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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
SEATTLE (AP) — Seattle's police chief says she will retire. The move was reported Monday, the same day the City Council approved reducing the department through layoffs and attrition. The cuts were supported by demonstrators who have marched in the city following the police killing of George Floyd in Minneapolis. The reductions were strongly opposed by the mayor and police chief. KING-TV reported that Seattle Police Chief Carmen Best, the city's first Black police chief, told the department of her decision in a letter, saying her retirement will be effective Sept. 2. “I am confident the department will make it through these difficult times,” Best said in the letter. “You truly are the best police department in the country, and please trust me when I say, the vast majority of people in Seattle support you and appreciate you. ... I look forward to seeing how this department moves forward through the process of re-envisioning public safety. I relish the work that will be done by all of you.”Budget measures approved Monday would cut less than million of the department’s 0 million annual budget this year. 1131

Sears is swinging the ax again. The struggling retailer announced plans to close another 46 Sears and Kmart stores.The company has already closed more than 100 stores this year -- including the last remaining Sears in its hometown of Chicago -- as it attempts to stem losses.Employees at 13 Kmart stores and 33 Sears stores were notified that their locations would close by November.When Sears and Kmart merged in 2005, they had about 3,500 US stores between them. About 900 US stores remain, and more closings are likely."We continue to evaluate our network of stores, which is a critical component to our integrated retail transformation, and will make further adjustments as needed," the company said in a statement.Liquidation sales at some of the stores will start as soon as August 30.Sears has lost .2 billion since 2010, its last profitable year and sales have plunged 60% in that time.The company has been looking at selling assets as a way to raise money. In August, CEO and majority shareholder Eddie Lampert offered to buy the company's Kenmore appliance brand for 0 million, and its Sears Home Services division for between million and million.Lampert said he also plans to negotiate with lenders to try to extend the repayment schedule for some of Sears' debt.Shares of Sears plunged 35% in the week since Lampert's bid was disclosed, and hit an all-time low of .15 a share Wednesday. The stock closed trading at .18, still down 5% for the day.Stores set to close:Kmarts:Spring Valley, California,Clovis, California,Antioch, CaliforniaLos Angeles, California (at 6310 W. 3rd Street)Milford, ConnecticutNewark, DelawareSteger, IllinoisCape Girardeau, MissouriColumbus, MississippiRiverhead, New YorkGresham, OregonScott Depot, West VirginiaGillette, WyomingSears:Flagstaff, ArizonaSanta Cruz, CaliforniaGrand Junction, ColoradoTampa, Florida (at University Square Mall)Doral, FloridaNaples, FloridaSavannah, GeorgiaAtlanta, GeorgiaBrunswick, GeorgiaBloomington, IllinoisFort Wayne, IndianaFlorence, KentuckyHammond, LouisianaHolyoke, MassachusettsTaunton, MassachusettsJackson, MichiganCrabtree, North CarolinaSalem, New HampshireManchester, New HampshireMays Landing, New JerseyVictor, New YorkGlen Falls, New YorkNew Hyde Park, New YorkDayton, OhioCincinnati, Ohio (at Northgate Mall)Happy Valley, OregonHouston, Texas (at Memorial City Mall)Bryan, TexasWest Jordan, UtahFairfax, VirginiaVancouver, WashingtonEau Claire, WisconsinLa Crosse, WisconsinThe-CNN-Wire 2503
SAN LUIS OBISPO, Calif. -- Students at California Polytechnic State University are demanding action after a social media post showed a fraternity member in blackface. The outrage came after a photo surfaced showing members of the fraternity throwing gang signs while dressed as gangster stereotypes, according to The Tribune.A photo later surfaced showing a fraternity member in blackface. The Instagram account that posted the photo has since been deleted.Late Monday afternoon, the dean of students announced that the fraternity, Lambda Chi Alpha, had been placed on interim suspension.The fraternity said in a statement to the school's newspaper that it is sorry "for failing to recognize the racial impacts this brought forth." 750
SANTEE, Calif. (KGTV) -- There's a jail in East County that’s designed like an open college campus. The warden says it helps prepare the inmates to one day re-enter the outside world.Team 10 investigative reporter Jennifer Kastner got a tour of Santee’s Las Colinas Detention and Reentry Facility, which houses women. Supporters of the design say it’s a step in the right direction for the San Diego County Sheriff’s Department, which runs the San Diego County jails. The Department has faced years backlash over accusations of inmate abuse and death.The big question is, does this jail design work?10News is examining the design as part of The Transparency Project, a new 10News initiative that’s supported by the nonprofit Solutions Journalism. The Transparency Project was born out of the passing of a new state law that’s pulling back the curtain on how local officers operate and investigate themselves.On the day that 10News visited Las Colinas, inmate Monica Estrada read her poetry to us. She says she is finally finding her voice.