5 Things To Know For Your New Day-Monday October 15th

Sears lines up emergency financing due to potential bankruptcy

Source: VIEW press / Getty

via CNN:

Sears, the store that changed America, declares bankruptcy:

Sears, the once-dominant retail chain that changed how Americans shopped and lived, has filed for bankruptcy.

The 132-year-old company has been struggling for several years and is drowning in debt. The final straw was a $134 million debt payment due Monday that it could not afford.

Sears Holdings (SHLD), the parent company, which owns Sears and Kmart, is among dozens of prominent retailers to declare bankruptcy in the era of Amazon. (AMZN)

The filing in federal bankruptcy court in New York came just after midnight early hours of Monday. The company issued a statement saying it intends to stay in business, keeping stores which are profitable open, along with the Sears and Kmart online shopping sites. But it said it looking for a buyer for a large number of its remaining stores and that it will close at least an additional 142 stores near the end of this year, in additional to the 46 store closing already planned for next month.

Source: NBC / Getty

Michelle Obama rejects Eric Holder’s, Hillary Clinton’s rhetoric: ‘Fear is not a proper motivator’:

Michelle Obama slammed Eric H. Holder Jr.’s alteration of her famous “when they go low, we go high” slogan, saying the former attorney general’s “kick them” comment stokes fear and is “not a proper motivator” for change.

Appearing Thursday on the “Today” show, the former first lady said she stands by the phrase she first delivered at the 2016 Democratic National Convention.

“Fear is not a proper motivator. Hope wins out,” Mrs. Obama said. “And if you think about how you want your kids to be raised, how you want to think about life and their opportunities. Do you want them afraid of your neighbors? Do you want them angry, do you want them vengeful? We think of the values that we try to promote to our children

Hurricane Michael: Dozens still unaccounted for in hard-hit Mexico Beach:

Florida and Georgia are reeling from the brutal effects of Hurricane Michael, which slammed into the Florida Panhandle Wednesday.

The widespread destruction has left many people living in dire conditions. Residents have been waiting in long lines to collect bottled water and ready-to-eat meals (MREs) at several distribution centers. Helicopters are also airdropping food and water to remote areas.

2018 MTV Video Music Awards - Red Carpet

Source: Kevin Mazur / Getty

Ariana Grande and Pete Davidson end engagement:

The romance between “Sweetener” singer Ariana Grande and “SNL” performer Pete Davidson has turned sour.

The couple, whose whirlwind romance-turned-engagement powered the celebrity gossip machine through the summer, has split, a source close to the singer tells CNN.

Davidson confirmed their engagement in June. They had been dating a few weeks at the time.