Thursday, September 21, 2017

On Monday night, New Jersey, US-based toy retail giant Toys R Us filed for bankruptcy in the US as well as in Canada. The retailer filed it from Richmond, Virginia for Chapter 11 bankruptcy code in the US, and a judge allowed a loan of over US$2 billion.

According to the filing, the retail chain owns US$6.6 billion in assets, but has a debt of US$7.9 billion. They were under a roughly US$5 billion debt since the company underwent a three-way acquisition in 2005. Kohlberg Kravis Roberts, Bain Capital, and Vornado Realty Trust acquired Toys R Us for around US$7 to US$7.5 billion. After the US judge approved a loan, Toys R Us received about US$3 billion from the lenders to continue the business and survive a competitive market, and restructure their business model. E-commerce giant Amazon.com, Walmart and Target are some of the competitors for the conventional ‘brick and mortar’ toy shop, with lower priced-merchandise and fast, cheap delivery. In a conference call in June, CEO Dave Brandon said “very, very aggressive pricing online” was causing problems. He also said the company was experiencing “significant weakness in demand for their products globally”. Toys R Us are to clear a debt of US$400 million by May 2018.

Toys R Us said they would continue to operate for the holiday season. Bankruptcy lawyer Jeff Gleit said Toys R Us “need to do both a financial restructuring as well as an operational restructuring” and “needs to modernize with the times”. Last holiday season, Toys R Us made sales around US$4.5 billion. Overall, the company reported a US$29 million loss in 2016. CEO Brandon said, “Our objective is to work with our debt holders and other creditors to restructure the US$5 billion of long-term debt on our balance sheet, which will provide us with greater financial flexibility to invest in our business”.

Toys R Us employs more than 60 thousand people in 38 countries around the world in more than 1600 stores. The company’s stocks fell by six percent after filing for Chapter 11 protection. US bankruptcy code Chapter 11 allows the company to restructure under a plan approved by the court. The company would also be shielded from creditors’ claims during the process. For the stores located in Canada, Toys R Us filed bankruptcy in Ontario and are to undergo reorganisation. However, 259 stores located outside the US or Canada will not undergo reorganisation, the company said.

Over 300 US-based retailers have filed for bankruptcy this year, and hundreds of stores closed.

Saturday, November 4, 2006

On November 13, Torontonians will be heading to the polls to vote for their ward’s councillor and for mayor. Among Toronto’s ridings is Don Valley East (Ward 33). One candidates responded to Wikinews’ requests for an interview. This ward’s candidates include Zane Caplan, Shelley Carroll (incumbent), Jim Conlon, Sarah Tsang-Fahey, and Anderson Tung.

For more information on the election, read Toronto municipal election, 2006.

Saturday, March 15, 2008

The Internet group Anonymous today held further protests critical of the Church of Scientology.

The global protests started in Australia where several hundred protesters gathered at different locations for peaceful protests.

In a global speech, the Internet protest movement said Scientology “betrayed the trust of its members, [had] taken their money, their rights, and at times their very lives.” The protesters welcomed the public interest their protests have led to, and claimed they witnessed “an unprecedented flood of Scientologists [joining] us across the world to testify about these abuses.” The group said it would continue with monthly actions.

In a press statement from its European headquarters, Scientology accused the anonymous protesters of “hate speech and hate crimes”, alleging that security measures were necessary because of death threats and bomb threats. This also makes the Church want to “identify members” of the group it brands as “cyber-terrorists”.

Wikinews had correspondents in a number of protest locations to report on the events.

Anonymous states that the next protest is scheduled to take place on April 18, which happens to be the birthday of Suri, the daughter of Tom and Katie Cruise.

Monday, December 3, 2007

At Thanksgiving dinner David Shankbone told his white middle class family that he was to interview Reverend Al Sharpton that Saturday. The announcement caused an impassioned discussion about the civil rights leader’s work, the problems facing the black community and whether Sharpton helps or hurts his cause. Opinion was divided. “He’s an opportunist.” “He only stirs things up.” “Why do I always see his face when there’s a problem?”

