Sears Kept Alive by its CEO, Eddie Lampert, Again

It looks like Eddie Lampert isn’t quite done with Sears yet. I remember when he was the genius that was going to turn around K-Mart, based solely on its real estate holdings. Then they merged with Sears and Eddie was going to change the retail landscape. After all, this is a man who negotiated his own release from gun-wielding kidnappers after 30hrs and turned Autozone into the powerhouse it is today.

Truth be told, as fun as it is to demonize Eddie for the failures at both Sears and Kmart, there was little he could do — as the Amazon juggernaut does not discriminate and destroys all in its path.

Today he announced he’d lend another $200m to the struggling retailer — which ups his loans to more than $800m over the past two years. Naturally, the debt is collateralized against somewhat lucrative real estate holdings and I’m sure Eddie will find a way to make it work for him. But, from a PR standpoint, as CEO of the company, this is an unmitigated, fucking, disaster.

shld2

shld

These losses are caused by disastrous same store sales — which recently dropped by 7.4% (-10% at Sears and -4.4% at Kmart)

The majority of Sears’ debt is coming due in 2020, at which point the bedraggled retailers will likely be put to rest.
shld4

Source: Bloomberg

In a statement on the loan, Sears CFO Jason Hollar said: “As Sears Holdings has consistently shown, we will take actions to adjust our capital structure, generate liquidity, and manage our business to enable us to execute on our transformation while meeting all of our financial obligations. This new standby letter of credit facility further demonstrates that Sears Holdings has numerous options to finance our business strategy.”

In addition to lending money to Sears, Eddie is also providing REIT spinoff, Seritage Growth Properties, with a $200 line of credit.

Anyone else want some money? Eddie is in a generous mood.

 

Content originally generated at iBankCoin.com

The post Sears Kept Alive by its CEO, Eddie Lampert, Again appeared first on crude-oil.top.

Sears Kept Alive by its CEO, Eddie Lampert, Again

It looks like Eddie Lampert isn’t quite done with Sears yet. I remember when he was the genius that was going to turn around K-Mart, based solely on its real estate holdings. Then they merged with Sears and Eddie was going to change the retail landscape. After all, this is a man who negotiated his own release from gun-wielding kidnappers after 30hrs and turned Autozone into the powerhouse it is today.

Truth be told, as fun as it is to demonize Eddie for the failures at both Sears and Kmart, there was little he could do — as the Amazon juggernaut does not discriminate and destroys all in its path.

Today he announced he’d lend another $200m to the struggling retailer — which ups his loans to more than $800m over the past two years. Naturally, the debt is collateralized against somewhat lucrative real estate holdings and I’m sure Eddie will find a way to make it work for him. But, from a PR standpoint, as CEO of the company, this is an unmitigated, fucking, disaster.

shld2

shld

These losses are caused by disastrous same store sales — which recently dropped by 7.4% (-10% at Sears and -4.4% at Kmart)

The majority of Sears’ debt is coming due in 2020, at which point the bedraggled retailers will likely be put to rest.
shld4

Source: Bloomberg

In a statement on the loan, Sears CFO Jason Hollar said: “As Sears Holdings has consistently shown, we will take actions to adjust our capital structure, generate liquidity, and manage our business to enable us to execute on our transformation while meeting all of our financial obligations. This new standby letter of credit facility further demonstrates that Sears Holdings has numerous options to finance our business strategy.”

In addition to lending money to Sears, Eddie is also providing REIT spinoff, Seritage Growth Properties, with a $200 line of credit.

Anyone else want some money? Eddie is in a generous mood.

 

Content originally generated at iBankCoin.com

The post Sears Kept Alive by its CEO, Eddie Lampert, Again appeared first on crude-oil.top.

Syrian regime: ‘Real chance’ for political settlement

Syria’s foreign minister said today there was a “real chance” to reach a political settlement of the Syrian conflict, after Damascus’ ally Russia announced a ceasefire deal that was to take effect at midnight. Walid Muallem also said Syria would attend planned peace talks in Kazakhstan “with an open mind”. “Everything is open for discussion, with the exception of national sovereignty, and the people’s right to choose its leadership,” he said in a live interview on state television. Russian President Vladimir Putin announced a ceasefire between Syrian opposition groups and the government starting at midnight (22:00 GMT), and said the parties were also prepared to start peace talks. No date has been announced for the talks in Astana, the Kazakh […]

