Sears to close 80 more stores, full liquidation possible as deadline looms

Sears to close 80 more stores, full liquidation possible as deadline looms

Chairman of Sears Edward Lampert (Credit: Getty Images and iStock)

Sears Holdings plans to close 80 more stores nationwide in March as it teeters on the brink of full liquidation.

News of the latest closures comes on the last day for parties to make a bid on the 125-year-old retailer in bankruptcy before liquidators break up the company altogether, according to CNBC. The latest round will affect seven Sears or Kmart stores in Florida, five in California, five in New York, two in Illinois and one in New Jersey, according to CNBC.

Hoffman Estates-based Sears filed for bankruptcy in October, saying it planned to close 142 stores around the end of the year. It announced the closure of 40 more stores in November, and told employees Thursday about the 80 additional stores set to be shuttered.

Sears chairman, Eddie Lampert, has been trying to buy the retailer out of bankruptcy through his hedge fund, ESL Investments, but as of Thursday neither he nor any other party had formally submitted a bid.

The company has been unable to compete with retailers like Walmart and Target, and has buckled under the continued growth of e-commerce sites. [CNBC] — John O’Brien

Rockwell Hosts NYE Bash with Live Performance by Tory Lanez!

Rockwell Hosts NYE Bash with Live Performance by Tory Lanez!

Rockwell, Miami’s most in-demand party scene, is hosting a New Year’s Eve celebration to remember, with a live performance by rapper Tory Lanez. The Billboard Hot 100 artist, known…

Con este gesto sorprendió Tom Hanks a sus fanáticos en una hamburguesería

Con este gesto sorprendió Tom Hanks a sus fanáticos en una hamburguesería

El actor estadounidense Tom Hanks ha demostrado ser una persona humilde desde hace muchos años, pero nunca deja de sorprender la forma en como recibe a sus fanáticos, quienes hacen de todo para tener un recuerdo junto al artista.

Tom Hanks es uno de los actores que más aceptación tiene por el público de Hollywood y su reputación no está ni cerca de verse empañada, más aún en fechas cercanas a la Navidad.

El ganador del Oscar, de 62 años, y su esposa, Rita Wilson, asistieron sorpresivamente a un local de In-N-Out en Fontana, California, para comer una hamburguesa y tomar un refresco, pero no solo se llevaron eso.

El actor no pasó desapercibido por los comensales y, rápidamente, fue abordado por las personas del local quienes se tomaron fotografías junto al actor, quien también se tomó su tiempo para firmar autógrafos.

Las fotografías que retratan el paso de Tom Hanks por esta tienda de comida rápida fueron compartidas en Instagram y causaron una respuesta favorable para el protagonista de “Forrest Gump”.

“Tuve el honor absoluto de conocer a Tom Hanks y su hermosa esposa Rita Wilson”, “Son las personas más geniales y humildes que he conocido”, “Eres una gran persona”, son algunos de los comentarios que se leen en las fotografías.

Pero eso no fue todo, ya que a las personas que esperaban en el autoservicio del establecimiento, Tom Hanks les invitó el almuerzo como quedó evidenciado en un video de Facebook publicado por uno de los afortunados comensales.

 

Fuente: El Comercio

 

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La entrada Con este gesto sorprendió Tom Hanks a sus fanáticos en una hamburguesería se publicó primero en Miami Diario.

Toys “R” Us closed 800 locations this year. Now, its stores are flying off the shelves

Toys “R” Us closed 800 locations this year. Now, its stores are flying off the shelves

An empty Toys “R” Us store (Credit: iStock)

Former Toys “R” Us stores are selling quickly in the wake of the company’s bankruptcy.

The retailer has closed roughly 800 stores this year, and buyers have been scooping them up quickly thanks in part to their relatively long leases and cheap rents, according to the Wall Street Journal. The stores’ wide variety of configurations and sizes is also increasing demand, as it makes them well-suited for new tenants ranging from auto dealers to health-care providers.

