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“Starting next week and into mid-November there will be leadership shifts and non-retail partner impacts as we evolve the direction of teams across the organization in size, scope and goals,” Johnson said in a memo last week following a town hall. Starbucks has seen two high profile exits since June, including Howard Schultz, its former chief executive officer whose departure stoked investor concerns on how the company would evolve after nearly four decades of Schultz’s near-constant presence.
(Reuters) - Sears Holdings Corp SHLD.O Chief Executive Eddie Lampert, a major investor in the company, has proposed rescue deals to help the department store chain avoid bankruptcy as debt matures next month and it faces a cash crunch, according to a regulatory filing released on Monday, Billionaire Lampert, who also runs hedge fund ESL Investments Inc, said the 125-year-old department store chain should take steps reduce its debt load to $1.2 billion from $5.6 billion, Lampert and mens cufflink shirt his hedge fund, which he controls, own about 50 percent of Sears, according to Thomson Reuters data..
Lampert said Sears should offer creditors options to extend their debt or exchange it for new holdings, giving Sears more time to turn its business around. Lampert said the company should continue selling real estate to reduce debt by $1.5 billion and that ESL would be a back-up bidder for the properties. Sears said it has referred Lampert’s proposal to a special committee. In an internal message seen by Reuters, Sears said, “We will now be working aggressively to execute liability management transactions so that we can extend our runway and continue executing on our transformation strategy.”.
The proposals came as a Sears special committee weighs a prior offer from Lampert to acquire the retailer’s Kenmore appliances brand and its home services business for as much as $480 million, Sears warned this month it could go out of business as it waits for approval mens cufflink shirt from the committee on the deal, The U.S, government agency overseeing the pensions of 100,000 of the company’s former workers must also approve a sale of Kenmore, Sears’ shares, worth $30 in 2015, were down 3 percent at $1.24 Monday..
Credit ratings agency Fitch Ratings Inc said it viewed Lampert’s proposed deal as “challenging to execute.” Even if the deal is done, Sears would still need significant cash to operate because of challenges in retail, the ratings agency said. In recent decades, Sears, which was the world’s largest retailer in the 1960s, has struggled in the face of declining foot traffic at its brick-and-mortar stores. In another attempt to avoid bankruptcy, money-losing Sears last year sold its Craftsman tool brand to power tool maker Stanley Black & Decker (SWK.N) for $900 million.
MINNEAPOLIS/NEW YORK (Reuters) - With the Chinese billionaire Richard Liu at her Minneapolis area apartment, a 21-year-old University of Minnesota student sent a WeChat message to a friend in the middle of the night, She wrote that Liu had forced her to have sex with him, “I mens cufflink shirt was not willing,” she wrote in Chinese on the messaging application around 2 a.m, on August 31, “Tomorrow I will think of a way to escape,” she wrote, as she begged the friend not to call police, “He will suppress it,” she wrote, referring to Liu, “You underestimate his power.”..
This WeChat exchange and another one reviewed by Reuters have not been previously reported. One of the woman’s lawyers, Wil Florin, verified that the text messages came from her. Liu, the founder of Chinese ecommerce giant JD.com Inc, was arrested later that day on suspicion of rape, according to a police report. He was released without being charged and has denied any wrongdoing through a lawyer. He has since returned to China and has pledged to cooperate with Minneapolis police. Jill Brisbois, a lawyer for Liu, said he maintains his innocence and has cooperated fully with the investigation.
“These allegations are inconsistent with evidence that we hope will be disclosed to the public once the case is closed,” Brisbois wrote in an email response to detailed questions from Reuters, Loretta Chao, a spokeswoman for JD.com, said that when more information becomes available, “it will become apparent that the information mens cufflink shirt in this note doesn’t tell the full story.” She was responding to detailed questions from Reuters laying out the allegations in the woman’s WeChat messages and other findings..