Shankbone went to the National Action Network’s headquarters in Harlem with this Thanksgiving discussion to inform the conversation. Below is his interview with Al Sharpton on everything from Tawana Brawley, his purported feud with Barack Obama, criticism by influential African Americans such as Clarence Page, his experience running for President, to how he never expected he would see fifty (he is now 53). “People would say to me, ‘Now that I hear you, even if I disagree with you I don’t think you’re as bad as I thought,'” said Sharpton. “I would say, ‘Let me ask you a question: what was “bad as you thought”?’ And they couldn’t say. They don’t know why they think you’re bad, they just know you’re supposed to be bad because the right wing tells them you’re bad.”

Monday, July 9, 2007

Dutch adventurer Ralph Tuijn has reached the halfway point of his attempt to be the first person to row across the Pacific Ocean unaided.

The 16,000 kilometre journey from the coast of Peru to the seaside city of Brisbane, Australia, the widest section of the Pacific, has never been crossed absolutely unaided by a rower, and Tuijn says just nine people have rowed it even with assistance.

Tuijn reached the central point of his crossing, an insignificant point of water in the ocean, 111 days after setting off from Peru in March. He has been making good progress, and has since cut his estimated time of arrival in Brisbane by a month.

The Dutchman, who now expects to reach his destination on October 20, has kept in touch with those tracking his movements through daily internet postings from his laptop computer, including his wife Winnie. His boat, the Zeeman Challenger, is a seven-metre custom plywood vessel.

Tuijn has overcome a variety of obstacles to reach the halfway point. He is suffering from the constant attention of sharks, who often bump his boat and disrupt his attempts at sleep. One particular shark, dubbed ‘Gomulka’ by Tuijn, has been trailing the adventurer’s boat for extended periods.

He has also accidentally burnt himself when he spilled hot water on his foot whilst trying to make coffee, apparently also from a shark ‘bump’. He is also forced to manually pump water for cooking and drinking after his automatic water pump broke down not long into his journey.

His vessel has no motors or sails, but relies on his physical rowing power to move. The boat does have a solar power system to provide energy for his laptop, a telephone and a global positioning system.

Tujin, who is raising money for a children’s home in Mumbai, India, is rowing at an average speed of 58 kilometres each day. His diet consists of freeze-dried foods and fish, which are keeping him physically well-conditioned despite tiring mentally.

Tuijn is a serial adventurer and experienced rower. He has rowed across the Atlantic Ocean and the North Sea, as well as cycled across Russia and the icy terrain of Greenland.

The time is 22:00 (UTC) on January 4, 2007, and this is Audio Wikinews News Briefs.

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Friday, April 15, 2005

The 11th crew of the International Space Station rocketed into space Thursday at 8:46 EDT. The Expedition 11 crew rode aboard a Russian Soyuz spacecraft, and two of them will remain in their new home-away-from-home for six months.

They were given a heartfelt send-off by Russian Mission Control chief Vladimir Solovyov:

“The people who are doing the job are real romantics who are involved in fascinating work for a miserable salary,” he told reporters after the launch, which he called a “remarkable event.”

Cosmonauts typically earn $144 to $179 a month.

The launch from the Baikonur Cosmodrome in Kazakhstan, came as ISS was on a north east heading approximately 230 miles above the southern Atlantic Ocean.

At the controls were Commander Sergei Krikalev, NASA Station Science Officer and Flight Engineer John Phillips, and European Space Agency astronaut Roberto Vittori. Vittori will return April 24 with the prior crew, Expedition 10 Commander Leroy Chiao and Flight Engineer Salizhan Sharipov, after conducting some experiments.

Soyuz will dock with ISS at 10:19 p.m. EDT on Saturday. Live NASA coverage of the docking and hatch opening will be shown on NASA TV beginning at 9 p.m. Saturday and can be viewed on Internet TV at http://www.nasa.gov/ntv (Free Real Player or Windows Media Player required).

Monday, October 1, 2007

Charles de Kerckhove is running as an independent in the Ontario provincial election, in the riding of St. Paul’s. Wikinews’ Nick Moreau interviewed him regarding his values, his experience, and his campaign.

Stay tuned for further interviews; every candidate from every party is eligible, and will be contacted. Expect interviews from Liberals, Progressive Conservatives, New Democratic Party members, Ontario Greens, as well as members from the Family Coalition, Freedom, Communist, Libertarian, and Confederation of Regions parties, as well as independents.