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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 almost 30 years, John Chhan and his wife, Stella, ran the doughnut shop in Seal Beach, California, a constant, reassuring part of countless customers' lives. But now the hard-working couple is facing a medical crisis, and their patrons are returning the sweetness.Since Stella suffered a brain aneurysm last month, John has longed to spend as much time as he can with her."She's in a nursing home," Chhan said. " My sister-in-law is here helping me."With a business to run and bills to pay, the doughnuts still have to roll. Chhan thought he would have to spend most of his time working at the doughnut shop -- away from his wife. 642

For decades, countless Americans buying a new set of wheels love that "new car smell." But Ford Motor Company may be trying to get rid of it.The automaker has filed a patent application for a new method to eliminate that new car aroma.The process calls for "baking" vehicles until the odor is gone. It works by parking vehicles in the sun and opening the windows until the smell is gone.Ford is looking to accommodate the world's largest car market – China, where drivers reportedly do not like the new car smell as much as American drivers do. 552

For the first time, the FDA has authorized coronavirus tests that can be sold directly to Americans who do not have to go through a health care provider.An emergency use authorization is not a full approval from the FDA, but allows the tests to be used in a non-clinical or non-hospital setting.The LabCorp’s Pixel COVID-19 Test Home Collection Kit can be used by any adult age 18 or over. The test kit allows individuals to take a nasal swab at home and send the sample to LabCorp for testing.Those who test positive will receive a call from a health care provider. Negative tests are delivered via an online portal or through email.The FDA says that the tests can be purchased online or in stores, and can help people determine whether they need to quarantine.“This is the first kit for consumers to self-collect a nasal sample for COVID-19 in their home that does not require a prescription,” said Jeff Shuren, M.D., J.D., director of FDA’s Center for Devices and Radiological Health. “While many home collection kits can be prescribed with a simple online questionnaire, this newly authorized direct-to-consumer collection kit removes that step from the process, allowing anyone to collect their sample and send it to the lab for processing.”The company says the out of pocket cost is 9 for those who do not have the test covered by insurance. The tests take one to two days to process, once received via FedEx.“With the first over-the-counter at-home collection kit ever authorized by the FDA for COVID-19, we are empowering people to learn about their health and make confident decisions,” said Dr. Brian Caveney, chief medical officer and president of LabCorp Diagnostics . “With this authorization, we can help more people get tested, reduce the spread of the virus and improve the health of our communities.” 1828

Former FBI Director James Comey, under aggressive questioning from Republicans Friday, declined to answer questions about a range of matters because of special counsel Robert Mueller's ongoing investigation into Russian interference in the 2016 elections, according to members from both parties.Republicans tried to press Comey to divulge information about the FBI's efforts to surveil former Trump campaign adviser Carter Page as well as details about the genesis of the Russian investigation. But a Justice Department attorney seated next to Comey repeatedly said he would not be able to answer those questions, according to Rep. Darrell Issa, a Republican from California.Comey left the meeting just after 4:30 p.m. ET and told reporters he'd agreed to come back to speak with Congress in a couple weeks.Comey had fought the congressional subpoena in court, pushing for a public hearing before settling for some concessions. A transcript of the interview with members of the House Judiciary Committee will be released as soon as possible, perhaps in the next 24 hours.Emerging from the closed interview, House Democrats said Comey took strong exception to President Donald Trump's attacks over the FBI, saying it hurts morale at the department.Illinois Rep. Raja Krishnamoorthi said that the mood was "a little bit tense" but said it was appropriate for Comey not to answer questions related to the investigation. He also said Comey's testimony is consistent with his book?and previous Hill testimony.Democrats grilled his handling of the Clinton email probe and his decision to reopen the inquiry days before the 2016 elections. He defended his move saying he didn't want to conceal info that could impact a presidency, according to Rep. Sheila Jackson Lee, Democrat of Texas.He was "consistent" in his comments about whether Trump obstructed justice in firing Comey, she said. He has consistently stopped short of saying Trump obstructed justiceComey said that he wouldn't have handled the Russia or Clinton probes differently than he did, according to Rep. Jimmy Gomez, a California Democrat.Comey was pressed by members about leaks that may have came from the US Attorney's office in the Southern District of New York to Rudy Giuliani. And he said he personally ordered an investigation into New York field agents and whether any leaks came from them, according to a source in the meeting. He said he didn't know if anyone was held accountable from that probe. Comey has previously said he ordered an IG investigation into apparent leaks into the Southern District of New York.After leaving the interview, Rep. Darrell Issa, Republican of California, told reporters that Comey is not answering some questions at the direction of a Justice Department attorney who is accompanying the former FBI director."We will be demanding that he come back and be able to answer," said Issa.When asked why they did not want Comey to testify in public as he requested, North Carolina Republican Rep. Mark Meadows, who took part in the questioning, said they often discuss classified intelligence. "We would be giving him a pass that I don't think he deserves," added Meadows.Today wasn't a search for truth, but a desperate attempt to find anything that can be used to attack the institutions of justice investigating this president. They came up empty today but will try again. In the long run, it'll make no difference because facts are stubborn things.— James Comey (@Comey) December 8, 2018 3516