Sears will now pay $100 million in July, instead of the full amount. Sears' situation grew even more dire this month as the company revealed that some suppliers are trying to cancel contracts and cut back on orders amid fears that the retailer could soon go bankrupt. Sears says the new financing deals will help it reach its goal of reducing outstanding debt and pension obligations by $1.5 billion for fiscal 2017.
I've been managing teams for about six years now, and there's one phrase I've grown to hate hearing from employees: "Somebody should..." Sometimes this phrase is followed by a very specific task or product improvement. Other times, it's a suggestion to change a process, either on our team or somewhere else in the company. Employees who use this phrase think they're being helpful. They think they're saying, "I'm a strategic and creative thinker who looks beyond the limits of my defined role and thinks of ways to improve the fortunes of the business overall. Please consider my larger value to the company when you think about my performance." But that's not what their boss hears. Their boss hears,
President Trump’s fiscal 2018 budget seeks a major reduction of retirement benefits for the nation’s federal workforce. If the Republican president gets his way, federal retirement benefits will be cut by more than $4 billion in the coming year and by nearly $63 billion over the coming decade. It’s not all bad news for the federal workforce: The 2.2 million civilian federal workers are in line to receive a 1.9 percent pay raise next year, slightly more than previous pay hikes, and Trump has proposed a six-week paid parental leave program that would be available to federal workers, as well as others.