Sears jumps after lining up $200 million to help stay afloat
Bloomberg Nick Turner 1 hr ago Posted here 10:30 A.M. 12/ 29/ 2016)
As of Thursday morning, it is apparent that Sears Holdings Corp. rose as much as 13 percent in early trading after lining up $200 million in credit to help fund the struggling retailer’s operations.
The company has a secured letter of credit that could be expanded by as much as $300 million with the consent of lenders, according to a statement Thursday. Affiliates of ESL Investments Inc., a firm run by Sears Chief Executive Officer Eddie Lampert, is providing the funding through Citigroup Inc...............................
Earlier this month, Sears reported another huge quarterly deficit -- $748 million -- bringing its total losses $9.35 billion in the past eight years. The company needs to raise about $1.5 billion to make it through 2017 comfortably, according to Christina Boni, an analyst at Moody’s Investors Service.
I am not sure if Mr. Lampert is beating a "dead horse" or if he truly believes he can save the old Monument to Retail Sales of past decades? In any case, it seems that Sears has bought a few more months while either things do turn around or Mr. Lampert can sell off more of the assets that were Sears Name Brands to so many of us over the years?
Maybe he should consider approaching Mr. Rapp to buy the Sears Store in Vienna? Mr. Rapp is always on the lookout for Legacy Agenda items? He could turn it into an ice skating rink for our Seniors. Probably would not work as he would have trouble moving it up next to the tin building going up next to the Senior Center? Great aesthetic comparative's to each other.
A bit more on the potential fall out for Clay County due to the lady that got fired for her racist comment on Ms. Obama. What company is going to want to establish a business in that County from outside of the State when it clearly showed such a racist bent? By not firing straight out and only suspending her, it sadly seemed to show more sympathy than disapproval? Not good in the real World. There are big and very rich companies that do hire Blacks and Asians because some are like some of us Caucasoids (gotta remember folks, I do not like the term "White"), hard workers. They can and will shy away from racist environs.
The World out there is not going to give West Virginia much of a chance if it is seen to be racist and backwards. Sure some will continue to take advantage of the folks here. But many of those are
already living here because of the chance to take advantage of their neighbors that are not connected. It does not have to be made worse by Social Media blaring the bad news all over the World.
Outside of West Virginia, the people are very, very Politically Correct on many issues and no matter what they think, it is not normally spewed all over the Social Media for one and all to see. While some may have been willing to come here for the obvious economic benefits of low wages, few if any benefits and a subservient work force, others will shy away from the potential issues with their shareholders?
While the KKK is alleged to be alive and well in Wirt County, it would not be well received in New York State or City. The Political atmosphere would have thousands in the streets and for sure the fights would be on. Or could march in Chi-town if they really wanted a melee? They would most likely be outgunned if they went into the wrong 'hoods there?
While I am for sure not a member of the Political Correctness Thought Patrol, I do expect and have said same that if West Virginia expects to do better, it has to grow into the current century. I have for many years; in fact all the years I have been here, defended West Virginians against the stereotyping that has been attached to them in other parts of the U.S. While I have been proven wrong by West Virginians of long tenure several times, I continue to believe that by and large, the folks here are good and honest. At least as long as they are not in Government Service. Then, I must do a case by case evaluation to be sure of their intents versus their responsibilities?
Will Mr. Stephens be allowed to sit on the Council Thursday, as he has already been sworn in as County Sheriff? Yep, official first day is the 1st of Jan, 2017. Not that it will matter unless Mr. Rogers is gone again? But he is not going to miss that nice fat raise vote a second time. Money talks with this bunch and in fact "SCREAMS". 'nuff said'.