The failure of Sears is a text book case of what's wrong with both business and government in Canada.
For Sears, the writing has been on the wall for years. The company needed to be agile and re-tool for the digital future; instead its entire focus was on shareholder returns. A succession of hotshot managers tanked the company and scooped up all the cash. Including last summer's store closures, about 15-thousand employees have lost their jobs. Marge Colderley told Bayshore Broadcasting News she has worked for the company for 50 years but gets virtually nothing...no severance, no pension, no thanks. We know that retail is not the leading edge of business but Sears is symptomatic of all that's wrong with business today.
And that's why this is also a failure of government. As Marge told us, even the refugees presenting at illegal border crossings are getting to government help to meet out-of-pocket expenses. The government has money for this exigency but no relief for those thrown out of work after fifty years on the job. Our senior governments have millions of dollars to compensate for the mismanagement of aerospace and other high tech industries. But they have done nothing in today's McJob environment to bolster EI benefits or to give workers even a modicum of protection when Sears mismanaged its way out of business.