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Two of the former owners of Toys "R" Us have agreed to pay million to help laid-off employees.Bain Capital and KKR, private equity firms that owned part of the toy retailer, set up a severance fund to pay former workers who lost their jobs when the company closed its stores.The third owner, real estate firm Vornado, did not join the fund, and did not immediately respond to request for comment.MORE: How the Toys 'R' Us closures massively impact?the U.S.Toys "R" Us filed for bankruptcy a year ago with plans to stay in business. But in March the company's creditors forced it to go out out of business, and the 31,000 remaining employees did not get severance payments.Some top executives at Toys "R" Us received bonuses as part of the bankruptcy process. The nation's bankruptcy laws place limits on the severance payments that can be made to laid-off employees, and they give priority to repaying creditors of the bankrupt companies.Had the employees been laid off before the bankruptcy, they would have been entitled to severance pay of up to one week of pay for every year of service.The million severance fund does not come from Toys "R" Us.The fund was set up following negotiations between the private equity firms and various public interest groups that organized the employees, including Organization United for Respect, Private Equity Stakeholder Project and Center for Popular Democracy."This Fund begins to ensure the hard-working people who spent their lives building Toys 'R' Us and making children happy are not left out in the cold," said Marilyn Muniz, a New York-based Toys "R" employee for nearly 20 years.The groups are seeking additional contributions to the fund from Vornado as well as two Toys "R" Us lenders, Solus and Angelo Gordon, which pushed the company to shutdown operations rather than stay in business. Solus did not respond to a request for comment and Angelo Gordon declined to comment.Tracy Forbes, a former employee who lost her job, told CNN Business that she had worked for the company for 31 years, making her way up to store manager of a Babies "R" Us store in Tempe, Arizona. At the time of the bankruptcy filing she figured she would get about seven months of severance if her store shut down. She said she was shocked when she learned the promised severance wouldn't be paid."It was very difficult," she said. "Here in Arizona, unemployment is only 0 a week. It's not even minimum wage. It was rough. I only got by with friends and family helping me out."After about four months she found a job as an assistant manager of a Home Goods store, which pays less than Babies "R" Us. She said she's kept in touch with the employees who used to work with her at Babies "R" Us."Just about everyone has found some kind of work, but it generally took three or four months," she said. "Some aren't earning as much. Some of the lower-level employees have actually found better paying jobs."The fund has hired attorney Kenneth Feinberg to come up with a formula to determine who gets how much money. Feinberg has made a career deciding distribution to victims of events, such as the terrorist attacks on September 11, 2001, and the BP Deepwater Horizon oil spill. He has proposed that payments go to workers who had been with the company at least a year and who made between ,000 and 0,000 in annual income."In order to maximize the impact of available funds, key eligibility requirements and payment parameters had to be instituted," said Feinberg. Payments are expected to start soon after December 15 and be completed by April.The million fund will not cover a full severance plan for the workers. The employee groups estimate that would take million.The proposed payment schedule provides at least 0 to anyone eligible for payments and as much as ,800 to the top earning employees -- those earning more than 0,000 a year who had been with the company for more than 25 years. Those earning more than 0,000 are not eligible to receive payments from the fund.A more typical employee, one who was earning ,000 a year with 10 years of service, would get ,400 under the plan, or about two-and-half weeks of pay.Former employees can go to www.trufinancialassistancefund.com to find out about how much they might get and to comment on the distribution formula. Depending on the comments, the formula might be adjusted before the payments start. 4424
