Catastrophically Failing

“Leave the SAT alone,” says our first contributor regarding something we reported Friday.

“The [adversity score] experiment will increase the college dropout rate and then the student loan default numbers. If you can’t pass the SAT straight up, maybe you are not college material. After all, not everyone is!

“To give people who are not qualified for college false hope is just plain mean but colleges don’t really care. The colleges will get their money up front even when unqualified students drop out.

“To fail is human, but to catastrophically fail you need help from a liberal with good intentions.”

In response to yesterday’s contributor who wrote this:

“I do thank Bezos for the Washington Post continuing to publish the list of 10,000 lies from Trump since he took office.”

Today’s reader says…

“I hope your contributor means the 10,000 lies the Washington Post publishes ABOUT Trump.”

The reader above punctuated with a smiley-face emoji. Less good-naturedly, a second reader says:

“You had me ‘til the TRUMP comment! You are selling a product; why would you piss off over half of your readers???

“Very dumb!”

Thanks for the feedback. Thing is, we hope to provide a forum for all our readers. We curate — and post — your opinions left, right and center.

Your Rundown for Wednesday, May 29, 2019:

Deadbeat CEO? 

“Former Sears CEO, chairman and shareholder Eddie Lampert is requesting that a federal bankruptcy judge release him from his obligation to compensate former Sears workers, who he had agreed to pay up to $43 million,” reports Yahoo Finance.

The arrangement included Sears employees who were pink-slipped the day Sears declared bankruptcy in October through February — so about five months of severance that was to be paid for through the sale of Sears assets.

[The agreement didn’t, however, apply to the 250,000 employees laid off from 3,500 shuttered Sears stores over the last 15 years.]

“Lampert previously led Sears Holdings but resigned as CEO when the company filed for bankruptcy and then purchased the company’s assets through a new vehicle called Transform Holdco.”

For his part, Lampert claims Sears failed to surrender its assets, including Sears headquarters in Illinois and prepaid inventory. Not only that, Lampert’s legal team accuses Sears of not paying vendors in an effort to shift debt to Transform Holdco.

While the legal wrangling continues, employees are the ones left holding the bag.

“It’s not fair that Eddie Lampert and his friends are walking away with billions and now trying to cheat dedicated employees like me from what we were promised,” says former Sears worker Brenda Urrutia.

Some things never change.

Market Rundown for Wed. May 29, 2019

S&P 500 futures are down 16.5 to 2,788.5.

Oil is down $1.44 per barrel to $57.70.

Gold’s added $4.60 to its price of $1,281.70 per ounce.

Bitcoin is down $22.31 to $8,700.

Have a good day. We’ll catch up tomorrow.

For the Rundown,

Aaron Gentzler

Aaron Gentzler

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Aaron Gentzler

Aaron Gentzler is the publisher of Seven Figure Publishing. He is also the editor of The Rundown and has been with Agora Financial / Seven Figure Publishing since 2005. He's been covering technology and markets for over a decade.

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