund kingpin who has systematically neglected the company and then feasted on its rotting carcass.

popular.info/p/sears-you-ca…
3. As the stores fell into disrepair, Lampert sold its most valuable assets to his own hedge fund, ESL. Sears, which has lost $1.9 billion in the last 9 months, pays hundreds of millions per year to Lampert's hedge fund popular.info/p/sears-you-ca…
4. Lampert's hedge fund is also the primary creditor of Sears. But Lampert makes sure his debt is secured through hard assets like real estate. So no matter what happens, he's getting paid.

popular.info/p/sears-you-ca…
5. Now that he's driven the company into the ground, Lampert is trying to purchase the company out of bankruptcy. That way he can start again without pesky obligations like the pension program, which he left underfunded by $1.6 billion popular.info/p/sears-you-ca…
6. For more on Sears, the screwed up American economy, and even some ideas on how to make things better, subscribe to my newsletter, Popular Information.

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More from @JuddLegum see all

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1. Can we talk about @redlobster?

Dozens of corporations stopped advertising on Tucker Carlson after he said immigrants made America "dirtier"

Now Carlson is arguing there's a moral responsibility to pay women less than men.

@redlobster is one of the few corps sticking w/him
@redlobster 2. The president of @redlobster is Salli Setta. She's on the board of the Women's Foodservice Forum (@WFFHQ).

@WFFHQ is dedicated to "galvanizing the Food Industry" to become "one of the first industries to close the gender gap"

Why is @redlobster sticking with Tucker Carlson?
3. Corporations like @redlobster want to develop a reputation for being socially conscious. Its president is devoted to gender equality. Kudos.

But the power of corporations comes from how they use their resources.

More in my newsletter at popular.info
Read 4 tweets
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1. Trump appears edging toward declaring a "national emergency" and attempting to unilaterally build the wall.

This could backfire spectacularly.

Let's review.

popular.info/p/the-authorit…
2. Under the National Emergencies Act of 1976, if Trump declares a national emergency to build the wall, the House could immediately pass a resolution to rescind it.

The Senate would then need to vote on the House's resolution within 18 days.

popular.info/p/the-authorit…
3. So it would require 50 Republican Senators to vote to undermine and subvert their own legislative authority.

This seems unlikely.

On the other hand, Republicans in the Senate have been generally unwilling to stand up to Trump

popular.info/p/the-authorit…
Read 5 tweets
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Trump, according to Schumer, threatened to keep the gov't closed for years unless he gets his wall.

Hundreds of thousands of government employees are not getting paid.

Trump, who has never had to live paycheck-to-paycheck, is oblivious to the cruelty
RELATED: "While federal workers go without pay, senior Trump administration officials are poised to get $10,000 raises" goo.gl/Vv3fV2
"The Government Shutdown Is “Life And Death” For Low-Wage Subcontractors Who Likely Won’t Be Repaid For Lost Time" goo.gl/WJJdhQ
Read 3 tweets

Related threads

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#OSHO

#Understanding is the only objective #rule.

#Observe and #Learn from other #people, make your own rules for your subjective #life. But never #impose your rules on others because ii will be a indirect #violence.
The person who follows #rules everywhere, he will be a #misfit.

He becomes like frozen ice.

#Rules creates #superficial #boundary.
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You are not you actions , you are not your behaviour. These are just on #periphery. You are much #deeper, the #centre. The changes in the periphery can't #bring change in the centre.
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FinTech Wave 1 (08-18) is ending, and Wave 2 (18-> ) is starting. Exciting times ahead. More innovation likely in the next 10 yrs than the previous 80 yrs. I’ve been writing about big shifts, trends, & strategy. So wrapping 2018 with a thread of some selected tweets/posts. (1/n)
2) China is the "FinTech capital of the world.” : - 700M+ mpay users, pymts vol > $15Tn, Alt-lend ~$300bn+. I spent 2016-17 in 🇨🇳 with a ringside view of the size/scale/on-ground realities for the biggest FinTechs. Here’s a long ( 60+ articles) thread:
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Read 13 tweets
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I always get Muslims who tell me that what I am doing/teaching is haram. This is before they even know WHAT I actually do. There is an assumption that if sex is involved, it must be out of bounds. Wrong. Sex is a part of life. Islam makes ample room for these discussions.
Honestly, I call myself ThatBlackMuslimSexLady because that's how folks in the community remember me. But what I actually talk about goes so much 'deeper' than instructions on how to have effective penetrative vaginal sex.
Ask a woman who has been to a retreat or a workshop. We talk about emotional wellness, reproductive health, femininity, fiqh issues...we go there. Sex is just one of the topics. It's an important one but certainly not the solitary focus.
Read 5 tweets
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Hi, Twitter. I know I’ve been quiet today. As you can see, I’m preoccupied with writing something.

I believe in fair warnings, so:
That article originates in this extended Twitter thread of mine that you may (or may not) have already seen -- on my ISIS expertise, and my childhood on the frontlines of all-American Christian terrorism's Abortion Wars in Wichita, Kansas. threadreaderapp.com/thread/1061057…
Writing the full article is taking longer than expected, for some solid, terrifying, and heart-breaking reasons.

The life - and assassination - of Dr. George Tiller is intimately intertwined with both sides of the family into which I was born.
Read 19 tweets
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In my history of consumption class, I teach about #Sears, but what most people don't know is just how radical the catalogue was in the era of #Jim Crow. #twitterstorians
Every time a black southerner went to the local store they were confronted with forced deference to white customers who would be served first.
And the store would be filled with racist caricatures of black people in an effort to sell to white people.
Read 13 tweets
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Top bollinger V-bottomed on $INDU #Dow ... Put your seat belts on, equities about to rip... (Yet another confirmation signal $USDJPY about to run as well)
#Dow Daily: First Posted back in April 🤓 . Took longer than other indices but finally breaking out to ATHs. Updated chart with long term TLs, and although we have decent amount of room to run, #Dowjones is approaching a hard limit soon. #Markets #economy #stocks #SPX
#Dow Daily: $DOW backtested 13MA and bounced aggressively. Upper BB shape indicating strong push upwards to new ATH. Stoichs indicating one more pulse before a deeper pullback #Dowjones is approaching final high soon (purple). #Markets #economy #stocks #SPX
Read 22 tweets

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