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Sears CEO Steps Down, But That’s Only the Beginning of the Bad News

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Sears Holdings Corporation has apparently filed for Chapter 11 bankruptcy on Monday, announcing that CEO Ed Lambert would be resigning from his post in order to aid the restructuring process.

This is pretty sad news as Sears is practically an American institution. There’s little doubt that the changing tide of commerce from brick-and-mortar stores to online shopping has had a huge role in the company’s decline, however, it seems a large part of the blame rests on the retailer itself.

The company issued a statement confirming that it has filed voluntary petitions for bankruptcy relief in an effort to “continue streamlining its operating model and grow profitability for the long term.”

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CEO Ed Lambert has also resigned his post to allow a team of executives to take over day-to-day operations, and restructuring expert Mohsin Meghji will lead the firm’s transition into Chapter 11.

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Lambert will still remain chairman of the board, as the company’s largest investor and creditor, but a new independent director, William Transier, has been appointed due to his expertise in overseeing complex capital reorganizations.

While the company said its Sears and Kmart stores will continue to operate as usual, another 142 unprofitable locations will be shuttered by the end of 2018.

Analysts have been speculating for quite some time that the Sears company was not doing very well, and for good reason. Over the last decade, the firm has shutdown hundreds of stores and is more than $5.6 billion in debt. Its stock price has fallen so low they’ve had to sell off several major brands just to keep things afloat.

While it seems Lambert has an optimistic view of the restructuring process, many other experts are not feeling so upbeat. Neil Saunders, a man who doesn’t hold back the nitty gritty reality of a given situation, stated that “the problem in Sears’ case is that it is a poor retailer. Put bluntly, it has failed on every facet of retailing from assortment to service to merchandise to basic shop-keeping standards.”

“That failure has manifested itself in lost customers, lost market share, and a brand that has become tarnished and increasingly irrelevant,” Saunders finished.

Here’s to hoping that Sears will take such criticism seriously, learn from their mistakes, and manage to turn the ship around before it’s too late.

Source: TheBlaze

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DC Mayor Now Bribing Children to Get Vaccine with Gift Cards, AirPods

Unbelievable.

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The Biden Administration is coming to a startling realization in recent weeks, as the number of folks who aren’t vaccinated approaches the number of folks who won’t be vaccinated. As it stands today, about half to the nation is inoculated, with the other half largely unwilling to go down that road.  In order to reach herd immunity, experts suggest that as many as 70% of us will need to have COVID antibodies – a fact that has prompted a number of municipalities to work up programs to entice Americans to get the jab. In DC, they are now targeting children with these incentives. Washington, DC, Mayor Muriel Bowser announced Thursday the city will offer cash and goodies to children from August 7 as gifts for those who receive their first shot of the coronavirus vaccine. Bowser previewed the August reward program saying, “All DC youth can claim their free COVID-19 [Chinese coronavirus] vaccine” at three locations in D.C., adding the “youth can receive a $51 VISA gift card.” Additional prizes will see, “The first 400 youth to get vaccinated at each site will have the option to forgo their gift card and instead receive a pair of AirPods.” And the parents are being targeted as well. She revealed other enticements, saying “parents/guardians will also get one $51 VISA gift card,” adding the gift cards are “per child vaccinated,” which could be lucrative for families with multiple children. The announcement comes on the heels of a similar bribe by NYC officials who offered $100 to anyone willing to get the jab.  

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Delta Info Leaked: CDC Says It’s More Transmissible Than Smallpox

That can’t be good.

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We are now in month 17 of our “2-week lockdown”.  You remember?  The one that was meant to “flatten the curve” two St. Patrick’s Days ago. So, nearly a year-and-a-half later, we are now dealing with something called the “delta” variant, and a return to the masks and restrictions that marred society during the early days of the pandemic. The CDC’s guidance on the matter changed abruptly this week, drawing a great deal of criticism from Americans the nation over.  Now, a leaked document appears to show why the organization changed their tune. The Delta variant is much more contagious, more likely to break through protections afforded by the vaccines and may cause more severe disease than all other known versions of the virus, according to an internal presentation circulated within the Centers for Disease Control and Prevention. Dr. Rochelle P. Walensky, the director of the agency, acknowledged on Tuesday that vaccinated people with so-called breakthrough infections of the Delta variant carry just as much virus in the nose and throat as unvaccinated people, and may spread it just as readily, if less often. And, when compared to other infamous outbreaks, “delta” holds its own. The Delta variant is moretransmissible than the viruses that cause MERS, SARS, Ebola, the common cold, the seasonal flu and smallpox, and it is as contagious as chickenpox, according to the document, a copy of which was obtained by The New York Times. The immediate next step for the agency is to “acknowledge the war has changed,” the document said. Its contents were first reported by The Washington Post on Thursday evening. The news comes just a children the nation over are preparing to head back to the classroom, and with cooler, drier weather just around the corner to drive some of us back indoors.

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