35 Burst results for "Eddie Lampert"
Sears sues Lampert, claiming he looted assets and drove it into bankruptcy
"The former owners have Sears are suing the new owners ABC's, Dan WGN's. Ryan burrow reports Sears holdings which used to control Sears KMart stores until Eddie Lampert and his hedge fund purchased the failing retailer for five billion dollars in February says, its former chairman looted billions from Sears as it entered bankruptcy the complaint says it Lampard and his hedge fund hadn't taken improper and illegal actions by stripping the retailer of assets like land's end and Sears hometown outlet. The company would have had billions of dollars to pay third party, creditors Lampard and his hedge fund released a statement calling the allegations misleading or just
Sears sues Lampert, claiming he looted assets and drove it into bankruptcy
"Explains. Here's holding Corp has filed a lawsuit against its largest shareholder Eddie Lampert, alleging the billionaire strip. The company of more than two billion dollars in assets. The lawsuit also names former Sears directors, including US Treasury Secretary, Steven Mnuchin and executives at Lampard's. Hedge fund ESL Sears filed for chapter eleven bankruptcy back in October Lampard saved the company by acquiring the assets in auction in February though, it's unsecured. Creditors. Say the sales or spin offs of key assets, simply lined Lampert zone pockets ESL vigorously disputes the claims and in a statement called them baseless and
GameStop posts massive loss as pre-owned game sales plummet
"Unfortunately, we're gonna start with game. Stop. It was a rough fourth quarter for game stop. But even worse. The video game retailer warned that there's probably going to be a loss in the first quarter the current quarter that we're in right now shares down five percent. I'm looking for a silver lining with game. Stop and I can't find one. Yeah. I should have told you this before I came on Chris. But you cannot have picked a worst analyst to come on give commentary about game. Stop because I've I've had a long and complicated relationship with game. Stop do tell. Oh, well, you know what game stop? It's been a terrible investment. But in my opinion, a terrible investment because management has always just made terrible decisions. And for a while. I was a big believer in the sense. Still am in game stops ability to to change its business model for the better to make it something that exists and five or ten years and that hedged on you know game. Stop has this amazing refurbishment facility out in Texas. They're the only people really capable of buying refurbishing selling games, and they never really tried to do anything with it. It was always this, you know, back of their mind business model and so. So for me, it's it's a frustrating stock to look at because at this point. There's really no saving game. Stop. It's it's definitely down and out at this point. I'm not sure if there's a silver lining purely because management, which by the way, they're getting a new CEO and April but CEO's turnover a ton. They just have no vision. They're just sitting there getting their little dividends, you know, reading out the company for what it's worth then moving on. We've talked on this show before about executive turnover at tesla and executive meaning just sort of the executive suite. In some ways that pales in comparison to game stop, which this is going to be their fifth CEO in just over a year. That's that's gotta be so depressing for so many people who work at that company. Well, it's clear that the company has no vision. And I joked talking about game stop earlier today with Aaron Bush, and I made the joke that you know, at least Sears Eddie Lampert. He had a plan. It was not a plan. It was hurry, and it was not a plan to return value to shareholders. But man, did you have a plan to return value to himself, and he did it in a least? There was an underlying goal with that company with game stop. It's clear. They're just flailing and they've been flailing for a long time.
"eddie lampert" Discussed on Bloomberg Radio New York
"And I'm Susanna Palmer from Bloomberg world headquarters. Congressional negotiators are holding a weekend of talks on a security plan. That includes some sort of barrier on the US Mexican border. They're hoping to complete a deal to avert another government shutdown. That's also acceptable to President Donald Trump China said vice premier Liu. Hey will join US Trade Representative Robert lighthizer and Treasury Secretary Steven Mnuchin in high level trade talks between the two countries next week. James McKenna, senior global economist at Aberdeen standard investments, we're hopeful that this turned down in aggression that this temporary truce is extended in that provides more room to try and explore some of these issues. China's commerce ministry said the US working team will arrive in Beijing Monday and build on talks that took place in Washington. In late January talks are set to start on Thursday fifty thousand jobs just keep saying that over and over. Much like Eddie Lampert team, and you'll have one of the key reasons Lambert and his ESL investment. Hedge fund are said to have been able to fend off those who wanted to liquidate Sears. Yes, L is reported to have consistently raised to the potential of mass job dismissals in public statements. Letters court filings Tiki alive of it that was rejected more than once representatives for Sears and for ESL declined to comment. Steven Cohen is having trouble selling one of his trophy properties, the billionaire drop to the price of his midtown Manhattan. Duplex more than six times in six years, and is now asking forty five million for the apartment, which was originally priced at one hundred fifteen million back in two thousand thirteen when he listed it. Cohen the founder of point seventy two asset management bought the five bedroom units in one beacon court between fifty eighth and fifty ninth streets for twenty four million in two thousand and five global news twenty four hours a day on air and picked up on Twitter, powered by more than twenty seven hundred journalists and analysts in more than one hundred. Twenty countries. I'm Susanna Palmer. This is.
"eddie lampert" Discussed on News 96.5 WDBO
"That don't bring you joy that show right, right and fire to get everything and get rid of everything in my house that doesn't pass the does this bring me joy test. It would it would basically just be me and a bunch of cheese at my at my house that would be just about it. It's eight eighteen on Orlando's morning news. I'm Rika Puteh. And I'm Marsha Taylor. Hopefully, you didn't have this problem. But Wells Fargo customers are hoping they have a better day to day. They're ATM's, plus the mobile banking site, all down Wells Fargo said the power shutdown was caused by smoke at one of their data facilities, and they ruled out the possibility of a cyber attack. And how about Sears Sears was a cat. It would have nine lives because it looks like they're employees are keeping their jobs. We told you couple of weeks ago, I think it was a month ago. How was gonna shut down. We'll bankruptcy judge is approving the sale of the retailer to its former chairman Eddie Lampert the deals expected to close today. And that means four hundred. Stores will say stay open, and we'll have still forty five thousand jobs what's going to be left at Sears. Now. What is left at Sears? What are they have? Because didn't they sell off the tools and a lot of the other things they sold those things not sure about the tools, but appliances, right? Aren't they big? They have the whole more aligned, and they used to I don't know that they still do. And I think I think Home Depot has some of those Kenmore products. Now, it's eight nineteen does morning news. How about we transition here to our full five day weekend forecast? It's brought to you by southeast Tila plants warehouse. Good morning, Tom. Good morning. Joey made another Friday and a beautiful spring-like day today. We have changed for the weekend. But today is going to feel about like yesterday with highs near eighty two.
