ok well the latest is that eddie lampert the chairman who many believe ran the company into the ground when he took over in two thousand and thirteen and merged with kmart he won the auction that took place in a new york court room monday tuesday and very early yesterday morning very early today late last night he won and he originally came in with an offer of four point four billion to save the company last week that was turned down it went up to five billion and then he went up to about five point three billion and that's the offer that stands now the judge has to sign off on this february first but reportedly the wall street journal says the judge was pushing for this to say four hundred stores and fifty thousand jobs so he'll probably sign off on it a lot of creditors are not happy because eddie lampert is going to benefit here number one he's not going to be responsible for any liability and the lawsuits that come from creditors number two his hedge fund gets one point two billion dollars debt forgiveness so some of these creditors are saying you know i wish we would just liquidat

>> you know, eddie lampert is the guy that has run the joint into the ground now he will save 400? look, eventually they will all be gone. it's a matter of fact. in my hands here 20 pages defunct retail companies, small, medium, large, extra large. most of them have the same thing in common. they never changed with the demographics, with the new type of outfits or new technology. and they were never managed well. eventually somebody beat them to the punch and they went out. sears will be next unfortunately because a lot of people will lose a lot of jobs. connell: remember all the profiles done in all kinds of magazines about eddie lampert, the next warren buffett. all that kind of thing. not written anymore but what is the future, or is there a future for sears? >> yeah, those profiles didn't were not very prophetic, connell if i could say that right. are another one in that list is service merchandise, an old time favorite of mine. most companies have a lot of things in common, massive amount of debt as sears does, haven't made any money. sears hasn't made any money since my daugh

eddie lambert's efforts continue >> brian, sears chairman eddie lampert has submitted a newly revisedbillion bid which may be the only hope to keep the iconic retailer alive. this comes after they rejected his initial 4$4.4 billion bidia insufficient as part of this new bid lampert will cover the tax and vendor bills f. sears accepts this offer as financially viable, lampert and his hedge funds, esl investors, can take part in a bankruptcy auction this is the only one that would keep the company alive any offer would need to be approved by a bankruptcy court on january 31st. it's been tough times for sears. suffered sevenstraight years without turning any profit and 46 straight quarters of declining same store sales back over to you. >> frank holland, thank you very much. >>> on deck, why one of america's hottest startups is changing its name and maybe its game plan. >>> later on, oil kicking off the year with a monster rally. smart investors have banked some coin in a very short amount of time if you missed the move on oil. 5:12.manwereacrit after thisk gh ♪ ♪ memories. what we deliv

e wire for sears eddie lampert's hedge fund is protesting sears' decision in court. courtney reagan, what is story it is. and i understand lauren this is playing out minute by minute so the judge now giving him more time >> a little bit more time. so just to catch you up, so on friday, sears advisers had decided eddie lampert's bid to save sears through his hedge fund was insufficient. the biggest reason that they didn't like the bid was because it didn't cover all the administrative experiences including its lawyers and bankers. so sears rejecteded his bid. the plan was to go to the bankruptcy judge to say that we will liquidate at the last minute which is the story of sears, they delayed the hearing until about 12:30. >> so just an hour ago >> exactly and they brokered a deal and from sources that i was talking to, esl said we're short of administrative expenses look at what you're saying your lawyers, look at what you are paying your bankers. that is the reason why 55,000 jobs goes away and it seems that they were persuasi persuasive >> but they have to come up br

eddie lampert.ut will it matter as the retail ice age continues to freeze out some of the one-time biggest oldest names in the market. hillary vaughn with the retail reality check, next. witnessed, but i can tell you liberty mutual customized my car insurance so i only pay for what i need. oh no, no, no, no, no, no, no... only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ i am not for just treating my symptoms... (ah-choo) i am for shortening colds when i'm sick. with zicam. zicam is completely different. unlike most other cold medicines... ...zicam is clinically proven to shorten colds. i am a zifan for zicam. oral or nasal. comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of

is has been saved from bankruptcy its chairman eddie lampert has won approval for a multibillion dollarplan to keep it afloat forty five thousand jobs and four hundred twenty five stores across the u.s. were on the line founded back in eighteen eighty six is had its heyday after the second world war and consumer spending rose but in recent times cut for competition from the likes of target and wal-mart as well as a hammering after the financial crisis has left the american retailers situation on the brink of collapse. such a bank may not get the go ahead for a merger intended to reverse its ailing fortunes according to the reuters news agency regulators is no longer believe that his plan to merge with the fossil of domestic rival comments makes sense if confirmed the change of june would come as a blow to her as it seeks ways to revive growth and restore its battered image regulators reportedly believe the country's biggest bank needs a more powerful partner to help address its problems. as we mentioned earlier the financial sector readying for brakes it searching new headquarters in pl

