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Sears desperately needs money to keep it afloat during bankruptcy. And now the deadline is getting tighter.The retailer, which filed for bankruptcy on Oct. 15, has already gotten a 0 million loan to help fund its operations while it tries to reorganize. It warned the day it filed that it would need an additional 0 million loan within weeks or else its ability to stay in business would be "seriously jeopardized."But now Sears has postponed a hearing that was set for November 1 to win bankruptcy court approval of such a loan, according to a court document filed Wednesday. No new meeting date was set.Sears declined to comment on the delay.A hedge fund owned by Eddie Lampert, who is also Sears chairman and majority shareholder, was expected to lead financing of the 0 million loan.CNBC reported Thursday that Lampert is looking to ensure that his hedge fund would get paid back first when it comes time for Sears to reimburse its creditors. Specifically, Lampert wants his ESL Investments hedge fund to have the same status as major banks like Wells Fargo and Citigroup that provided the initial 0 million loan, CNBC reported.Meanwhile, Sears is bleeding money. It said it is burning through cash at a rate of 5 million a month, according to its first-day filings.The 132-year-old company has been struggling for several years and is already drowning in debt. It was forced to file for bankruptcy when it came time to make a 4 million debt payment but didn't have the cash.Lampert, who gave up the CEO role at Sears as part of the filing, has been loaning money to Sears for years. But he has always taken steps to ensure that his loans are backed by hard assets, such as real estate or credit card balances, to improve his chances of having the loan repaid even in the case of bankruptcy. Even if Sears liquidates, he'll end up holding real estate worth hundreds of millions of dollars.Lampert is the company's largest creditor. He's owed at least .6 billion. 2024
SCRIPPS RANCH, Calif. (KGTV) - A proposal to sell Alliant International University's land in Scripps Ranch has neighbors worried.Thursday, the San Diego Planning Commission will hear a proposal to re-zone 72 acres of land at the University to be used for low-to-medium residential. That would allow up to 700 homes to be built on the site. To re-zone, the Scripps Ranch Community Plan will need to be amended. The vote Thursday will be to begin the amendment process.People who live nearby say adding hundreds of homes would be a nightmare for traffic and a disaster for wildfire evacuations."We're not opposed to development, but not for development's sake," says Kristin Rayder, the President of the Scripps Ranch Fire Safety Council. "It has to be safe."Rayder and the Council voted to tell the Planning Commission not to approve change to the Community Plan. So did the Scripps Ranch Planning Group.They say Pomerado Road can't handle the extra traffic, neither can the Avenue of the Americas, which leads to the University and is shared by Thurgood Marshall Middle School."If you come out here in the morning on a school day, you see what the chaos is on this narrow little road here and why it would be unacceptable to have another thousand cars a day on this small road that goes right in front of the school with no sidewalks," says Wally Wulfeck, the Planning Group Chair.They're also worried about what could happen if a wildfire ever threatens the area.People who live nearby, like Wulfeck and Rayder, still have vivid memories of the 2003 Cedar Fire and the 2007 Witch Creek Fire. In both fires, the areas around Pomerado Road had to be evacuated."We were leaving our home and looking to the right, I saw a wall of fire," says Rayder. "That was Pomerado Road. I'll never forget that look.""My house was one of the last to burn," says Wulfeck. "I watched it on TV."In an email to 10News, the Alliant University Foundation, which owns the land, says the school will be moving to a new campus in the coming years, and they're still in the early stages of the plan to sell the land."The university is still leasing a portion of the property and buildings and will likely be a tenant for a few more years under the current agreements. The foundation which owns the property placed it on the market in January of 2018 and entered into an agreement with an interested party in the fall of last year. The proposed use of the land is planned by the buyer in such cases."10News has learned that KB Home is the "interested party" mentioned in the email. When asked about the neighbors' concerns, they sent a statement reading, "KG Home can't comment on land we don't control or own." 2696
Scientists and medical professionals across the country are working to learn about the coronavirus’s effect on children. There's still a lot they don't know about how the virus affects children.With children often not showing as many symptoms as adults, experts say kids can help us learn more about the novel coronavirus. Dr. Beth Thielen, a pediatric infectious disease physician and professor at the University of Minnesota, says people could be looking to children, especially as they go back to school, to find out more about the coronavirus."I mean, I hope so. I think this provides a very rich opportunity to understand a lot of basic things about the immune system and why diseases manifest differently in adults and children," says Dr. Thielen.Dr. Thielen says from possible protective measures of the MMR vaccine in children to t-cells, there's so much people can learn from how children's bodies combat viruses."It is thought that t-cells play a substantial role in helping to clear viral infections from the lungs. There are people looking at t-cell responses but they've lagged a bit behind with the data coming out on t-cell responses hasn’t been as prominent as the antibody studies," says Dr. Thielen. She adds, the reason people are looking at t-cells and children is because t-cells decline with age."I think they are critical. We all have them, they work to protect us from infection and potentially they are more efficacious in younger people potentially. Although, I think that really hasn’t been clearly worked out for SARS COV2," says Dr. Thielen.Dr. Jay Varkey, an epidemiologist at Emory Hospital in Atlanta, Georgia, agrees. Dr. Varkey says