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Sears Holdings (NASDAQ:SHLD) is also going down the pension buy-out route. The company, which had $6.1 billion in pension liabilities at the end of last year, is planning to contribute an additional $203 million to its pension plan to facilitate pension buy-out settlements, according to its recent SEC filing.
Don’t Miss: Kraft Keeps Growing.
In a deal that would be earnings accretive right off the block, Wyndham‘s (NYSE:WYN) subsidiary acquires Shell Vacations for $255 million, gaining 19 resort locations.
Over 2000 loss-prevention personnel at Best Buy (NYSE:BBY) are being moved to the front-line in stores to improve customer service and boost revenues.
RBS (NYSE:RBS) proposes to sell a 25% stake in its Direct Line Insurance unit to comply with the strings attached to the 45.5 billion pound bail-out it received after the financial crisis. The sale will go the IPO route, and likely raise 3 billion pounds.
Ford (NYSE:F) offers no comfort to anxious unions regarding the possible closure of its plant in Genk, Belgium, neither denying or confirming the rumors. Restructuring needs in the continent cannot be wished away considering the huge losses emanating from the region and weak sales growth.
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