Israel closes another entrance to West Bank village

Israeli forces closed the main entrance of the village of Shuqba northwest of Ramallah city in the central occupied West Bank yesterday morning, after closing the other entrance to the village more than week ago. The closure came as Israeli forces continued to impose a strict siege on villages west of Ramallah including Shuqba, Qibya, Shabtin, Umm Safa, Abud, Deir Abu Mashal and Rantis, after an Israeli settler was lightly wounded when his vehicle was fired at in the area on 18 December. On Tuesday, many Palestinians reported being searched and interrogated by Israeli soldiers while attempting to move in the area while road closures forced citizens to take longer and unsafe roads. An Israeli army spokesperson told Ma’an they […]

مؤشر الخوف : التوقيت المناسب لاستخدامه فى الأسواق المالية

غدت التقلبات سمة أساسية من سمات الأسواق المالية في عصرنا الحالي، ولم يعد يخفى على أحد تأثيرات تدفق البيانات والإحصاءات الاقتصادية دون الخضوع لأي قيود وسهولة تداول أخبار الشركات والتطورات السياسية على أسواق الأسهم، الأمر الذي مهد الطريق…

The post مؤشر الخوف : التوقيت المناسب لاستخدامه فى الأسواق المالية appeared first on Arabic Forex.Info.

The post مؤشر الخوف : التوقيت المناسب لاستخدامه فى الأسواق المالية appeared first on forexnewstoday.net.

US Announces Sanctions Against Russia, Expels 35 Diplomats In Retaliation For Election “Hacking”

As promised (or threatened), the Obama administration has just unveiled – via the US Treasury – new sanctions against Russia over election hacking allegations (that as yet have not been supported by any actual evidence). Despite president-elect Trump’s comments that “we ought to get on with our lives,” the sanctions apply to five entities and six individuals. Amusingly, one of the entities is Russia’s FSB, aka the Federal Security Service, i.e. the Russian spy service, to the list of Specially Designated Nationals and Blocked Persons. Which, perhaps, means that previously the US would look the other way when known spies would enter the US.

In announcing the sanctions, a US official was quoted by Reuters as saying that it “hopes” the Russian government reevaluates its actions which have impeded the ability and safety of US embassy personnel in Russia. It was not clear what actions the US is referring to, or what evidence there is, but as the Iraq invasion proved, one does not need such trivial as supporting evidence when launching a quasi cyberwar.

Additionally, the official said that the action is meant to impose costs on the Russian government, and hold it accountable, and are in response to the “harassment” of US diplomats in Russia, and the activities of Russian diplomats in the US that are “not consistent” with their diplomatic responsibilities.

Reuters also notes that the US will close two Russian compounds in Maryland and New York used for intelligence-related activities; access to the compounds will be denied to all Russian diplomats as soon as Friday.

Finally, US will expel 35 Russian diplomats in Washington and San Francisco, giving them 72 hours to leave the country.

As for proof, well just trust Obama, who said that “data theft and disclosure activities could only have been directed by the highest levels of the Russian government.” And Iraq had WMD, or something….

The outgoing president finally threatens that he will continue to take more sanctions against Russia, without noting in advance just what they will be. He better hurry: Obama has 23 days left as US president.

More details from the NYT:

The Obama administration struck back at Russia on Thursday for its efforts to influence the 2016 election, ejecting 35 Russian intelligence operatives from the United States and imposing sanctions on Russia’s two leading intelligence services, including four top officers of the military intelligence unit the White House believes ordered the attacks on the Democratic National Committee and other political organizations.

 

In a sweeping set of announcements, the United States was also expected to release evidence linking the cyberattacks to computer systems used by Russian intelligence. Taken together, the actions would amount to the strongest American response ever taken to a state-sponsored cyberattack aimed at the United States.

 

The sanctions were also intended to box in President-elect Donald J. Trump. Mr. Trump has consistently cast doubt that the Russian government had anything to do with the hacking of the D.N.C. or other political institutions, saying American intelligence agencies could not be trusted and suggesting that the hacking could have been the work of a “400-pound guy” lying in his bed.

 

Mr. Trump will now have to decide whether to lift the sanctions on the Russian intelligence agencies when he takes office next month, with Republicans in Congress among those calling for a public investigation into Russia’s actions. Should Mr. Trump do so, it would require him to effectively reject the findings of his intelligence agencies.

As Bloomberg reports, among those targeted were officials of GRU, Russia’s military intelligence agency, which cybersecurity experts in the U.S. have linked to the hacking of the Democratic National Committee and party officials through a group they have nicknamed APT 28 or Fancy Bear. The U.S. also is sanctioning some Russian state institutions and cyber companies associated with them.

The NYT adds that the Obama administration is also planning to release a detailed “joint analytic report” from the Federal Bureau of Investigation and the Department of Homeland Security that is clearly based in part on intelligence gathered by the National Security Agency. A more detailed report on the intelligence, ordered by President Obama, will be published in the next three weeks, though much of the detail — especially evidence collected from “implants” in Russian computer systems, tapped conversations and spies — is expected to remain classified.

