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Don't blame Amazon for the death of Toys "R" Us.It's true, online shopping didn't help matters, but the struggles of Toys "R" Us predate the boom in online shopping. Many of its wounds were self-inflicted.The company's biggest problem: It was saddled with billions of dollars in debt. That debt stopped it from making the necessary investment in stores. And that meant an unpleasant shopping experience that doomed the chain. The company told employees Wednesday that it would close or sell its US stores after 70 years in business."If you're going to have that breadth of inventory, you need someone in the store to help you find it, help you experience it," said Greg Portell, lead partner at retail consultant A.T. Kearney. "It's hard to sell toys in a cold, warehouse environment."Even Toys "R" Us CEO David Brandon conceded in an SEC filing last fall that the company had fallen behind competitors "on various fronts, including with regard to general upkeep and the condition of our stores."Toys "R" Us' debt problems date back to well before Amazon was a major threat. Its debt was downgraded to junk bond status in January of 2005, at a time when Amazon's sales were just 4% of their current level.A year later the company was taken private by KKR, Bain Capital and real estate firm Vornado. The .6 billion purchase left it with .3 billion in debt secured by its assets and it never really recovered.The toy store faced several other big challenges at about the same time. There was the rise of big box retailers like Walmart, which now dwarfs Toys "R" Us in total toy sales. Last year toymakers Mattel and Hasbro each sold about billion worth of their toys at Walmart, more than twice as much as what they sold through Toys "R" Us. Target sold just about as many of their as Toys "R" Us last year.And like most retailers, Toys R Us also lost sales to online rivals such as Amazon that offered lower prices and quick shipping.But much of the chain's resources were devoted to paying off that massive debt load rather than staying competitive.When Toys "R" Us filed for bankruptcy in September 2017, it disclosed it had about billion in debt and was spending about 0 million a year just to service that debt.That burden crowded out critical strategic priorities, like making its stores a nice place to shop and paying employees.Tell us: How will you remember Toys 'R' Us?Brandon said in a filing last fall that the bankruptcy process would allow it to invest million in its stores. The company hoped to add playrooms where kids could try out toys and spaces for birthday parties, but it never got the chance.Brandon also vowed to spend more money on staff. With extremely low unemployment, competitors like Walmart are raising wages, while Toys 'R' Us was having trouble attracting the kind of help it needed. It said last fall it would spend million from 2018 to 2021 to raise starting wages and to reward and keep its most effective employees."Better employees make for happier customers," Brandon said in the filing.Despite sharply declining sales, Toys "R" Us was also extremely late to the game in closing stores. At the time of its bankruptcy filing, the chain had 1,697 stores -- more than it had ever had.In January, it announced plans to shut 182 US stores. Last month it filed for the equivalent of bankruptcy for its UK operations, where it had 105 locations. On Wednesday, hours before announcing the decision to close its US operations, it said it would close the last 75 UK stores.But the closings in recent weeks were far too little, too late. And as a result, now all of US stores will close, and probably most foreign stores as well.The-CNN-Wire 3698
Did you see it!? #NeowiseComet passing over NE Ohio tonight! pic.twitter.com/bUaYy0zB9Y— Jon Rudder (@JonRudder) July 14, 2020 134

During the last few months, many health experts have been talking about reaching “herd immunity” with the distribution of the COVID-19 vaccine. Over the Christmas weekend, Dr. Anthony Fauci said he estimates the country needs to reach 80-85% with the vaccine to attain herd immunity.Here’s what that means.Herd immunity is a concept used in discussions about vaccination, and signifies the threshold needed for a population as a whole to be protected from a virus.The World Health Organization clarifies that herd immunity, or population immunity, “is achieved by protecting people from a virus, not by exposing them to it.”The Mayo Clinic also describes the situation following the 1918 Spanish Flu outbreak. They say people who survived the pandemic were later immune to infection of the H1N1 flu, also referred to as swine flu.Health experts warn that relying on community infection to create herd immunity could be dangerous; there are questions about how long the antibodies created by infection protect against reinfection, and a high level of community infection could lead to overwhelmed medical facilities and a high number of deaths.When the threshold of herd immunity is reached, it means the vast majority of a population is vaccinated and has antibodies, thereby lowering the overall amount of community spread of the virus. It also means portions of the population who cannot get vaccinated are kept safer by the limited spread.What that threshold is varies depending on the virus and the efficacy of the vaccine.According to the WHO, herd immunity against the measles is reached with 95% vaccination, while herd immunity against polio is 80%.Dr. Fauci believes herd immunity for COVID-19 can be reached with around 85% of the population having antibodies. 1778
