there is no good indication that it's going to work. >> really quickly in terms of that bid by eddie lamperts own bankrupt company. are there other creditors who would then lose out and lampert sort of gets a windfall in this thing? >> there are some creditors who would want to potentially sue him because they feel that there is selling off a lot of the series favorable real estate, this was actually a lease location. there were about 250 other choice pieces of real estate that the sears board sold off to the real estate investment trust controlled by eddie lampert. and some of them say that's where the money went. now curiously enough to note, if they in fact accept his bid, then they would give up the right to sue him. so it gets complicated as things often do in bankruptcy but this is an iconic american company may be headed for trouble, just minutes away. >> the headline from back in october, eddie lampert is unrepentant. jeff flock outside of one of the last stores. the world's oldest world war ii veteran has died. richard overton of austin, texas, was born in 1986 when theodore rooseve

the eddie lampert only one said he would make a bid. he had $4.6 billion worth of financing he said or at least a plan for it. but, at this point, there is no indication that he has secured that financing. and if that is true, if no one else comes forward, we're talking liquidation. certain i all of sears has been liquidated. everything from lands end and about all of the brands sears spawned, the discover card, allstate insurance, dean witter, the company that became morgan stanley. huge numbers of spin-offs. huge almost of spin-offs i guess over the years. here is the other thing. if this goes to liquidation, the creditors would still be in a position, some of them talking about suing eddie lampert because they feel that perhaps when he did the deal to spin off 250 of sears choicest real estate properties back a few years ago to his real estate investment trust, that was not fiduciarily responsible. that could play out in the courts as we go. but for now, outside of this sears store, i give awe picture, they just slammed the doors shu

but it's not viabling as long as eddie lampert is anywhere near this company. jon: under lampert leadership there has been no evolution. >> it's almost george orwell who wrote the book 1984. sears is last store standing on the canadian border outside buffalo. lampert and the board were so myopic they closed the stores near the canadian border. and canadians pay huge taxes on everything from clothing to cleaning products to tools. so they shopped all those sears border stores. and sears even by the self, the customers don't trust a lampert led retail company. citi has the co-branded sears branded mastercard. but even this week the sears merchandise isn't selling in sears store number 1984. what does that say about lampert, a man with no plan as you said so well. does sears survive? do we see tonight some form in the future? >> sears should and could survive without lampert. but with lampert at the helm it will break up in the whirlpool below. they let so many retailers, amp, path-mart, sears. got you all be the bankruptcy lawyers take hundreds of millions of doll

eddie lampert did come in with a bid. the former ceo of sears trying to turn this thing around.parently b of a as well as citibank were involved in extending a

cnbc reporting the company's chairman eddie lampert submitted a bid today to buy the struggling retail giant. reuters says the offer was $4.6 billion potentially saving the jobs of tens of thousands of employees. sears filed for bankruptcy and plan to close 250 stores. today was the last day for potential buyers to bid for the company. >>> still no real progress on the government shutdown now its seventh day there has been plenty of blame thrown around and threats in circulation on twitter predictably. the president today said he might shut down the whole southern border, but can he really do that? nbc's chief white house correspondent hallie jackson joins me now. >> reporter: no action as it relates to the shutdown but a fair amount of talk. the problem is the talk has not been between the different sides negotiating on this. it's been aimed at the american public, now a messaging battle. the president has been out on twitter making that new threat to close the entire southern border if he does not get the money that he wants for some kind of a border barrier but many legalrtsay th si

its former ceo, eddie lampert, had proposed buying the retailer, but the 4 p.m.ssed. unless the deadline is extended -- and there are some indications it will be -- the company is going to be moving into liquidating its assets. following this trail of tear is the is our own jeff flock on a cold and windy sears location just outside of chicago. jeff, any signs of life in the store you're covering? >> reporter: well, just a little bit. you know, the board has the ability to, if they want to, extend this deadline. we have no indication that anybody has made a bid. the sec, there's no filing with the sec. we just checked that. but bloomberg is reporting that bam pert is -- lampert is seeking to have the deadline extended because, apparently, he hasn't lined up the financing that he needs. he's not putting very much of his own money into this at all, he's just offering to forgive some debt. so if they extend it, then, you know, it lives another day. but they just closed 80 more stores today independent of all of this deadline stuff. so major life support, david. >> hi

