most agree sears has been in a state of restructuring for years as stores have been sold off eddie lampertis hedge fund have gone through many financial engineering maneuvers to keep the company running. however lampert personally owns 31% of the shares. the hedge fund he runs owns 19%. the lateste efst development isn effort to lower sears 5$5.6 billion in debt to 1.24 billion. here's the proposal it suggests selling off 1.$1.75 billion in assets, like the kenmore brand, sears home services, then selling another 1.5 billion in real estate, this would be stores, and they would be leased back to sears, converting 1$1.1 billion of debt into equity. that would lower sears annual interest payments to 88 million from 439 million the company still losing money it's not been profitable in more than seven years time is running out. 1$134 million in interest is du october 15th >> if you reduce the debt payments to the 88 million, would the company be in the black? >> no. >> so why keep it going? >> they haven't been profitable in more than seven years why keep it going? that's a good question i thi

. >> amarin shares soared 314% to >>> sears ceo eddie lampert is trying to keep theg struggl retailer on life support. a regulatory filing has revead that lampert that owns hedge fund esl investments has asked creditors to refinance more than $1 billion in deb before a $134 million payment is due next month. the ceo is also calling on sears to sell more than $3 billion worth of properties and assets. shares of sears fell 2% to $1.24. >>> and appnd salesforce are working together to make it easier for businesses and developers to build their apps on ple's i0s system. under the new partnership the companies will work together to incorporate some iphone features like siri and face i.d. into salesforce's app. they say the companies that use itsy technolill be encouraged to make products to work seamlessly with apple. shares ofle orce gained 2%. >>>oftware giant microsoft, adobe and sap are now partnering on an initiative that theyay will help business clients like walmart and coca-cola better nd undersheir customers. this so-called open initiative will allow cents to seamlessly transpt da

chairman eddie lampert wants to restructure that to keep it from teetering into bankruptcy. back to you. david: sad story for sears. thank you very much. melissa. melissa: political uncertainty weighing on markets, stocks dropping to session lows as bombshell reports that deputy attorney general rod rosenstein may be on his way out. fox business blake burman at the white house with the latest. not so clear he might be on the way out. reporter: a source familiar with the matter tells fox that rod rosenstein walked into the white house earlier this morning expected to be firing. instead during the noon hour he attend ad principals meeting and one of 45 minutes late he exited outside with chief of staff john kelly with his job intact. the big question going forward, how much longer will rosenstein hold on to his job? appears thursday could be a key day in all of this. which know the president and rosenstein spoke on the phone today, but the president says he will have a meeting with rosenstein at the white house on thursday. that is because the president of course right now is

eddie lampert's hedge fund has a new plan for cutting sears debt. swapped debt for notes they convert equity. the hedge fund could recoup more than $1 billion under the plan. cadillac has had enough of the big city. the general motors luxury brand is returning to michigan four years after moving to new york to become a cosmopolitan. the new headquarters will be in a detroit suburb across the street from the gm technical center. beillac says staff needs to close into engineers because the brand plans to launch a new vehicle every six months. that is your bloomberg business flash. alix: thank you. michigan, i knew it. now to wall street beat. tpg plays it safe. the co-founder says they are still in the market but turning cautious. then, the french president says the u.k. is welcome to stay in the eu if voters change their minds. and the kavanaugh hearing, all eyes on washington today as the supreme court nominee and his sexual assault accuser testify in a senate hearing. joining us is jason kelly, bloomberg's new york bureau chief. did not know about

let's see i certainly had the support of our founder and our board and long-term investors like eddie lamperte journey was first let's diversify the business that's a statement of humility i'm not picking which one is winning. i'm going to be into all and then we diversify geographically from california, central texas, into florida but then we had a very strong operating model and did something nobody else in the industry has ever did. we centralized everything for control and finance out of texas. that everybody's on the same accounts combine that with a investment grade balance sheet. it put us in a position that we're in a cyclical business where there's volatility around the stock and you're out of favor, we can buy it aggressively so joe, we've repurchased 85% of the outstanding shares of autonation in my time here for less than 20% a share for something like $9 billion. so we took a disadvantage and made it an advantage finally to your point, can you run this as one entity the fact we built a brand from coast to coast that stands for something, our treatment of customers, our value prod

. >>> sears, their ceo, eddie lampert, pushing a new plan to avoid bankruptcy., he's wanting creditors to refinance $1.1 billion of debt, he's asking the board to sell $1.5 billion worth of real estate and to sell off 1.75 billion worth of assets in an effort to stop -- that would basically reduce the entire debt by $1.25 the -- $1.25 billion. and he's doing all of this to avoid bankruptcy. is it rearranging the deck chairs on the titanic? we shall see, but he's taking the steps he believes to save it. stuart: and the stock is up ten cents. how about ebay? they plan to create hundreds of new jobs where you can work from home. are they going to give you a computer for home? >> they are. two monitors, even a stipend to help with cost of high-speed internet that you're going to need. they'll also give you five weeks worth of paid virtual training and also, by the way, offering competitive pay, health care, a 401(k) and paid time off, and all of this you can do in your bunny slippers and pajamas from home. [laughter] we all have a pair of bunny slippers, don't we? t