Consumer report: Sports Authority denies executives’ bonuses

Consumer report: Sports Authority denies executives’ bonuses


CAN’T TAKE THEM. BACK TO YOU GUYS.>>THANKS, ERIC. BEWARE THE NEXT TIME YOU GO SHOPPING NEXT WEEKEND, FINAL SALE MAY NOT BE WHAT YOU THINK IT MEANS.>>WE’VE GOT A LITTLE BIT OF CONSUMER NEWS FOR EVERYBODY THIS MORNING, BUT STARTING WITH HEALTH INSURANCE, HUGE HEALTH INSURANCE PROVIDER, AETNA, IS RECONSIDERING ITS PARTICIPATION IN THE AFFORDABLE CARE ACT MARKETPLACE, ALSO KNOWN AS OBAMACARE, AND THAT COULD PUT THE ENTIRE PROGRAM IN CRITICAL CONDITION. AETNA SAYS IT WILL CANCEL ITS PREVIOUS PLAN TO EXPAND IN OTHER STATES, AND IT’S ALSO TAKING A CLOSE LOOK AT ITS INVOLVEMENT IN THE 15 STATES WHERE IT OFFERS COVERAGE. AETNA SAYS IT WILL LOSE LIKELY $300 MILLION ON OBAMACARE-BASED BUSINESS THIS YEAR, AND A GROWING NUMBER OF INSURERS ON THE EXCHANGES HAVE ALSO VOICED FINANCIAL CONCERNS.>>>NOT HAPPENING. THAT’S THE MASSAGE FROM A BANKRUPTCY JUDGE TO FORCE SPORTS AUTHORITY EXECUTIVES WHO ARE TRYING TO COLLECT $2.85 MILLION IN BONUSES. THE COMPANY IS BANKRUPT AND THEY CLAIM THAT THE MONEY IS INCENTIVE PAY FOR MAKING SURE THAT EMPLOYEES AND SHOPLIFTERS DIDN’T LOOT LIQUIDATION MERCHANDISE. THE JUDGE REJECTED THOSE BONUSES CLAIMING IT WOULDN’T BE FAIR TO SOME 14,000 SPORTS AUTHORITY EMPLOYEES ACROSS THE COUNTRY WHO ARE LOSING THEIR JOBS WITH NO SIMILAR PERKS.>>YEAH.>>IF YOU LOVE A GOOD BARGAIN, YOU PROBABLY LOVE TO SEE THE WORDS, FINAL SALE, ON ITEMS. RIGHT? IT USUALLY MEANS THE RETAILER HAS CUT THE PRICE AS LOW AS IT’S GOING TO GO AND YOU BETTER GET ON IT IF YOU WANT THAT SKIRT, COFFEE TABLE OR PAIR OF SHOES, WHATEVER IT IS. THE “WALL STREET JOURNAL”, THOUGH, REVEALING THAT THIS IS A NEW SALES TACTIC THAT RETAILERS ARE USING THE WORDS, FINAL SALE, IN A DIFFERENT WAY. NOW IT CAN MEAN THE ITEM MAY BE MARKED DOWN FURTHER IN COMING DAYS OR WEEKS, BUT REGARDLESS, YOU CANNOT RETURN IT NO MATTER WHO YOU PAID, SO REALLY ALL IT MEANS IS YOU CAN’T RETURN IT, IT DOESN’T MEAN YOU’RE GETTING THE BEST DEAL. RETAIL ANALYSTS SAY U.S. CONSUMERS RETURN ABOUT 8% OF EVERYTHING WE PURCHASED LAST YEAR, SO THIS IS ONE WAY STORES ARE CUTTING DOWN ON THOSE RETURNS.>>INTERESTING. YOUR THINKING, MARKETING, I’M COMING IN FOR THE FINAL SALE, REALLY THEY’VE JUST CHANGING

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