attorneys for sears said, they reached an agreement with a hedge fund controlled by eddie lampert, thechairman and former c-e-o of sears ... and the largest shareholder. the deal will keep 425 of the stores open and save thousands of jobs, if certain conditions are met. under the new terms, lampert must come up with 1- hundred-20 million dollars in cash by tomorrow, as a down payment. the auction period for liquidators looking to close the stores ends on january 14th. at this point, lampert's bid is the only one designed to keep sears open. (ken) is it bigger than a "breadbot"? chances are... no.we've got a first look at some new tech that has c-e-s buzzing in las vegas.. next. (ken) the consumer electronics expo officially began in las vegas today. it's the yearly consumer tech conference where tech companies display their latest offerings. among the popular items at the conference this year: mobile breast pumps, fuzzy robots and smart-home security cameras. stealing the show, however... "breadbot." it is an automated device that bakes different kinds of bread, including whole wheat,

newsroom with latest on this. >> a bankruptcy judge threw a lifeline to sears holdings chairman eddie lampert has another chance to buy the retailer out of bankruptcy. he had to make a good faith deposit today. by about 20 minutes ago. i am waiting for word to hear whether that happened. the good faith deposit was $120 million. the judge threw lampert a lifeline because without the extension, sears would have already begun to liquidate. what we do know in late december, as we've been covering on this network, sears really narrowly averted liquidation, after lampert made 4.5 bid through hess hedge fund buy the company. after 126 years in business, sears filed for bankruptcy in october. this retailer was once the walmart, amazon of its day, was less profitable in 2010. it has been struggling more than a few years. the independent board, sears creditors, wants to wind down the retailer significantly i will say because they want to make sure they get paid. hedge fund manager turned ceo, wants to keep 425 sears and kmart stores open. he thinks he can save 50,000 jobs at the process. most creditors

he bumbled along for five years and then handed the company over to eddie lampert the fact is that thisknow i've been saying for a very long time were inevitable lampert is proof positive that just having a lot of money doesn't mean you have any intelligence or skill or capability, and he certainly hasn't demonstrated any of that. in fact, i would submit he had no intent to run this company in any way other than to line his own pockets. so it's not a surprise that creditors are pushing back on the scheme that he's come up with to take the company out of 11 through use of a credit bid they see right through the fact that there is no future for this company, and even if it is somehow allowed to come out of 11, it's going to go right back into liquidation promptly. >> when do you think the last period was where the company was saveable as it -- was it before lampert's tenure or at some point during >> well, i think that the company was damaged in the 2000 and 2005 period by a ceo who really didn't know what he was doing. but the company was not fatally injured. it could have been remediate

, the chairman eddie lampert, the chairman and former ceo of sears. eal will keep 425 of the stores open if certain conditions are met. under the new terms, lampert must come up with a 1-hundred-20 million dollars in cash by tomorrow, as a down payment. the auction period for sears ends on january 14. it could take days or weeks to determine the winning bidder. lampert's bid is the only bid designed to keep sears open. (vicki) kroger and microsoft are teaming up to try to compete with amazon. the companies announced a partnership to bring digital shelves, price tags and advertisements to two pilot grocery stores in ohio and washington state. amazon previously announced plans to have up to three-thousand cashier-less stores by 2021... and walmart's sam's club has already opened one of its own. these options are designed to save time and money. with digital in-store options, shoppers can avoid long lines. employees can also can easily locate items to deliver to customers for pick-up orders. (grant) california is trying to cut down on paper waste. a state

eddie lampert won the share option with a $500 billion bid today. he will now be able to keep the roughly 400 remaining stores open and save the 150,000 jobs. this comes as sears was forced into bankruptcy in october. >>> the dow jones is up nearly 200 points. stocks are in positive territory following results from major banks like saks and bank of america. >>> risky pranks and bird box anytutting daauseveongerwelcomua emotional stress. making sure what's funny doesn't cross the line into being harmful or dangerous. prank videos have two months to review their content. >>> back to our storm watch. check out these whiteout conditions at the resort near lake tahoe. you were brave enough to go outside and thanks to these elements, traffic also came to a standstill while snowplows clear the roads and it sounds like it is going to get even crazier over the next 24 hours. >>> that's right, we are tracking this powerful storm system that will bring a lot of rain to the area and even a blizzard warning up in the sierra. we are talking a lot of rain and a lo

last week eddie lampert submitted a revised $5 billion offer that would keep 425 sears and kmarts open and up to 50,000 employees working. it's unclear how that bid stacks up against others which are mostly from liquidation firms. if the bid loses, it is possible k kenmore and diehard could live on. >>> shipping news. fedex is testing residential delivery of bulky products. that's something that was traditionally left tow trucking companies because large items don't fit well into a courier center. that would be offered through fedex's freight business. they would carry washing machines and sectional sofas into your house and put them together. >> if they could do the laundry, that's even better. >> there you have it. >> thanks, frank. >>> coming up on "today in the bay," kari has a look at the forecast. >> we'll start out dry. we'll see rain by the afternoon. a live look outside in san jose at 101 as you get ready to head out. over towards evergreen, we could see rain as early as 9:00 this morning. i'll track this and some stronger systems for the work week coming up next. >>> we'll st