Former CEO seals deal to buy Sears for $5.2 billion
"A bankruptcy judge approved the sale of Sears to its chairman Eddie Lampert for over five billion dollars. This is USA radio news.
"eddie lampert" Discussed on WINT 1330 AM
"Have to have the confidence of the electorate, and they have to have the confidence of the legislature. She's staying out of it. I have enough to do here without getting involved in fares of of of Virginia. Saga megani at the White House. President Trump was asked today if congressional negotiators are closer to a compromise on border security to avoid another government shutdown. There could be I hear they're working on something. We'll see what happens, but I certainly hear that they're working on something. Both sides are moving along. We'll see what happens appropriations committee chairman Richard Shelby of Alabama said Thursday's session in the Oval Office was the most positive meeting. I've had on a long time that the president was very reasonable a bankruptcy. Judge has blessed. A five point two billion dollar plan by Sears chairman and biggest shareholder Eddie Lampert to keep the iconic business going the approval means roughly four hundred twenty five stores and forty five thousand jobs will be preserved Lampard's bid through his hedge fund overcame opposition from group of creditors, including mall owners and suppliers that tried to block the sale and pushed hard for liquidation. Lampard has put forth any specific reinvention plans and the company still faces cutthroat competition from Amazon target and WalMart on Wall Street. The Dow down by two hundred twenty points, the NASDAQ dropped eighty sixty s and p lower by twenty-five oil down to fifty to sixty four a barrel. More on these stories at townhall dot com. When it comes to your pain. Many of you might be skeptical black. I was about ordering relieffactor Pat Boone again for this wonderful hundred.
Sears in court as fight rages on over selling to former CEO
"It's now up to a bankruptcy judge to decide. Whether it's Sears is going to continue in one form or another. Or if the historic retailer will be sold off in pieces. A second day of hearings wrapping up yesterday. The company's restructuring chief defending a deal to sell Sears to former C E. Uh-huh. Eddie Lampert for five point two billion dollars unsecured creditors, including the federal government and shopping malls. And others insists that liquidating the one hundred twenty six year old company would be a better deal for the workers vendors as well as creditors.
"eddie lampert" Discussed on Bloomberg Radio New York
"Pie by Christopher cruise. I'm susanna. Palmer from Bloomberg world headquarters, a top Venezuelan air force officer has turned his back on president nNcholas Maduro and has called for the military in Venezuela to support opposition leader, one Guido in a video message reported by El Nacional and other Venezuelan media. General Francisco Esteban Yanez Rodriguez pledged his support to Guido he said that ninety percent of the armed forces oppose Madero ESL investments and its chief Eddie Lampert will try again to rescue Sears holdings on Monday in bankruptcy court. Lampert will ask a judge to give him another chance? Lampert says his five point two billion dollar bid for what's left of Sears will rescue four hundred twenty five stores from being sold off piece by piece and keep forty five thousand employees out of unemployment offices. Some creditors say they've already seen this story line. The Trump administration is appealing a federal court in Montana's decision to block transcanada's eight billion. Keystone XL crude pipeline project. It is the latest legal fight for the project, which is now facing another environmental review after a US judge said the original assessment was inadequate. It was the fifth up week six for the S and P five hundred index. Investors seemed to be on board with the assessment of Hank Smith chief investment officer at Haverford trust earnings in two thousand and nineteen are not going to be a strong as they were in eighteen but they will still be positive with market selling a fourteen fifteen times earnings eight ten year treasury point seven percent, the stock market still be most attractive area to be on Friday. A better than expected jobs report and signs of progress on trade talks overshadowed, a disappointing sales forecast from Amazon global news twenty four hours a day on air and it ticked up on Twitter. Powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. I'm Susanna Palmer. This is Bloomberg..
Creditors Say Edward Lampert Reaped Billions but Left Sears Insolvent
"Estimates a group of Sears creditors calls. What chairman Eddie Lampert did to the bankrupt retailer nothing short of tragic. A proposed complaints said that the seer story reads like a Shakespearean tragedy. The creditors. Argued that Lampert winning bid to salvage Sears is fundamentally flawed would wrongly enriches hedge fund and should not be approved by a bankruptcy. Judge. A Lampert spokesperson
Eddie Lampert, Edward Lampard And Sears discussed on Wintrust Business Lunch with Steve Bertrand
"Right now. It's a done deal. Sears holdings confirming that their chairman Eddie Lampert won the bankruptcy auction to keep the company afloat says chair Edward Lampard's five point two billion dollar proposal will keep the doors open and preserve
Sears, Eddie Lampert And Nicole discussed on WBZ Midday News
"How's it going out there? Well, Sears confirms Nicole. The Eddie Lampert was the winning bidder of this week's bankruptcy auction. Sears also confirms the winning bid will preserve forty five thousand jobs, but the sale still needs the
"eddie lampert" Discussed on KGO 810
"Coalition partners. And we're bringing our troops home. The caliphate has crumbled, and ISIS has been defeated Pence made no mention of today's massive explosion in Syria that killed four US servicemembers. So far the saga Sears has a new chapter. And it's not chapter eleven Jason Middleton reports on life support for quite some time Sears has been shocked back in. Into business with a five point two billion dollar bailout from its CEO Eddie Lampert made his money in hedge funds, and he's using some of it to save the four hundred some Sears stores and up to about fifty thousand jobs, those are strong bargaining chips to have, but there are detractors to this deal. Mainly the unsecured. Creditors who hold Sears as debt if the unsecured creditors. Formerly object to the bid the bankruptcy judge will need to assess the merits of their claim on January thirty one Lampert needs the judge's approval for this bid to be official, even if Sears emerges from bankruptcy. It will still have to deal with the challenges that led to its demise in the first place. Pro tip make your stores less like overly lighted tombs. I'm Jason Middleton. Jason is also looking at all things apple he will go in depth with Ethan Bearman later this half hour on K G O ten. This report is sponsored by P three portable protein packs. The more interesting way to get your protein. You are so close. To finishing the day. Keep going with P three portable protein Pax is a combination of meat cheese and nuts grabbed the more interesting way to get your protein with P three. I'm Brett burkhart. Remember, the number eighty eighty eight ten join the conversation on K.