but they did sell off to eddie lampert's sort of real estate investment trust that he is the chairmanbout 250 choice pieces of real estate off to them. there are creditors who say lampert mismanaged the company and may sue him, because he sold those properties off. they accuse him of looting the company. if they accept his bid, however, he would not be sued. so it gets complicated, but it all hinges on whether there will be a bid or whether there won't be, in which case everything gets liquidated like this sears store we are seeing right here in the suburbs of chicago, once home to the amazon of its day. sears. kristina? kristina: thank you, jeff. as we know, sears has been on the block for quite some time. they filed for bankruptcy in october. ten minutes, ten minutes until closing time. more retail breaking news. you have dick's sporting goods says they are essentially due to a new investment focus, it will not be -- sorry, renewing its u.s. olympic committee sponsorship beyond 2018. wow. there you go. we just had that news coming out right now. shares of dick's haven't changed, pre

the chairman of the iconic retailer eddie lampert has until 4:00 p.m. eastern time to submit a proposal of more than $4 billion to buy the company through a hedge fund in an effort to keep stores open. advisers for sears would have until next thursday to decide whether that offer is a qualified bid. if it's not or no offer is made, the retailer could start liquidating its assets which would let creditors get back some of their financial losses. sears filed for bankruptcy in october. it has 500 stores and 68,000 workers. >>> social media news, instagram rolled out a new feature yesterday but people weren't facebook, very briefly switched to a horizontal down. meaning you swipe left and instagram previously tested the change in october in the explore section of the app. it says the feature wasn't meant to be rolled out to everybody. the bug has been fixed. those are your cnbc business headlines and man, people were upset on social media. >> i heard a lot of people upset. i didn't see it on my instagram. >> i saw it. i wasn't upset. i was mainly confused.

we learned today that chairman eddie lampert is offering a $4.4 billion deal to keep sears in business and 50,000 employees on the payroll across the country. the outcome is up to a bankruptcy judge. >>> there is more ahead on "world news tonight" this saturday. the stunning crash. a chopper near the world's longest zip line. the disaster caught on camera. >>> the dramatic rescue. the officer trapped inside his cruiser as it catches fire. what happens just seconds later. >>> and tinder date terror. screams coming from inside a home and what police found when they got there. stay with us. when we were dating, we used to get excited about things like concert tickets or a new snowboard. matt: whoo! whoo! jen: but that all changed when we bought a house. matt: voilà! jen: matt started turning into his dad. matt: mm. that's some good mulch. ♪ i'm awake. but it was pretty nifty when jen showed me how easy it was to protect our home and auto with progressive. [ wrapper crinkling ] get this butterscotch out of here. progressive can't protect you from becoming your parents. there's quite a bit

eddie lampert, sounds like he's doing a great thing, he's saving sears.nce again. we can look back and hindsight is 20/20, what did he do to this company? everyone talks about what a great investor quarter republicawarren buffet is.they'g themselves in a position to get deals that are advantageous to themselves and shareholders. dagen: the bigger they are, the bigger they've got pen. with buffet -- buffet and charlie monger, the bigger they've gotten the better deals they've been able to get. it's a snow ball effect. >> similar dynamic to what goes on with eddie lampert and investors like him, this is what happens. not a popular decision on my part. what else is new? dagen: isn't he viewed in part as a business destroyer, not a business savior? >> he's a different kind of animal than they are. i guess he admits it. hats off to you eddie. >> for years, i feel like every single -- every other quarter we're having this conversation. >> as long as eddie can figure out a new way to restructure it and figure out a good deal for himself, there you go, let's call

they don't like how eddy lampert ran sears. they have questions about some of the transactions that he did while ceo and they have said ther could be potential cause for litigation. >> does the bid have to be approved by the bankruptcy >>y yes has to be approved by the wruptsy kwort and sears advisers need to decide, hey, lampert's bid to kee sears alive is worth more than liquid eighters efforts to liquid eight it. and that's not black and white. >> we don't know when they are coming out the bankruptcy. >> we ton't know ify are coming out. >> they have the life line. >> yes. >> but still have to keep treading water at some point. >> exactly. >> lauren hirsch from cnbc.com thank you. >> thank you. >>> coming up in week's market monitor thinks the economy is it not as bad as some fear. three names he thinks you should have in 2019. >>> electric car makerla t named two new board members today. one of them is oracle cofounder larry ellison, the other is wahl green's head of global resources kathleen wilson thompson. the it sales a

