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Sears is seeking court approval to pay executives as much as million in quarterly bonuses while the company struggles to restructure in bankruptcy.Three top executives could get nearly million each if the company goes out of business. If Sears remains in business, they could get nearly 0,000 each for hitting the top performance targets.Sears filed two different types of bonus plans in bankruptcy court?Thursday. The first is for the top 18 "key" executives, who would collectively get as much as .1 million per quarter. The bonuses would only be paid in full if Sears reaches its cash-flow targets. Sears Holdings, which includes both Sears and Kmart, has been burning through cash at a rate of about 5 million a month.A second retention bonus plan was designed to encourage 322 other unnamed executives to stay put during Sears' reorganization. They would collectively get .9 million a quarter, which works out to an average of about ,000 per quarter per executive. No executive could receive more the 0,000 in bonuses for staying with the company during the bankruptcy process.A judge's approval is needed before the bonuses could be paid. A hearing on the plans is set for December 20.The company wants to retain as many executives as it can, but Sears is laying off employees who staffed?hundreds of stores it is closing. Many hourly workers claim they will not be paid severance.Shelia Brewer, who worked for 17 years as a full-time hourly employee at a Kmart in Rockford Illinois, said the company told her she'd get eight weeks of severance. Instead, she received a letter saying that severance payments were being halted because of the bankruptcy, and she would get only the four weeks of pay she had already received."It hit me hard. I was already struggling as it was," she said. She said the bonus plan makes her angry."They say we can't get our severance because there's no money, but they're getting bonuses? It's like a slap in the face," she said.A Sears spokesman declined to comment on the bonus plan or its current severance policy.Eddie Lampert, the company's primary shareholder and chairman, apparently will not receive a bonus, according to the filing.The three top executives who were given the responsibility for running the company during its reorganization are in position for the largest bonuses. They are Chief Financial Officer Robert Riecker, Chief Digital Officer Leena Munjal and Gregory Ladley, president of the company's clothing and footwear business.Each could receive as much as 0,000 a quarter in bonus payments for hitting the maximum cash flow targets. They could receive four times that much if Sears goes out of business, in something the company called an "acceleration event."Retention bonuses for top executives are not unusual when companies go bankrupt. But bankruptcy law limits how much severance companies can pay.Toys "R" Us won approval for up to million in bonuses for 17 top executives a year ago during its failed attempt to stay in business, despite objections from employees groups and others."It's outrageous that the bankruptcy court is considering bonuses for Sears' high paid executives while laid off employees get their severance pay cut off," said Carrie Gleason, campaign manager for Rise Up Retail, a retail employee advocacy group. "This is exactly what happened at Toys 'R' Us. A handful of executives who couldn't save the company got millions in bonuses while tens of thousands of dedicated employees were denied their promised severance pay." 3581
(AP) — The head of a Chinese government expert team says human-to-human transmission has been confirmed in an outbreak of a new coronavirus. State media said Monday that the leader of the National Health Commission team said two people in southern China caught the diseases from family members. The English-language China Daily newspaper said the National Health Commission task force also found that some medical workers have tested positive for the virus. Human-to-human transmission could make the virus spread more quickly and widely. The outbreak is believed to have started from people who picked it up at a fresh food market in the city of Wuhan in central China. 678
(CNN) -- A man who was mistakenly circumcised in a hospital mix-up has been awarded compensation, the hospital said.Terry Brazier, aged 70, went into Leicester Royal Infirmary for a bladder procedure known as a cystoscopy but was mistaken for another patient by hospital staff and circumcised.The hospital apologized and carried out an investigation, before confirming on Monday it had awarded Brazier a £20,000 (,300) payout.Brazier told the British newspaper the Daily Star that he was so distracted talking to hospital staff that he didn't notice he was getting the incorrect procedure until it was too late."They didn't know what to say when they found out they'd done it, they said they can't send me back to the ward and they needed to talk to me," he told the newspaper.Brazier added that finding out he had been circumcised was "a real surprise."Andrew Furlong, medical director at University Hospitals of Leicester, said in a statement: "We remain deeply and genuinely sorry that this mistake occurred, and I would like to take this opportunity to once again apologise to Mr Brazier.""We take events like this very seriously and carried out a thorough investigation at the time to ensure that we learnt from this incident and do all we can to avoid it happening again. Whilst money can never undo what happened, we hope this payment provides some compensation." 1381
View this post on Instagram DA CRIB.... ?? 2 day event A post shared by CHRIS BROWN (@chrisbrownofficial) on Nov 4, 2019 at 9:57pm PST 155
SAN DIEGO (KGTV) — The San Diego Planning commission Thursday voted to recommend a zoning change for a massive office complex along State route 56 in Torrey Highlands.The site in question is an 11-acre site just south of SR-56 near Camino Del Sur, surrounded on three sides by the Del Mar Mesa Preserve. Cisterra Development plans to build a 450,000-square-foot office complex, including a 7-story parking structure."Right now, San Diego is on the verge of a shortage of employment-suitable land for the kinds of innovation economy jobs that ... are coming to San Diego now. We need large lots of space for companies like Apple, Google, and Microsoft ... We try to bring homes near jobs, but we also need to bring jobs near homes. There are thousands of homes in the area," said David Dick of Cisterra Development.According to Cisterra, the project will lead to more than 1,900 jobs, described as "permanent and high-wage."Darshana Patel, a member of the Rancho Penasquitos Planning Board, is skeptical. She points to a nearby, even-larger office complex approved in 2013."It's approved, graded, and no one's interested. Also, these jobs are highly specialized. It's no given that our neighbors will fill these positions," said Patel.What Patel is sure of are the other impacts of the project, from more traffic in a highly congested area, to environmental impacts. One by one, dozens sounded their concern at a Planning Commission meeting, including members of planning, environmental and recreational groups. The connected preserves include protected vernal pools."It will permanently negatively impact one of the last remaining untrampled areas of native habitat and open space in San Diego," said Susie Murphy, Executive Director of the San Diego Mountain Biking Association."We are going to have human activity in the preserve. We'll have animal activity that will have to maneuver around it. It's a big concern," said Patel."It doesn't intrude into the preserve. The way it's designed protects against intrusion into preserve," said Dick.The developers point to natural barriers, including trees, and other project features aimed at reducing runoff and bird strikes. Opponents say those provisions don't go far enough.In the end, the commission unanimously voted to recommend the project with a modest reduction to the size. The proposed zoning change now moves on to the full council for a vote. Opponents say the size reduction is not adequate and say all options, including legal action, are on the table. 2524