Dr. Anthony Fauci delivered more good news regarding a potential coronavirus vaccine, indicating some Americans could begin getting vaccinated by the end of this month.During an interview with CNN’s Wolf Blitzer, Fauci, the director of the National Institute of Allergy and Infectious Diseases National Institute of Allergy and Infectious Diseases, said it’s possible a vaccine could begin reaching some Americans by the end of the month, but was confident some would begin getting vaccinated by the end of the year.Fauci’s declaration came on the same day Pfizer said that its Phase 3 vaccine candidate was showing an effectiveness of over 90%. Fauci said the announcement was promising, but a few more questions need to be addressed before it is given approval. Fauci said that things like the vaccine’s durability and effect on the elderly are among concerns that still need to be tackled.“We may have doses that we’re able to give to people by the end of November, beginning of December,” Fauci told CNN’s Blitzer. “Now you have to go through the hoops of making sure all of the I’s are dotted and the T’s are crossed about the safety and regulatory aspects of it, but we would be giving vaccine, very likely, by the end of this year. That is good news.”Last month, the FDA put into place guidelines on approving a vaccine, which was more restrictive than what the White House had hoped for. The FDA noted that a vaccine candidate must be at least 50% effective. Vaccine candidates should include a median follow-up duration of at least two months after completion of the full vaccination regimen to help provide adequate information to assess a vaccine’s risk-benefit.“In addition to outlining our expectations for vaccine sponsors, we also hope the agency's guidance on COVID-19 vaccines helps the public understand our science-based decision-making process that assures vaccine quality, safety and efficacy for any vaccine that is authorized or approved,” Peter Marks, M.D., Ph.D., director of the FDA's Center for Biologics Evaluation and Research, said.While it is possible some will begin getting vaccinated in the coming weeks or months, questions remain on how soon a majority of the country will have the opportunity to become vaccinated. The first Americans slated to become vaccinated will be health care workers and people with a high risk of coronavirus complications, such as the elderly and those living in assisted living facilities, according to an NPR report.Given that Pfizer’s vaccine candidate is showing a high level of effectiveness, Fauci called the development “extraordinary.”"We know there's light at the end of the tunnel, but that doesn't mean that we're going to give up the important public health measures that we continually still have to do every single day,” Fauci said.While there is urgency for both public health and economic reasons for a vaccine, some experts have expressed concern over the speed of a vaccine and whether the expedited timeline is long enough to demonstrate efficacy.Even though a vaccine could be ready by year’s end, trials will be expected to continue for over a year to monitor for possible side effects.According to the FDA, a typical Phase 3 trial would take one to three years.“NIH is committed to supporting several Phase 3 vaccine trials to increase the odds that one or more will be effective in preventing COVID-19 and put us on the road to recovery from this devastating pandemic,” said NIH Director Francis S. Collins, M.D., Ph.D. “We also know that preventing this disease could require multiple vaccines and we’re investing in those that we believe have the greatest potential for success.”Pfizer said based on current projections, it expects to produce globally up to 50 million vaccine doses in 2020 and up to 1.3 billion doses in 2021. 3823
EL CAJON, Calif. - The grieving mother of an accused thief filed a lawsuit Thursday against the homeowner who shot and killed her son.The civil suit identifies the homeowner as Michael Poe, and it stems from an incident in the early morning hours of March 11. Police say the homeowner woke up to the sound of glass breaking. He went outside and found someone breaking into his work truck. He told police there was a confrontation and he shot the thief.RELATED: Confrontation between?homeowner, suspected thief ends in deadly El Cajon shootingJoseph Mercurio was the man killed. His mother Monika Anderson said her son had a drug problem but was doing his best to stay sober.“He was on Suboxone, a drug to stay sober, and someone had stolen his Suboxone,” Anderson said. “Although it's really hard for me to imagine my son at 31 years of age would just start stealing, but I think he was just desperate for drugs and in a lot of pain. I don’t think he deserved to die over that.”Police are investigating the incident and no criminal charges have been filed. Anderson’s attorney, Dan Gilleon, said that investigation should not affect their civil lawsuit.“The bottom line is Joe shouldn't have died and at a minimum it's because this guy didn’t act reasonably,” Gilleon said. “This is not the Wild West. If you decide to play that gunslinger role, then you’re going to end up losing everything you own.”The lawsuit does not specify an amount.“It’s like a mother’s worst nightmare,” Anderson said in tears. “I told Joe, time and time again how much he meant to me.”Scripps station KGTV in San Diego has tried to make contact with Poe several times since the shooting happened, but have not heard back. 1759
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