sears chairman eddie lampert reportly winning his bid to save sears.proved his takeover bid to roughly $5 billion adding more cash and assuming more of sears's liabilities. his offer was made for his hedge fund, and it will keep about 425 sears or k-mart stores open potentially saving up to 50,000 jobs keep in mind, a judge must still approve lampert's bid. creditors have objected, so another hearing expected to be scheduled for later this week. >>> shares of snap are going to be your big stock story today. they have broken they're down 9% in the premarket. cfo tim stone resigning less than a year after taking the job. this follows the loss of snap's chief strategy officer and vp of content late last year now, in the meantime, snap says it does expect a report fourth quarter revenues and earnings near the top end of its guidance, but the market doesn't care focussing on the cfo leaving after just eight months. >>> united continental airline getting a nice pop beating on both the top and bottom lineses also issued a rather rosy outlook for earnings in 2

attorneys for sears said they reached an agreement with a hedge fund controlled by eddie lampert, thechairman and former ceo of sears. the deal will keep 425 of the stores open if certain conditions are met. under the new terms, lampert must come up with a 1-hundred-20 million dollars in cash by tomorrow, as a down payment. the auction period for sears ends on january 14. it could take days or weeks to determine the winning bidder. lampert's bid is the only bid designed to keep sears open. (anchor) taking a live look at san francisco's embarcadero... another storm is moving into storm is another storm is moving into the bay area. (anchor) time now to check on our weather... with chief meteorologist lawrence karnow. lawrence karnow: we had a few showers today but most of them were light. doppler radar is now tracking more rain off the coast. rain will be heavy tonight before midnight then turn to showers. the winds will also be very gust and a wind advisory is up for much wi cotomorrow with highs only in the 50s and the low 60s. it should be dry on thursday before more rain moves in on

it's chairman and largest shareholder eddie lampert made an offer. it will keep 50,000 employees working. sears will hold an auction for assets. they will then decide between lamperted office and that. >>> the company will show off a fully functional phone with foldable screen. it will be at an event in san francisco and london. it will be ready for mass pr sfering a mainly slide in phone sales last year. those are cnbc headlines, marcus an i lt ike i have one. i put it in my back pocket and it folds. probably not the best thing. >> the hinge. what happens when the hinge breaks? >> i don't know. frank, you get it first and you tell us all about it. >> thanks, frankie. 4:41, next on "today in the bay." the time line for bay area's next storm. >> right now in a break we're seeing patchy fog across parts of the bay area. here is a look in san jose at highway 101. as we head to sunnyvale in the upper 40s, enjoying the break with sunshine. we'll talk about what's ahead coming up next. >>> the san mateo bridge nicely across, westbound taillights. a clear v

eddie lampert has raised his bid to keep the retailer in business. hedge fund has made an offer of more than $5 billion to cover severance for workers and bills from suppliers. sears is on the verge of liquidation after the rejection of an earlier offer lampert. the partial u.s. government shutdown could delay two of the most anticipated ipos of the year. bloomberg has learned neither t have received comment from the securities and exchange commission about the proposed offerings. both have filed confidentially with regulators. ford is launching a broad restructuring of its european operations in an effort to make the business profitable. thousands of jobs will be cut. the automaker is not ruling out shutting down factories. or has struggled with a shanking market share in the u.k., its biggest european market. that is your business flash update. are now on the 20th day of the partial government shutdown here in the u.s. of course, with a very divided government, i was curious about what would happen to the new left, the usmca. i spoke with the chamb

eddie lampert, majority stakeholder in sears and what these other stake hold remembers accusing eddiedoing, stripping sears of the best assets before dumping the chain into bankruptcy and trying to reacquire it on the cheap. so $5.3 billion. this is the hail mary offer that esl and eddie lampert put on the table to save sears. 400 stores, 60,000 workers. sears has 126 of-year history. when eddie lampert first bought sears in 2004, merged it with kmart. they had 4,000 stores, 200,000 workers. charles: by he was being called the new warren buffett at the time. there was a couple financial stations i won't say who, urging people to buy the stock. that is all i'm saying. susan: i watched a few interviews there. charles: thank you. now there is this. plenty of controversy overgillette's newed new ad, for men to shave away toxic masculinity. fort knight is keeping them up at night. this is about the gaming revolution, "varney & company" has been on before anyone else. more "varney" after this. ♪ [ phone rings ] hi, tom. hey, how's the college visit? you remembered. it's good. does it make t

eddie lampert when he point lampert very much was looking at kmart as a real estate play. s never that i think that eddie very much viewed the combination as the potential for him to have an operating success longer term. he, as you may recall, would talk quite directly about the way that he thought a retail business that should be -- should be run and how that was different than conventional wisdom, and -- and shortly after the -- a combination of the two companies he proceeded to buy back $5 billion worth of stock at well north of $100 a share so i think that eddie, you know, very much was looking to have an operating success and to have an operating success principally under the sears brand name and obviously that didn't take place. >> yeah. so chose not to invest in the stores, of course, is one of the key criticisms, and to your point spent an awful lot of money buying back stock at very high less. let's assume he didn't though and decided to put that $5 billion back into investing. do you think it would be a different story that we'd be viewing right now. >> well, i t

