Sears Canada Inc. announced in November that it will sell the leases on five of its stores including the Toronto Eaton's Centre for $400 million. The company suffered a loss of $48.8in the third quarter of the year, hence the downsizing. The Sears spokespeople never mentioned the effect of competition from Walmart and other retailers but that's how capitalism functions. In the mad dash to make profits some are left behind, go under and respond with worker lay-offs. You can bet the investors are taken care of while the unlucky workers will have to scramble to make ends meet. Things will never change unless we organize for socialism. John Ayers.
The Glasgow & Edinburgh Branches Blog. Towards a better understanding of the world, in order to change it.
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