This has not always been the case with failed retailers. Sports Authority, for instance, filed for bankruptcy in 2016 and struggled to sell its stores. The chain sold roughly a third of its 450 stores after 18 months, although demand eventually picked up.

Not all former Toys “R” Us locations have moved, though: some locations didn’t even receive bids, and at least 268 store leases were rejected.

Meanwhile, A&G Realty Partners has handled the sales for 567 Toys “R” Us sites and sold 209 of them during auctions.

“It’s a great showing,” A&G co-president Emilio Amendola told the Journal. ”If you sold 10 percent, you’d be dancing in the streets.” [WSJ] – Eddie Small

Byblos Hosts New Year's Eve Dinner + ‘A Night at El Morocco' Celebration!

Byblos Hosts New Year's Eve Dinner + ‘A Night at El Morocco' Celebration!

Mediterranean hotspot, Byblos, is hosting a New Year’s Eve celebration to remember, offering a very special dinner followed by ‘A Night at El Morocco’ after-party in their ba…

Jazzista María Rivas: Los venezolanos necesitan escuchar un mensaje de esperanza

Jazzista María Rivas: Los venezolanos necesitan escuchar un mensaje de esperanza

La jazzista venezolana celebra 35 años de carrera y se alista para presentarse en el South Beach Jazz Festival, que se realizará del 4 al 6 de enero.

Para la venezolana María Rivas participar en el South Beach Jazz Festival es un logro importante, un escalón más en su carrera musical, que este año también le dejó la satisfacción de haber sido nominada al máximo galardón que otorga la industria.

La jazzista forma parte del cartel de la tercera edición de este festival, que se celebrará del 4 al 6 de enero en varios puntos emblemáticos de Miami Beach, entre ellos, en el Colony Theatre.

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“Me encanta divertir con la versatilidad e improvisación del jazz. Esta ocasión será muy importante, pues tengo de invitado estrella al flautista Néstor Torres, un virtuoso músico que atrae por su carisma”, adelantó Rivas a Diario las Américas sobre su presentación en el South Beach Jazz Festival.

Rivas, quien desde pequeña ha estado vinculada a la música, afirmó que ha encontrado “muchos” obstáculos en su camino hacia sus metas, por eso celebró aún más la nominación de su disco “Motivos”, en la pasada edición del Latin Grammy.

“Ser artista femenina es una convicción que se debe llevar para luchar contra las barreras del negocio de la música, donde el verdadero talento, la perseverancia y el empeño en evolucionar te hacen llegar adonde señala la intuición”, expuso.

“Por eso, cuando me anunciaron mi nominación este 2018, lo primero que pensé fue que valió la pena haber pre-nominado por primera vez al Latin Grammy mi onceavo disco, después de 35 años como cantante”, añadió.

Uno de los obstáculos que Rivas superó fue haberle vencido la batalla contra una inesperada enfermedad que la mantuvo alejada de la música.

“Estuve siete años sin lanzar un álbum debido para vencer y controlar el cáncer. “Motivos” fue grabado en plena terapia de sanación”, reveló.

Su más reciente material, que le valió dos candidaturas en la categoría Tropical Tradicional, fue grabado en EEUU, Venezuela y España.

La música: “un ente sanador”

Para Rivas, este año marcó su segundo debut en la industria de la música tras 35 años de carrera artística. Y espera recibir el 2019 con “música de la buena”.

“Quiero brindar amor y esperanza, y mostrar lo que no se puede escuchar o comunicar sin la gracia de la música”, dijo.

“Shakespeare dejó escrito que el verdadero artista es un espía de Dios. Espero ser digna de espiar, cantar y de transformar las energías”, decretó.

Asimismo, recordó que hoy más que nunca su país natal necesita de voces que se hagan eco de un mensaje de esperanza.

“Somos ejes y garantes de una esperanza para quienes sufrimos el más desastroso fenómeno político que ha acabado con la felicidad y la riqueza familiar y social del venezolano”, sentenció.

Rivas anticipó que para en 2019 traerá nueva música, incluso cumplirá un sueño que hace años ha albergado.