the once dominant department store sources with the matter tells cnbc.com that sears had given eddie lampert'sg to sweeten its bid before filing for liquidation. as of late monday night it was not sufficient esl declining to comment. when they fooled for bankruptcy, eddie stepped down he owns 31%. his hedge fund owns 19%. he and his fund are both the largest equity and debt holders for sears holding. before the bankruptcy filing, lampert had proposed a plan to restructure to avoid it but that came only years after complicated financial plans that lampert and his hedge fund took to keep things going sears hasn't made money in several years. shoppers have complained of empty shelves and racks for some time kmarts, too, for some time at its sales peak in 2007, sears was raking in more than $57 billion. last january, they pulled in about $17 billion in revenue but when they filed for bankruptcy, they had liebltds or money than $11 billion and assets of just over 11 it's going to be a sad day. >> the great ironry that amazon became the most valuable company in the world on the same day that sears -

attorneys for sears said they had reached an acceptable agreement with a hedge fund controlled by eddie lampertirman and former ceo of sears.so sears started the clock on an auction period that ends on january 14.if you think netflix has been churning out a lot of movies, just wait and see what the count will be by the end of 2019.according to a barclays report released this week, the streaming giant plans to this 35 documentaries--and based on the average budgets for the genres netflix targets, barclays projected netflix could spend $2.5 billion to $3 billion to make them.that's more than any other studio besides disney.a new study of 30,000 4-14 year olds in the u.s. reveals how much allowance kids got last year, what they did with it, and that smart money habits can start young.rooster money says the average allowance paid to 4 to 14 year olds last year was 471 dollars last year, or 9 bucks.a week, and kids saved 42 percent of that.most of the kids did work around the home to earn the m oney.69 percent of parents gave a regular allowance.live from the nasdaq marketsite, i'm jane. king back t

theably, eddie lampert put company into bankruptcy in the first place with the purchase of kmart.e him there, he has won the bid and will not receive from searstcy assets that he caused. now we get to our top stories with dani burger. what do you see in terms of the movers this morning? >> hard to believe that there is more going on with brexit, the twin sears and these other stories. the biggest gainers on the stoxx 600 today, brazilian companies. the brazilian president lifted an embargo on one of the largest aluminum factories. there is a federal embargo, so that is the next hurdle for the company. the other side, the worst performer today, pearson. earnings on average, not too in a line with the guidance, but they are cutting on their debt. this is one of the least loved the stockeurope, so is not done more than 5%. finally, michelin is down 1.5%, in sympathy with its u.s. counterpart, goodyear. goodyear yesterday reported earnings which missed expectations, due to a weak tire sales in china, europe, the globally.ggling we will keep an eye on continental today as well, with eu

reuters reporting the retailer's chairman and largest shareholder eddie lampert has won the bankruptcy auction for the company's assets. he reportedly raised his takeover offer to $5.2 billion. the proposal would keep 425 sears and kmart stores open and save up to 50,000 jobs. the deal must still be approved by a judge. >>> verizon adding free apple music to its price year unlimited data may costs $10 a customers who have either the beyond unlimited or above unlimited plans. verizon first partnered with apple last year offering six free months of apple music for customers with post paid unlimited data plans. >>> splint unveiling a new rewards program that appears to compete with t-mobile tuesdays. >> you install the my sprint rewards app on your phone. among the perks, a free large one-topping piece with a from papa john's, $20 off sam's club membership and up to 38% off of amc movie tickets. >>> coming up next on "today in the bay," the biggest storm to hit the bay ground is already soaked, as you head out the door this morning, with some light showers moving through. sajose i lng at

eddie lampert still waunts nts a very big way. he continues to put in a higher bid. we't know which way the decision is going to go. what is sears' way forward? >> you know, i have stopped -- i do other things with my day job now so i don't -- i have a feeling that sears is over except for basically being a real estate holder and iconic brand that much older people spent their lives with. you kn, one in 30 americans have worked at sears at the point i washi writing book. i basically think in many ways what happened me recently after i wrote my book is the financialization of the economy is somewhat mythic in a sense thatup -- great companies are built by unleashing things with capital. it's hard work and creativity plus capital. anus this was a case where it doesn't work that way. it's a bunch of real estate at this point. >> right. but realistically and quickly, you know, the model the retailer has to have today if they're not just purely online you have to have a brick-and-mortar store as swell. there a good combination of that. >> there are plenty of oibrick-and-m

sources say chairman eddie lampert's $4.4 billion bid to save hundreds of stores and 50,000 jobs fell. negotiations are underway before a court date tomorrow. the 126-year-old department store chain currently employs some 68,000 people. >>> a trip to disneyland will now cost you more. the california resort raised prices yesterday ahead of the opening of its "star wars"-themed expansion this summer. the cheapest daily ticket now costs more than $100. annual passes and parking passes also jumped 25%. ticket prices increased up 18% less than a year ago. >>> "aquaman" topped the north american box office for the third straight weekend. >> in this trident resides the power of atlantis. >> the movie brought in more than $30 million in north american ticket sales. "the escape room" came in second with an estimated $18 million. the thriller only cost $9 million to make. "mary poppins" ranked third place with $13.8 million. >> diane king hall at the new york stock exchange. thank you. diane. >> thank you. >>> still ahead, an unbelievable ending for the bears. what was supposed to be a game-win