"eddie lampert" Discussed on KOMO
"Insurance money update. The head of an influential German business lobbying group says the UK parliament's vote yesterday against the Brexit deal. With the European Union shows hysteria has one meanwhile, you financial markets have taken the overwhelming defeat of Prime Minister, Theresa May's Brexit deal in stride. And German Chancellor Angela Merkel says there is still time for negotiations between the European Union and Britain over its departure from the EU Sears will live on at least for now. A person familiar with the negotiations says the company's chair and largest shareholder. Eddie Lampert has won a bankruptcy auction for Sears averting the chains. Liquidation. Fifty-six-year-old billionaire had sweetened his bid to more than five billion dollars over the last few days through an affiliate of his hedge fund ESL a maybe able to keep the roughly four hundred remaining Sears stores. Open saving tens of thousands of jobs. Let's see what's happening on Wall Street this morning. We check in once again with Don McDonald at vestry. Well, Greg European stocks actually did relatively well. But the footsie one hundred was down in the wake of the. The Brexit vote down about thirty two points right now, the Dow is up one hundred fifty four though which is a pretty nice gain to twenty four to nineteen seventy five S and P five hundred up ten to twenty six twenty ninety seven the SNP total market index is up seven points. That's the smallest increase in the composite up thirty four to seven zero five seven point ninety eight and oil prices continue to be extremely volatile. They're down this morning about forty two cents a barrel for US crude eighty point eight one percent of fifty one dollars and sixty nine cents. All right. Thank you, sir. Don, MacDonald hosts komo's talking real money. Saturdays at noon and coming up. We'll check traffic and weather for you on the KOMO morning news. It's eight twenty one. Komo news. Join.
"eddie lampert" Discussed on NewsRadio KFBK
"Of the third place you hear Starbucks talk about it allows the place where people want to be outside their home or their office place for their comfortable, and Starbucks has always tried to be that place. And it's kind of the same with malls. I mean, if you actually enjoy the experience there are some great malls in the area. And those are destination type malls. If you enjoy the experience of being there, whether it's broad stone or the Galleria or fountains apparati. Our was that Palladio as the destination. Yeah. Pavilions? I mean, there's there's some very good ones. But boy, if you're a second tier mall, and you're not upgrading and updating. You are I mean, there's there's a risk anyway that you are dead mall selling. I mean that is you're just you're heading towards zombie status. Because if it's if you're just there for people to walk in and buy stuff, they can do it online period. So if if they want to be there because the experiences that good that's one thing. But even the Sears deal Eddie Lampert is gonna save about four hundred those source. But for what I I mean. I haven't heard the new strategy that somehow going to make them profitable all of a sudden. But we'll we'll maybe he's getting rid of some high priced leases left. Wait and see. But there's no doubt about it. The second tier malls are absolutely endangered. At this point market. Overall today is up on good earnings from some banks including Bank of America, including Goldman Sachs, and boy, there's all sorts of other things going on. But overall the market is doing okay bouncing back from the lows of Christmas Eve Dow up one fifty at twenty four to sixteen NASDAQ up thirty seven thousand fifty eight and p up ten points oil flat. Gold up for ten year. Bond yield two point seven three percent. Thank you Kelly.
Sears chairman prevails in bankruptcy auction w/ $5.2 billion bid
"Looks like Sears. We'll be staying in business at least a while longer. Sears holding chairman Eddie Lampert has reportedly prevailed in a bankruptcy auction for the department store chain a proposal that would save about forty five thousand jobs and keep four hundred twenty five Sears stores. Open in the US the deal still has to be approved by US bankruptcy. Judge
Sears chairman's takeover proposal faces moment of truth
"Negotiations are continuing over a bid to keep Sears open and operating Sears. Chairman Eddie Lampert is now offering more than five billion dollars for the bankrupt company a deal that would keep hundreds of stores open cross the nation. You're listening to USA radio news.
"eddie lampert" Discussed on WBZ NewsRadio 1030
"The owners of the Boston Herald have much bigger plans digital first media has reportedly made a buyout offer for Gannett. According to the Wall Street Journal, the company is known for slashing costs and cutting jobs and the same is true. At the herald Gannett owns more than one hundred papers in the country, including USA today. The government shutdown could grind the biotech industry to a halt government agencies like the FDA and the SEC work overtime in biotech. And since many of its workers are furloughed drug approvals will be slow in coming. It could also put. APO plans by private companies on ISIS. Well, five local biotechs are waiting to go public right now. The bankruptcy auction for Sears begins today. And this could be a very sad ending for. What was once the power behind the American economy, hundreds of stores could go dark and thousands of employees may be let go but UMass Lowell economists. Scotland theme says some will make out like bandits fat cats at the top like Eddie Lampert. You know, they know. No shame. And they will no no pain chairman Eddie Lampert, more than four billion dollar bid last week. Not good enough. But he's still in the running today. That's New England business. Jeff Brown WBZ. Boston's NewsRadio eleven twenty six markets are down right now. We're looking at the Dow losing just about one hundred and thirty points, the s&p five hundred down fifteen and the NASDAQ is giving back just about fifty eight points coming up on WBZ the latest on a fire this morning and Cambridge that ripped through a couple of buildings and left several families. Without a place to live when we were buying our.
It's auction day for Sears. Who will be the winning bidder?