its chairman, eddie lampert, put together a plan to buy the company out through his hedge fund. deadline for that is tomorrow and he has not submitted his offer. should he miss the deadline, it would put sears and kmart on the path to liquidation. the 125-year-old retailer has more than 68,000 employees. >>> it was a tense few minutes before fans of instagram today. the social media site surprised users this morning with a sudden change. a feed that scrolls left to right instead of the traditional up and down format. the test created an immediate wave of backlash on, where else, social media. the head of instagram took to twitter to explain the change was meant for a small test group, but a mistake caused it to roll out to a much larger group than anticipated. he says the problem should be fixed and if you are still seeing the new feed format, just restart the app. it's going to be okay, folks. >>> a sick sea lion nursed back to health and now going home. we've got video. we'll be right back. i am a family man. i am a techie dad. i believe the best technology should feel effortl

sears properties that were liquidated by sears and sold to the real estate investment trust that eddie lampert leading to some critics charging that lampert just looted sears. he potentially could be sued if this goes to liquidation and the creditors say listen, we think there's evidence this guy mismanaged the company, they could take him to court. if his bid is accepted, that bid would preclude any suits against lampert. so the clock is ticking here. as i said, it's 4:00 p.m. i don't even have my watch on. 4:00 p.m. what is it there? i don't know what time it is. blake: 12:15 by you. reporter: the clock is ticking. blake: just a few hours left. reporter: 4:00 p.m. eastern. just a few hours left. blake: two hours, 45 minutes. remarkable to see that could be what is coming to sears. jeff flock in chicago, thank you. >>> retail analyst hitha herzog now on if this is a failure on sears' part or a warning sign for all retailers. how are you? >> i'm great. blake: pretty remarkable when you see jeff standing there in the middle of a massive sears that had already been liquidated and a sears on the

eddie lampert hased off to buy sears. in last different effort to keep the cin going, sears said it will close another 80 locations. othat's on topthe 182 stores that liquidated after filin for bankruptcy back in october. >>> the government shutdown may have an impact on your weekend plans. >> here's amy cho with a look at what's next. >> reporter: i'm here at the national zoo. how they plan toake care of the animals. >>> plus, the rain is moving out. but it'sot quite done with us yet. amelia will tell us more. >>> and how one dna test helped a father track down his daughter a father track down his daughter 50 years after ♪ a father track down his daughter 50 years after not long ago, ronda started here. and then, more jobs began to appear. these techs in a lab. this builder in a hardhat... ...the welders and electricians who do all of that. the diner staffed up 'cause they all needed lunch. teachers... doctors... jobs grew a bunch. what started with one job spread all around. because each job in energy creates many more

chairman eddie lampert put forth a 4$4.6 billion proposal to buy back the company through his hedge fundmisses, kmart and sears would be on the path to liquidation. >>> century link customers across the u.s. were without internet services yesterday and into the night the outages affected atms, phone services and 911 emergency services century link tweeting its engineers identified a network element impacting services and they expected to restore services within hours. >>> aphria shares are soaring more than 20% on news that green growth brands plans a takeover bid for that company green growth brands is a marijuana retailer and aphria is one of canada's largest cannabis companies. >> that was a script from -- >> a mouthful. >> a lot happening in that script peter piper, we'll see you in a few minutes. >>> stock futures are on the rise we'll see if the momentum from yesterday's wild last 90 minutes of trading can continue. it looks like it will. dow futures indicated up 146 points right now if you're coming in, maybe you had a big day yesterday, coming out from under a rock, the dow did a

now all eyes on sears' eddie lampert and whether he makes a much discussed $1.3 billion read to themo the retailer. back to you guys. >> a seattle social worker living a frugal lifestyle, or it seemed. the former banker scrubbing and saving, and, the good news is he left it all for charities for children. thanks for joining us. meanwhile, leland vittert in the first step. >> president trump threatening to shut down the border if he doesn't get money for the wall. we will look at where things stand as a partial government shutdown heads into the second week. also another challenge for lawmakers next week, figuring out who is who among dozens of new members of congress. our capitol hill guru is showing how he keeps track this hour. store mack breaking news at 3:00 in new york city and at noon on the west coast. i'm leland vittert. news conference going on right now in modesto, california, and there are introductory remarks right now

