BusinessThe Street•21 hours agoI Am a Millennial Who Just Went to Kmart for the First Time Ever and Couldn't Believe This Place
I, likely because I'm a millennial, had never been to a Sears Holdings Corp.-owned (SHLD) Kmart before. Until today. On Monday, July 3, I took a trip to a Kmart store in Brick, N.J., and I was amazed, for several reasons, that its doors were still open. The store was dingy, dirty and disorganized, far worse than the Sears store I recently visited that I thought was a horror show. Plus, the location was poorly stocked, despite the fact that I arrived around 9 a.m., only one hour after it opened. But, Monday's trip gave me yet another insight into why its parent, Sears, announced on Friday it is closing an additional 43 stores on top of the 265 locations, across both Sears and Kmart banners, it
- NewsMarketWatch•4 hours ago
Money lessons from Bobby Bonilla’s steal of a multimillion-dollar deal
Boy, did Bobby Bonilla outplay the New York Mets. The retired third-baseman struck a deal with his former team at the end of his career to defer his final year’s salary payment ($5.9 million) in 2000 for 10 years in exchange for 25 annual payments of $1,193,248.20 beginning in 2011, according to ESPN. Bonilla just collected his seventh payment on July 1, better known to sports fans as Bobby Bonilla Day. In other words, the Mets got the use of Bonilla’s capital for 35 years. For that use, they owed Bonilla a reported 8% annually on his capital, and the math checks out when we work backwards from the payout period to the deferred or “growth” period, starting in 2001. In order to generate 25 annual
- BusinessMarketWatch•4 hours ago
Move over millennials, members of Generation Z are ready to work
The American economy added 222,000 new jobs in June — and many of those positions were likely taken by members of Generation Z. Precise definitions vary, but Generation Z generally comprises those who were born in the 1990s and came of age amid events such as the Sept. 11 terrorist attacks and the 2008 financial crisis. In recent years, the first wave of Generation Z workers have turned 18. More of these people are entering the workforce — by 2021 it is expected they will constitute a fifth of all workers. Among people ages 16 to 19, the unemployment rate dropped to 13.3% in June on a seasonally adjusted basis, from 14.3% the month before, according to data released Friday from the Bureau of