“I’ve done time throughout San Diego, Riverside County [and] Banning. I’ve been to prison [and] this is the first time I've ever learned and gotten some skills that I’m going to use to build a foundation for when I leave here,” she tells us. Estrada is serving time for drug sales, although at first glance, it's hard to tell that she's incarcerated.San Diego County Sheriff’s Department Captain James Madsen run the Las Colinas jail.“It eases their transition into the outside world because we treat it like it's an outside world,” he says of the jail’s open design. “It was designed that way to give these ladies a feeling of community,” he adds.The innovative design is an example of what the Sheriff’s Department believes it's doing well during a time of increased hostility toward law enforcement.“The last thing a deputy wants is a negative interaction with an inmate,” says Capt. Madsen.However, operations haven’t always gone smoothly for the San Diego County jails.In April, a woman named Destiny Guns escaped from the Las Colinas facility after climbing several fences and walls. A week later, she was recaptured. There's also security video from 2017 showing deputies punching an inmate at the San Diego Central Jail. The inmate was wheeled off on a stretcher.Another example is that of Paul Silva, a schizophrenic inmate who was rushed to the hospital from the Central Jail. His family’s attorney says that a stun gun was used on him four times before he went into cardiac arrest. He later died.“On a daily basis, what are you doing to make sure that your officers aren't discriminating [and] aren't inflicting cruel and unusual punishment?” we ask Madsen.“We monitor, we talk to our deputies, we move around and really…the deputies buy into the philosophy of reentry and rehabilitation. They understand that these folks are going to be in the community,” he responds.Madsen says the Sheriff’s Department is building up its inmate safety program. “We've hired more staff [like] more medical staff, more psychologists [and] psychiatrists,” he adds.The Sheriff’s Department has faced criticism in recent years for a high inmate suicide rate. Two years ago, a Grand Jury report revealed that "46 people have committed suicide in San Diego County Jails in the past 12 years.” Another part of the report reads, “The suicide rate in San Diego County Jails is the highest in all of California's large county jail systems."Wednesday, a spokesperson for two County supervisors sent 10News the following statement after a recent San Diego Union-Tribune investigation revealed at least 140 deaths in County Jails over the last decade."Any death under these circumstances is tragic, and we will be working with the Sheriff to determine what more we can do to reduce these incidents. A comprehensive review of all aspects of our jail system’s inmate care programs is being conducted, and we would like to see an additional independent review of best practices in other jail systems. It’s critical, in particular, that we do a better job of helping those dealing with mental illness and addiction. We’re moving to close the revolving door of people cycling through jail and emergency rooms through significant improvements to our behavioral health system. We have individuals who are winding up in jail in a crisis situation, and we need to reach these individuals much sooner and get them the treatment that they desperately need."This month, the Sheriff's Department reported it has been making changes based on recommendations from an independent suicide prevention expert including enhanced monitoring, new mandatory suicide prevention training and the creation of response teams to track self-harm reports, attempted suicides and suicides.“They're doing yoga outside. They're working with each other. They're playing organized sports,” says Patricia Ceballos with the Las Colinas Reentry Program. She helps run the jail’s wellness and vocational programs.Ceballos says the jail was designed to create a normative environment so that the women can focus rehabilitation and reentry. “Being able to empower, support, educate and provide tools to people to be successful and thrive in our community are important to us in the Sheriff's Department,” she adds.Even the living quarters are unique. There are no cells.“It does not feel like jail. To me, it feels like more of a high-security rehab,” says Melanie Jones. She was selling meth before she was sent to the jail. Now, she's studying culinary arts. “I'm a new person today,” she adds.The Las Colinas jail was completed three years ago with almost 0 million dollars from the County General Funds.10News asked the Sheriff's Department how many inmates have returned after being released. The Department reports that it looks at three-year snapshots for all County jails. The return rate for 2014-2016 was reportedly 36.6 percent. The return rate for 2015-2017 was reportedly 37.3 percent. The Department claims it’s in the process of evaluating the data for 2016-2018. So, while the effectiveness as a whole may not yet be certain, it is still clear there are positive changes on personal levels.“My voice is powerful and when I speak, people listen,” Estrada tells 10News. When she is released, she plans to write a book. “Some chicken soup for the inmate's soul. When life happens, try a bowl,” she laughs.The Sheriff's Department has a similar men's jail in Otay Mesa with an open campus design, although it is older and smaller. The Department reports that there are currently no plans to re-design the other existing jails in San Diego. 6644
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