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For years, Toys "R" Us was an American success story.Now the discount toy retailer is in its final chapter. The company filed for bankruptcy in September. On Wednesday, Toys "R" Us told employees that it would close or sell all its stores in the United States.It's an ignominious end for the company that was once the toy industry's powerhouse. In the second half of the 20th century, just after the Baby Boom, Toys "R" Us grew into a dominant retail chain thanks to its low prices and a knack for keeping the nation's hottest toys in stock."Toys 'R' Us, Big Kid on the Block, Won't Stop Growing," a Wall Street Journal headline blared in 1988.It all started in 1948, when Charles Lazarus, age 25, opened a baby furniture store called Children's Bargain Town in Washington, D.C. He knew Americans returning from World War II were starting families and needed somewhere to stock up on nursery decor.But before long, Lazarus discovered that the real money was not in cribs, but in toys.Toys break, or go out of fashion — which means parents need to go to the store more often, Toys "R" Us explains in its online company history.In 1957, Lazarus opened his first store stocked only with toys. It was modeled after a supermarket, with items stocked high on shelves and a wide assortment of choices. He named it Toys "R" Us — with a backwards "R" in the logo that was supposed to look it it was drawn by a kid.The mainstays of the iconic Toys "R" Us marketing campaigns emerged over the next two decade. Dr. G. Raffe, which had been used to advertise Children's Bargain Town, became "Geoffrey."In a Washington Post ad from 1970, an eager Geoffrey touted "super giraffic selections" inside "super giraffic stores!" Geoffrey made his first TV appearance in 1973. The "I don't want to grow up" jingle made its debut in the early 1980s.In the meantime, Toys "R" Us was booming.The company went public in 1978 after the bankruptcy of onetime parent Interstate Stores. It quickly became a Wall Street favorite. In 1980, the Los Angeles Times called Toys 'R' Us "one of the New York Stock Exchange's hottest stocks.""What we are is a supermarket for toys," Lazarus told the Washington Post in 1981. "We don't have a competitor in variety. There is none."The Washington Post story favorably compared Toys "R" Us to another American giant: McDonald's."Like McDonald's, with its regimented service and standardized burgers and fries, Toys 'R' Us has become an American institution," the article said.Toys 'R' Us was also known in the corporate world for its sophisticated use of computers."One thing that sets the Toys 'R' Us operation apart is that Mr. Lazarus knows precisely what his customers are buying," a 1985 Wall Street Journal article said. "Each product is tracked by computer, and that helps the chain spot hot-selling items weeks before most competitors do."Lazarus also kept his stores stocked with a variety of baby products, like diapers and formula, so shoppers would have a reason to shop year-round.Things started to go awry in the 1990s. In 1994, Lazarus stepped down as CEO. But the biggest change came when Walmart started offering lower prices on diapers, according to toy industry analyst Jim Silver.While Toys "R" Us remained a destination during the holidays, it lost regular shoppers during the rest of the year."That changed everything," Silver said.In 2001, Toys "R" Us opened a flagship store in Times Square, complete with a 60-foot Ferris wheel and a life-size Barbie dollhouse, in order to juice enthusiasm. But the costs were "astronomical," Silver said.On shaky ground, Toys "R" Us was taken private by a group of private equity firms in 2005. Bain Capital, Kohlberg Kravis Roberts & Co. and Vornado Realty Trust bought the company for .6 billion.Saddled with debt, the store was not able to pour enough money into necessary, innovative changes. By the time Amazon ruled the online shopping ecosystem, Toys "R" Us was lightyears behind — despite an early partnership with Amazon in 2000. The agreement to jointly sell toys online ultimately went sour and ended after a court fight."Walmart had a better online experience. Target had a better online experience," Silver said. "They lost online and they didn't adapt."In 2015, Toys "R" Us closed its Times Square mega-store. It was the beginning of the end.A dismal 2017 holiday season was the death knell. Toys "R" Us will run out of cash in the United States in May 2018, according to a recent bankruptcy filing."Everything is up for sale," Toys "R" Us CEO David Brandon told employees on a conference call earlier this week. 4609

For the first time since July, the White House’s coronavirus task force delivered a briefing on Thursday as cases reach record levels throughout the US.President Donald Trump did not participate in Thursday's news briefing. The president has not had any public events this week. The coronavirus task force encouraged Americans to remain vigilant and practice social distancing guidelines as the virus spreads throughout the US.Dr. Anthony Fauci, the federal government’s top infectious disease expert, said that the “cavalry is coming.” He said recent developments of a pair of vaccines showing an effectiveness of 95% should give Americans confidence to get a vaccine once they become available.