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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
SAN YSIDRO, Calif. (KGTV) — Border officials seized more than million in unreported currency being smuggled into Mexico through San Ysidro.Officials stopped a vehicle on Dec. 9 in the southbound I-5 lane at the San Ysidro Port of Entry, according to U.S. Customs and Border Protection. The vehicle was referred to inspection where canine officers alerted CBP officers to the driver's side quarter panel of the vehicle.Officers discovered numerous packages containing undeclared U.S. currency in the quarter panel, under the vehicle's third row of seats, and in the cargo area, CBP says."CBP officers and a canine team successfully stopped the smuggling of the currency during outbound inspections," said Anne Maricich, Acting Director of Field Operations for CBP in San Diego. "This is a demonstration of great police work and dedication to the CBP mission by our officers with the goal of stopping the illicit movement of currency through the border."The money was seized by the CBP. 995
SAN MARCOS, Calif. (KGTV) - A local portable toilet rental company is charged with tampering with equipment on its trucks to skirt emissions regulations. Employees also allegedly faked some of the smog test results.Team 10 Investigative Reporter Jennifer Kastner went to San Marcos’ Diamond Environmental Services on Friday afternoon, but was asked to leave. 10News was looking for answers to the alarming accusations that the company and some of its employees were committing crimes against the environment. Part of a video on the company’s website states, “Diamond's dedication to doing the right thing goes above and beyond.” Yet prosecutors say Diamond was preparing false smog test results to get passing results. Additionally, executives were allegedly tampering with emission control devices on its diesel truck fleet, re-programming the emission monitoring devices to avoid extra costs that come with burning off dirty, soot-filled diesel filters. Ed Rodriguez is the owner of Auto Park Smog in Escondido. He says, “If you’ve ever seen a vehicle going down the road, like a truck, and it has black smoke coming out of it, that’s all soot and that's not good.” Rodriguez says he's worked on Diamond's smaller trucks but not the ones that are part of this new six count federal indictment. The U.S. Attorney’s Office claims that Diamond took the devices out of trucks and shipped them out of California to be re-programmed. Owner and manager Arie Eric De Jong III, manager Warren Van Dam and technician Jorge Leyva Rodriguez are facing time behind bars and thousands of dollars in fines.The company declined an interview during our visit to the headquarters on Friday afternoon. 1692
Scientists knew 2020 was going to be an active tropical storm and hurricane season in the Atlantic Ocean. We’re now running out of names on the official list, so what happens next? The Greek alphabet.In early August, the National Oceanic and Atmospheric Administration predicted 19-25 total named storms in the Atlantic this year, and 7 to 11 becoming hurricanes. Colorado State University’s Tropical Weather and Climate Research Center also predicted an above-average year, with about 24 named storms and 12 hurricanes.With so many storms were predicted, why wasn’t a longer list of names created? Since 1953, the National Hurricane Center, a group within NOAA, has released a list of 21 potential names in alphabetical order. “They are now maintained and updated through a strict procedure by an international committee of the World Meteorological Organization,” according to NOAA.The lists are rotated every six years, meaning names from 2019 will be used again in 2025. Names are sometimes retired from the list when a named storm is so deadly or costly that reusing the name would be inappropriate for “reasons of sensitivity.”Yes, 21 names and not 26. Because of the lack of names for some letters, there are no storms using the letters “Q”, “U”, “X”, “Y”, or “Z.”As of this writing, the only remaining name on the list is Wilfred.The National Hurricane Center has determined that if there are more than 21 named storms in a season, the remaining storms will take names from the Greek alphabet.For those of us who need a refresher on those letters: Alpha, Beta, Gamma, Delta, Epsilon, Zeta, Eta, Theta, Iota, Kappa, Lambda, Mu, Nu, Xi, Omicron, Pi, Rho, Sigma, Tau, Upsilon, Phi, Chi, Psi and Omega.The first time the back-up naming system was used was in 2005. That year, six storms had to be named using the Greek alphabet for a total of 27 storms that season. 1876
SAN MARCOS, Calif. (KGTV) – A group of San Marcos neighbors say that a homeowner is terrorizing the community with threats and harassment, among other complaints. Neighbors are now banding together to sue him with the hope that he'll pack up and leave. Team 10 investigative reporter Jennifer Kastner discovered that federal agents also seized explosives and ammunition from his house, that he wasn't supposed to have. Homeowner Mark Brody, though, denies all allegations of wrongdoing."You don't have to get along with all your neighbors. You don't have to be friends with all your neighbors, but you also don't have to terrorize them," says neighbor Heidi Hafley.Brody’s home sits behind a prominent security camera and high fences. “[It’s] a fortress,” says James Pyer, one of twelve neighbors who are suing Brody, accusing him in the lawsuit of threats, stalking, trespassing, and so on."This has been a nightmare," adds Hafley. She and Pyer got a restraining order against Brody.Court records show that Brody denies harming the neighborhood, but 10News dug into public records.According to a search warrant from last year, state investigators believed that Brody may have been harboring several weapons, even though he'd been banned from having firearms or ammo because of the restraining order. Agents reportedly found and seized 30 pounds of an explosive called tannerite that had to be turned over to a bomb squad. Additionally, they found four ammunition magazines and two rounds of caliber ammunition.“At one point they put everything in the middle of the street and told us to stand back,” says Hafley.This past May, he pleaded guilty to illegally having ammunition. He was given probation and community service.10News confirmed with the San Marcos Sheriff's Station that deputies have been called out to Brody's home more than 30 times since 2014. One Sheriff's report reveals accusations from neighbors that Brody had been shining a flashlight from his truck into Hafley's bedroom. In another report, neighbors claim he yelled that she was a "[expletive]".“I'm the main target now because I push back and I let him know [that] I'm not going to tolerate this,” she tells us.In fact, Brody tried to get a restraining order against Hafley, but failed.The City of San Marcos confirmed with 10News that there have been a number of code compliance violations issued to Brody.A cease and desist order from the City to Brody includes a photo of an unauthorized traffic control sign that Brody allegedly installed. Neighbors say that he spray painted the street, put in a speed bump and put up notices meant to insult his neighbors. Hafley adds that the signs would state, "'Watch for the cows crossing,’ which he's referencing myself and my neighbor. He would [write], ‘The old bat,” which is my nextdoor neighbor [and he would write], ‘The troll,’ which is me."Brody would not do an interview with 10News. In a court response, he wrote that he categorically denies the allegations and claims to have never acted [violently] towards the neighbors."We don't go out of our houses anymore. Children don't play on the street," says Hafley.She and the eleven others on the new lawsuit against him just want him to move out so they can move on. “I don't want any other neighborhood to go through this," she adds.Each neighbor is asking for at least ,000 in damages. The trial date is scheduled for July. 3414