“Entre los próximos proyectos figura una nueva producción discográfica, que tendrá más Latin jazz con temas inéditos. Vendrá un cd en inglés y portugués, que durante muchos años he anhelado hacer. También haré música espiritual porque esto forma parte de mi inspiración . La música es un ente sanador”.

Fuente: DiariolasAméricas

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La entrada Jazzista María Rivas: Los venezolanos necesitan escuchar un mensaje de esperanza se publicó primero en Miami Diario.

This hedge fund is making billions off distressed borrowers

This hedge fund is making billions off distressed borrowers

(Credit: iStock)

Just before the 2008 financial crisis, Fir Tree predicted that homeowners would keep making mortgage payments even as the value of their homes plummeted. That bet has paid off.

The hedge fund has made $2.6 billion, roughly half of which came from homeowners making payments on underwater mortgages, the Wall Street Journal reported. The other half came from forcing banks to pay up on defaulted loans.

Like investor John Paulson, the company banked on the market crashing. Fir Tree picked up second-lien bonds expecting to — at the very least — break even if most of the loans defaulted. But the company correctly predicted that borrowers wouldn’t walk away from their mortgages even as their home values fell well below their debt.

“Even highly distressed borrowers pay off their obligations since they care about their credit,” Clinton Biondo, managing partner at Fir Tree, told the Journal.

As the hedge fund continues to collect on its bet, the U.S. housing market is showing signs of a cool down. Median home prices across the country fell in the fourth quarter to their lowest levels of affordability since the third quarter of 2008, according a report released earlier this month by real estate data firm Attom Data Solutions. [WSJ] — Kathryn Brenzel

Esta noche el Mega Millions sorteará 321 millones de dólares

Esta noche el Mega Millions sorteará 321 millones de dólares

Esta noche de martes la lotería del Mega Millions sortea unos 321 millones de dólares, la cifra más grande que se conozca en los 16 años de historia del premio para un 25 de diciembre.

En esta etapa navideña, el premio gordo quizás ha suscitado menos ánimo que en otras épocas debido a la cantidad de lugares cerrados por Navidad, pero aún así son muchas las personas que buscan su ticket para probar suerte.

El monto aumentó considerablemente luego de que el pasado viernes nadie hiciera coincidir los seis números ganadores. El posible ganador de esta noche navideña sería la primera persona que se llevara el premio en tal fecha.

 

Fuente: Telemundo 51

 

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La entrada Esta noche el Mega Millions sorteará 321 millones de dólares se publicó primero en Miami Diario.

The Closing: Alan Faena

The Closing: Alan Faena

Alan Faena (Photo courtesy of Christopher Sturman)

Alan Faena is known for his artsy taste, for always wearing white and for creating the Faena District in Miami Beach. Faena was born in Argentina, and his life has taken several turns, including modeling, owning a major fashion company and developing the Faena District in Buenos Aires — all before founding his namesake district in Miami Beach with partner Len Blavatnik. Like some other notable people in powerful positions, Faena appears to enjoy putting his name on buildings. He’s developed the Faena Hotel, the ultra-luxury Faena House condo tower and the new arts and cultural center Faena Forum, all part of the Faena District that runs on both sides of Collins Avenue from 32nd Street to 35th Street. He works out of a design trailer facing the beach that’s filled with drawings of his hotel, photographs and fabric and marble samples. 

What was your childhood like? It was a childhood full of love. We were in the city, in Buenos Aires, and I grew up with the love of my parents. My father used to have a big textile company and he produced wool.

Did you go to college? I went to school and I started working, creating when I was in high school, so when I finished school I already had a company, so I continued developing my company.

What kind of company did you have? A fashion company. It was called Via Vai. It was a big revolution in the city. It was a generational movement — it was more than fashion. It was when democracy was starting; the dictatorship was finished. It was a very amazing and blooming moment for the city. I was kind of the leader of all these young people that wanted to start living again and dressing up and showing attitude, and I started bringing the attitude.
I started mixing rock and roll with fashion.