"American retailer Sears is going up for auction today. The bankrupt company seems to have one viable option to stay part of the retail landscape is chairman and former CEO Eddie Lampert who oversaw the company's descent into bankruptcy is offering to buy out the company for more than five billion dollars
"eddie lampert" Discussed on WBZ NewsRadio 1030
"It is to thirty eight. Let's check things out in the business world now with Bloomberg business and Tracy jonky, Tracy. We have some closings in popular department store chain JC Penney is planning to close three stores this spring, Nicole and potentially more sales during the holidays were down. Sears chairman Eddie Lampert is new improved offering to keep that department store chain in business. The deadline is four PM today. Just like whole foods tells shoppers where it gets its produce. Tiffany will tell shoppers where it gets its diamonds Tiffany CEO says this is no marketing gimmick that an effort to attract customers who value transparency on Wall Street gains. Dow's up one hundred fifteen points, NASDAQ up fifty six the eleven I'm Tracy jonky Bloomberg business on WBZ. Boston's NewsRadio it is to thirty nine and over on beacon hill. A group of lawmakers and activists is spending time today at the state house asking for help to keep the heat on for low income. Residents points the state to allocate thirty million dollars, which will then offset recent cut in federal funds the Massachusetts association for community action or mass cap says one hundred sixty thousand homes here in the bay state get heating help from these organizations that rely on that federal funding of those homes. Forty eight thousand of them heat their homes with oil and the group says most will use up their benefits by the end of the month while Massachusetts is grappling with the opioid epidemic. We have been for years WBZ. Sheri, small tells us certain areas are now seeing an uptick in another dangerous drug trend certain illegal, drug trends, come and go one appears it may be coming back around again met a changing trends of the drugs that are on the street. We see fluctuation of some of the drugs with the bath salts with that before with Molly. And now we're seeing an increase in the Quincy police detective Lieutenant Patrick Glenn says, they're seeing an uptick in methamphetamine cases in the south shore over the last one to three years, something they're closely monitoring. Really been just kept to a small group of individuals throughout the community for past few years. And that was starting to see some seizures and the rest of it. So it's on the radar says it's not out of control yet but could easily become so because math is so highly addictive Sheri, small WBZ. Boston's NewsRadio is to forty one right now in Boston. Forty two degrees. Some showers moving offshore some rain moving through the Cape area. Also parts of the Merrimack valley and the sea coast of New Hampshire full forecast coming up in traffic and weather together about two minutes out police in Vermont say they should have done more. When the man was reported missing from a substance abuse treatment facility last weekend officials say that man Everett Simpson, then went on to kidnap a woman and her five year old child at the mall in Manchester. New Hampshire is he drove the parrot to a hotel in white river junction for Mont, and that's where he sexually assaulted. That woman as symptom was eventually arrested in Pennsylvania. Now, he faces a long list of charges but police say after they found out Simpson. Disappeared. That's when they should have issued an arrest warrant for him. Should have also informed other agencies. What was going on and put out a news release and Dartmouth College in New Hampshire now facing a new lawsuit from a former student at student identified as John Doe? He says he was unfairly expelled from the school over allegations of sexual assault suit filed earlier this week in federal court, claiming the encounter was actually consensual and he says the schools disciplinary process unfairly favored her story over his the suit says if new rules on sexual misconduct allegations from the federal education department had been in place his outcome might have been different sports now Celtics getting back to work tonight at the garden against the Pacers. But Sunday that's been the Pat start their playoff run against a team. That's dominated on the road. Patriots are perfect eight no at home this season. But the chargers having lost any of their nine games outside of Los Angeles. So bats coach Bill Belichick was asked for the reason. A lot of close. Scams, and they want a lot of close games are good football team. They're good on offense. Good on the year. They won a lot of games everywhere. Is it just me or jumps expect him to say I do not like those chargers from LA? We hope to beat them on Sunday, like green eggs and ham. I do not like them Sam I am. I do not like green eggs and ham. Sorry, I'll focus now. Are you rooting for the bats Bobby wearing one of those flying Elvis hats with New England favored by four Gillette will be alive. The road.
"eddie lampert" Discussed on NewsRadio KFBK
"All right. We're going to get you downtown to the offices of Genevieve's Burford and brothers hand as we've been talking about r Kelly's been talking about for the last couple of days Sears workers. Just wondering is today. Going to be the final day. Are they going to find out at Sears history? We'll we got a little bit of a reprieve. The company's chairman Eddie Lampert has four this afternoon to come up with an offer to keep a smaller version of the retailer alive. He had to put down a one hundred twenty million dollar deposits. And now in putting in his putting his deal, and it's going to be just part of the auction next Monday. In other words, if liquidators outbid him. That's it. It goes this these bankruptcy courts their fealty. You might say is to the shareholder. It is not to the jobs or to the brand or anything else. It's two. I'm sorry. Not the shareholders because it bankruptcy, Cheryl. Was we wiped out to the creditors? It's the people who have loaned money over time to Sears. So that's what they're going to be looking at who. Who's how are they gonna make the most money for the creditors? If Eddie Lampert could come up with the deal, which is better than the liquidators want to offer. Then maybe he keeps a small piece of Sears alive. We'll have to wait and see despite the partial government shutdown. The IRS will start processing tax returns on January twenty eighth so refund checks may not be delayed or as delayed as originally anticipated because of the current government shutdown here are the real time numbers this morning FX foreign exchange dollar at one zero eight against the antibody fourteen gets you a euro one twenty seven the British pound. The Dow up to fifty six yesterday will open up another one hundred twenty five off the opening bell wilbon at twenty three seven eighty seven oil up nearly three percent above fifty one twenty a barrel. Gold flat at twelve eighty six announced ten year bond, yield two point seven three. Thank.
"eddie lampert" Discussed on WIBC 93.1FM
"Housing counseling services to veterans experiencing homelessness five million dollars five million dollars to the Indianapolis urban league the Julian center, which helps us of domestic and sexual violence a million dollars. They're five millions of the Saint Mary's child center and ten million dollars to wheel her mission. Just somehow they have put forth this forty eight million dollars. We will hopefully it will have good effect. But the ending of homelessness isn't gonna come from these types of things rather it's going to come from a sustained plan that has to be not just. Government than I've never said that it should be in the same way that this entire downtown was created through business owners and business visionaries saying we can do better. That's how it has to be done. I in Sears staying in business for now Eddie Lampert, who's the chairman and the former CEO Sears is hedge fund putting together another offer at four point four billion dollars. It's not going to complete a sale. There's now going to be an auction due to be completed January fourteenth. We will see what happens to the company will stay in business. Or are they going to liquidate the daylights out of it? Could get pretty fascinating to.