eddie lampert's bid will go to an auction next monday and will compete with other bids from liquidatorsut down the company. employees at the struggling department store chain have ed for a hardship fund.thg to r toys 'r' us modle when it went bankrupt. workers collected $20 million in severance pay. >>> parents of a florida teenager killed when a tesla thmother and father of edgar ui. monserratt martinez said the tesla model s their son was traveling in had a defective battery and erupted into intense flames. they also say tesla removed a speed limiter on the car without consent. a preliminary report says the vehicle was traveling at 116 miles per hour before it crashed and burst into flames in ft. lauderdale. >>> and nissan is showing off a new version of its hit leaf electric car. today's unveiling at the company's headquarters in japan had been postponed after the arrest of executive carlos ghosn last november. the new leaf gets more power and cruise range and costs about $38,000. it rolls out in the u.s. in the spring. anne-marie? >> looks like they redesigned it a little bit. looks

a judge is giving sears chairman and larst shareholder, eddie lampert, and his hedge fund, esl, another chance to keep the retailer alive, less than three months after it declared many doubt it will ultimately be enough. sears and lampert hav a long, complicated history. he was ceo until the bankruptcy filing in ndoctober, a he and his hedge fund spent years and likely billions of dollars on a number of complex financial engineering maneuvers to keep the company running. and while sears has been operating, business hasn't been good. debt has piled up. sears and k-mart stores deteriorated over time and weren't remodeled or refreshed. empty shelves weren't uncommon perhaps what's most ironic is sears history as a catalog retailer gave it the infrastructure and the expertise to successfully operate in e-commerce, but p it wasn't to good use. >> massive transformation on the back of the catalog, on the back of the internet to turn this into a f company of thure instead of a company of the past. >> reporter: sears holdings hasn't mad money in more than seven years. in 2011 sears holdings had

ccording to multiple reports, theretailer's chairman, eddie lampert, won a bankruptcy auction aft sweetening his offer twice to more than $5 billion. lampert's last-ditch plan must first be approved by a bankruptcy judge. if approved, it would keep about 400 stores open. but the company is not out of the woods yet. there e reports that some creditors still object to lampert's plan and would a total liquidation of the retailer. >>> the departmeneof agricults recalling workers to temporarily reopen an agency that provides services to farmers and ranchers. about 2500 farm service agency workers hale beend back to work without pay, by the way, to process existingns farm l and to provide tax documents. the office will not process new applications for trade aid payments, by the way. b >>> andore we go, here's a look at the final numbers from wall street. the dow advanced 141 points, the nasdaq added 10 and the s&p 500 was up 5. and that is "nightly business report" for tonight. i'm sue herera, thanks for joining us. >> bill griffeth. rip, mr. b. we'll see you tomorrow. >> this is "bbc world news a

. >>> the bankruptcy auction for place.assets will tak as you know, chairman eddie lampert submittedvised $5 billion bid. >>> at the detroit auto sho the automakers will show off their vehicles of the future. that's what to watch for on monday. >>> consumer prices dropped for e first time in nine months. the decline was due in part to a dropnasoline prices. overall the consumer price index dipped by 0.1%, which was in line with economists' hopectations. the report alsod that health care and rental costs rose steadily. >>> well, the holidays may be over, but gift returns are in full swing, creating headaches for the companies who have to sort through them. the process is so arduous and costly, that manyf those items don't even make it back to the store shelves, and some companies are getting creative whe it comes to managing returns. courtney reagan is in indianapolis. >> reporter: it's that time of year again, return season. during and after the holidays, returns spike from all those unwanted gifts. but it's a growing issue for retail beyond theay hol season. >> the general in-store retur

sears' chairman eddie lampert presented a new bid for the company yesterday that added some concessionsis previous $5 billion proposal. the company says it's weighing lampert's offer against the sum it would recoup by winding down its business and selling its assets. liquidating the retailer would mean layoffs for as many as 68,000 people. >>> filling prescriptions at walmart may soon become harder for some patients after news the waart is leaving the network th people who get drug benefits from their employers and some medicaid members may not be able to pick up prescriptions at walmart. >>> and mcdonald's lost its right to trademark big mac in a ca broht birischaieue pean uii onsuperm lac's.erft supermac's said it never sold a product called big mac, but that mcdonald's used the similarity expansion in the united kingdom. the judgment says mcdonald's did not prove genuine use of the trademark in the european union. mcdonald's can appeal the deci i guess they weren't lovin' it, anne-marie.sion >> very clever. obviously not. diane king hall at the new york stock exchange. thanks, diane.

eddie lampert, who is also sears majority sreholder sweetened his offer in order to win approval from a federal bankruptcy court. lampert's hedge fund will take on about $660 million in additional liabilities. in an effort to strengthen itsa propefore a monday bankruptcy auction. the hedge fund said that the plan will, quote,rovide more value to stakeholders than any other option, in particula a liquidation. >>> coming up, one of the mos popular vehicles on the road is getting a makeov. >> it the first all-new redesign of the ford explorer in eight years. but is it enough to hold off the competition? i'm phil lebeau. that story coming up on "nightly business report." >>> some positive ns for the housing market. mortgage rates have fallen to a nine-month low. according to freddie mac, the benchmark dropped to 4.45% last week. that was the sixth straight week of declines, but it is also still higherompared to last year. the drop has prompted a rise in imortgage applications a refinancings, but asee we've reporting, the partial government shutdown could keep some of those applications fr