there was a potential for a bid by eddie lampert, off the fellow who a ceo of sears and at some quiteught about a bid from him. he needed to secure financing but at this point it seems clear, unless there was an extension in this, but he has not secured it and will not, and that means liquidation for all of sears. the company announced an additional 80 80 stores today d be closed whether there was a bid or not, and now it appears more no bid and no more sears. what can i tell you, the amazon of its day replaced by the amazon of today and, sears no more. the sign is still up on this one, but that may be liquidated soon as well. trish? >> trish: all right, thank you very much. jeff flock. meanwhile president donald trump renewing a threat to honduras, guatemala and el salvador. you don't stop those caravans? we will stop sending the cash. will this work?vi we are on it. i wanted to stop. the thing is i didn't know how. chantix, along with support, helps you quit smoking. chantix reduced my urge to smoke to the point that i could quit. when you try to quit smoking, with or without chanti

sears chairman eddie lampert is the only buyer who has expressed interest in keeping the company in business, and he is reportedly struggling to come up with financing to make good on his $4.6 billion offer to buy the company. if no other offers surface, sears will go into liquidation. >>> 2019 is said to be a year of change for california law enforcement. as ktvu's alyana gomez tells us, several highly publicized police shootings inspired a pair of bills that will soon become law statewide. >> reporter: in an effort to increase transparency in law enforcement, governor jerry brown signed two bills. senate bill 1421 was written by state senator nancy skinner of berkeley and takes effect january 1st. it allows public access to internal investigations of police shootings and other use of force cases as well as records involving sexual assault by an officer. the second measure, assembly bill 748, does not take effect until july. it will require body camera footage of police shootings, and require footage to be released within 45 days unless it would interfere with the investigation. it was intr

chairman eddie lampert put together a plan to buy the company out through his hedge fund and he was talking about it but didn't submit it. finally, he submitted it today, on the deadline. sears advisers have until january 4th to decide whether it's a qualified bidder, but we do know the company will close another round of 80 stores. that brings the total number of stores that are closing to 260. five of those are in california, t ne of theaffected. >>> sound of chainsaws filling a popular park in berkeley today. activists showing up to protest the removal of trees in people's park. berkeley owns that park and says today's maintenance is 1 of 15 projects all over campus during the winter break. some of the trees they say are dead or have dangerous branches that need to go. they say others are casting too much shade, but activists maintain that killing the trees also kills the culture of that park. a cal spokesperson says the school is aware of the strong feelings but that the trees have to go. >> this is an iconic park, near and dear to the folks in the community, but we've got some really g

eddie lampert put forth a $4.6 billion proposal to buy back the company through his hedge fund the deadline is at 4:00 p.m. today if lampert misses, kmart and sears would be on the path to liquidation. as of yesterday it is said la lampert did not secure funding for the bid. >> long before amazon these guys couldn't compete >> how about jcpenney? >> jcpenney. >> below $1. >> walmart and target got their hands full with amazon sears and kmart. you know what they say about kmart. you don't know >> no. >> okay. >> are you going to share with the american people or no? >> i think most people have seen rain man, kmart socks. >> okay. >> yes >> that's all i know >>> century link customers across the u.s. were without internet services yesterday and into the night the outages affected atms, phone services and 911 emergency services century link tweeting its engineers identified a network element impacting services and they expected to restore services within hours. that stock slightly lower in the premarket. >>> aphria shares are soaring and this is not cool, dude, more than 20% on news that gree

it all -- reporter: that was eddie lampert's vision. charles: it was, right?xactly. i don't know that there's much real estate that's worth a whole lot of money left. that vision may not prove fruitful. charles: you know what's worrisome? when lampert makes his move, they were calling him the new warren buffett. he was getting a lot of financial tv and a lot of people poured their money into sears. it's a shame that it's been pulled apart the way it has been. it's been poorly run. they never got experts in there to save this company. it's really a shame. reporter: they didn't invest in it. this is a store that's been here since the '50s. it looks the same as it did in the '50s. they haven't invested anything in the stores. david: what it shows you, this is the year when we saw ge and sears, two companies that many people thought would never fail, you know, 20, 30 years ago, everybody said they were going to be here forever. you know who knows that, jeff bezos. jeff bezos gave an interview a couple years ago, he was asked is your company going to be around fore