In the most amusing twist, even the NYT admits that “despite the fanfare and political repercussions surrounding the announcement, it is not clear how much real effect the sanctions may have.”

And while we are confident Putin is thoroughly amused at this moment by Obama’s last ditch effort to posion US-Russian relations, we eagerly await the Russian response.

* * *

From the US Treasury

Issuance of Amended Executive Order 13694; Cyber-Related Sanctions Designations

12/29/2016

Today, the President issued an Executive Order Taking Additional Steps To Address The National Emergency With Respect To Significant Malicious Cyber-Enabled Activities.  This amends Executive Order 13694, “Blocking the Property of Certain Persons Engaging in Significant Malicious Cyber-Enabled Activities.”  E.O. 13694 authorized the imposition of sanctions on individuals and entities determined to be responsible for or complicit in malicious cyber-enabled activities that result in enumerated harms that are reasonably likely to result in, or have materially contributed to, a significant threat to the national security, foreign policy, or economic health or financial stability of the United States.  The authority has been amended to also allow for the imposition of sanctions on individuals and entities determined to be responsible for tampering, altering, or causing the misappropriation of information with the purpose or effect of interfering with or undermining election processes or institutions.  Five entities and four individuals are identified in the Annex of the amended Executive Order and will be added to OFAC’s list of Specially Designated Nationals and Blocked Persons (SDN List).  OFAC today is designating an additional two individuals who also will be added to the SDN List.  

Specially Designated Nationals List Update


The following individual has been added to OFAC’s SDN List: 

  • ALEXSEYEV, Vladimir Stepanovich; DOB 24 Apr 1961; Passport 100115154 (Russia); First Deputy Chief of GRU (individual) [CYBER2] (Linked To: MAIN INTELLIGENCE DIRECTORATE).

  • BELAN, Aleksey Alekseyevich (a.k.a. Abyr Valgov; a.k.a. BELAN, Aleksei; a.k.a. BELAN, Aleksey Alexseyevich; a.k.a. BELAN, Alexsei; a.k.a. BELAN, Alexsey; a.k.a. “Abyrvaig”; a.k.a. “Abyrvalg”; a.k.a. “Anthony Anthony”; a.k.a. “Fedyunya”; a.k.a. “M4G”; a.k.a. “Mag”; a.k.a. “Mage”; a.k.a. “Magg”; a.k.a. “Moy.Yawik”; a.k.a. “Mrmagister”), 21 Karyakina St., Apartment 205, Krasnodar, Russia; DOB 27 Jun 1987; POB Riga, Latvia; nationality Latvia; Passport RU0313455106 (Russia); alt. Passport 0307609477 (Russia) (individual) [CYBER2].

  •  BOGACHEV, Evgeniy Mikhaylovich (a.k.a. BOGACHEV, Evgeniy Mikhailovich; a.k.a. “Lastik”; a.k.a. “lucky12345”; a.k.a. “Monstr”; a.k.a. “Pollingsoon”; a.k.a. “Slavik”), Lermontova Str., 120-101, Anapa, Russia; DOB 28 Oct 1983 (individual) [CYBER2].

  •  GIZUNOV, Sergey (a.k.a. GIZUNOV, Sergey Aleksandrovich); DOB 18 Oct 1956; Passport 4501712967 (Russia); Deputy Chief of GRU (individual) [CYBER2] (Linked To: MAIN INTELLIGENCE DIRECTORATE).

  •  KOROBOV, Igor (a.k.a. KOROBOV, Igor Valentinovich); DOB 03 Aug 1956; nationality Russia; Passport 100119726 (Russia); alt. Passport 100115101 (Russia); Chief of GRU (individual) [CYBER2] (Linked To: MAIN INTELLIGENCE DIRECTORATE).

  •  KOSTYUKOV, Igor (a.k.a. KOSTYUKOV, Igor Olegovich); DOB 21 Feb 1961; Passport 100130896 (Russia); alt. Passport 100132253 (Russia); First Deputy Chief of GRU (individual) [CYBER2] (Linked To: MAIN INTELLIGENCE DIRECTORATE).

The following entities have been added to OFAC’s SDN List:

  •  AUTONOMOUS NONCOMMERCIAL ORGANIZATION PROFESSIONAL ASSOCIATION OF DESIGNERS OF DATA PROCESSING SYSTEMS (a.k.a. ANO PO KSI), Prospekt Mira D 68, Str 1A, Moscow 129110, Russia; Dom 3, Lazurnaya Ulitsa, Solnechnogorskiy Raion, Andreyevka, Moscow Region 141551, Russia; Registration ID 1027739734098 (Russia); Tax ID No. 7702285945 (Russia) [CYBER2].

