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Sears is getting serious about selling Kenmore.The struggling retailer announced Monday that it had formed a "special committee" to explore the sale of its in-house appliance brand.The move comes less than a month after Sears CEO Eddie Lampert wrote a letter to the board urging it to sell the brand. He offered to buy it himself if necessary, along with other assets.There is a good chance that Lampert will be the one buying Kenmore.Through his hedge fund, ESL Investments, Lampert owns a majority of shares in Sears Holding, the company that owns the Sears and Kmart chains.Sears has been exploring a possible sale of Kenmore and other assets for a number of years but never found a buyer. But this week it escalated its efforts by forming the "special committee," retaining counsel and bringing on an investment bank.The announcement was enough to briefly lift Sears shares 19% in early trading Monday, before they retreated to more modest gains of about 6%.Shares are still near historic lows. The retailer has admitted "substantial doubts" exist that it will be able to remain in business.Lampert has insisted that the company is on a path to return to profitability. But it is in need of cash and has been closing stores, cutting costs and getting creditors to agree to a longer repayment schedule on its debt. Because of that delayed repayment schedule, Sears was judged to be in default of some of its loans earlier this year.In early 2017 Sears sold its Craftsman tool brand to Stanley Black & Decker in a deal valued at 0 million. The Craftsman tools went on sale at rival Lowe's for the first time Monday.The board says it is looking at selling other assets, including its parts business and home services businesses, both of which Lampert has expressed interest in buying. 1806
SANTEE, Calif. (KGTV) -- A Santee business is empowering veterans to help heal themselves and become independent with yoga.The veterans behind the program say it’s a union of mind and body that can also lead to a paycheck. The business is called Hot Yoga and it’s located in Santee.The business was opened two years ago by Marine veteran John Szczepanowski. John is a combat veteran whose service spans decades including the Persian Gulf in 1989 and later in Iraq and Afghanistan.John retired from the military in 2014 and discovered yoga a year later thanks to a friend. John dove in and became certified as a yoga instructor.The practice was something he wanted to share with others, specifically infantry men and women and Navy corpsman who serve on the front lines.10News was able to capture a day of classes in which 1o active-duty military members took part.Those in attendance had the opportunity not only to see how it feels, but to explore a skill they may use to support themselves.John says if they choose, the veterans can apply for what he is calling a “Warrior Yoga Scholarship” which will provide them with tuition if they choose to become a certified yoga instructor.For more information click here. 1229
SAN YSIDRO (CNS) - A 68-year-old man was struck by an SUV and killed crossing a street outside of a crosswalk in San Ysidro, police said this morning.The accident occurred near a Shell gas station in the 300 block of East San Ysidro Boulevard near Border Village Road about 9:25 p.m. Friday, according to Officer Robert Heims of the San Diego Police Department.A 45-year-old woman driving a 2016 Dodge Journey made a left turn out of the gas station parking lot onto East San Ysidro Boulevard at the same time the man attempted to cross from the south side of the street to the north side, Heims said.The man was struck by the vehicle and taken to a hospital, where he was pronounced dead, he said.Alcohol was not considered a factor in the crash and the person at fault was yet to be determined, Heims said.Anyone with information on this deadly crash was asked to call Traffic Division investigators at 858-495-7800 or Crime Stoppers at 888-580-8477. 960
SAN YSIDRO, Calif. (KGTV) -- San Diego Fire-Rescue is on scene of a brush fire burning in San Ysidro Monday afternoon. According to department spokeswoman Mónica Mu?oz, the fire sparked near State Route 905 west and Caliente Avenue in an area near San Ysidro High School. The fire burned about one and a half acres before the forward rate of spread was stopped. No structures were threatened and no one was injured, according to Mu?oz.Three San Diego Fire-Rescue engines and two federal fire brush engines and a helicopter team responded to the blaze. Watch video of the fire below: 591
Saudi prosecutors said Thursday they would seek the death penalty for five people allegedly involved in the murder of journalist Jamal Khashoggi.A total of 11 people were charged, the Saudi Public Prosecutor's office said, adding that the five people facing capital punishment were directly involved in "ordering and executing the crime."The Saudis have presented shifting stories about the journalist's death, initially denying any knowledge before arguing that a group of rogue operators were responsible for his death.After Saudi Arabia admitted that Khashoggi was killed in its Istanbul consulate, five high-ranking officials were dismissed, including bin Salman's media chief and the deputy head of the Saudi intelligence service.The-CNN-Wire 755