scientists are also looking into why children older than 10 years old, are more likely to have more serious symptoms with COVID-19."I think the reasons for that are complex. I think part of that might be related to some sort of existing t-cell immunity, and to what that is whether that’s to memory cells that are acting against a previous seasonal coronavirus that would just cause cold like symptoms, or whether its related to something more complex -- I don't think we’re there in terms of understanding," says Dr. Varkey.Dr. Varkey says, while children can help us understand COVID-19 better, it's also up to the adults to make sure they're growing up in a healthy, safe environment."We will learn much from kids but one of the messages we’ve been emphasizing in the hospital is that if we, again- and I answer this both not just as an infectious disease physician but also as a parent to two school age kids--we as adults have a responsibility to try and make our community safe to actually allow in-person learning," says Dr. Varkey."I think that we often think of children as getting a lot of these infections and the fact of the matter is most adults are getting exposed, as well, but our immune systems are sort of experienced at seeing them and we don't get sick," says Dr. Thielen.Dr. Thielen is a member of the Pediatric Infectious Disease Society and says she and other doctors in their scientific groups are advocating for more pediatric research to truly understand how certain diseases, including COVID-19, behave in children. 3217
SANTA ANA, Calif. (CNS) - Kobe Bryant's widow, Vanessa, responded Thursday to a lawsuit filed against her by her mother demanding financial support and claiming the late Laker legend had vowed to take care of her financially for life.In a statement posted online, Vanessa Bryant accused her mother -- Sofia Urbieta Laine -- accused her mother of trying to "extort a financial windfall from our family." Bryant said she and her husband long supported her, allowing her to live in their properties free of charge."She was a grandmother who was supported by me and her son-in-law at my request," Bryant said. "She now wants to back charge me per hour for supposedly working 12 hours a day for 18 years for watching her grandchildren. In reality, she only occasionally babysat my older girls when they were toddlers."Bryant said she has tried to make peace with her mother to no avail."Earlier this year, I was looking for a new home for her and, a week later, she went on television and gave an interview disparaging our family and making false accusations while living rent-free in a gated apartment complex in Newport Coast," she said. "Even after that betrayal, I was willing to provide my mother with monthly support for the rest of her life and that wasn't good enough. She, instead, contacted me through intermediaries -- contrary to what she claims, my phone number hasn't changed -- and demanded million, a house and a Mercedes SUV."Bryant said she refused, causing her mother to make "false and absurd claims" while demanding "more money than my husband and I ever spent to provide for her while he was alive.""She has no regard for how this is affecting my children and me," Bryant said. "She wants to live off of my daughters and me for the rest of her life while continuing to collect monthly alimony from her ex-husband since 2004. My husband and I have never discouraged or kept her from providing for herself. This lawsuit is frivolous, disgraceful and unimaginably hurtful. My husband never promised my mother anything, and he would be so disappointed in her behavior and lack of empathy."Laine filed a lawsuit Tuesday in Orange County Superior Court.First reported by People magazine, the lawsuit claims that Laine worked as "a longtime personal assistant and nanny" for her daughter and Kobe Bryant. The suit also claims that Kobe Bryant had "promised to take care of (Laine) for the rest of her life.""Unfortunately, Kobe Bryant's promises did not see the light of day as he is now deceased, and Vanessa Bryant took each and every step she could to void and cancel all of Kobe Bryant's promises made to (Laine)," according to the suit. "Vanessa Bryant did not intend to honor any of the Bryants' representations, agreements and promises at any stage."The suit claims Laine, while serving as a nanny for the Bryants, worked around the clock without being afforded meal or rest breaks, while also working holidays and weekends. She also claims Vanessa Bryant forced her out of the home she was living in while Kobe Bryant was alive.Kobe Bryant and his 13-year-old daughter Gianna were killed in a January helicopter crash in Calabasas that also claimed the lives of seven other people. 3214
SANDY SPRINGS, Ga. – A babysitter in Georgia has been charged with the murder of a 2-year-old girl who was under her care.The Sandy Springs Police Department said in a statement Tuesday that it began investigating on Dec. 9, when it received a report of an unresponsive child inside an apartment.First responders rushed the girl to an Atlanta-area hospital, where police say she was pronounced dead by medical personnel.Detectives say the child had been in the care of her babysitter at the time, 29-year-old Kirstie Flood.Later, police say an autopsy performed on the child revealed she suffered severe injuries that resulted in her death while under the care of Flood.Flood has since been arrested and charged with two counts of felony murder, one count of malice murder, one count of aggravated battery, and one count of cruelty to children.The police department didn’t release the identity of the victim. However, loved ones have told news outlets in the Atlanta area that the girl’s name was Fallon Fridley.Fallon’s parents told WSB-TV that Flood had been their full-time babysitter since August and they never suspected she would be capable of something like this.According to a warrant obtained by WSB-TV, police allegedly discovered Flood had been searching things on her phone, like “what type of people enjoy abusing other people’s children” and “what does it mean to have a sudden urge to beat a child that’s not yours.”Authorities are continuing to investigate. Anyone with information about this incident is asked to contact Detective Delaney by email at WDelaney@SandySpringsGA.Gov or by calling 770-551-3313. 1631