VALLEY CENTER, Calif. (KGTV) — A week after a cancellation of a holiday tradition at a cemetery in Valley Center, a community wrapped up their campaign to save Christmas for many military families.Because of COVID-related issues, the nonprofit that places more than 300 Christmas wreaths at military grave markers at Valley Center Cemetery announced Friday it wouldn't be able to this year."I just felt defeated ... My heart dropped," said Jenelle Brinemann.Brinemann, a local florist, decided to post on Facebook a call for donations to make wreath sprays, a smaller version of wreaths."It shows we have Christmas spirit still, even during this hard time," said Brinemann.A day later, her driveway was filled was with donated cedar, pine, and ribbons. More than 50 volunteers signed up to help assemble. Kids sent messages to attach to the sprays and on Wednesday, the project was completed."Great way for the town to come together ... shows there's still love in the world," said Brinemann.Among those who stepped up were members of the Green Knights Military Motorcycle Club, who saw our story on the wreath campaign, and volunteered their services.On this day, they escorted the volunteers to the cemetery."We felt we had to help them, because it was the right thing to do. We have to honor our veterans that have gone before us," said club member Tyler Nelson."It was overwhelming. The whole neighborhood turned out, cheering. They had posters. Best Christmas present someone could receive," said Brinemann.At the cemetery, Brinemann and seven others quietly placed the wreath sprays at 311 grave markers."The cemetery just looks like how it should be now," said Brinemann. 1686
U.S. government officials are putting an early end to a study testing an Eli Lilly antibody drug for people hospitalized with COVID-19 because it doesn’t seem to be helping them.Independent monitors had paused enrollment in the study two weeks ago because of a possible safety issue. But on Monday, the National Institute of Allergy and Infectious Diseases, which sponsors the study, said a closer look did not verify a safety problem but found a low chance that the drug would prove helpful for hospitalized patients.It is a setback for one of the most promising treatment approaches for COVID-19. President Donald Trump received a similar experimental, two-antibody drug from Regeneron Pharmaceuticals Inc. on an emergency basis when he was sickened with the coronavirus earlier this month.In a statement Lilly notes that the government is continuing a separate study testing the antibody drug in mild to moderately ill patients, to try to prevent hospitalization and severe illness. The company also is continuing its own studies testing the drug, which is being developed with the Canadian company AbCellera.Antibodies are proteins the body makes when an infection occurs; they attach to a virus and help it be eliminated. The experimental drugs are concentrated versions of one or two specific antibodies that worked best against the coronavirus in lab and animal tests.Lilly and Regeneron have asked the U.S. Food and Drug Administration to grant emergency use authorization for their drugs for COVID-19 while late-stage studies continue. Lilly says its request is based on other results suggesting the drug helps patients who are not hospitalized, and that it will continue to seek the FDA’s permission for emergency use.___The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education. The AP is solely responsible for all content. 1928
UPDATES ON DOWNTOWN PROTEST:UPDATE 10:39 p.m. - San Diego Police declare an unlawful assembly for the area of 1400 Broadway, after police report bottles, fireworks, and other objects being thrown.Earlier reports - Demonstrators continued to protest in Balboa Park at about 10:30 p.m., according to 10News reporter Matt Boone. Hundreds of protesters laid down on their stomachs with their arms behind their back, and chanted "I can't breathe" in honor of George Floyd.— SDPD says demonstrations at the Hillcrest Pride Flag were largely peaceful, noting one person was arrested for vandalism around 9:30 p.m.— At about 8:30 p.m., 10News reporter Matt Boone reported protesters gathered at the edge of Balboa Park in Bankers Hill held a moment of silence and lied down, chanting “I can’t breathe.” The majority of crowd dispersed in different directions.