"eddie lampert" Discussed on News Radio 1190 KEX
"Eddie Lampert has one more day to revise his bid to keep the struggling retailer in business. Made it this far, and you know, everything they've done in terms of store sales and brand sales d-, we'd take a pretty impressive number for to show viability concept financially. Good evening. I'm Brad Ford. Our top story near Corvallis. The search for missing Brownsville woman continues after Benton county sheriff's deputies found the truck belonging to suit Durham in the Willamette river today a day after she was reported missing earlier, they found evidence of a vehicle that went off highway twenty near the Hewlett Packard plant Undersheriff break Ridler tells her news partner k to that icy road conditions may have played a factor in the crash was reported missing when she didn't show up for work at good Samaritan medical center. Monday morning and also miss him appointments during the day TSA employees handling security at airports are working without pay during the partial government shutdown Oregon congresswoman Suzanne bottom, h he met with some of the workers at pediatrics faith of people in the United States is affected by this shutdown. When we have our air, traffic controllers are TSA folks stressed out about not knowing when they're going to be paid says forcing them to work without pay creates a stress that is unacceptable. Eight hundred thousand federal workers across the country are out there. Jobs during the shutdown Dodd wants to make sure that buses traveling to ski resorts are safe holdouts. David house says they'll have inspectors checking buses after they arrive if we find any safety or issues, we can get those addressed before people will get the right back home. How says they'll check for chains and other safety items on buses, they'll also check the driver's licence. And logged make sure they have not been driving to long without a break. House says they're performing the inspections because the buses carry large numbers of people and they travel in hazardous winter conditions Oregon has a new kid governor for two thousand nineteen fifth grader Erica Baldwin from McCormick elementary and Eugene was inaugurated today at the Oregon state capital. I am Bradford NewsRadio ninety K ex.
"eddie lampert" Discussed on WGN Radio
"Thirty eight degrees. Some fog and mist out there in places this morning. Sears has rejected. Eddie Lampert bid to save the company. The chairman of the company had put forward a four point four billion dollars bid to save Sears and fifty thousand jobs by buying it out of bankruptcy through his hedge fund, but a court hearing is getting underway right now in New York. Where liquidation is imminent liquidation could still salvage pieces of series. But it is likely that this will be the end of the company wants the nation's largest retailer some of the pieces that could be salvaged till include the Sears home of business home service business that still exists. Today. Search dogs help Cook County sheriff's deputies conduct a man on this morning in a south suburb. Dalton police say a man was shot and killed in his driveway on woodland avenue that happened in around one AM near the corner of one hundred fifty second street, Chicago activists community activist Andrew Holmes asking their neighbors and a resident of Dalton check your security cameras at see if you have any images anything with anybody running discharging this weapon turn it over to the police department. No rest have been made yet as that. Police investigation continues candidate for Chicago. Mayor Paul Vallas is calling for all other candidates with political and financial ties to embattled alderman Edberg to drop out of the race. Well, holding a broom yesterday at city hall Valla says it's time to sweep the bums out candidates with known connections Burke, include Susanna, Mendosa, Toni preckwinkle, Gary Chico and Bill Daley Burke is under fire after being charged with the tempted extortion last week later this morning, Illinois, US Senator dick Durbin will visit O'Hare airport to talk. About the impact of the partial government shutdown on airline operations, TSA employees will not get paid until a deal is reached. But they're required to be on the job. Nonetheless, many passengers are worried that means what that means when it comes to protecting flyers dangerous. Job getting paid. Then I think the TSA says to this point the shutdown has not impacted their ability to screen millions of flyers. Although longer lines have been reported at some airports through the last weekend goose island wants to give football players and football fans rather a chance to try to make the ill-fated field goal. That bears kicker. Cody parkey missed Sunday night. Here's WGN's Andrea darlas, Chicago bass brewery is inviting all of the armchair kickers out there to try to kick a field goal and see how hard it is the brewery said they'll set up a goal post outside of their business this weekend and invite anyone who thinks they can make the kick to come and give it a try. The winner.
Sears to ask bankruptcy judge for approval to liquidate: sources
"Well, they filed for chapter eleven bankruptcy last year back in October. And I do believe they're facing a a judge today to try to their hanging by a thread ABC's Ryan burrow is that about right to today's a day where the folks from Sears are meeting with a bankruptcy judge. Is that correct? Yes. So there was one bid put on the table to try to save this retailer from liquidation, and it was placed by chairman Eddie Lampert. He put in a four point four billion dollar last. Second bid kind of at the deadline at the end of December. To try and save the brand. But it does not appear based on reporting close sources close to the situation that this is a sufficient bid, according to the bankruptcy proceedings, and the and the court they are going to court today. They will talk this out and see if maybe the pot or the deal has been sweetened at all, including more cash added potentially less debt wiped away as part of this bid. But all indications are right now that this is this is a long shot a hail, Mary if you will and liquidation probably isn't too far behind ABC's. Ryan burrow, joining us on the fate of Sears and KMart which Sears zones, by the way, and it pretty much seems like this is a situation where it's like an old car an old beat up car, the might be worth more for its parts. Then as a whole. Yeah. I mean, they've already sold off the craftsman brand, right? They did that in two thousand seventeen. So they are no longer the exclusive seller of craftsman that went to black and decker. They still. Got ten more. They were looking to to sell that offer about four hundred billion dollars and apparently Amazon their biggest rival right now at kinda sniffing around that. But we'll see the the idea by in Lampard's bid was to consolidate the stores bring it down to a level that would be manageable right now, they've got a footprint of about four hundred and twenty-five stores and think about that just last year they had seven hundred stores. So I mean, they've been shedding like crazy for the last couple of years and they've worked into eleven billion dollars in debts. And boy just just in that arrow op his has been a real struggle. How many employees currently work for that company? Ryan sixty eight thousand at the time of the bankruptcy filing. Now, we know since the bankruptcy filing. They've shed hundreds of more stores. So the figures probably more along the lines of about fifty thousand employees who are probably going to get some hard news. If this does go to liquidation ABC's Ryan burrow joining us. And I gotta ask you switching gears. Ryan, you're in Chicago. Ago. Are you a bears fan? I am. I am. I'm not I just want to ask at want to get your reaction. You've had a couple of days for it to settle in. And and you know, God bless Cody parkey. It's now been
"eddie lampert" Discussed on KTAR 92.3FM
"Name KTAR news mostly sunny today with a high of seventy degrees, the high tomorrow seventy. Two with partly cloudy skies and look for a fair skies overnight with a low of about forty two this evening. Your weather is brought to you by Howard air whether replace or repair, call Howard air. Take a look at your money from the copper point insurance business center. It could be today is the day that determines the fate of Sears bankruptcy hearing scheduled for today. We'll determine if a last ditch four point four billion dollar bid from Sears. Chairman. Eddie Lampert is valid or if the iconic retailer will be sold off to liquidators. Sears doesn't accept the bid. It's expected to ask a court for permission to start liquidating its remaining four hundred and twenty-five stores. Dow futures looking pretty decent right now. They're up one hundred and sixty seven points the s&p five hundred's of sixteen. Nasdaq futures are up forty three for more money news. Visit the copper point insurance business center at KTAR dot com. And this this story, which has just been shocking to hear about over the last few days where a vegetative state woman who's in a vegetative state actually becomes pregnant and gives birth at a care home. How could this possibly happen? Well, you know, what there's a another side to all this. I heard from a healthcare professional who's visited this facility before and says, it's a it's a great place. We'll talk about this coming up in just a few KTAR news time is six oh nine. President Trump will address the nation on the situation that the US border at seven PM tonight. Are we close to ending the partial government shutdown have Democrats made a deal with Trump on funding? The wall KTAR news ninety two three FM brings you the president's address. Live followed by immediate local reaction from KTAR evening. Host Chad Benson. Listen to ninety seven KTAR news ninety two three FM and streaming live on the KTAR news app. If.
