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Old 10-31-2006, 09:31 PM
Thomas Thomas is offline
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Default Sands Casino to Close

In less than two weeks, 2,100 Sands employees get their walking papers when the 26-year-old casino hotel closes its doors in preparation for a takeover by Pinnacle Entertainment on Nov. 17.

And currently, the Sands is offering employees just a week's pay while they search for another job. The Sands expects the union's severance fund to substitute for an additional package. But the fund is the union equivalent of a 401(k) nonunion workers receive, with tax implications and a penalty for those under 60. It's designed for retirees, not those out of a job.
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