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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 FRANCISCO, Calif. – California has confirmed its first openly gay justice to the state’s supreme court.Martin J. Jenkins made history Tuesday as he was confirmed as Associate Justice of the Supreme Court of California. The appointment was approved by a unanimous vote in the supreme court courtroom in San Francisco.Justice Jenkins fills the vacancy created by the retirement of Justice Ming Chin on Aug. 31, according to a press release from the state’s judicial branch.Along with being the state’s first openly gay justice, he’s also only the third African American man ever to serve on the court.The judicial branch says Jenkins has held several prominent state and federal judicial positions throughout his career, with his most recent being the governor’s judicial appointments secretary.Prior to his role with the governor, Jenkins served as an associate justice on the First District Court of Appeal from 2008 to 2019. He was appointed by President Bill Clinton to the U.S. District Court for the Northern District of California in 1997 and served on that bench until 2008.Jenkins earned a Juris Doctor degree from the University of San Francisco School of Law. 1180
Screen time has become a common concern during the pandemic, as many school districts turn to online learning. That has doctors telling parents to pay close attention to their children's eyes. "Everybody, adults and kids, can develop computer eye strain. That's mostly because there's a decrease in the blink rate, incomplete eye closure with the blink rate," said Dr. Cate Jordan, a pediatric ophthalmologist with the American Association for Pediatric Ophthalmology and Strabismus. Dr. Jordan says eye drops or a warm compress can help children with eye irritation because of increased technology use. But most of all, make sure your eyes get some relief from a screen."In between classes, take a break. Look out a distance and take a couple hard blinks. I really recommend really taking a few hard blinks because it pumps the oil glands and really helps lubricate the eyes," said Dr. Jordan.Stephen Reid is the co-founder of Hue Eyewear. Reid and his wife founded their blue light glasses company when they noticed their children suffered side effects from too much screen time. "With the amount of time we're spending on our screens right now, especially during the pandemic, we need to make sure that we protect ourselves," said Reid.Reid says the glasses protect children and adults from blue light that's emitted from computer, tablet, phone and even television screens. "My children use the glasses. Ever since we started the company they've been using them and they tell me their eyes are less strained and I can feel it, too," said Reid.Dr. Jordan says more studies need to be done on the effectiveness of blue light glasses. Our eyes naturally protect against harmful rays that could affect our eyesight, she adds. "If you've already bought them and a child feels better and wants to use them, then absolutely there's no harm in wearing them. But there's no need to have every child wearing blue light glasses," said Dr. Jordan.Dr. Jordan says too much blue light at the end of the day can disrupt your circadian rhythm, or sleep cycle, so she recommends children make an effort to avoid screens at least two hours before bed time. 2150
SANTEE, Calif. (KGTV) - A first-grade teacher at Sycamore Canyon Elementary has found a creative way to stay in touch with her students while everyone is staying home during the coronavirus Pandemic.Sarah Lathers is filming herself reading stories to her daughter, and then posting it online."I just think about my kiddos a lot, and I do miss them a lot more than I anticipated I would already," she says. "I care so much about their education and them as people. And I just want to know that they're somewhere feeling comfortable and safe during all the chaos."RELATED: List: San Diego school districts offering free mealsLathers reads to her two-year-old daughter, Harper, every day. The idea of putting story time online seemed like an easy way to let her school kids know she was thinking about them.The videos already have hundreds of views. Parents and friends are clamoring for more."Parents are putting comments below saying that the kiddos were so excited to see me," Lathers says. "The kids are showing it to brothers and sisters. They get tears in their eyes, at times remembering stories in class. It's been really exciting to read and get that response."RELATED: Psychologist provides strategies to cope with COVID-19And Harper, who chimes in during the stories, has become a break-out star."They just adore Harper, and I always show them fun pictures of her and tell them all the silly things she does. So it's nice I think for them to feel that connection to my personal life," says Lathers.To see the videos, go to Lathers' YouTube Channel, which she jokingly calls, "Stories With Squishy." 1614
SAN YSIDRO, Calif. (KGTV) — Four Congressmen, including House Majority Leader Steny Hoyer, Scott Peters, Juan Vargas, and Mike Levin, participated in an all-access tour of the San Ysidro Land Port of Entry Friday afternoon. Upon finishing the tour, House Majority Leader Steny Hoyer of Maryland said sternly, “There is no crisis at the border. There is no justification for an emergency declaration at the border.” This was a direct contradiction to President Trump's reasoning to build a southern border wall. It has been almost one month since the Department of Homeland Security began implementing the new Migrant Protection Protocol (MPP). The policy forces migrants from Central and South America entering the United States without papers, or those claiming asylum, to in Mexico for the duration of their immigration proceedings. According to the Mexican Citizen Council for Public Safety and Criminal Justice, Tijuana has the fifth highest murder rate in the world. Because of that, Representative Juan Vargas (CA-51-D) strongly rejected MPP.“To be sent back to a place like Tijuana, where they don’t have family, friends, where they don’t have the social connections to be helped and to be safe, I don’t think we should be doing it. I think it is the wrong thing to do. I don’t think it’s our American values," said Vargas.Previous to the new MPP, migrants were released into the United States after their initial process, under the assumption they would return to US Immigration Court at a later time to receive their final status. But Homeland Security said that too many migrants would skip court, and disappear into the US as fugitives. This afternoon, Majority Leader Hoyer used the President’s coined slogan to refute the claim. “That’s fake news. 97% of people show up. That’s a better percentage than the people who show up who are on parole in the United States of America for crimes,” Representative Hoyer said. After touring the facility, the Democrats agreed, solving the immigration issue is not as simple as building a physical wall. Overcrowding the ports with seemingly endless asylum seekers is not the answer either. They were all impressed by the work being done at San Ysidro and hoped all other ports implement the high tech protocols conducted there.“This national emergency declaration serves no purpose other than a political one,” Representative Mike Levin (CA-49-D) said. “If we truly want to solve the problem to the extent to one exists, we need to invest in the technology of the future, just as we have done here at San Ysidro, at all 330 ports of entry.” 2601