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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

Two people were found dead in a South Euclid, Ohio home early Saturday morning following a 12-hour standoff tied to the investigation of a Beachwood, Ohio doctor who was found shot to death on Thursday.Around 7:30 p.m Friday, SWAT converged on a second house belonging to Dr. Richard Warn in the 4300 block of Elmwood Road to serve a warrant with homicide detectives. Warn was found dead the previous day inside his Beachwood home on Brentwood Road.SWAT officers made entry into the residence using an armored vehicle and were met with gunfire. Authorities retreated and over the next 12 hours attempted to make contact with the people inside. On Saturday morning SWAT entered the house and found two white males dead inside, police said.The Ohio Bureau of Criminal Investigation is processing the scene for evidence.Police said the two men were persons of interest in the doctor's death. Their identities have not been released, and it's not known how they died.Watch the press conference regarding the SWAT standoff below: 1052

Uber's IPO will likely arrive before the end of the decade.CEO Dara Khosrowshahi confirmed on Thursday that the company's "target" is to go public in 2019. The move is a departure from his predecessor, Uber co-founder Travis Kalanick, who had tried to put off an IPO as long as possible."We have all of the disadvantages of being a public company, as far as the spotlight on us, without any of the advantages of being a public company," Khosrowshahi said on stage at the New York Times DealBook Conference in Manhattan."Travis and the whole board now agree that we should just go public," he added.Uber currently has a valuation of billion, which makes it the most highly valued startup in the world. The company has raised more than billion in capital since its founding in 2009.SoftBank, the Japanese conglomerate, has also been in discussions with Uber for a massive private investment expected to total in the billions. Khosrowshahi expressed confidence about getting Uber's entire board on the same page and closing the deal."There's negotiations going on," he said. "They've probably taken longer than they should have, but we're gonna get there."The event marked Khosrowshahi's first extensive interview since taking over as Uber's CEO two months ago. In the conversation, he spoke candidly about his early doubts about the job given Uber's numerous PR crises at the time."It was this media circus that honestly I didn't want any part of," said Khosrowshahi, describing his initial feelings when he received a call about the CEO search. Khosrowshahi was then the CEO of Expedia. A friend, Spotify CEO Daniel Ek, later talked him into taking the opportunity seriously.Before joining the company, Khosrowshahi reviewed the company's financial and legal issues, as well as reading the blog post from a former engineer that rocked Uber with allegations of sexual harassment. However, he did not ask to read a report on the failures of Uber's reckless company culture put together by former U.S. Attorney General Eric Holder."The culture went wrong, and the governance of the company went wrong and the board went in a very bad direction," Khosrowshahi said. "But if the product is good, then if you can bring in good leadership, you can ultimately bring it together."Earlier this week, Khosrowshahi published a new set of "cultural norms" for the company, replacing Uber's "win at all costs" mentality with greater emphasis on corporate responsibility and inclusion. One of the norms: "We do the right thing. Period."But one of the biggest obstacles for Khosrowshahi's turnaround effort at Uber may be Kalanick. The former CEO continues to serve on Uber's board. In late September, Kalanick blindsided the company by using his power to appoint two new board members.Khosrowshahi admitted Kalanick wants to be more a part of the company than he currently is."It's a good relationship, but it comes with balance. What I told Travis very early on is that any new CEO needs space and needs distance from the old CEO," Khosrowshahi said. "I was a little worried about that conversation, but actually he took it very well and he's been very respectful."Khosrowshahi said he does anticipate leaning on Travis for insights on the business at a later date. "Over a period of time," he said, "I would be foolish not to use Travis's incredible genius and his knowledge that really was largely responsible for getting the company to where it is now."  3463

Two-year-old Zéa Lane began her battle to survive stage 4 cancer at just 3 months old.It has robbed her of meeting milestones and being able to make friends or keep up with other toddlers her age. It has paralyzed her from the chest down, with doctors saying she would never walk.As she gets older, Zéa is realizing that she's different. While wearing ballet slippers, the little girl who loves to bop around to music looked at her mother and said, "My feet are broken, Mama." 484

Vice President Mike Pence visited Wisconsin on Tuesday to make a campaign push ahead of election day in November. The VP had a pair of appearances in the morning which focused on issues important to local republican voters like religious faith and personal security.In an interview with TMJ4 News, Pence discussed Coronavirus testing and the Black Lives Matter movement."Well look, I'm pro life. I think that all lives matter and that the lives of our African American community are precious in the sight of God," the Vice President said.? While the Black Lives Matter protests in Milwaukee and around the country have been largely peaceful and about systemic change, Vice President Pence raised concerns about the rioting and looting with some protests.?"I think that the leadership of the movement calling for defunding police - seeing the countless violence in the street. It's just not where the American people are - the American people know we can support law enforcement and our African American community. ?The decades of disparities run deep in Milwaukee for African Americans in areas of income and home ownership," he said.Pence points to President Trump's record with the lowest unemployment rate ever for African Americans before the pandemic, increased funding for Historic Black Colleges and Universities and more tax break investments in communities of color called Opportunity Zones. ?The vice president believes failed Democratic leadership in major cities helped Donald Trump win Wisconsin in 2016. ?"They heard him (President Trump) say to the African American community in this state: 'What do you have to lose?' Because too often our African American families in our major cities live on the most unsafe streets, their kids go to the most failing schools they are not given a choice, they don't have the income.?"But The Democratic Party of Wisconsin says the Trump Administration has not delivered."From failing to provide adequate PPP loans to black-owned businesses, relentlessly attacking protections for people with pre-existing conditions, and creating an economy where the Black community isn't given the same opportunities to get ahead, Trump and Pence have proven that their toxic agenda isn't designed to work for Black Wisconsinites, " said party Vice Chair Felesia Martin.Democrats and the Joe Biden campaign have also pounced on President Trump's comments that he wanted to "slow down" coronavirus testing.TMJ4 asked Pence about those comments. "The president has made it clear very early on that we were to form a seamless partnership ship with governors around the country. At this point, I think we have done 27 million test across America," Pence responded.U.S. Senator Tammy Baldwin thinks the Trump administration has not delivered enough testing supplies for hard hit places like nursing homes.The Wisconsin Democrat and potential V-P running mate for Joe Biden wants the president to use the Defense Production Act to increase testing supplies and improve access."We're facing lots of challenges as we struggle to reopen the economy," said Baldwin, and we will continue too as we open things like K--12 schools and higher education.Baldwin is also calling for work place protection rules and supplies. She says social distancing and hand washing are good guidelines but more is needed to protect front line workers for future Covid 19 surges or outbreaks."The idea that, this far into the pandemic, they've failed to issue any sort of mandatory, enforceable standards, is really, really outrageous."This story was originally reported by Charles Benson on tmj4.com. 3615