Thread regarding Sears layoffs

Another loan from Eddie to Sears. FULLY SECURED!

See news release in sears website on late Friday. Up to 500 million secured loan from Eddie's fund to Sears. Also sold some property.

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| 1771 views | | 8 replies (last July 9, 2017) | Reply
Post ID: @OP+OaLJrGU

8 replies (most recent on top)

@OaLJrGU-1xle - the wage questions may not be legal in YOUR area - check your local & state regs

Options for Responding

Applicants have several options for responding:

  • Provide salary information (the easy solution)

  • Refuse to supply such information on the grounds of confidentiality or legality

  • Provide total compensation information without specifying the salary component

  • Provide salary and mention plus bonus without specifying that component

  • Place dashes on applications to show that you saw the question but decline to comply

There are arguments both for and against each of these strategies, but candidates often wonder if employers will be able to verify any past salary information which they supply.

The complex answer is maybe. However, the simple advice is that it is very dangerous to falsify such information since it can be grounds for withdrawing an offer or for dismissal after you've been hired.

Another important factor is that if you decline to tell the prospective employer how you much you made, you could knock yourself out of contention for the job. The employer doesn't have to continue the hiring process if you don't comply with the request.

What Employers Ask for as Proof of Salary

Some employers will ask candidates for proof of past salary such as W2s. Others will conduct background investigations which might cast doubt on any inflated salary figures or outright disprove them. It is relatively easy for employers to figure typical salaries by reviewing industry salary surveys and online resources.

If the salary you give the company is out of line with industry standards, the company will be more likely to ask for proof of how much you made at your last job.

What You Can Do

It is fair game for you to ask employers for the typical range of salaries for comparable positions at their firm or for what they have budgeted if you disclose your salary.

This will give you a chance to make the case, based on your credentials, as to why you should be placed in the upper range of the company's salary structure.

Alternatively, if you are overqualified, it will give you an opportunity to explain why you would be willing to take a lower paid job.

Salary Information

Candidates often have to deal with employer requests for salary history either on job applications or during salary negotiations after successful interviews.

However, in some locations it is illegal for employers to ask so you may want to consider state or city laws in your area prior to responding. States and cities that have passed statutes prohibiting employer inquiries have done so on the grounds that such questions can impact pay equity. Woman often have historically lower salaries than males for similar jobs, in part due to discrimination. Progressive cities and states believe that establishing future compensation based on these artificially lower salaries will only perpetuate wage inequity.

Massachusetts and New York City have passed laws prohibiting employer questions about salary history effective July 1, 2018 and November 2017, respectively. New Orleans, Philadelphia and Pittsburgh have passed similar laws that are already in effect. New York State has banned such questions in the screening process for employees in state agencies and the legislature is considering a ban for private employers in the state.

California has a weaker statute indicating that "Prior salary alone shall not, by itself, justify any disparity in compensation."

According to the National Conference of State Legislatures many other states are considering legislation including Connecticut, Delaware, Georgia, Iowa, Idaho, Illinois, Maryland, Maine, Mississippi, Montana, North Carolina, New Jersey, Oregon, Rhode Island, Texas, Virginia, Pennsylvania, Vermont and Washington.

On the federal level, democrats have introduced a bill banning salary history questions. This proposed legislation has been stalled in committee so far.

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Post ID: @1cum+OaLJrGU

So now he has added ANOTHER billion dollars of debt that probably will never be paid off...GREAT

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Post ID: @1zem+OaLJrGU

Every employment market is different but around here it makes me look crazy to be working for Sears. That and the wages that I accepted from them for the work I do. My fault. I take responsibility. I'd been fooled by the former family atmosphere at our store. Just felt comfortable and I liked my job.

I'm looking for a new job and so far no luck. I'm trying to get out of retail but I have gone on 2 retail job interviews. The hourly wage comes up and the interviewer takes my low wage as a negative factor. Before someone jumps in, maybe I am a horrible interviewee too.

Anyway, this is in answer to the person below who said we should be grateful to Eddie because we need Sears. In my case NO. I would be grateful to be laid off with unemployment and the OPPORTUNITY to take the training available to me through my state if my large employer closes.

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Post ID: @1xle+OaLJrGU

this is ANOTHER 500 mill loan

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Post ID: @dsd+OaLJrGU

Is this in addition to another 500 million loan that was taken out or is this the same loan in question?

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Post ID: @cha+OaLJrGU

To be honest there's nothing else he can do. And of course he's gonna make the deal so he can get his money back...who wouldn't? Sears would be 100 percent screwed this holiday season without that loan....now, sears is probably only 90% screwed. You guys should send him heart felt emails thanking him for dragging the existence of your jobs along for another couple of months because they should have absolutely been gone by now.

Let's be real here. If you're still working there at this point it's because you desperately need sears to survive for one reason or another even if you hate what you have to put up with, right? Otherwise you would have left.

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Post ID: @ero+OaLJrGU

at 8% interest or larger with fees too.

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Post ID: @gor+OaLJrGU

Secured, of course, with Fast Eddie as the lien holder so when Sears goes belly up he still gets his money.

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Post ID: @pkc+OaLJrGU

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