sears, we will find out at 4:00 p.m., deadline for bids to buy sears out of bankruptcy see if eddie lamperts going to make fun of mike saying he is old enough to remember sears in the dow. >> it was kicked out along with other economy names. they let in microsoft and intel for the tech bubble to burst in '99 >> classic dow-jones move at the time we'll see you this afternoon, guys >>> when we come back, the nasdaq having the worst month in a decade, rallying hard to climb out of a 3% hole, end in positive territory slightly red today is a tech turnaround in the cards for the coming years we'll talk about that in a minute shield℠ annuities from brighthouse financial allow you to take advantage of growth opportunities with a level of protection in down markets. so you can be less concerned about your retirement savings. talk with your advisor about shield℠ annuities from brighthouse financial, established by metlife. from brighthouse financial, for each job exxonmobil creates, many more are created in the community. because energy touches so many industries, it supports 10 million u.s. jobs. >

however brief it might be the company avoided liquidation friday, thanks to a last minute bid by eddie lampertng in moody's retail analyst charlie shay and courtney reagan. start with sears what do you see happening in 2019 is it here a year from now >> i think so. i really do. friday is obviously the big day, if the bid is accepted >> why >> if the bid is accepted. >> lampert's bid. >> yes, i think there's a runway for them to stick around it will shrink. >> how many stores a year from now? >> let's say over or under 500 >> that many >> yeah. >> what are you hearing? >> i don't think it will be around we don't know the details of the bid, but it doesn't seem from reporting that it is different from a previous bid they did not accept i just think you look at sears and maybe walk away from numbers and think about what the company was, think about where it is today, think about where retail is going is there a viable place? do you want to do this to 50,000 employees? for what, a month, a week, couple months? >> what has it done to lampert's wealth >> that's a good question. >> he's been all -- h

a deadline yesterday for bids to keep the 142-year-old chain operating, the reprieve came when eddie lampertillion, however he is struggling to come up with financing. sears also owes kmart, and filed for bankruptcy. >>> wells fargo has agreed to pay $575 million to settle claims regarded to it's a fake -- in regards to it's a fake account scandal. the scandal involves employees allegedly setting up phony accounts for millions of customers, without their consent, or knowledge in order to meet sales goals. >> to members to the board of directors, oracle ceo larry allen said the chief human resources officer kathy wilson will be joining the board, it is a result of a settlement over elon musk's tweets, saying he was considering taking the company private, the board said two new directors were selected because of their strong beliefs and teslas mission of moving the world, over to sustainable energy. it >> one quarter of americans are working a so-called dream job, they had an above average salary, and of this group, 41 percent aspired to the business owners, the perks include a 9-5 shift, lots

eddie lampert, the largest shareholder of sears, kmart.financial relief to cover some debt. selling sears to himself. he already is the majority shareholder. this will only save 400 stores of sears. 50,000 jobs will also be saved if this bid is accepted. at the height though, sears is an icon. at the height of sears dominance it was largest american retailer in the country. housed in the tallest building in chicago's sears tower. it had over 2,000 stores. now we're at 400. charles: there has to be examination of private equity impact on these companies, whether toys "r" us, sears. i read about a big grocery chain, again feels like they think they know what they're doing but not always. there is a lot of destruction when they are wrong. susan: they doesn't foresee the online shopping trends. charles: check on the big names. momentum stocks. a lot are down for the year. a little bit of a mixed bag. facebook, probably biggest percentage loser. it had the roughest year for many reasons. one of our big tech watchers is on the ipos that will be

. >>> good morning among the stories that are front and center, eddie lampert's esl investments made.6 billion offer to buy sears the offer calls for about 500 sears stores to remain open and would keep 50,000 workers employed >>> walmart announcing it plans to buy art.com that's one of the largest online sellers of art and wall decor globally terms were not disclosed it will continue to operate as a stand-alone website but items sold will also be sold on walmart.com and jet.com. the retail giant has been buying e-commerce brands in a bid to try and attract younger shoppers who are not used going into stores. >>> and amazon is looking to bring its checkout-less store format, looking to break that format to airports the amazon go stores opened in seattle, chicago and san francisco. customers scan their smartphones at the entrance and cameras and sensors identify what they take off the shelves. amazon is evaluating top u.s. airports for new locations, targeting hungry time-pressed travelers. >> it's an amazing way to not just test the service itself but for individuals to experience it