retail a says has been saved from bankruptcy as chairman eddie lampert had won approval for a multibillion dollar plan to keep it afloat forty five thousand jobs in four hundred twenty five stores across the u.s. were on the line founded back in eighty nine eighty six days at its heyday on the second world war when consumer spending rose but in recent times contrary to competition from the likes of target and wal-mart as well as a hammering off of the financial crisis has left the american retail institution on the brink of co. and just a reminder of the top story we're following for you british prime minister theresa may is seeking cross party consensus on how to move forward with breaks it off to her government narron he survived a no confidence vote show present a revised plan to parliament early next week. and good news from human rights watch as it presented its annual report him but today the advocacy group says the past year has seen a growing pushback against torture kratz and other human rights abuses. if you know what you tell me news from berlin i'm kind of a home for you rememb

has reached a deal that will keep 425 of its stores open.s said, they reached an agreement with eddie lampertr c-e-o of sears. the deal will also save thousands of jobs, if certain conditions are met. under the new terms, lampert must come up with 1- hundred-20 million dollars in cash as a down payment. the auction period for liquidators looking to close the stores ends on january 14th. (james) james adlib big board. ( darya )coming up at 7... a teacher caught on camera... dragging a student with áautism. now the parents are demanding justice. fitting in good doesn't have to be hard. however you fit in good, is good with us. with twelve grams of protein and eighty calories in light and fit greek non-fat yogurt, it's easy to fit in good. don't miss the grand opening of thin burlingame.decor if you have never been to a floor & decor, you have to go to the grand opening. hardwoods, laminates, tile or stone. holy smokes, this place is huge! i'm on a budget and i was able to go to floor & decor and save a lot of money. you will be blown away by this experience. the pros come here, i come here. if

. ♪ ♪ >> eddie lampert as become a 2020 campaign issue.zabeth warren slammed him in a letter citing his inherent conflicts of interest in his takeover of sears. she addressed lampert that it appears you have enriched yourself on driving the company into bankruptcy. this is familiar ground for the massachusetts senator who has centered her presidential run on making the economy work for the middle class. capitalism without rules is theft. encouraging companies to build business models on cheating is not capitalism or competition in the marketplace. that is not producing consumer surplus. i believe in capitalism with serious rules. >> for more, bringing in a reporter from capitol hill. i am thinking about president trump calling out ceos and companies. is this going to be a new thing in politics where candidates and politicians feel more company -- feel more comfortable about calling up business practices they do not like directly? >> for some of them, certainly. it is comfortable terrain for senator warren. she has been writing books about

>> this reminds me of eddie lampert.then leasing them back to the other entity >> clearly the board at some level seems to have understood or known about some of this. in one of the instances, they stopped it there was a situation in chicago where he actually is part of one of the leases wanting to actually buy -- >> is the company still wework >> we company. but this is going to raise new questions. >> it's the we company in the meantime, let's get down to jim cramer. you're on a little bit early, jim. that's exciting. goldman sachs, you know a little bit about that place, huh? >> well, look. they're making money i saw what wilf said obviously the malaysian situation is going to overshadow even what they do. but maybe it shouldn't because the tangible book value is up so big. i'm kind of impressed with all of the banks they've really done great things wells itself, probably the weakest because they have to take care of certain things. but this is a good number. and you could argue that it's a growth number. people who h

accept a 4 point 4 billion dollar bid from the hedge fund run by its chairman and former ceo, eddie lampert for keeping 425 stores open and offering jobs to 50,000 of its remaining employees. any word from sears on the status of the bid. lampert's hedge fund also declined to comment. a hearing is scheduled today in bankruptcy court. coming up on the kron 4 morning news... .. gavin newsom starts his first full day as our governor. we'll take a look back at his inauguration. don't miss the grand opening of the new floor & decor in burlingame. if you have never been to a floor & decor, you have to go to the grand opening. hardwoods, laminates, tile or stone. holy smokes, this place is huge! i'm on a budget and i was able to go to floor & decor and save a lot of money. you will be blown away by this experience. the pros come here, i come here. if you love your wallet, and you love your home, you have to go. floor & decor. now open in burlingame, 101 & broadway in the old gokart racer building. (ácommercialá)(áábreakáá) (james)(darya) lets start the half hour with a check of weather and traffic.

some is eddie lampert's.mpany owes him, using that to go back to buy the company. he also put real cash into the company of his own. he continues to have faith what is going on there even as this company has slid into the abyss since he was first involved in 2000, roughly 14 years ago. where he was a 50 billion-dollar company. now, after reopens i would expect to be single-digit billions of dollars of sales. actually irrelevant in the landscape of retail sales in america. stuart: you're the guy who knows more about retailing than any other guest on this program. i will declare that i think that is true and i want to talk to you about macy's. they turned in a poor performance this past holiday. the stock was whacked. what happened to macy's? >> well i think people are confusing the fundamental retail trends taking place with the health of the american consumer. so what is going on which is no surprise to anyone that sales are shifting from traditional department stores to mass merchant stores like costco and t

