Dewalt is Black and Decker made to compete with Makita, Bosch and Milwaukee.
Im a Wilwaukee guy.
Im a Wilwaukee guy.
Future of Sears Canada looks grim, posts $144-million loss
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The sneaky one is Ryobi. They are bizarrely cheap but not as cheap as their price would suggest. My son won a quite nice 18v Ryobi set as a raffle prize at a summer fair. I've used it now and then and it's not bad for cheap stuff. The engineering is better than you'd expect.
Wilwaukee brushless DC motors ...A-1!
I have heard that about craftsman. They used to be bulletproof.
Dewalt is the same thing. Dewalt used to be indestructible and now they barely qualify as commercial grade.
A friend of mine found an old Sears circular saw in the Revelstoke dump from the 50s. The whole casing was aluminum but the motor was fried. He took it Sears and they replaced it, no questions. That was about 20 years ago. Too back they went down. That is what happens when the companies are taken over by bean counters.
Damn rights. I got rid of my air and corded tools.
Their 1/2 inch impact driver has way more torque than my 3/4 inch air ever did.
Amazon and Walmart killed Sears.
Sears retirees ask court for retailer’s remaining funds for pension shortfall
Canadian Press
More from Canadian Press
Published:
July 23, 2018
Updated:
July 23, 2018 1:16 PM EDT
Retirees of bankrupt Sears Canada Inc. filed a motion in court to award them the remainder of the former department store chain's cash over other creditors to help fund their pension shortfall. Shoppers enter and leave a Sears retail store in Toronto on Thursday, October 19, 2017.Nathan Denette / THE CANADIAN PRESS
Sears Canada Inc. retirees want an Ontario court to award them the remaining roughly $135 million of the former department store chain’s cash to help fund their pension shortfall.
Some 18,000 Sears retirees will receive smaller pension benefits than they earned due to a roughly $260 million shortfall in the plan, according to a motion filed in the Ontario Superior Court of Justice on Friday.
Retirees will receive 30 per cent less than their promised monthly pension benefits beginning August 1, the motions reads.
“The retirees are the priority creditors of the estate,” it reads, adding that debts to secured creditors have been paid.
The majority of the retirees’ benefits are modest, according to the motion, and they rely on them for their daily livelihood.
The retirees are claiming nearly $730 million in total. That includes about $260 million for the pension plan wind-up deficit and $421 million for health, life insurance and other benefits for retirees.
Sears Canada’s estate has about $135 million in cash, according to a recent report by FTI Consulting Canada Inc., the court appointed monitor for the retailer’s insolvency.
The retailer faces more than 2,000 claims seeking a total of at least $36 billion, according to the report. Though it notes “a significant number” of those claims were either filed multiple times under different claim types or against multiple Sears Canada entities.
“The Supreme Court has confirmed that the pension deemed trust in favour of pension plan beneficiaries continues to apply in CCAA proceedings,” wrote Andrew J. Hatnay, a lawyer representing Sears retirees, in an email.
The court will hold a scheduling conference for the motion on Tuesday, and Hatnay said he expects the hearing to be held in September or October.
Sears Canada filed for creditor protection in June 2017 after efforts to reinvent itself failed to muster consumer enthusiasm.
The department store chain’s last remaining stores closed their doors for the final time on Jan. 14 this year.
http://torontosun.com/news/national...tailers-remaining-funds-for-pension-shortfall
Canadian Press
More from Canadian Press
Published:
July 23, 2018
Updated:
July 23, 2018 1:16 PM EDT
Retirees of bankrupt Sears Canada Inc. filed a motion in court to award them the remainder of the former department store chain's cash over other creditors to help fund their pension shortfall. Shoppers enter and leave a Sears retail store in Toronto on Thursday, October 19, 2017.Nathan Denette / THE CANADIAN PRESS
Sears Canada Inc. retirees want an Ontario court to award them the remaining roughly $135 million of the former department store chain’s cash to help fund their pension shortfall.
Some 18,000 Sears retirees will receive smaller pension benefits than they earned due to a roughly $260 million shortfall in the plan, according to a motion filed in the Ontario Superior Court of Justice on Friday.
Retirees will receive 30 per cent less than their promised monthly pension benefits beginning August 1, the motions reads.
“The retirees are the priority creditors of the estate,” it reads, adding that debts to secured creditors have been paid.
The majority of the retirees’ benefits are modest, according to the motion, and they rely on them for their daily livelihood.
The retirees are claiming nearly $730 million in total. That includes about $260 million for the pension plan wind-up deficit and $421 million for health, life insurance and other benefits for retirees.
Sears Canada’s estate has about $135 million in cash, according to a recent report by FTI Consulting Canada Inc., the court appointed monitor for the retailer’s insolvency.
The retailer faces more than 2,000 claims seeking a total of at least $36 billion, according to the report. Though it notes “a significant number” of those claims were either filed multiple times under different claim types or against multiple Sears Canada entities.
“The Supreme Court has confirmed that the pension deemed trust in favour of pension plan beneficiaries continues to apply in CCAA proceedings,” wrote Andrew J. Hatnay, a lawyer representing Sears retirees, in an email.
The court will hold a scheduling conference for the motion on Tuesday, and Hatnay said he expects the hearing to be held in September or October.
Sears Canada filed for creditor protection in June 2017 after efforts to reinvent itself failed to muster consumer enthusiasm.
The department store chain’s last remaining stores closed their doors for the final time on Jan. 14 this year.
http://torontosun.com/news/national...tailers-remaining-funds-for-pension-shortfall
Seems they took a wrong turn in keeping the stores open and dropping the mail order part as that is how companies are growing these days. Amazon and E-bay as the best examples
A lot but running under other different names as they were gobbled up. Did they ruin themselves or were outside forces telling them which way they were going?? (so other companies could thrive)
It’s called capitalism and it’s why we have the living standard we enjoy. Poor business practices are weeded out and new and better practices emerge.
Unfortunately, the inferior airline won out because they had some cash at that brief moment and Canadian did not for that brief moment. If you think that natural selection chose the better entity, you are dead wrong in this case. The most agressive SOB won, not the one that served their customers better.
And yes, there is room for two Canadian airlines. We have that now and neither of them are special.
Porter is a great airline, I like flying West Jet, and Air Canada’s reputation is improving lately.