How long did you have that business? Twelve or 13 years. I created a big business, with 50 stores. When I sold the company —[it was generating] around $30 million at the time — it was a lot of money in Argentina. I started with two T-shirts, and we were selling 120,000 pieces.

Then what was next for you? I sold the company in ‘95 or ‘96. After that, I became a gardener. I went to live at my home on the beach. Having all that craziness, with 50 stores and 300 stores I was selling to… I went with my girlfriend to live at my house on the beach in Uruguay. I created the most amazing rose garden.

How did you get into hotels? I started thinking, how I can use all that experience that I have from fashion, which is a great teacher. You have all kinds of aspects. You understand feeling, you understand desire, how to create it, mixing music, color, money, financials, marketing, communications. And much more.

Then I took the time that I needed. I recommend to everyone to take the time, to see what war they want to fight or what they need from themselves and to be in silence, to pay attention to silence. It looks easy, but it is big work when you look for a new way for yourself. I took the time to do it. I thought that I would never work anymore because I was so far away — no phone, no secretary, no computer… At the time, the Internet was just starting.

But I started experiencing conflict because I was very young still. And also I was not rich enough to live on my money. I think my creativity needed more space to continue evolving. So I realized that if I can create that magic that I created in fashion and I created in my place in Uruguay, that is like an alchemy place. I realized you can do that in buildings. Because a building is like a big pot of alchemy, of energy, where you can put music, dancing, shows, food, taste, emotions, flavors.

From there, the thinking to the creation was difficult, almost impossible. It was a time in Argentina, 2001, it was a big crisis.

I found an abandoned building, this place that had no street, no garden, nothing, and I turned this into the most amazing hotel and real estate in Argentina. It became the most successful real estate story in Latin America.

How did you meet Len Blavatnik? Because of Chris Burch.

How did you meet Chris Burch? He was the co-founder — with his ex-wife — of Tory Burch and other retail brands. He was coming to Argentina because of a friend in common. And I was trying to find money — it was impossible in Argentina — and Chris Burch came and I walked with him to this destroyed building and I told him my plan to make this hotel. Chris is a magic man, and unique, and he can think outside the box. He believed in me and was the first one to give me money, and he connected me with one of the most incredible groups of private money ever created, the first Faena Group of investors: Chris Burch, his brother Bob Burch, Austin Hertz, from Hertz Corp., and Len Blavatnik.

How did you decide to create the Faena District in Miami Beach? Len Blavatnik, my friend and partner, he told me, “There’s this building, here, the old Saxony. I bought it and I don’t know what to do with it. Come here and check it out.” Then I came and Len told me, “Why don’t we do the same thing we did in Buenos Aires?” We started buying the pieces of land and creating a district with architecture and design, people from around the world, art, the art center.

What has been the hardest part of developing it? Everything, everything. I put so much passion in.

Why do you always wear white? It’s a color I feel good in. I don’t think I need anything more. Also, it’s easy. And I like that everybody dresses in black, so I dress in white.

Your wife works with you? Yes, she takes care of some parts of the company.

How long have you been together? We have been together eight years.

What is your secret to a good marriage? Being a good lover.

How did you meet your wife? She was working with me in Buenos Aires, at Faena District. We started working together as very good friends and then, over time…

What do you like to do to relax? Listen to music and go to the ocean.

What keeps you up at night? I work a lot for the things that I believe in and put all my strength and my emotions in my beliefs.

What is next for you? I have different alternatives, but I am taking my time.
I could become a gardener again or create a district again, or create shows, I love shows. I love theater. I love art. We will see. Life will say. 

This interview has been edited and condensed for clarity. 

Look Inside a Colorful 12,000 Sq. Ft. Apartment in South Florida

Look Inside a Colorful 12,000 Sq. Ft. Apartment in South Florida

Behold the glass tower where views, art and interior design converge in one sprawling, treasure-filled penthouse.
A sitting area decked out in Christian Lacroix Maison for Roche Bobois.
When C…