“The process of the speed did not compromise at all the safety nor did it compromised the scientific integrity,” Fauci said. “It was a reflection of extraordinary scientific advances in these types of vaccines which allowed us to do things in months that actually took years before but I really want to settle that concern that people have about that.”While the tone from the White House coronavirus task force was against lockdowns, states across the country have reimplemented some shutdowns of and limits to businesses. Notably, much of California will go under a curfew nightly from 10 p.m. to 5 a.m."We will be getting vaccine doses to people who are high priority at the end of December," Fauci said. "We aren't talking about shutting down the country. We are talking about locking down. We are talking about simple public health measures that we all talked about mask wearing, distancing, avoiding congregate settings, doing things to the extent that we can outdoors versus indoors and if we do that we'll be able to hold things off until the vaccine comes."Vice President Mike Pence says that the US will have 100 million doses of a vaccine ready to begin distribution as soon as an emergency use authorization is granted. General Gustave Perna, who is leading the government's distribution efforts of a vaccine said that when an emergency use authorization is given, the first doses of a vaccine will be distributed within 24 hours. Pfizer says its vaccine candidate could seek emergency use authorization from the FDA as soon as Friday.Distribution will be a challenge as the leading coronavirus vaccines have to be stored at extremely cold conditions.Perna said that the federal government is working with states on setting up places for a vaccine to be availble. The vaccines can be distributed from hospitals down to a local Walgreens or CVS. "We will distribute the vaccine accordingly," Perna said. "We want the vaccines at the places where the American people are comfortable; at our hospitals, our doctors offices, CVS, Walgreens and the health care facilities, places where people are comfortable going. That's where we started"Thursday’s briefing comes on the same day that the CDC urged Americans not to travel for the Thanksgiving holiday and asked Americans to only celebrate the holiday with those in their household.Earlier this week, task force member Dr. Scott Atlas criticized public health experts for advising Americans not to celebrate Thanksgiving with family. Atlas’ stance is an outlier among experts.On Wednesday, the number of coronavirus-related deaths since the start of the pandemic passed 250,000 in the United States. On Wednesday alone, more than 1,800 deaths were reported throughout the US, marking the most in a single day since the spring. 3488

For millions of college students, this election will be their first time being able to vote for the President of the United States. While some students have been waiting for this opportunity for years, historically, many others may not even end up casting a ballot. Two groups who are responsible for mobilizing first-time voters on college campuses are the College Democrats and College Republicans. Both are national organizations with chapters on most university campuses. COVID-19 CHALLENGESIn a normal election year, Democrat and Republican clubs on campuses like Arizona State University would host almost daily events in the run-up to the election. Pizza parties, free food and guest speakers all serve the purpose of getting first-time voters registered and excited to participate in the election. But on many campuses this year, in-person events are banned, or at the very least, restricted. "This semester is obviously presenting a challenge," said Clay Robinson, vice president of the College Republicans at ASU.Robinson said one major impact has been the inability to set up tables near busy parts of campus to attract new members. As a result, membership has been slightly off. "Usually we’d be having in-person events, we’d be offering free food," Robinson said. The College Democrats have also seen an impact, potentially problematic for Democrats in Arizona since college students tend to vote more progressive. "I don't come on campus at all," said Cameron Adams, president of the ASU Young Democrats.Adams says in addition to missing in-person events, she misses knocking on doors for candidates. "We are known as the powerhouse of knocking on doors, so it's really different to not be doing that, Adams said. "I miss it so much."HOW THEY'VE BEEN MOBILIZING Both Robinson and Adams say they've been holding virtual meet-ups on Zoom, and the response has actually been better than expected. "I've actually been surprised how many people we’ve been able to keep coming to meetings," Robinson said. Adams says speakers have also been willing to participate remotely, which gives the group reasons to come together. "We’ve been having debate watch parties," Adams added. Whether or not this impacts results is unclear, but it is clear that college political groups have been impacted in one of the most important elections in recent memory. 2363

For the first time in nearly 50 years, older workers face higher unemployment than their midcareer counterparts, according to a study released Tuesday by the New School university in New York City.The pandemic has wreaked havoc on employment for people of all ages. But researchers found that during its course, workers 55 and older lost jobs sooner, were rehired slower and continue to face higher job losses than their counterparts ages 35 to 54.It is the first time since 1973 that such a severe unemployment gap has persisted for six months or longer.AARP said the study bolstered concerns about the economic impact of the virus on on older workers. When people over 50 lose their jobs, it typically takes them twice as long to find work as it does for younger workers, the organization representing the interests of older Americans estimates.The pandemic “may be something that is pushing people out of the workforce and they may never get back in,” said Susan