— Police say "sporadic acts of vandalism" were also reported near Balboa Park and downtown around 8:10 p.m.Original story follows...SAN DIEGO (KGTV) — About 150 people gathered in Balboa Park on Monday to demonstrate against purported police mistreatment of people of color.San Diego Police said officers are facilitating the peaceful demonstration "to ensure everyone remains safe." "Approximately 150 people protesting peacefully through Balboa Park right now. We are facilitating this protest to ensure everyone remains safe," SDPD tweeted.Some freeway on- and off-ramps have been closed as a precaution. Closures include westbound state Route 94 to F Street, the First Avenue entrance to southbound I-5, and the southbound I-5 exits to 10th Avenue and Front Street, according to California Highway Patrol. Updated traffic conditions can be found here.By about 2 p.m., demonstrators had made their way to the San Diego Zoo, chanting "No Justice, no peace. No racist police," and the name of George Floyd, who died Memorial Day in Minneapolis after being taken into police custody, City News Service reported.The group eventually marched toward the San Diego Police Department, where they gathered in the early evening to continue their demonstration. Many marched back to Balboa Park afterward.Protest leaders could be heard urging those marching not to commit vandalism and use chalk to leave messages on the sidewalk, CNS added.Monday's protest comes on the heels of demonstrations in downtown San Diego on Sunday and La Mesa on Saturday. Both protests started peacefully. Later in evening, both days saw instances of looting and vandalism by individuals, though it's unclear if those individuals were part of the earlier demonstrations or only there take advantage of the situation.RELATED: Gov. Newsom condemns looters taking advantage of legitimate protestsLooters smash windows, rob stores in downtown San DiegoLa Mesa community comes together to clean up downtown after Saturday riots 2853
TVs steal the Black Friday spotlight year after year, for good reason: Electronics retailers, big-box stores and wholesale clubs all cut prices on TVs of different brands, sizes and resolutions. In the past, retailers often reserved the biggest deals for in-store shoppers. But with the pandemic still going on, there’s a good chance you’ll see more online doorbusters than ever this year.Many TV bargains kick off at specific times or will be available in limited quantities, so you’ll have a better shot at them if you act fast. Check out our deal breakdown below.What are the best Black Friday TV deals in 2020?Retailers’ Black Friday TV deals are starting to land. Here are some of our top picks:Amazon is advertising discounts on select Samsung and Sony TVs, plus up to 25% savings on TVs 75 inches and larger.Best Buy’s sale will include a 70-inch Samsung 4K Smart TV for 9.99 (0 savings). This deal is only in stores, beginning Sunday, Nov. 22.Best Buy is also shaving 0 off the Insignia 50-inch Class LED 4K UHD Smart Fire TV Edition TV (on sale for 9.99, regularly 9.99). The TV will be available in limited supply starting Nov. 26 online.Costco’s sale features several TVs, including a Samsung 70-inch Class Q6DT Series 4K UHD QLED LCD TV for 9.99. It comes with a Allstate Protection Plan bundle and a six-month Showtime credit. The deal is available online and in stores through Nov. 30.Dell is selling a 65-inch LG OLED 4K Smart Ultra HDTV for ,999 (0 savings).Target has a 65-inch TCL 4K UHD HDR Smart Android TV in limited quantities for 9.99 (regularly 9.99). The sale starts Nov. 22 online and in stores.Target also has a 65-inch Sony UHD HDR Smart Android TV for 9.99 (regularly 9.99). Shoppers can get a Target gift card free with the purchase.Walmart is offering a Vizio 70-inch Class 4K UHD TV for 8, online only in limited numbers. The deal launches Wednesday, Nov. 25 at 7 p.m. ET.What were the best Black Friday TV deals in 2019?In 2019, as in past years, you could find TVs on sale almost anywhere you looked. But major Black Friday players like Target and Best Buy lived up to their reputations, serving up supreme savings.Best Buy’s sale included the Insignia 58-inch 4K UHD HDR LED smart TV with Fire TV and Amazon Echo Dot for 9.99 (0 off).Dell offered a Vizio 65-inch 4K UHD HDR smart TV for 9.99 (0 off), plus a Dell eGift card. The doorbuster deal started Nov. 28 at 11 p.m. ET.Target sold a 50-inch Westinghouse Roku 4K HDR UHD smart TV for 9.99 (0 off, in-store only).How to decide if it’s worth itIf you need a TV upgrade, now might be the time to act, especially if you’re expecting to hunker down indoors this winter.However, Black Friday isn’t the only opportune time to buy a TV. Discounts are also common in January and February — close to the Super Bowl — and around the time new models hit shelves, which is usually in spring.How to budget for a TVBefore you drop several hundred dollars on a new TV, decide how much you can comfortably afford to spend on Black Friday purchases. You can use a budget calculator as a guide for distributing your monthly income toward different expense categories.More From NerdWalletApple Watch Black Friday 2020 Deals: Are They Worth It?Do These Things to Keep Your Holiday Packages SafeHow to Get the Best Amazon Black Friday 2020 DealsLauren Schwahn is a writer at NerdWallet. Email: lschwahn@nerdwallet.com. Twitter: @lauren_schwahn. 3488