last week eddie lampert ubmitted an offer that would keep sears and loyees open and 50,000 e workin it's unclear how that bid stacks up against other which are mostly from liquidation firms. if lampert's bid is possible, the brands could live on. with your cnbc business report, i'm frank holland. >>> first traffic alert on i-270 involving a montgomery county police officer. northbound 270, the local lanes before montrose road. we just spoke with montgomery county police. e officer is okay. there's other injuries. we're shut down. northbound 270 before montrose in the local lanes. the maines are getting true. thisws sho you how slick the roads can be. you have to take it slow. chuck? >> absolutely right. get your ice scrapers ready. get all of the snow off of the roof. make sure your windshield fluid is tipped off, as well. you're going to need a l hey. i heard you're moving into a new apartment. yeah, it's pretty stressful. this music is supposed to relax me, though. ♪ maybe you'd mellow out a bit if you got geico to help you with your renters insurance. oh, geico helps with renters insu

this comes as sears considers bids for its assets including a $5 billion bid from the chairman, eddie lampertto try to save this company. why just use a billboard to advertise when you can use a billboard to feed customers? did i say that right? tracee: this is a new idea. to prove that everything is just better with nacho cheese, taco bell in canada is launching the nacho cheese naked chicken chalupa in a big way with a nacho cheese dispensing billboard. next saturday in toronto, nacho choose lovers are encouraged to bring any snack they like for the ultimate nacho cheese upgrade. >> gerri: my canadian husband is definitely going for that. tracee: when can we bring that here? >> gerri: 2019 already seeing its first social media trend. what is it. tracee: social media users are taking the how hard did aging hit you challenge. the challenge first began on facebook with users posting their first ever profile picture and their most recent profile picture side-by-side to compare how much they changed. we decided to take the challenge. here are the results. here i am in 2009 and here is a little o

tracee: chairman eddie lampert gets one final chance to keep sears from closing down after the retailergreed to let him compete in a bankruptcy auction that will decide the store's fate. they plan to hold the auction on monday to determine whether what is left of the chain will be liquidated or left in lampert's control. the retailer's board members and creditors want to wind down the business but lam lampert wants o keep 125 stores open. lauren: a you new year's resolution for facebook's ceo. tracee: every year mark zuckerberg puts out his list of goals for the year. last year his goal was to fix facebook and in 2019 he says i wants to host a series of pub discussions on the role of technology in society. he will talk with leaders, experts and people in the community from different fields. zuckerberg also saying he expects to continue focusing on all of these scandals, the issues that facebook faced like cambridge analytica and the 2016 election fallout. facebook trading higher in the premarket. cheryl: at least he didn't tell us he wants to see every state in the united states and vis

earlier this morning, former sears ceo eddie lampert won the bankruptcy option and will keep over 4, store open. he upped the bid to $5.2 billion winning the auction and beating out a bid that would have sold sears for parts, liquidating everything for cash. that liquidation bid was supported by groups that are owed money like creditors and landlords. the judge has to sign off on the bid at a hearing february 1 in white plains, new york. the judge presiding over that, robert drain, has pushed for lampert to make this deal with sears and save these jobs. some creditors are not completely sold that this is a good idea and that this will revive sears brand, shep. >> shepard: what are you hearing from analysts on this? >> analysts i talked to today think that this last ditch effort to keep sears alive is dumping more cash into a company that's been dying off for decades. telling me it's too little too late without fundamental reinvestment in brand, service and multichannel relevant. another analyst saying that lampert's leadership is going to seal sears fate. it's the same leadership tha

they have a date of february 1 to approve the sale, that's currently scheduled, but wow edd eddie lampertulled another rabbit out of his hat. to button up the pentagon news, to fact check it, i believe the budget authority for national defense was actually larger in 2010 and 2011, so want to be sure the president gets the numbers right or at least we do. back to the discussion on netflix, henry, you saw this with the iphone x. price goes up. people say it is great i want to be sure investors don't necessarily get burned again, if in fact subscriber growth has slowed as netflix is raising prices, does that change the story line around what netflix is trying to do? >> i think there's a lot more pricing power to go. talking with victor, he thinks we're reaching a limit i can tell you in our household, there's more pricing power, use it all the time. netflix were to inch it up to $20 over times, seems reasonable relative to cable. they're starting to fragment plans as victor talked about there are many ways to slice it. i think the price increase will quickly be old news. there will be a litt

it has now come out against eddie lampert's proposal to take over the company. the judge approved lampert's $5 billion bid two weeks ago. the government is worried about alas bid that could lead to sears getting court approval to wipe out its pension. >>> a live look at the new york stock exchange. trading is getting under way this morning. we are up in the green 114 opponents right n points right now. that's good news for investors. it was lower yesterday on concerns china is impacting u.s. companies. apple is set to report earnings today. that could have a big impact on trading. speaking of apple, the company is this morning promising to act fast to fix a new iphone bug that could let people listen in on you. >> that bug was first discovered by a twitter user and 9:00 to 5:00 macrepoac reported on it.i. it happens when they use the group call feature. even if the person doesn't answer, the caller can be heard and possibly even seen on video. >>> abc's tech reporter on "good morning america" to explain how to protect yourself. >> there is something anybody can