Weinstock, AARP’s vice president of financial resilience programing.In every recession since the 1970s, older workers had persistently lower unemployment rates than midcareer workers — partly because of seniority benefits.But in the current recession, older workers experienced higher unemployment rates than midcareer workers in each month since the onset of the pandemic.The older workers’ unemployment rates from April through September were 1.1 percentage points higher than mid-career workers — at 9.7% versus 8.6%. The rates were compiled using a six-month rolling average and were far worse for older workers who are black, female or lack college degrees.Among the newly unemployed older workers is Legasse Gamo, 65. He was laid off in March from his job as a baggage handler at Reagan National airport in the Washington suburb of Arlington, Virginia.While Gamo is afraid of exposing himself to the coronavirus by working around others, he said he has looked for work — because he feels he has little choice but to take any job he can find.The contractor he worked for, Eulen America, has required its laid off employees to reapply for their jobs. Gamo did so but said he has received no reply.The immigrant from Ethiopia supports three grandchildren, ages 6, 12 and 14, who live with him. His daughter is still employed, but her pay is not enough to cover their expenses. Gamo gets 0 a week in unemployment insurance payments and said he has spent almost all of his savings.“I just want to get back to my job as soon as possible to support my family because I’m afraid we will end up homeless,” Gamo said.The New School study focused only on workers with established careers. As a result, it did not examine workers younger than 35.It found that the pandemic has posed a unique risk for older workers, said Teresa Ghilarducci, director of the New School’s Schwartz Center for Economic Policy Analysis.“The higher rate of unemployment for older workers might be because this is a once-in-a-lifetime chance for employers to shed older workers and not fear investigation by the labor department,” Ghilarducci said.She added: “Age discrimination rules are not being tightly enforced. Employers, fearing economic instability, may want to get rid of relatively more expensive workers and take their chances with training new workers when the economy recovers.”Older workers often face age discrimination, making it difficult for them to find jobs. Researchers believe employers laid off and resisted rehiring older adults, in part because they tend to face more serious health risks when infected by the virus.The unemployment spike for older workers could force more of them into early and involuntary retirement, worsen their financial well-being and exacerbate financial disparities already experienced by women, minorities and people without college degrees in terms of retirement security.New School researchers estimated that 1.4 million workers over 55 remain lost their jobs since April and remain unemployed. The figure does not include workers who became unemployed in April and left the work force.The situation could have deep ramifications for older workers close to retirement because their final years on the job are critical for those who have not saved enough for their retirement and expect to work longer to shore up their retirement funds.“Retirement security is very fragile and a lot of them never recovered from the recession in the first place,” said Weinstock, of the AARP. “They were planning on working to make up for money they hadn’t saved and then they aren’t able to make those catch up payments they need.”The Schwartz Center for Economic Policy Analysis at the New School has estimated in research separate from Monday’s study that 43 million people now in their fifties and early sixties will be poor when they become elderly because of economic conditions or a lack of adequate savings in retirement plans.The researchers who conducted the new study recommended that Congress increase and extend unemployment benefits for older workers, discourage withdrawals from retirement accounts, lower Medicare eligibility to 50 and create a federal Older Workers Bureau to promote the welfare of older workers.____AP Business Writer Alexandra Olson contributed to this report from New York 5294

Fentanyl is now the most commonly used drug involved in drug overdoses, according to a new government report. The latest numbers from the US Centers for Disease Control and Prevention's National Center for Health Statistics say that the rate of drug overdoses involving the synthetic opioid skyrocketed by about 113% each year from 2013 through 2016.The number of total drug overdoses jumped 54% each year between 2011 and 2016. In 2016, there were 63,632 drug overdose deaths.According to Wednesday's report, which analyzed death certificates for drug overdose deaths between 2011 and 2016, fentanyl was involved in nearly 29% of all overdose deaths in 2016. In 2011, fentanyl was involved in just 4% of all drug fatalities. At the time, oxycodone was the most commonly involved drug, representing 13% of all fatal drug overdoses.From 2012 to 2015, heroin became the most frequently involved drug in overdose deaths. In 2011, the number of fatal heroin overdoses was 4,571, or 11% of all drug fatalities. In 2016, that number more than tripled to 15,961 deaths, representing a quarter of all drug overdoses that year.The authors of the new study also found that most overdoses involved more than one drug. In 2016, 2 in 5 cocaine-related overdose deaths also involved fentanyl. Nearly one-third of fentanyl-related overdoses also involved heroin. More than 20% of meth-related fatal overdoses also involved heroin. 1423