"eddie lampert" Discussed on 710 WOR
"The company will liquidate Eddie Lampert. Four point four billion offers the only bid that could keep the company going in its entirety. So why don't we take this bid? Sears which also owns KMart filed for bankruptcy in October. The want one hundred and twenty five year old company has more than sixty eight thousand employees. Seers advisers are just testing how much Eddie Lampert wants to keep the retailer alive. That's good. But. No, no. You know who else who else is bidding here? Now Limpert has put forward a four point four billion dollar bid to save Sears and fifty thousand jobs by buying it out of bankruptcy. There is large hedge fund E S L. So we're talking about saving jobs. You know, President Trump talks about that a lot. Here's fifty thousand jobs, we could save right away. If the Sears board allowed Eddie Lampert to buy it his offer though, which is largely funded with outside sources of capital is facing tough scrutiny from series advisors. People familiar with the situation, they'll CNBC if the two are unable to find a resolution it could force. Here's to liquidate. And it's completely shut down the one hundred and twenty five year old retailer, which also owns KMart filed for bankruptcy in October. At the time it employed sixty eight thousand workers, so eighteen thousand workers already gone. Seers advisers have until four PM to decide whether ESL's bid is viable. On friday. That was yesterday. I don't know. It looks like was updated thirteen days ago, thirteen hours ago. So I don't know. The data show. But if you want to check on that a continuing issue was the one point eight billion that Lampert put towards his offer by forgiving debt, owed ESL through a so-called credit bid. So here's the thing. They're trying to do some financial engineering to save Sears. Why not? Sears is also holding the meeting for liquidators who carry out the process of breaking the company apart. But think about these very busy now. Sears bankruptcy lawyers plan to charge their customary hourly rates of thousand seventy five to sixteen hundred for work done by its partners in council. According to the documents followed by the bankruptcy court in December the.
Sears picks liquidator should rescue talks fall through: sources
"If the Sears board allowed Eddie Lampert to buy it his offer though, which is largely funded with outside sources of capital is facing tough scrutiny from series advisors. People familiar with the situation, they'll CNBC if the two are unable to find a resolution it could force. Here's to liquidate. And it's completely shut down the one hundred and twenty five year old retailer, which also owns KMart filed for bankruptcy in October. At the time it employed sixty eight thousand workers, so eighteen thousand workers already gone. Seers advisers have until four PM to decide whether ESL's bid is viable. On friday. That was yesterday. I don't know. It looks like was updated thirteen days ago, thirteen hours ago. So I don't know. The data show. But if you want to check on that a continuing issue was the one point eight billion that Lampert put towards his offer by forgiving debt, owed ESL through a so-called credit bid. So here's the thing. They're trying to do some financial engineering to save Sears. Why not? Sears is also holding the meeting for liquidators who carry out the process of breaking the company apart. But think about these very busy now. Sears bankruptcy lawyers plan to charge their customary
"eddie lampert" Discussed on MyTalk 107.1
"In a letter to shareholders last night apple revealed that it's holiday sales will dip well below predictions in. It's a big dip to about five billion dollars. CEO? Tim cook says week is phone sales are to blame. Thanks. The CEO of Sears really wants to keep the Brent bankrupt retailer alive. Eddie Lampert has offered four and a half billion dollars to buy the company. But if that doesn't work he has a backup plan Sears will go up for auction on the fourteenth. If the dude cannot save the entire company as a whole he's planning on buying as much as he can in liquidation. And finally new year new higher prices at the grocery store. The USDA says the overall price for grocery items could go up about two percent this year, some of the items you can expect to be paying more for in two thousand nine include beef beef fresh fruits and veggies. However, it's not all bad news. There are a few items that will actually cost less this year, including pork eggs. Absolutely. It is. Just eat, pork. And that's the way it is for this Thursday, January third twenty nine thousand nine good morning everybody and welcome to Jason and Alexis in the morning live on mytalk one zero seven one and live streaming all over this beautiful earth at mytalk one zero seven one dot com. I'm Jason Mathison and joining me every single day when she's not stalking. Her fridge full of pork and eggs, ladies and gentlemen, ham. The Queen of pork chops..
