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Union Shareholder Group Seeks Kmart Sale: The Kmart Independent Shareholders’ Committee, which represents ownership of about 520,000 Kmart shares, made the proposal in a preliminary proxy statement filed with the Securities and Exchange Commission. The group said it wants the Troy, Mich.-based discount retailer to explore a sale or merger of the struggling company. The group, which was formed by the Union of Needletrades, Industrial and Textile Employees and the Teamsters, plans to solicit shareholder proxy votes for its proposals at Kmart Corp.’s annual meeting May 21. Michael Zucker of the Union of Needletrades said Kmart’s prospects remain bleak despite the company’s recent improvements in sales and profit. Kmart investor relations director Robert Burton said the proxy filing is part of a “cookie cutter” campaign waged by the unions to gain board representation at several companies.