bankruptcy judge if it can proceed with liquidation after it couldn't reach an agreement with eddie lampert. he wanted his hedge fund to take over more successful stores but didn't meet improve. he's expected to offer an improvement today. the judge could give him more time to improve on his bid. bankruptcy not due until monday. sears has dozens pf stores in the area. if the judge rules in favor of sears sources tell reuters the inventory of appliances, fixtures will be sold in fire sales. abc matt keller. >>> governor newsom will spend the first day in office speeding up responses to how california responds to wildfires and other disasters. the governor will meet with safety officials in the sierra foothills. this afternoon's meeting follows a series of deadly wildfires in northern and southern california last fall. governor newsom set the tonight for the new administration yesterday when the democrat delivered his inaugural address and he took aim at the trump administration. >> at a time when so much of america is divided, we are united. we will offer an alternative to the corruption and

chairman eddie lampert, who held a torch for this company for so long, has been granted more time for his bid to save the iconic retailer. a bankruptcy judge now says the retailer will move forward with a planned january 14th auction which is contingent on lampert providing a $121 million deposit by tomorrow afternoon. who among us can do that? his hedge fund has bid $4.4 billion to buy the business outright which would keep 425 stores open, about 50,000 people employed so a lot of people on tinterhooks about this. shares spiking more than 20% on the news. we have it up now 23.5% but it's a $37 stock, folks. >>> all right. when jpmorgan chase chairman and ceo jamie dimon speaks, the markets listen. this morning, he spoke exclusively to "mornings with maria" on the recent wild market volatility. listen to what he said. >> sometimes that adjustment is reasonable and prices now are more reasonable and you know, like with high yield we had no bond issuance in december. my guess is you will see something happen soon and the market's going the opo open up u take a deep breath. there will be

we hear today, eddie lampert wins his bid as the winning bid.y're going to keep something like 400 stores open at least for now. does it continue does it survive? >> he must know something nobody else knows what i mean by that is penny's is trading for under $1 billion with twice as many stores as sears would be left with why would you create a $5 billion transaction unless you knew something about real estate or brand value so i don't think -- i don't know >> i want to ask you about retail's move into the cloud and digital era. we had satya nadella yesterday talking about this deal with walgreens's boots alliance he's also done deals with walmart, with kroger what's the hard part in pulling that off, not just between these two companies, but he's talking about bringing this whole ecosystem together to digitize the foundation for the future. >> the world is going digital, and it's all being integrated. we've talked for a long time about retail stores connecting digital and physical, like target's doing a great job then it goes to specific catego

they accepted the bid by eddie lampert that could keep 425 stores open and save jobs for thousands of workers. it would require him to deposit into his hedge fund by tomorrow afternoon. the revised bid is not official and will be evaluated in auction next week, that will compete for others looking to shut it sears down. >>> chinese newspaper is warning the united states not to demand too much from china. the newspaper published by the ruling communist party says china is strong and has its own needs. u.s. and china negotiators began two days of trade talks. the goal, to ease trade tensions, after president trump, and chinese president xi jinping. 90 days for new yorks. but there is no wor yet on possible progress from those talks. >>> the supreme court has declined to hear a challenge on california's ban on foie gras. yesterday's decision means the ban will remain in effect throughout the state. critics say enlarging ducks and geese liver is animal cruelty. >>> just ahead, new information to bring you on a triple homicide in loakand. we'll hear from a witness and friend who heard the

sources say the retailer got a gest-minute bid from its chairman and larst shareholder eddie lampert, who could save it. he offered tuy about 425 sears and kmart stores and about 50,000 employees working. sears will have an auction for its assets on monday. the company will decide on lampert's offer and bids with liquidation firms. with your cnbc business report i'm frank holland. >>> schoolkids are getting excited about chances of snow. today, focus on your studies. you're going to class and you'll be cold getting in and out of ing today. temperatures stay in the chilly 30s with windchills in the 20s .l day lo if you got it and it keeps you warm, put it on. hats with tiedowns required. an update on the weekend s chances and what effect it might have on monday's school, coming up. >>> taking a look at 66. chopper over66 at 50. a little volume and a couple other problems around townnd full details aravel >>> we have some breaking news. maryland state senate president mike miller is battling prostate cancer. miller's a democrat from calvert county and he serveds senate president since 1

sources say the retailer got a last-minute bid from its chairman and largest shareholder eddie lampert could save it. he offered to buy stores and 50ep about 00 employees working. sears will have an auction for its assets on the company will decide on lamp ert's offer and bids with liquidation firms. with your cnbc business report, anm frank ho >>> still ahead on news 4 today, the d.c. region population is growing. how metro plans to handle that boom. >>> and a rash of car break-ins caught on camera. who is being targeted by thieves d what you can do to stay safe? denise? oh hey, sandy. hey. this is a trick my nonna taught me to make sure my produce is fresh. but aldi produce is delivered every day? yeah. so you don't need t.. do 't. you' not even going to hold that cantaloupe against your face? the only trick you nond to save time and is to shop at aldi. your choice of little salad bar chopped salad kits, now just $1.99. aldi. shoprentli. >>> news 4 today starts now. >> goorning, everyone. just about 6:00 a.m. i'm eun yang. >> i'm chris lawrence in for aaron. day 20, hundreds thousand