"eddie lampert" Discussed on WIBC 93.1FM
"Kmart CEO Eddie Lampert has pumped billions of his own dollars into keeping the company afloat as part of the bankruptcy. Filing Lampert is leaving his post. Yeah. They're done. Sears is done. They've been fighting for a long time KMart and a lot of these other companies. It's not gonna be able to withstand. They've got to figure out what they're gonna do. And Sears is. I mean, this is this is a part of Americana. The the name all of these things are changing somebody that is vice generation. Yeah. But it's gone. We'd toys R us earlier this year. Now, they're trying to figure something out with toys R us. I would say if I was Sears. I would go completely catalog just for and do a pop up store. Just like, I think you should do. What toys R us toys R us? You pop up, you know, right around if you're going to do this same thing, man, you buy them. And you make a pop up stores for November. I like, you know, the first or second week of January closed them and then come back and start doing catalog stuff that sounds old fashioned. But you know, what in the hip world of old-fashioned, why not have some fun with it do something different. But the brick and mortar side of things it's done. It's done. You can't do it anymore. It's over you got nothing left. You're going to have to say that it's it's done, and you have to move on from it because the throwing the kind of money they're trying to keep something afloat. You're patching sinking ship. That is continuing to have holes in it. And then you patch. Another one another hole, and and you're running out of ways to patched up. It's just not going to work. It is three two three five three eight twenty four twenty three at Chadbensonshow is your Twitter. You can tweet at a very interesting thing is happening at yes kids, have it. A group of Asian American students said they were rejected from Harvard in favor of other racial and ethnic minorities matter of choosing to take one whole category of students and suppress their numbers as a percentage of the Claus. Peter would have been association of scholars at the ACLU Rozan hall Bax Harvard in a case that seems destined for the supreme court decision of this case has the potential to impact a lot of people for generations have pre Cavanaugh supreme court ruled race could be one factor in college admissions. So what's going on? Now is they're making it tougher for Asians to get in there because disproportionately right now as far as the represented. At harvard. Many of these other schools are Asians. And so they're making it harder. And they're like, well, wait a minute here. This shouldn't be fair. And this is funny because I was still producer Phil this. This is a cracker free issue going on right now. Right. The crackers got nothing to do with this is zero to do with this. This is a fight amongst minority groups fighting over this, and there's protests going on there. It's going to be very interesting to see how this plays out. But he's going to make it to the supreme court. And is it fair that they're holding them to a higher standard? We'll find out. But one thing's for sure. Crackers didn't cause this issue. On harvard. Three two three five three eight twenty four twenty three at Chadbensonshow is your Twitter. Speaking of race. Trump has gone in her head to the point where she took a DNA tests. Yes. That woman Elizabeth Warren. Why did she take it? We'll touch on that huge bubble is coming in a bubble. That people aren't looking at the way that they should be looking at especially when it comes to our economy moving forward. We're gonna talk about that as well. Text the program three two three five three eight.
An Icon Falls, Finally
"Great is Brooklyn's I Nico company and they are passionate about building the best footwear in the game at the best price. Greats has a fantastic offer just for you, be sure to stay tuned at the end of the show for that offer and to learn a little bit more about this company that's making waves in the footwear industry. From wondering, I'm David Brown, and this is business wars daily on this Monday, October twenty. Second when Sears declared bankruptcy last Monday, it felt like the end of an era today. It's hard to imagine. Sears has what it used to be. One of the biggest innovators in American business, but at its height, the company founded in eighteen ninety three sold everything from toys to tools to entire houses. Sears reached it's height, figuratively, and literally in nineteen Seventy-three when it was America's biggest retailer and built the Sears tower that tallest building in the world over the last few decades. However, Sears took serious missteps as it faced growing competition. I from big box stores like WalMart target and Home Depot, and later from Amazon and other online competitors. As the retail landscape shifted analysts, say other historic retailers like Macy's took steps to change with the times, but Sears didn't. By the nineteen nineties, instead of investing in more selection and better marketing. It closed its catalogue laid off workers and sold one hundred stores that pattern of store closings and layoffs never stopped in recent years. Shoppers walking. The aisles of Sears stores noted disorganization women's lingerie displayed right next to appliances. Some stores were dirty and customers complained about poor service last year as Amazon and WalMart spent more and more to convert online searchers into buyers. Sears invested almost nothing and last Christmas, it stopped advertising on TV. It failed miserably online as well as off in a speech to employees last week, former CEO. Eddie Lampert vowed to stave off liquidation and took responsibility for the company's missteps. Sears is still operating, but it's closing more stores and selling many others yet needs. A bang-up holiday season which it hasn't had in years to keep any doors open. It's a last ditch effort for a company born in the nineteenth century, trying to hold back all of the forces of twenty first century change. From wondering this business wars day, if you like today's news in the context of history, give us a five star rating on apple pie, cast scuba podcast, Stitcher or your favorite listening app. Would you? Thanks. I'm David Brown. We'll see you tomorrow. Thanks to greats for sponsoring business wars. Daily. Greats thinks it's okay to buy status. As long as you don't overpay, the company was founded by two guys who wanted to build a great sneaker brand that made high quality product and sold it direct to the consumer at value prize. Now, when they launched this company, their footwear became an instant classic selling out of most styles within ninety days. Now I've got the windward dune. This one is like a classic boat shoe, but updated. It's more comfortable and feels more durable than anything else I've tried and it gets noticed now greats offers men and women styles, and I promise you, you'll take one look at their website and see at least one pair you need to have right now as a listener of business wars daily. You can say, fifteen percent off your first purchase by going to greats dot com. That's g. r. e. a. t. s. dot com. And using the offer code BW daily at the checkout. That's great Stott com. Offer code BW daily for fifteen percent off your. I purchase greats classic styles made the best for less.