  •  FEDERAL SECURITY SERVICE (a.k.a. FEDERALNAYA SLUZHBA BEZOPASNOSTI; a.k.a. FSB), Ulitsa Kuznetskiy Most, Dom 22, Moscow 107031, Russia; Lubyanskaya Ploschad, Dom 2, Moscow 107031, Russia [CYBER2].

  •  MAIN INTELLIGENCE DIRECTORATE (a.k.a. GLAVNOE RAZVEDYVATEL’NOE UPRAVLENIE (Cyrillic: ??????? ???????????????? ??????????); a.k.a. GRU; a.k.a. MAIN INTELLIGENCE DEPARTMENT), Khoroshevskoye Shosse 76, Khodinka, Moscow, Russia; Ministry of Defence of the Russian Federation, Frunzenskaya nab., 22/2, Moscow 119160, Russia [CYBER2].

  •  SPECIAL TECHNOLOGY CENTER (a.k.a. STC, LTD), Gzhatskaya 21 k2, St. Petersburg, Russia; 21-2 Gzhatskaya Street, St. Petersburg, Russia; Website stc-spb.ru; Email Address [email protected]; Tax ID No. 7802170553 (Russia) [CYBER2].

  •  ZORSECURITY (f.k.a. ESAGE LAB; a.k.a. TSOR SECURITY), Luzhnetskaya Embankment 2/4, Building 17, Office 444, Moscow 119270, Russia; Registration ID 1127746601817 (Russia); Tax ID No. 7704813260 (Russia); alt. Tax ID No. 7704010041 (Russia) [CYBER2].

*  *  *

Additionally – potentially unrelated:

  • U.S. TO CLOSE TWO RUSSIAN COMPOUNDS IN MARYLAND AND NEW YORK USED FOR INTELLIGENCE-RELATED ACTIVITIES – U.S. OFFICIAL
  • U.S. EXPELS 35 RUSSIAN DIPLOMATS IN WASHINGTON AND SAN FRANCISCO, GIVES THEM 72 HOURS TO LEAVE – U.S. OFFICIAL

Bloomberg reports that The FBI and Homeland Security Department will release a report Thursday with technical evidence intended to prove Russia’s military and civilian intelligence services were behind hacking attacks during this year’s presidential campaign, according to a U.S. official.

The documentation will be offered in tandem with sanctions that the Obama administration announced Thursday in retaliation for the breach of Democratic National Committee e-mails as Democrat Hillary Clinton and Republican Donald Trump were campaigning for the White House. The Russian government, which has denied responsibility for the hacking, has vowed to respond to any new sanctions with unspecified counter-measures.

 

The joint report will include newly declassified information exposing the internet infrastructure that Russia used in the cyberattacks, including malware and computer addresses, according to the official who asked asked not to be identified before the report is made public.

 

The release is intended to serve two purposes: to help prove the Russian government carried out the hacking while also frustrating officials in Moscow by exposing some of their most sensitive hacking infrastructure, the official said.

And now we await as Putin retaliates, which he will momentarily, just as promised

Anticipating the sanctions Wednesday, Russia accused Obama of acting out of spite, and pledged retaliation.

 

“People in the White House need to understand clearly that if Washington really takes new hostile steps, then it will receive a response,” foreign ministry spokeswoman Maria Zakharova said in a video statement.

As The New York Times reports,

The sanctions were also intended to box in President-elect Donald J. Trump. Mr. Trump has consistently cast doubt that the Russian government had anything to do with the hacking of the D.N.C. or other political institutions, saying American intelligence agencies could not be trusted and suggesting that the hacking could have been the work of a “400-pound guy” lying in his bed.

Mr. Trump will now have to decide whether to lift the sanctions on the Russian intelligence agencies when he takes office next month, with Republicans in Congress among those calling for a public investigation into Russia’s actions. Should Mr. Trump do so, it would require him to effectively reject the findings of his intelligence agencies.

Obama’s executive order is below.

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U.s. Official says Hopes Russian Government Reevaluates Actions Which have impeded Ability and Safety of U.s. Embassy Personnel

U.S. OFFICIAL SAYS HOPES RUSSIAN GOVERNMENT REEVALUATES ACTIONS WHICH HAVE IMPEDED ABILITY AND SAFETY OF U.S. EMBASSY PERSONNEL IN RUSSIAThe material has been provided by InstaForex Company – www.instaforex.com

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