What the Fall of Sears Means for Retail
"So Sears was struggling for a while, seven years of losses and even some of its closest competitors. As you mentioned, Macy's n. j. c. Penney what does the fall of Sears mean for their future? You know, we'll penny is very much up in the air. They are struggling. They just they just brought on a new CEO so we'll see how she does, but you know, they've. Cycled through several leaders who have not been able to turn that business around. They're not as weakest Sears. But you know if things don't improve for them, they could be not far behind in a few years and Macy's has struggled to, but they've made a lot of investments in their business and they, they seem to be turning a corner this year. We'll we'll see how that plays out with them. And in your piece, you also talk about companies that have been able to emerge from bankruptcy, although in different ways or smaller ways like PayLess shoe source. And on the other hand, we have companies like toys r. us that seem to be having a tougher time. What can you tell us about the prospects for a reemergence of Sears? You know, a lot of retailers go into bankruptcy thinking they can restructure only to find out that they, you know, it's a death knell for them, and Sears is obviously hoping it can come out smaller and more nimble, but but it raises questions if they do come out with just three hundred stores will have the scale and the buying power to really compete. I'm not really sure what their place in the. World will be when you have WalMart and target and Home Depot with hundreds and thousands of stores. And then you know a very, very scaled-down Sears what is their proposition? And of course, in addition to all those brick and mortar retailers that you mention, obviously the rise of e commerce and the continued dominance of Amazon CEO CEO Eddie Lampert. I think he really saw early on how ecommerce which change retailing and and his hope was that he could turn Sears fast enough to meet those changes. You know, he clearly was not able to do that, but you know, Amazon is a once in a generation company and they have put everybody else on the defensive trying to compete with them. So that continues to be a big challenge. And you mentioned the holiday season a little bit earlier. The Wall Street Journal has been reporting a lot on how the fall of Toys R Us and other big retailers changes the holiday shopping season. How about retailers like Sears? I mean, by the end of this year, we could potentially just have a couple hundred of them. Left. I mean, Sears still has a pretty dominant share in things like tools and appliances. So people are going to, you know, may not be as willing to buy their appliances at Sears because you know who knows about that warranty and we'll series be around in a year. So I think a lot of that market share is going to be up for grabs in apparel and some other areas. You know, I think Sears just looms much larger in the American magic nation than it does
Ackman's Pershing Square unveils $900 million stake in Starbucks
"The funding runs Pershing square has invested nine hundred million dollars in Starbucks and ackman Noche ranking violet. He said that he expects shares of Starbucks to double in the next three years. I will just say, from my standpoint. This is the single biggest holding I have in my portfolio is Starbucks and I do not view this as welcome news. I just I saw this, it's the curse. It's not even. It's not even so much the curse, but I just sort of thought, you know what? I don't need that right now, and I'm not. I don't even work at Starbucks, but I just thought if your Starbucks management of your Starbucks board. You're looking at Bill ackman saying, well, I'm here. I've got some ideas. Let me share with you. The wisdom that I shared with the people at Cipolla took steak there and Burger King, and you know, I don't want to dump all over Afrin. Even though I just have many because the guy has had some success. But this this just seems like ultimately more of a distraction for Starbucks management than anything. Positive. I agree. I think Starbucks is a business. I'm not. I mean, I'm sure this is. I mean, he's he's in investing in less or a little over one percent of the shares. I gotta feel this got to be a passive investment. I mean, I don't know what value he thinks he can add. I mean, in my mind, Starbucks is a business that has a pretty clear trajectory. There's not really a lot wrong with the business. I know growth has been slower for this isn't a business where I think ackman's coming in saying, oh, here's a problem, or here's something that's undervalued that I think I can create value or add to. And again, I. I don't know why we have to keep talking about Bill ackman. He's definitely a newsmaker, but you start you start telling up the MRs here over the last decade starting with target herbalife and then value pharmaceutical, which was multi billion dollars. I mean, the JC Penney. Right. I mean, it just the list is building here, and so I share your discomfort as a Starbucks shoulder as well. I'm not sure what Bill ackman actually brings to the table anymore. I think he's just looking for an easy win. Frankly, I think given the stretch that he's had and you just listed off some of his Villier failures that will in all of them. I mean, he's had a really tough gov lately, and and I think frankly, he's just looking for an easy win and we were talking about this yesterday. I think it's easy enough to get out there and make fun of ackman for picking Starbucks. Oh, it's no big secret. Everybody knows what Starbucks is, but that's kind of the point to really. And I think we talked about this a lot that really at the end of the day, those great businesses, they're not secrets. They're out there right in front of us since. I mean, he, he in the reasoning behind this. I mean, he listed off a lot of qualities that really we like. The business end. So for me, I mean, I don't think he's going to go there and try to turn things around or shape their strategy whatsoever because he certainly has a history of seeming to think he knows more than he really does in Starbucks is obviously very big company. Obviously, with with management, they're already said on a strategy, I guarantee you, they know more about the business and its future markets than he ever will. So yet to me, I really just think he's looking for an easy win here in that can't blame him. Starbucks is is a is a good business. That's when we like a lot here, and I think that you can hang onto a free longer than three years. Then you'd be better off. You think a doubles, like totally route I would love. I would love to be sitting here three years doing this show talking about how wrong I was to doubt Bill ackman that Starbucks shares had doubled in a three year period. It's such a mature business at this point. As you said, Mattie, the trajectory for Starbucks is pretty clear. If I the bet I'm betting it's higher in three years, but dub. It's a seventy seven billion dollar company. Yeah, I think to me, Starbucks is more of a a total return story. You're looking at dividends looking to buy backs. You're looking at a little bit of growth on the top line. You're looking at what they can do in China. But yeah, double in three years again to for that to happen, there has to be the dreaded financial engineering or something like that. That kind of does that. And you know, acting kind of does bring that to the table. I hope that's not the case to me. Starbucks, steady, ten percent, return her business. Certainly not a double in three years. I'd love to see it, but I think it's also worth remembering too. I mean, Starbucks is probably a witness a little bit more on the expense line there as a pertains to employ ease because they continue to revamp the benefits that they offer. I mean, just a recent example here was was the childcare subsidy, and I think they're, they're expanding that they're expanding that offering to every employee in the company. So I mean as an investor, I think you have to applaud that as a as an employee. I'm sure you'll love that it does it. Perhaps tamp down potential returns in the short run. Yep. Is that the right. Thing to do? Yeah. I think longer term it gives the company more opportunity to succeed to grow in. So those are good things, but we'll definitely play into that returns projection over the course of the next three years. I mean, fifteen percent annualized over the next three years or well, no, you're seeing double over the. Twenty percent. Yeah. Fifteen would be five years that seemed like a really hot hurdle very hurdle. You mentioned financial engineering. I'll just say this. I've never sold a single share of Starbucks in all the years. I've owned it if Eddie Lampert joins the
Sears CEO Eddie Lampert offers 'critical' deal to buy Kenmore brand for $400 million
"He's been parting ways with some of its best known brands such as the deal to sell craftsmen to Stanley black. And, decker last year now Sears CEO Ed Lampert is hoping to keep the core retail business standing by selling the Kenmore appliance. NCIS home, improvement businesses this time though Lampert zoned hedge fund is offering to buy those two divisions for four. Hundred seventy million dollars Lampert. Tells the Sears board he can close the deal in sixty to ninety days no word back yet from. The board of
The cruel one-paisa cut on fuel prices & Ukraine is suspicious of India's defence deal
"For sears the struggling us retailer the company controlled by hedge fund billionaire eddie lampert says it will close at least seventy two stores after four hundred twenty four million dollar loss in the first quarter comparable sales at sears and accompanies other chain kmart fell twelve percent the new ceo of deutsche bank is trying to dispel rumors about the lenders future in the us bloomberg's patrice sequeira has details christian saving told a dinner in berlin although deutsche bank is cutting back on some business in america the us is still the most important market for the bank comments come as employees of the german lender await the outcome of the sweeping job cuts.